International real estate advisor Savills has strengthened its retail investment team with the appointment of James Stratton from Cushman & Wakefield.
Outlet centres are increasingly on the agenda of shoppers, landlords and investors, according to a new report from Savills and Seven Dials, with hybrid offers and increasingly urban schemes providing key opportunities for future success. Retail Revolutions: The Evolution of the Outlet Centre states that average footfall has grown 10% at such schemes since 2012, while average spend has risen from £51 to £72.50 and the number of shoppers visiting between three and 11 times per year is up by 10%.
Destination cities in Europe, North America and Asia Pacific markets beyond China have all seen a proportional increase in share of global luxury store openings in 2017, according to Savills, as brands refocus on these markets in response to slowing growth in personal luxury goods spend. The firm’s new Global Luxury Retail report states that, by contrast, the proportion of global luxury openings in China and Middle East fell to 9% this year from 17% in 2016.
Boom in European 'multifamily' investment paves way for continued growth across core and emerging markets - Savills
Multifamily (or PRS as it is known in the UK) now accounts for 14% of total real estate investment in Europe and half of all real estate investment activity in Denmark, a third of the activity in Sweden, 23% in Finland, 22% in Germany and 17% in the Netherlands, according to Savills.
Virginia Woolf’s former home and birthplace of the Hogarth Press has been converted into two exquisite townhouses in the centre of Richmond
Two painstakingly restored townhouses, Virginia and Leonard, which together form Grade II listed building Hogarth House in Richmond, Surrey, are now for sale through Savills for £3.75m each.