Going wild? A radical green plan for Nottingham’s unloved shopping centre

An empty 1970s shopping centre in Nottingham could be transformed into wetlands, pocket woodlands and a wildflower meadow as part of a post-pandemic urban rewilding project.

The debate about Broadmarsh shopping centre, considered an eyesore by many, has rumbled on for years. This year it was undergoing a £86m revamp by real estate investment trust Intu when the firm went into administration.

The number of empty shops on UK high streets has risen to its highest level in six years, and as retail giants such as Debenhams and Arcadia Group falter, Nottinghamshire Wildlife Trust has come up with a new model of inner city regeneration: urban rewilding.

The trust wants to bulldoze the already half-demolished Broadmarsh building and turn it into 2.5 hectares (6 acres) of scruffy green space at an estimated cost of £3-4m. The designs were created with Influence Landscape Architects and could set a precedent for what to do with the growing amount of vacant retail space in other cities. “It’s unbelievable to hear that stores like Debenhams are in the position they are in – they’re stalwarts of the city, but it does put out an opportunity,” said Sara Boland, managing director of Influence.

Ponds surrounded by reeds, crocus meadows and wet grasslands would attract butterflies, dragonflies and a range of birds including reed warblers and black redstarts, according to the Wildlife Trust, which is calling on people to back its green vision. It will put its plans to Nottingham city council in the coming weeks as the authority canvasses views on what Broadmarsh could become as part of a 10-week consultation process.

The proposed scheme would run counter to the conventional idea of urban parks and instead hark back to what Broadmarsh would have looked like in centuries gone by. “Often open spaces in cities can be manicured and a bit formal,” said Boland. “The idea of this was to have more rewilding, restoring, protecting – this kind of connectivity, so the zones we then developed were about foraging, pond dipping and protecting species.”

Nineteenth-century maps helped architects get a clear picture of what this part of Nottinghamshire once looked like – a fertile garden area covered in fruit trees. Old street names include Pear Street and Peach Street; those fruits would be grown in the park to reflect its heritage. Crisscrossing the park would be walkways based on centuries-old street layouts.

Nottingham Wildlife Trust has long wanted to create green corridors in this area of the city to connect it to Sherwood Forest to the north. It has put up nest boxes on many buildings close to Broadmarsh to encourage black redstarts, which used to live in the city but are now rarely seen.

Related: ‘It’s going to be our way now’: the guerrilla rewilder shaking up British farming

“We’ve actually spent quite a bit of time over the past 20 or 30 years looking at various redevelopment proposals for this part of the city and for the Broadmarsh centre. We’ve submitted ideas

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Saudi mall operator Arabian Centres to build outdoor shopping centre

Saudi Arabian mall operator Arabian Centres is planning to build an outdoor shopping centre to expand its lifestyle offering.

“Boulevard U Walk” will be the second addition to the company’s portfolio of shopping centres in the Islamic holy city of Medinah (Al-Madinah Al-Munawwarah) and it is expected to deliver about 57,000 square metres of additional gross leasable area (GLA), the firm said in a bourse filing on Monday.

The Saudi-listed firm, which operates 21 malls across Saudi Arabia, also confirmed that it has secured a long-term lease for a vacant plot on which the new mall will be built.

Under the rental and investment agreement with the plot owner, Madinah Regional Municipality, Arabian Centres will be paying an annual rent of more than 1 million Saudi riyals ($266,000) to develop and use the land for a period of 25 years.

The firm’s total investment for leasing the land alone will amount to more than 26.6 million riyals by the end of the lease term.

“This project comes in line with the company’s broad strategy, which aims to expand within the lifestyle shopping centres that include various entertainment destinations such as cinemas, luxurious restaurants and cafes, in addition to retail stores,” the firm said.

The company also pointed out that the Madinah Regional Municipality is keen to develop the area around the proposed project site as it is considered one of the most populous regions in the kingdom. However, the mall operator, did not confirm the investments that would go into building the new shopping destination.

(Reporting by Cleofe Maceda; editing by Seban Scaria)

[email protected]

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2020

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Covid-19 rent relief costs big shopping centre owner Kiwi Property $20m

Kiwi Property has spent $20m supporting its shopping centre tenants with rent reduction and deferrals because of their loss of trade during Covid-19 lockdowns.

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Kiwi Property has spent $20m supporting its shopping centre tenants with rent reduction and deferrals because of their loss of trade during Covid-19 lockdowns.

Big shopping centre owner Kiwi Property has spent almost $20 million on rent relief for tenants.

That was revealed in its half-year result where it posted a 47 per cent lift in profit to $54.2m thanks to a rise in the value of its office properties.

The company is also pushing ahead with plans for the construction of two office buildings and apartments at the Sylvia Park shopping centre.

The $20m rent relief contributed to a 5.3 per cent fall in net rental income to $84.9m for the six months to September 30, 2020.

READ MORE:
* The value of Kiwi Property’s $3.2b portfolio stabilises after falling six months ago
* Sylvia Park bets on the strength of the middle class as it expands with the Galleria
* Sylvia Park’s $277 million The Galleria to open next month
* Building apartments for rent is becoming increasingly attractive for Kiwi Property
* Foot traffic at Kiwi Property’s malls has rebounded to pre-Covid levels

Kiwi Property opened a 20,000 square metre extension at Sylvia Park shopping centre in Auckland which has about 60 additional local and international retailers.

Supplied

Kiwi Property opened a 20,000 square metre extension at Sylvia Park shopping centre in Auckland which has about 60 additional local and international retailers.

Kiwi chief executive Clive Mackenzie said by supporting its retailers it retained productive shopping centres. Its portfolio was 99.1 per cent leased.

The rent relief costs would be partially offset by the reintroduction of depreciation allowances for commercial buildings, expected to increase Kiwi’s full year after-tax earnings by approximately $4.5m.

Kiwi has a long-term strategy to reduce its reliance on shopping malls through more “mixed-use” development of other buildings and facilities on four of its large shopping centre sites in Auckland and Hamilton.

The mixed-use properties are Sylvia Park, Sylvia Park Lifestyle, LynnMall and The Base in Hamilton.

The company is pushing ahead with the strategy, announcing the second office building at Sylvia Park had resource consent and design was progressing for the 15-floor development.

Planning was also underway for a third office development, a smaller six-floor office and medical building at Sylvia Park, as well as for a build-to-rent residential development at Sylvia Park, Mackenzie said.

Kiwi’s office properties have been the most resilient to the economic impact of Covid. They increased in value in the half-year by 4.3 per cent to $950m.

However, its mixed-used properties and retail properties declined in value, by almost 1 per cent to $1.55 billion for mixed used, and by 3.3 per cent to $469m for its shopping centres.

Its total portfolio was worth $3.2b at September 30, 2020.

“While the uncertainty caused by Covid-19 continues to impact property values, it’s encouraging to see a firming of capitalisation rates and a general stabilisation of asset pricing across our portfolio,” Mackenzie said.

Kiwi Property has placed The Plaza shopping centre in Palmerston North up for sale. The funds from the sale will be used to further its mixed-used developments.

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Kiwi Property has placed The Plaza shopping centre in Palmerston North up for sale. The funds from the sale will be used to further its mixed-used developments.

Kiwi has

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HomeCo Daily Needs snaps up QIC shopping centre

It’s listing day for the new HomeCo Daily Needs REIT and there’s a nice day one present for investors.

It is understood manager HomeCo – which also retains a stake in HomeCo Daily Needs REIT – has secured the new REIT a bolt-on acquisition for its portfolio.

Sources said HomeCo had agreed terms to acquire Marsden Park Shopping Centre in Brisbane’s south-west, which is anchored by supermarket giant Coles.

Woolworths and Coles were expected to be the new HomeCo Daily Needs REIT’s two biggest tenants.  Supplied

HomeCo is expected to pay Marden Park owner QIC Ltd about $48 million for the shopping centre, which would represent a 6.75 per cent capitalisation rate and north of Daily Needs REIT’s existing portfolio cap rate (slightly below 6 per cent). It should also lead to a day one increase in the new REIT’s funds from operations forecasts contained in its prospectus.

The new REIT’s investors expect there could be a little kicker on day one, given what’s happened in the wider listed property trust market since bankers at Goldman Sachs and Macquarie Capital finalised the $300 million initial public offering. HomeCo Daily Needs REIT’s peers are now trading at about a 13 per cent premium to net tangible asset value, while the new REIT’s securities were sold in line with NTA.

The other news for HomeCo Daily Needs REIT investors is the group’s banking facilities, which are understood to be slated to rise to $500 million from $400 million. Macquarie, Westpac and National Australia Bank have joined the syndicate alongside arranger ANZ Banking Group, providing the firepower for more Marsden Parks when/if they become available.

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IPC Shopping Centre, Together with IKEA Redefines 11.11 Shopping Experience for the New Normal

PETALING JAYA, Malaysia, Nov. 10, 2020 /PRNewswire/ — In conjunction with 11.11, IPC Shopping Centre is proud to announce the launch of the Super Seram Sale. The Halloween themed sale happening from now until 30thNovember 2020 offers shoppers a new level of convenience to plan their shopping ahead of time through the Super Seram Sale microsite (superseramsale.my) that is filled with exclusive deals and promotions from tenants.

Enjoy super 'seram' promotions and discount at IPC Shopping Centre this November

“With the rise of COVID-19 cases in Klang Valley, we aim to provide a convenient, safe, and unique shopping experience for the many people. The Super Seram Sale is curated to bridge the gap between physical and digital channels and provide alternatives for its shoppers. Shoppers can now browse through the best deals on our Super Seram Sale microsite as well as IKEA’s e-commerce site and the newly launched IKEA shopping app. With the additional option to engage with a personal shopper, drive-thru curbside pickup, and delivery services through our exclusive partnerships with GoGet and Beep, shoppers don’t need to feel ‘seram’ to satisfy their retail therapy needs,” said Mark Tan, Marketing Manager of IPC Shopping Centre.

For those keen to visit the centre, all outlets in IPC remain fully open and ready to serve the community. Stringent hygiene, contact tracing, and social distancing practices are observed according to the latest government guidelines. This is to safeguard the well-being of our shoppers, co-workers, and communities during this trying times,” he added.

Riding on the 11.11 frenzy, IPC Shopping Centre will be partnering with its tenants including Harvey Norman, All IT Hypermarket, Dr Hauschka, Popular, Skechers, Spotlight, and many more others for this month-long sale. The specially selected discounts and deals are available exclusively for IPC shoppers in conjunction with the Super Seram Sale.

Throughout the Super Seram Sale period, IPC Små Club members aged 12 and below can also redeem a free face shield at the i-Counter located at Level G. This is a small token to make shoppers with young families feel as safe and secure as possible.

Also, two of the highest spending members of IPC’s loyalty program – Tack Club – will stand a chance to walk away with a Dyson Supersonic Hairdryer or a Sony PlayStation 4 Pro (1TB). To be eligible for this giveaway, Tack Club members are required to present their receipts at the i-Counter located at Level G. Members can also redeem a Seram e-vouchers worth RM10 when they spend a minimum of RM200 in two receipts.

The Super Seram Sale campaign will also be running nationwide at other shopping centres anchored by IKEA. Additionally, the much-anticipated IKEA Year End Sale will also be brought forward to 5th to 30th November to coincide with this exclusive sale period. For more information about the campaign and updates on the attractive in-store deals, visit https://superseramsale.my.

Contact:

Eugenie Lim
[email protected]
+60-1-6387-0846

SOURCE IPC Shopping Centre

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Toppen Shopping Centre unveils plans for pedestrian bridge and welcomes new offerings

JOHOR BAHRU, Malaysia, Nov. 6, 2020 /PRNewswire/ — Toppen Shopping Centre has unveiled its plans for a new pedestrian bridge that will link its centre to a neighbouring retail complex, effectively making the shopping experience for visitors even better. Going over the busy Persiaran Bandar Desa Tebrau, the 86-metre elevated pedestrian bridge will enable the community to travel safely and easily between Toppen and AEON Tebrau.

The community offerings at The Topp such as rock-climbing wall, skate park and water park have recently reopened to the public. (PRNewsfoto/Toppen Shopping Centre)

A Walkway to Bridge Physical Distance

With early approval from the Johor Bahru City Council, the pedestrian bridge will connect Toppen’s sheltered bus stop to AEON’s outdoor parking space. Construction of the bridge started in early August and is expected to be completed by January 2021. The covered bridge will provide shoppers and employees with a more convenient and safer alternative to crossing the current busy eight-lane roadway.

“As we approach our first anniversary, we remain committed to our vision of being the heart and hub of the Johor Bahru community. We are always looking at new ways to improve accessibility in and around our centre, including Tebrau as a whole,” said Joakim Hogsander, General Manager of Toppen Shopping Centre. “With the high volume of shoppers and residents in the area, we see this new feature benefiting the community whether they are visiting us, IKEA Tebrau, AEON, or simply crossing over to the other side. We built this pedestrian bridge of our own accord, and we hope that it will benefit the local community as a public amenity for a safer and better tomorrow.”

Introducing New Retail Options Under One Roof ‘Topp’

In spite of Malaysian’s economic challenges during the Movement Control Order (MCO), Toppen continued to welcome 13 new local and independent tenants to offer customers more options in areas of Beauty & Health, Fashion, Food & Beverages (F&B), Furniture & Household, Electrical & Digital Goods as well as some new services. The new tenants are D’Natural, O’Care, Top Secret, Historia Hair Salon, Shoe City, Prestar Jeans, TW Shoes Station, JIRE, SAY CHIZU Hokkaido Cheese Toast, MyeongDong Topokki, My Digital Lock, Segi Ganjaran Money Changer, and ONEXOX.

In September, Toppen introduced its own Beauty & Health space known as Beauty Stories, by Toppen. The area is designed to house a specially curated selection of independent health and beauty brands ranging from beauty, skincare and nailcare, to overall health and wellness.  

“At Ikano Centres, our ambition is to break the traditional retail mould and go beyond just shopping to create a meeting place for the many. Now, more than ever, we know how important it is for people to have easy access to a safe, inspiring place for shopping, eating out, hanging out with friends, playing with the kids and just getting everyday errands done. We are extremely fortunate to have a fantastic mix of tenants who continue to put their trust in us and see the tremendous opportunities to build their businesses at Toppen. With every new opening, we create new job opportunities for Malaysians while filling the needs we

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DC Centre & Partners Giving Away $30,000 Wedding – Press Release

DC Centre Banquet Facility

OMAHA, Neb., Nov 04, 2020 (SEND2PRESS NEWSWIRE) — DC Centre Banquet Facility today is opening up entry submissions to give away an estimated $30,000 wedding. This wedding giveaway, called the Free ‘I Do’ Contest and sponsored by Dinner4Two, is their way of giving back to their community after a difficult 2020. Anyone who has been affected by COVID-19 and is wanting to get married is encouraged to enter.

“DC Centre has been serving the community for over 25 years and is acutely aware of the unprecedented challenges and suffering that COVID has presented to our community, and while what we do is not integral to the health and wellness of individuals, we felt compelled to do something that may bring a small amount of relief and joy to those who have suffered the most,” says Pamela Christianson, CFO at DC Centre. “Therefore, in alliance with other businesses in the event industry we organized a wedding giveaway worth over $30,000 for those who have been adversely impacted by the circumstances of COVID. Love finds a way, even during a pandemic.”

Details of this giveaway include:

* An estimated $30,000 grand prize wedding including venue, catering, dress, tux, decor, flowers, honeymoon and more.

* All participating partners are local to the area and have donated their goods and/or services to this contest.

* A Spring wedding date of March 27, 2021.

The Free ‘I Do’ Contest is currently open for submissions. DC Centre is asking for a completed submission form on their Bridal Show website along with a maximum 3-minute video from the couple.

Starting December 1, 2020, DC Centre will post the videos on their Bridal Show website for the public to vote on. Voting will take place until January 1, 2021 when a panel of independent judges will choose the grand prize winner from the 3 most voted for couples.

For more information, including the complete Rules & Regulations and grand prize partners, visit https://dccentrebridalshow.com/contest.

About DC Centre:

DC Centre Banquet Facility is an event venue that hosts hundreds of events a year. They help clients host weddings, anniversary parties, retirement parties, holiday parties, fundraisers and more. Most recently during the COVID-19 pandemic, they helped the American Red Cross host two blood drives by donating their facility while so many others were closed and unable.

News Source: DC Centre Banquet Facility

Related link: https://dccentre.com/

This press release was issued on behalf of the news source, who is solely responsible for its accuracy, by Send2Press Newswire. To view the original story, visit: https://www.send2press.com/wire/dc-centre-partners-giving-away-30000-wedding/

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Shopping centre landords call for emergency government support in second lockdown | News

christmas shopping centre

Revo, which represents shopping centre landlords, is urging the government to provide emergency support for the high street following the announcement of a second national lockdown.

The industry body has called for business rates relief to be extended beyond April 2021 and for financial support for retailers that can’t pay rent.

“The second lockdown will be catastrophic for the high street and wider economy and government must act to provide the emergency support needed to enable retailers to survive and mitigate the damage that will be caused through the commercial property sector and financial system by another drastic cut in rental income,” said Revo chief executive Vivienne King.

“The government has extended the furlough scheme and must confirm now that it will extend the emergency business rates relief beyond April, to give retailers the breathing space over operating costs for next year and enable them to protect jobs through what is going to be a very bleak winter.”

King said many businesses that had restarted rent payments over the summer would now be forced to halt them again, adding to a £4.5bn bill.

“This is a responsibility for government to shoulder,” said King. “There are simply too many jobs and livelihoods at stake, and the Treasury must provide direct financial support to underwrite some of the lost rental income to protect jobs and prevent the financial contagion spreading through the economy to the pensioners and savers who directly or indirectly rely on retail property for income.

“Government must learn the lessons of the first lockdown and recognise that property owners cannot continue to absorb the losses indefinitely. Failure to act could come with a heavy cost for our town centres.”

Figures from real estate advisor Altus Group suggest the new lockdown will see 363,000 non-essential shops ordered to shut.

Those allowed to stay open will include include 60,365 superstores, smaller supermarkets, convenience stores and other food retailers, and 2,916 pharmacies.

Altus Group UK president Alex Probyn said the lockdown would be a “difficult balancing act” for Chancellor Rishi Sunak, adding: “The reality is that the grant funding paid during the first lockdown has long since been used. The new lower grants for those firms forced to close won’t cover rent commitments and is likely to exacerbate the commercial rent debt crisis without further intervention.”

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Lok Fu Place Launches the “Herbal Harvest” Campaign: The Only Shopping Centre in Kowloon with an Urban Farm

  • Lok Fu Place has become the only shopping centre in Kowloon with an outdoor urban farm, which contains 60 species of organic fruits, vegetables and herbs
  • Guided tours are available to promote organic farming and planting tips
  • Lok Fu Place will collaborate with tenants to give away 3,000 sets of free herbal beverages and snacks

HONG KONG, Oct. 29, 2020 /PRNewswire/ — Link Asset Management Limited’s Lok Fu Place has become a popular and vibrant leisure hub for shopping, dining and entertainment in Kowloon following the completion of its asset enhancement. The shopping centre now offers an enhanced tenant mix and new shops, and it has also curated a series of mindfulness-themed events to inject positive energy into the lives of shoppers and promote a sustainable and healthy lifestyle. In addition to enlarging and renovating the existing outdoor open space, Lok Fu Place has introduced a 3,000-square-foot Urban Farm to advocate green living, making it the only shopping centre in Kowloon with such a facility.

Lok Fu Place has become the only shopping centre in Kowloon with an outdoor urban farm, which is filled with various species of organic herbs, vegetables and fruits.

The spacious Urban Farm offers more than 1,000 planting spots where 60 species of agricultural produce such as organic vegetables, fruits and herbs can be grown, yielding up to a total of 500 kilograms annually. To promote sustainable organic farming and urban green living, the shopping centre is launching the “Herbal Harvest” campaign starting from 31 October 2020, during which herb-inspired cuisine will be served in Lok Fu Place’s dining outlets and 3,000 free herbal beverages and snacks will be given away. Meanwhile, guided tours will be organised regularly for participants to gain first-hand experience in organic farming and learn green living tips.

Lok Fu Place and Tenants Come Together to Bring the “Herbal Harvest” to Life

To echo with the Urban Farm’s healthy living concept, participating food and beverage tenants at Lok Fu Place have created a fascinating array of herb-infused delicacies, including herb-rubbed spareribs, scallops with herbs, herb-rubbed rack of lamb, roast chicken with thyme and more. For three consecutive weekends starting from 31 October, the shopping centre will collaborate with Fullhouse Kitchen to give away herbal beverages and snacks, including lemon soda with coriander and parsley, common rue-flavoured bubble tea, egg waffle with coriander and parsley, and egg waffle with basil. Customers can receive one of these scrumptious giveaways by uploading photos of Lok Fu Place’s Urban Farm or designated items to social media platforms as public posts with the hashtag #LokFuPlace.

Join the Urban Farm Tour and Grow Organic Veggies

During the campaign, customers who spend $1,000 or more at Lok Fu Place (with 2-5 original machine-printed receipts from at least two merchants) using electronic payment methodsin the 7-day period before redemption are entitled toreceivea”Microgreens Grow Kit”and a cash voucherto start living green, as well as quota for joining the Urban Farm Tour with two participants.

Terms and conditions apply. The programme is subject to change without prior notice.

For more details about the event, please visit Linkhk.com.

About Lok Fu Place”Herbal Harvest” Campaign

Date: 31 October

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Children badly injured after buggy somersaults down shopping centre escalator – World News

This is the harrowing moment two small children were left with nasty injuries after a pushchair plunged down an escalator at a shopping centre.

The pram somersaulted down the staircase in what was every parent’s worst nightmare.

The horrifying incident took place in Moscow, Russia, last week.

Police are said to be investigating to establish the whereabouts of the guardians with no adults seen in the clip.

CCTV shows two children – one wearing red and one in pink – holding a buggy at the top of the escalator.

They move forward, trying to navigate the escalator as they attempt to get to the lower floor.

The children are left alone at the top of the shopping centre escalator

The stroller then goes head over heels, taking the kids with it.

It flips three times before one of the children ends up upside down.

One child at the top then appears to run for help.

The two children were left with nasty head injuries after the horror fall.

Moscow police are now searching for their parents

Russian news website kp.ru reports the incident happened at a mall in Andropova Avenue in south Moscow.

The seven-second clip has left everyone demanding to know when the parents were at the time.

Authorities are now reportedly investigating how it happened.

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