299
Fashion Jobs
L'OREAL GROUP
Assistant CRM Manager
Permanent · HONG KONG
L'OREAL GROUP
Key Account Manager
Permanent · HONG KONG
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
Published
May 17, 2023
Download
Download the article
Print
Text size

Leases, occupancy strong but British Land loss-making as interest rates bite

Published
May 17, 2023

First the good news. For the year ending 31 March, commercial property giant British Land leased out 3.4 million sq ft of space and portfolio occupancy is now 96.7%. Its focus on sectors with strong occupation also drove like-for-like net rental growth up 6% and there was also a 7% increase in underlying profit to report.


British Land/Meadowhall


But now for the not-so-good news. Higher interest rates meant the value of its property portfolio — which includes the Meadowhall mall — declined 12.3% as broader economic worries dented sentiment in the commercial real estate sector. And like its peer Landsec, the day before, the business swung to an annual pre-tax loss of £1.04 billion versus a profit of £965 million a year earlier.

But CEO Simon Carter remains upbeat after delivering “a good operational performance despite the challenging macroeconomic backdrop”.

And he also said the group expects rental growth of 2-4% in retail parks in the next 12 months, positive news given the sector now plays an increasing part in its portfolio. It recently acquired over £200 million of “high quality retail park, life sciences and London Urban Logistics assets at attractive prices".
 
The company is a major player in the retail parks segment. That segment is one of the most buoyant in the UK with it expanding from it usual supermarket and DIY stores profile to take in many more fashion and other retailers in recent years.
 
 

Copyright © 2024 FashionNetwork.com All rights reserved.