Latest news with #BritishLand
Fashion Network
6 days ago
- Business
- Fashion Network
River Island on the brink if restructuring plan not approved
If not, it 'will effectively run out of money by the end of August', the newspaper reported and 'will not be able to continue trading as a going concern'. That would mean administration or insolvency proceedings. River Island has blamed rising costs in recent years and the shift to online shopping, which means its 'large portfolio of stores… is no longer aligned to our customers' needs'. The warning comes in the formal restructuring plan produced by advisers PwC, which says the business will otherwise face a £10 million 'funding need' in early September. That need will add up to £50 million before the end of 2025. It's a tough situation for a company that's one of the UK's key affordable fashion retailers and that employs 6,250 people. Of those, 5,300 are in its stores and 950 at its West London HQ. As with some previous fashion sector restructurings during the last decade, the plan is likely to be opposed by some landlords who feel they're often made to endure the most pain when retailers run into trouble. And opposition is understandable when those owning some of those 71 stores are being asked for three-year rent cuts of at least 25% and up to 75%, or to accept no rent payments at all. The newspaper said that affected landlords would include British Land, the Crown estate and Frasers Group, which has been moving into the property space in recent years. Local councils would also be affected as River Island seeks to leave behind business rates arrears. A company spokesman told the newspaper: 'River Island circulated its proposals for a restructuring plan to creditors on June 20. In combination with the company's ongoing Transformation Strategy, the plan is a proactive measure to place the company on a firm footing. We have been having positive conversations with key stakeholders and are confident that we will achieve approval of the plan in the next few weeks.'
Fashion Network
6 days ago
- Business
- Fashion Network
River Island on the brink if restructuring plan not approved
If not, it 'will effectively run out of money by the end of August', the newspaper reported and 'will not be able to continue trading as a going concern'. That would mean administration or insolvency proceedings. River Island has blamed rising costs in recent years and the shift to online shopping, which means its 'large portfolio of stores… is no longer aligned to our customers' needs'. The warning comes in the formal restructuring plan produced by advisers PwC, which says the business will otherwise face a £10 million 'funding need' in early September. That need will add up to £50 million before the end of 2025. It's a tough situation for a company that's one of the UK's key affordable fashion retailers and that employs 6,250 people. Of those, 5,300 are in its stores and 950 at its West London HQ. As with some previous fashion sector restructurings during the last decade, the plan is likely to be opposed by some landlords who feel they're often made to endure the most pain when retailers run into trouble. And opposition is understandable when those owning some of those 71 stores are being asked for three-year rent cuts of at least 25% and up to 75%, or to accept no rent payments at all. The newspaper said that affected landlords would include British Land, the Crown estate and Frasers Group, which has been moving into the property space in recent years. Local councils would also be affected as River Island seeks to leave behind business rates arrears. A company spokesman told the newspaper: 'River Island circulated its proposals for a restructuring plan to creditors on June 20. In combination with the company's ongoing Transformation Strategy, the plan is a proactive measure to place the company on a firm footing. We have been having positive conversations with key stakeholders and are confident that we will achieve approval of the plan in the next few weeks.'
Yahoo
20-07-2025
- Business
- Yahoo
Low P/E ratios, yields up to 9%! Are these the FTSE 250's best value stocks?
I do love a bargain, whether it's hitting the high street or filling my portfolio with cheap UK shares. And doing some research over the last week, the following FTSE 250 shares have attracted my attention. Each trades on a rock-bottom price-to-earnings (P/E) ratio. They also carry a dividend yield that could supercharge investors' near-term passive income. But are they really bona-fide bargains, or are they simply classic value traps? A bright dividend share Foresight Solar Fund (LSE:FSFL) has exceptional appeal as an income share, in my view. Cash flows are broadly stable, thanks to the defensive nature of its operations, along with its inflation-linked turnover and long-term government-backed contracts. This has given it the strength to raise dividends every year since its IPO in 2013. Dividends are paid quarterly, too, allowing investors the chance to reinvest their income more regularly. Today its dividend yield is an enormous 8.9%. That's not to say dividends are completely without risk. Power generation can dip sharply when solar radiation falls. Changes to government support could also hamper future dividend growth and yields. Yet I still feel it's more secure than most other dividend-paying shares. It also trades on an undemanding P/E ratio of 10.6 times. Cyclical dangers Real estate investment trusts (REITs) like British Land (LSE:BLND) can be great ways to source a second income. Under sector rules, a minimum of 90% of annual rental earnings should be paid out in dividends. But I'd have significant reservations about parking my cash in this FTSE 250 share. Through its large retail portfolio spanning malls, shopping parks, and high street outlets, it faces significant structural threats like e-commerce alongside cyclical dangers. Its leisure and office outlets are also sensitive to the worsening UK economy, with the latter also under threat from the 'work-from-home' trend. I prefer its plans to expand in the high-growth urban logistics sector. This has substantial long-term potential as online shopping continues to grow. But today, this forms only a small part of the company's overall portfolio. Not even British Land's low P/E ratio of 5.8 times and 6.6% dividend yield are enough to encourage me to invest. Please note that tax treatment depends on the individual circumstances of each client and may be subject to change in future. The content in this article is provided for information purposes only. It is not intended to be, neither does it constitute, any form of tax advice. Another reliable dividend stock Primary Health Properties (LSE:PHP) is a REIT I'd prefer to add to my portfolio. I already hold its shares in my ISA, in fact. And its cheap P/E ratio of 11.2 times and high 7.3% dividend yield are tempting me to buy more. Along with Foresight Solar, I think it's one of the FTSE 250's most attractive value and dividend stocks. Like the aforementioned renewable energy stock, its operations are largely unchanged by outside economic factors. Furthermore, around nine-tenths of rents are guaranteed by government bodies such as the NHS. These benefits allow it to pay a large and growing dividend every year. At Primary Health Properties, cash rewards have risen every year since 1998. Future earnings and dividends could be impacted by changes to health policy. But I'm confident over the outlook here, as the UK's rapidly ageing population drives demand for additions and upgrades to primary healthcare facilities. The post Low P/E ratios, yields up to 9%! Are these the FTSE 250's best value stocks? appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Royston Wild has positions in Primary Health Properties Plc. The Motley Fool UK has recommended British Land Plc, Foresight Solar Fund, and Primary Health Properties Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Sign in to access your portfolio
The Independent
16-07-2025
- Business
- The Independent
Workspace braces for more large firms to ditch London office spaces
London flexible office provider Workspace is bracing for large firms to continue vacating, despite signs of midweek office work returning to pre-Covid levels in the capital. Workspace said it was focused on rebuilding occupancy and taking a 'pragmatic' approach to pricing. The London-listed company said it was still seeing larger customers vacating over the latest quarter, after previously warning investors over the retreat. This is set to continue over the coming months with the company expecting more businesses to ditch its buildings in Camden. Occupancy dipped by 0.3% between April and June to total 82.2%, Workspace said. The business has previously flagged that confidence among some of its customers has been weakened by wider economic uncertainty. It comes despite signs that midweek office work has rebounded – with property giant British Land recently saying occupancy across its estate had returned to pre-Covid levels in central London. Nevertheless, recent official data showed that 28% of the UK workforce remained in hybrid work, meaning spending some days at the office or at home. Workspace owns a portfolio of about 65 properties across London and the south-east of England, providing units to some 4,000 businesses. At the end of the latest quarter, rents totalled £138.6 million, down slightly on the previous quarter. 'As expected, occupancy declined slightly in the quarter and we have more large vacations to come in Q2 (the second quarter),' Lawrence Hutchings, Workspace's chief executive said. 'Our immediate focus remains on stabilising and, over time, rebuilding occupancy.' Mr Hutchings said it was taking action to 'retain and attract more customers', including refurbishments at some of its sites and targeting marketing efforts for local offices with fewer occupants. He added that the group had sold lower-performing sites, most recently in the Brentford and Ladbroke Grove areas, for a combined £15 million.
Daily Mail
02-07-2025
- Business
- Daily Mail
Prefab flat in Mayfair sells for more than £15m after ferocious bidding war
A prefab in Mayfair has been sold for more than £15million after a ferocious bidding war. Rival buyers around the globe pushed the price of the three-bedroom flat in central London 'well above' the £15million asking price, according to the PrimeResi property website. That is likely to make it one of the most expensive prefabs every sold. The desirable residence is in the Clarges building on Piccadilly. The apartment, which is three times the size of the typical UK home, has views over Green Park towards Buckingham Palace. The Clarges was built between 2015 and 2017 by development giant British Land using cutting-edge 'prefab' or 'modular' techniques. The materials were manufactured in a specialist Laing O'Rourke factory and assembled on site, a method chosen to limit obstruction to traffic and disruption to passers-by. Such was the attention to detail that the railings on the balconies mimicked the lacework of the 'piccadill' lace ruffs that gave Piccadilly its name. Previously the plot was occupied by offices and a cark park. Prefab construction may be associated with shoddy workmanship. But such was the appeal of the finished product at Clarges that the penthouse sold in 2019 for £55million. This is possibly the top value ever fetched by a 'prefab'. But then the block does offer a concierge service, a swimming pool, a cinema, treatment rooms and the other extras deemed necessary in a luxe scheme appealing to ultra-high net worth individuals. The stampede to acquire the Clarges flat has drawn attention particularly because of the stagnant state of the central London property which has been hit hard by the Chancellor's tax measures, particularly the changes to the regime covering non-doms. If the flat's new owner was resident overseas and has other homes, as much as £2.7million in stamp duty would have been charged on the transaction. How to find a new mortgage Borrowers who need a mortgage because their current fixed rate deal is ending, or they are buying a home, should explore their options as soon as possible. Buy-to-let landlords should also act as soon as they can. Quick mortgage finder links with This is Money's partner L&C > Mortgage rates calculator > Find the right mortgage for you What if I need to remortgage? Borrowers should compare rates, speak to a mortgage broker and be prepared to act. Homeowners can lock in to a new deal six to nine months in advance, often with no obligation to take it. Most mortgage deals allow fees to be added to the loan and only be charged when it is taken out. This means borrowers can secure a rate without paying expensive arrangement fees. Keep in mind that by doing this and not clearing the fee on completion, interest will be paid on the fee amount over the entire term of the loan, so this may not be the best option for everyone. What if I am buying a home? Those with home purchases agreed should also aim to secure rates as soon as possible, so they know exactly what their monthly payments will be. Buyers should avoid overstretching and be aware that house prices may fall, as higher mortgage rates limit people's borrowing ability and buying power. What about buy-to-let landlords Buy-to-let landlords with interest-only mortgages will see a greater jump in monthly costs than homeowners on residential mortgages. This makes remortgaging in plenty of time essential and our partner L&C can help with buy-to-let mortgages too. How to compare mortgage costs The best way to compare mortgage costs and find the right deal for you is to speak to a broker. This is Money has a long-standing partnership with fee-free broker L&C, to provide you with fee-free expert mortgage advice. Interested in seeing today's best mortgage rates? Use This is Money and L&Cs best mortgage rates calculator to show deals matching your home value, mortgage size, term and fixed rate needs. If you're ready to find your next mortgage, why not use L&C's online Mortgage Finder. It will search 1,000's of deals from more than 90 different lenders to discover the best deal for you. > Find your best mortgage deal with This is Money and L&C Be aware that rates can change quickly, however, and so if you need a mortgage or want to compare rates, speak to L&C as soon as possible, so they can help you find the right mortgage for you.
