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LaSalle acquires UK designer outlet portfolio for €717m

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LaSalle Investment Management has acquired two prime outlet centres in the United Kingdom, McArthurGlen Designer Outlet Cheshire Oaks and McArthurGlen Designer Outlet Swindon, for €717.3m (£600m) from Nuveen Real Estate. The investment was made through LaSalle’s growing Value-Add Investments business line. The assets will continue to be managed by McArthurGlen, Europe’s largest manager of premium designer outlets.

 

Most of the portfolio value is comprised of Cheshire Oaks Designer Outlet, the largest designer outlet in the UK, which benefits from a catchment area of over 14m consumers. Cheshire Oaks is spread over 400k ft² and made up of over 160 individual units, providing for a best-in-class shopping experience. The outlet caters primarily to premium brands, with Burberry, Polo Ralph Lauren and Nike amongst its key occupiers.

 

The smaller of the two assets, Swindon Designer Outlet, is ranked in the UK’s top 10 centres by turnover. Located within reach of major cities such as Bristol, Reading and Oxford, the Centre is over 250k ft² and has a catchment area of 14.5m consumers. The outlet offers visitors over 100 stores, with Tommy Hilfiger, Calvin Klein and Lacoste amongst the occupiers.

 

LaSalle intends to undertake targeted capex investment in both assets to expand event areas, increase car parking, enhance customer experience, and improve their ESG credentials. The portfolio benefits from an attractive, inflation-linked and turnover-based lease model.

 

Blake Loveless, Head of Value-Add Investments at LaSalle, said: “We’re thrilled to be working with McArthurGlen on this exciting venture.  These are two of Europe’s premier outlets and are well-placed within our value-add strategy, which targets attractive risk-adjusted equity returns for real estate investments across Europe.”

 

Michael Zerda, Head of Debt & Value-Add Strategies at LaSalle, said: “This transaction represents the first large-scale acquisition made by LaSalle’s reconstituted Value-Add Investments business line in Europe. We look forward to unlocking the full potential of this portfolio in the years to come for the benefit of our investors.”

 

John Ralston, McArthurGlen’s Regional Director, UK & Canada, added: “Having originally developed and managed the successful McArthurGlen Designer Outlets at Cheshire Oaks and Swindon since their openings in 1995 and 1997 respectively, we are delighted to be working with LaSalle on its new investment. This demonstrates our continued confidence in both Centres and in the outlet sector across Europe.”

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Bluewater grows its entertainment offer (GB)

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Landsec has announced the opening of a third ‘UK first’ attraction at Bluewater, Kent as the destination expands its partnership with Hangloose Adventures. Skydive, a free-fall experience not found anywhere else in Europe, and the UK’s only outdoor skydive machine has opened at the centre. It follows on from Europe’s biggest purpose-built giant swing, standing at 46-metre tall, which opened at Bluewater earlier this month.  

 

The announcement builds on a successful first year for Hangloose’s initial attraction Skywire, the longest zip wire in England, which has welcomed 30,000 guests since launching at Bluewater last June. Landsec will continue to work with Hangloose to expand its offering, with up to five more experiences set to open at the centre by 2024: a bungee tower, giant slide, clip and climb, waterdrop boulding wall, and Via Ferrata, a route-marked climb using metal rails and rungs embedded in Bluewater’s cliff walls.

 

Mark Warne, Brand Account Director F&B and Leisure at Landsec commented: “Delivering new experiences which are unique to Bluewater is central to our overall offer for guests. Hangloose’s innovative concept raises the bar when it comes to leisure attractions and draws guests from across the UK to Kent. By partnering with Hangloose to grow their business and create shared value, we’ll be able to give guests even more exciting experiences every time they visit.”

 

Brian Phelps, MD of Hangloose Adventure, said: “Since the beginning, we’ve worked closely with Landsec to grow our leisure concept and drive performance, putting us in a unique position where we’re able to expand our offer after only a year. We’ve enjoyed great success at Bluewater so far and are already thinking about how we can provide even bigger and better experiences in the future.”

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Author with immaculate house offers ten tips for a clean home

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Is this the secret to NEVER having to clean? Houseproud author claims she saves hours by sticking to a ten-step mantra – including banning chairs in bedrooms, wiping as you cook and only ironing shirts and dresses

  • UK writer Natali Juste Simmonds says she’s cracked keeping a home clean, by sticking to a few simple ground rules – and making sure family members comply
  • She shared top ten tips for keeping a home spotless with her 20,000 followers
  • Among them are ditching a toilet brush in the bathroom, not having a chair in the bedroom and cleaning  the kitchen while you cook

A houseproud author has revealed her ten essential tips for keeping a house spotless – saying simple ground rules for family members and cleaning as you go means never wasting time on dull chores. 

Writer Natali Juste Simmonds, who was born in the UK but now lives in the Netherlands, penned her top ways to keep on top of cleaning on Twitter, saying she has time to focus on her writing because she follows her own advice about dodging ‘thankless’ cleaning tasks. 

The author of a series of paranormal romance novels told her 20,000 followers on Twitter: ‘I know so many people who spend hours cleaning up after their family every day, but I refuse to. 

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UK writer Natali Juste Simmonds says she's cracked keeping a home clean, by sticking to a few simple ground rules - and making sure family members comply

UK writer Natali Juste Simmonds says she’s cracked keeping a home clean, by sticking to a few simple ground rules – and making sure family members comply

‘It’s boring and thankless. I prefer to write. Yet my house is spotless. Here are 10 ways to keep on top of s*** so you don’t have to clean for hours.’ 

Sharing her ‘tough love’ mantra, she said that the key to keeping a home clean is making sure every family member is engaged, saying learning how to tidy is a lifeskill that everyone needs – and no-one should get away with not doing it. 

Natali wrote: ‘Train everyone in the house to do the following (cats are the exception). After a while these habits will become routine, but you MUST stick to them and make sure no one is let off the hook.’ 

Among the tips are filling a bag with things that are in the wrong place at the end of every day and placing them back where they belong. 

Tidy home, tidy mind: The Netherlands-based writer shared her top ten tips for keeping a home spotless with her 20,000 followers on Twitter - saying that making sure everyone in the house pulls their weight is key (Pictured: An office area in Simmonds' home)

Tidy home, tidy mind: The Netherlands-based writer shared her top ten tips for keeping a home spotless with her 20,000 followers on Twitter – saying that making sure everyone in the house pulls their weight is key (Pictured: An office area in Simmonds’ home)

The writer also claims having a toilet brush doesn’t help keep a loo clean and dousing it with bleach instead is a more reliable way to ensure it’s sparkling. 

And getting used to wiping down mirrors after using a sink also helps, she claims, writing: ‘Keep a dry cloth next to the bathroom sink. Every time someone uses the taps or brushes their teeth, wipe down the counter and mirror. Takes literally 2 seconds. No cleaning toothpaste stains off counters.’

Teaching kids to pull their weight around the house is key to success, and equality reigns supreme in the Simmonds house. 

Among her top tips are ditching a toilet brush in the bathroom - using just bleach instead; not having a chair in the bedroom - to prevent people leaving clothes on them - and cleaning the kitchen while you cook (Pictured: Simmonds' very tidy office)

Among her top tips are ditching a toilet brush in the bathroom – using just bleach instead; not having a chair in the bedroom – to prevent people leaving clothes on them – and cleaning the kitchen while you cook (Pictured: Simmonds’ very tidy office)

‘If one kid lays the table, the other clears. If one hangs out the washing, the other collects. I don’t say “I need help with dinner” I say “who will chop the veg and who will wash up?” Its called a presumed close. I have no option, why should others in my house?’

The author, who has written books including the Indigo Chronicles trilogy and the Blood Web series, admits that having a cleaner is still useful…because they can help keep on top of areas where grime quickly builds, including fridges and ovens – but she suggests ditching a takeaway a week to cover the cost. 

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DIA Group closes 25 Minipreco stores in Portugal

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DIA Group has closed 25 Minipreco stores in Portugal, resulting in the loss of approximately 159 jobs. The retailer said the closures are the result of ‘the effort to adapt, modernise and balance the operations of DIA Portugal, with the aim of better preparing the company for current and future challenges arising from the current economic situation in the country,’ according to media reports. In the last two years, the multinational company operating in Spain, Portugal, Brazil, and Argentina, accumulated losses of over €620m.

 

In Portugal, net sales reached €283.1m in the first half, 4.5% below the €296.3m generated in the same period last year, due to the reduction of stores and mobility restrictions. DIA Group confirmed its intention to continue to invest in Portugal. The company hopes to adjust its operation to the current reality in order to ensure the future success of the company.

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