Hotels & Leisure

Moorgarth raises fund to buy £100m of restructuring assets

Vehicle will target retail and leisure sectors
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Fitch makes series of CMBS downgrades

Westfield, intu and Landsec debt all see outlook turn negative
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London landlords call on chancellor to review rates relief

Fears banks will look to take control
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£510m MAG sale contract torn up post exchange

Legal technicality allows buyer to withdraw from agreement
  • The fund manager was able to exercise a Material Adverse Conditions clause
  • The parties are still in conversation in order to try and agree a new deal
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Q+A: Landsec chief Greenslade on rent shortfalls, banks and M&A

Interim boss steering the ship
  • REIT trying to engage with occupiers on rent collection
  • Landsec looking to utilise government bond financing scheme
  • M&A in sector "clearly possible"
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Landsec receives only 65% rent across portfolio

Company latest to slash dividend
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Savills predicts 32% drop in Dublin hotel development pipeline

Occupancy rates in Dublin have fallen 90% due to coronavirus
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Qatari investor buys Ritz from billionaire Barclay brothers

Qatar-based private investor has bought the iconic hotel
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Bristol hotel sells for just over £24m

UK property company has snapped up a hotel at Bristol airport
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