When Lidl signed a deal to move into the former Marks & Spencer store in Luton’s Mall, it counted as a small win for shopping centre operator Capital & Regional (CapReg).
After a year in which commercial landlords have been banned from aggressively collecting unpaid rent, and lockdown closures have come thick and fast, small wins are important. Every tenant counts.
CapReg, led by Lawrence Hutchings, brings together the likes of grocers, gyms and hairdressers to create community hubs. It runs seven shopping centres in off-prime areas such as Hemel Hempstead, Hertfordshire and Walthamstow, northeast London. It also owns Snozone, an indoor ski slope.
The results last week gave an insight into the pain being felt in retail property. Over the past year, 17 CapReg