Jonathan Reynolds

By Jonathan Reynolds

Shopping centres hit by funding downturn

Although we do not want to risk being too parochial in our reporting of news stories, it is unusual for a retail development question to make the front page of the FT. In today’s paper, Shopping Centres hit by funding downturn reports on the amount of retail developments being shelved across the UK and, on page 3, the concerns being expressed in some circles about the ability developers Westfield will have in filling its new White City scheme in west London, especially in relation to luxury goods retailers.

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  • Jonathan

    On an even more parochial note, it was announced in August that the proposed redevelopment of Oxford’s Westgate Centre would be put on hold. Said Liberty International, CSCs holding company: “While we are positive about the long term prospects for Oxford as a retail destination, present market conditions do not meet our criteria for an immediate redevelopment of the Westgate centre.” This scheme was being discussed when I was a student in Oxford in 1976!