Shopping Centres all over the UK have taken a hit. The UK’s biggest retail landlords were forced to make £2.7 billion in write-downs on the value of their properties compared to just £232 million the year before, according to Growthdeck Property’s investment arm.
intu has reportedwrite-down of 1.3 billion last year, while Meadowhall owner British Land took a £620 million hit. Bluewater owner Land Securities was another victim in the crisis, writing down £422 million.
A great deal of property owners in the UK have found the value of their prized assets dwindling, as even the most well-known high street retailers are struggling and becoming less reliable sources of income.
