Lloyds Banking Group's Business Barometer reports that 70% of UK businesses are expecting a stronger start to 2025 vs 62% entering 2024. Nearly 75% are confident of greater profitability.

Office for National Statistics reported that the UK economy flatlined in Q3 2024, a downward revision to previously reported 0.1% growth. As a result, the UK tied with Italy for the lowest growth in the G7 during Q3 2024.

Norwich City Council has acquired Anglia Square Shopping Centre in Norwich from Columbia Threadneedle Investments EMEA APAC for an undisclosed price (in June priced at £8.5m+). It will be redeveloped as a modern mixed-use hub providing around 1,100 homes.

CBRE Investment Management has acquired Snipe Retail Park in Ashton-Under-Lyne, Manchester, from Orchard Street Investment Management for £62m.

Lidl GB has reported a 7% increase in sales over the four-week period leading up to Christmas, with turnover at a record high of >£1bn for the first time in its 30-year UK history.

Co-op is set to open 75 new stores this year, part of wider plans to open 120 new stores over the next four years.

Altus Group reports that 412 pubs were either demolished or converted for other uses over the year to December. The overall number of pubs in England and Wales fell to below 39,000 for the first time, the sharpest annual fall since 2021.

Centre for Retail Research reports gloomy forecasts for the sector in 2025, with potentially >17,000 store closures and job losses >200,000. Increased costs and a failure to address business rates are key factors.

Nationwide Building Society reported a rise in UK house prices of 0.7% in December vs 1.2% in November. Y/y prices rose by 4.7%.

Mark Charlton – Real Estate Research Consultant at Waypoint