Good morning.
Walmart has entered exclusive talks with TDR Capital(£) and the Issa brothers over the sale of a majority stake in Asda(£). Asda owns around 75% of the freeholds(£) on its 631 store portfolio, making it an intriguing property play.
The Telegraph (£) takes a closer look at TDR’s partners, Mohsin and Zuber Issa.
Shares in Great Portland Street rose to a high of 623.2p before closing at 610.4p, their highest closing price since mid-July. News that KKR had bought a 5.35% stake had encouraged chatter of “London office M&A potential”(£).
Casino giant Caesars Entertainment(£) may sell William Hills’ 1,400 betting shop(£) portfolio if its £2.9bn takeover is successful(£). Betfred(£) is believed to be interested.
No Côte Restaurants will be closed following the chain’s pre-pack administration sale to Partners Group.
Creditors of Pizza Hut Restaurants(£) have voted to approve its CVA, closing 29 of its 244 sites.
Meanwhile Boots is facing accusations of using the moratorium on evictions as cover for aggressive lease renegotiations(£).
The FT’s Lex column(£) says that Boots is likely to reap what it sows.
Shopper numbers have fallen by 3%(£) since the government’s 10pm curfew was introduced.
The cardinal who resigned over the continuing Vatican property scandal oversaw up to £100m of other London property deals(£).
August is usually a quiet month for auctioneers, but not this year, says Harold Benjamin Solicitors’ John Townsend.
Savills’ latest remote sale raised its second highest total for the year.
While at Bid X1 two Liverpool shopping centres sold for far more than their combined reserve price.
China’s plans to relocate its UK embassy(£) to the East End of London is facing opposition.
A number of celebrated Napa Valley wineries have been destroyed(£) by wildfires that continue to rampage through California.
And finally, as property kingpin-turned-president Donald Trump prepares for tonight’s debate with rival Joe Biden, all eyes will be glued to his hair. Just what exactly does $70,000 get you(£)? He should have paid an extra $25,464. Ivanka’s hair looks much nicer.
