United Kingdom Retail Tender

Values of UK shopping centers and high street stores could be reduced significantly after property agents were told to reflect the seismic changes sweeping the retail industry the Sunday Times reported.The Royal Institution of Chartered Surveyors told valuers to be aware of the potential for significant changes in value in retail properties the newspaper reported without saying where it got the information. RICS also instructed agents to use the widest amount of information to factor in huge changes in shopping patterns and valuers should take analysis and commentary into account as well as deal prices the paper said.Last months instruction from RICS could lead to bigger asset value declines for retail landlords such as Hammerson Plc Intu Properties Plc British Land Co. and Land Securities Group Plc the Sunday Times said.UK retailers posted the worst Christmas since 2008 amid the rise of online shopping and increasing concerns about Brexit. More than 20 retail chains instructed accountancy firm Deloitte LLP in the past two months to assess whether theyre able to restructure their debt the Sunday Times reported last week. Billionaire Philip Green has started a radical review of Arcadia and may close scores of shops according to the Telegraph.