Tenant Watch issue 16 (06 July 2026). | / | Welcome to Tenant Watch, a regular newsletter from Income Analytics that summarises news affecting key occupiers of commercial property. Tenant Watch provides real estate brokers, investors and lenders with a summary of recent news articles focusing on financial health and future occupational requirements. | | Author: | Jack Baker | | Contact Incans: | [email protected] | Retail TG Jones, the former WH Smith high street business now owned by Modella Capital, has secured High Court approval for a restructuring plan that could see up to 150 stores close as part of efforts to avoid administration. The plan is expected to reduce lease liabilities across the store estate and unlock new funding to support the turnaround, although it faced opposition from several landlords over the scale of proposed rent cuts. Revised terms, including improved landlord concessions and a greater share of potential future upside, helped reduce opposition before approval was granted (Retail Gazette, 01 July 2026). Ocado is facing an escalating boardroom dispute as major shareholders push back against efforts to accelerate succession planning for founder and chief executive Tim Steiner, with several top-10 investors reportedly backing his continued leadership. The row has intensified after a leading shareholder called for the removal of chair Adam Warby, warning that investors representing around a quarter of Ocado's shares support his exit. The dispute comes as Ocado seeks to rebuild investor confidence following a sharp share price decline, setbacks with international partners including Kroger, and ongoing efforts to broaden its technology offering, including a recent software licensing deal with Asda (Retail Gazette, 30 June/03 July 2026). Matalan has secured extensions to its existing debt facilities, with anchor investors Invesco, Tresidor, Man Group and Napier Park agreeing to push maturities from December 2027 and January 2028 to April 2029. The retailer said the move reflects continued investor confidence in its turnaround strategy, following recent results showing its pre-tax loss narrowing to £55m and adjusted pre-IFRS 16 EBITDA rising 24% year-on-year to £69m, supported by higher sales volumes and improved margins (Retail Gazette, 29 June 2026). Pavăl Holding has completed its €823m acquisition of Carrefour Romania, including the retailer's operations, real estate assets and commercial funds in the country. The deal covers 55 hypermarkets, 191 supermarkets, 202 convenience stores and 30 Supeco discount stores, which together generated gross sales of €3.2bn in 2024 and 2025, representing around 3.5% of Carrefour's sales. The transaction, financed by Banca Transilvania, forms part of Carrefour's strategy to exit selected competitive markets and focus on France, Spain and Brazil (Eurobuild CEE, 01 July 2026). Logistics CMA CGM agreed to acquire FedEx Supply Chain for an enterprise value of US$1.4bn, in a deal expected to significantly expand CEVA Logistics' North American contract logistics operations. The combined business would operate around 150 warehouses and employ approximately 20,000 people across more than 240 locations, while CMA CGM and FedEx are also expected to enter into multi-year air and ocean freight agreements (CMA CGM, 01 July 2026). Office Barclays has acquired a long-term leasehold interest in its global headquarters at One Churchill Place from Canary Wharf Group, in a transaction valuing the leasehold interest at £750m. The deal gives Barclays control of the building beyond its current lease term, which runs to 2039, provides greater certainty over long-term occupancy costs, and supports continued investment in the 1m+ sq ft workplace, which has served as the bank's global headquarters since 2005 (Canary Wharf Group, 30 June 2026). PwC UK has agreed to take 350,000 sq ft of office space at One Eden in Canary Wharf, with completion expected in autumn 2026. The move follows plans to redevelop the firm's Charing Cross headquarters at Embankment Place and represents a major office letting for Canary Wharf Group (CoStar News, 02 July 2026). Welcome to Tenant Watch, a regular newsletter from Income Analytics that summarises news affecting key occupiers of... When Tenants Go Bad: How Landlords Can Anticipate and Manage Tenant Default Risk, April 2026 A special thanks to its... Welcome to Tenant Watch, a regular newsletter from Income Analytics that summarises news affecting key occupiers of... Join its CEO Matt Richardson on Tuesday 21st April as he chairs its first webinar of 2026. This session will focus on... Welcome to Tenant Watch, a regular newsletter from Income Analytics that summarises news affecting key occupiers of... Income Analytics webinar - Deploying AI in commercial real estate investment markets, June 2026 Income Analytics' most... Welcome to Tenant Watch, a regular newsletter from Income Analytics that summarises news affecting key occupiers of... Join its CEO Matt Richardson on Tuesday 30th June 2026 as he chairs another of its webinars where the focus will be on... Welcome to Tenant Watch, a regular newsletter from Income Analytics that summarises news affecting key occupiers of... Incans is pleased to announce the release of its new INCANS(R) income risk benchmarks for France and Germany, which is... Welcome to Tenant Watch, a regular newsletter from Income Analytics that summarises news affecting key occupiers of... When Tenants Go Bad: How Landlords Can Anticipate and Manage Tenant Default Risk, April 2026 A special thanks to its... Welcome to Tenant Watch, a regular newsletter from Income Analytics that summarises news affecting key occupiers of... Join its CEO Matt Richardson on Tuesday 21st April as he chairs its first webinar of 2026. This session will focus on... Welcome to Tenant Watch, a regular newsletter from Income Analytics that summarises news affecting key occupiers of... Income Analytics webinar - Deploying AI in commercial real estate investment markets, June 2026 Income Analytics' most... Welcome to Tenant Watch, a regular newsletter from Income Analytics that summarises news affecting key occupiers of... Join its CEO Matt Richardson on Tuesday 30th June 2026 as he chairs another of its webinars where the focus will be on... Welcome to Tenant Watch, a regular newsletter from Income Analytics that summarises news affecting key occupiers of...

Building a deliverable future for east London. On 18 March, ELBA, Queen Mary University of London and the East London Civic Advisory Network (ELCAN) convened over 150 representatives from the private, public and voluntary sectors to define a shared vision for growth in east London. Hosted by Canary Wharf Group (CWG), the Growth, Skills & Innovation: Building Prosperity in East London event brought together business, education, health, non-profits, communities and local authority leaders sharing key priorities aligned with regional and national policies. The event enabled ELBA, Queen Mary and ELCAN to capture diverse perspectives and map local insights and opportunities against wider strategic frameworks, building a vision that is ambitious, collaborative and deliverable. The event was opened by ELBA CEO Julie Hutchinson, with CWG's Sir Nigel Wilson covering the evolution of Canary Wharf, along with scene setting from Professor Colin Bailey, CBE, President and Principal of Queen Mary, and Rt Hon Sir Stephen Timms, Member of Parliament for East Ham. Lord Andrew Mawson OBE, Greater London Authority, KPMG, Barts Health NHS Trust, Queen Mary, CWG and Tower Hamlets Council for Voluntary Services led engaging panel discussions and roundtables, exploring how place-based collaboration drive inclusive growth, deliver deeper economic and social impact across the region. "East London is rich with talent, ambition, and resilience, but too many residents still face barriers to opportunity. By collaborating with Queen Mary University of London and others, we connect people with real opportunities - jobs, training, mentoring, and the confidence to thrive - ensuring that every young person knows that opportunity is for them, and that where you're born doesn't determine where you go." - Julie Hutchinson, ELBA Professor Colin Bailey, CBE, President and Principal of Queen Mary said: "At Queen Mary University we are committed to opening the doors of opportunity through excellence in education and research. We are a university that transforms lives, addresses inequalities, and makes new discoveries. We also continue to close the gap between talent and opportunity helping our students, many of whom are the first in their family to enter higher education, thrive academically and move confidently into leading careers. That's why events like this, which bring local leaders, businesses, and community groups together to discuss how we can create opportunities across east London, are so important. It is only through these collaborations that we will achieve our goal". - Professor Colin Bailey, CBE, President and Principal of Queen Mary ELBA, Queen Mary and ECLAN will keep our partners and stakeholders informed on how this work progresses.