| 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 us: | info@incans.com |
Retail
Sigma Healthcare has abandoned early-stage talks over a potential takeover of Boots, saying the acquisition would not meet its strategic and capital investment objectives. The proposed deal could have valued Boots at around $10bn/£7bn, but Sigma said it would instead focus on existing growth opportunities, mainly in Australia, while keeping overseas expansion as a longer-term aim. The withdrawal adds further uncertainty over Boots’ ownership, with owner Walgreens Boots Alliance previously shelving a 2022 sale process and ongoing speculation around a possible trade sale or London stock market return. Boots reported revenue up 3.2% to £7.5bn and pre-tax profit up 25% to £337m for the year to August 2025, supported by demand for weight-loss treatments and beauty products (Retail Gazette, 16 June 2026).
Poundstretcher’s 300-store UK network has been secured after the High Court approved its restructuring plan, backed by 93% of voting creditors. The discount retailer, which employs around 3,000 people, had been seeking rent renegotiations with landlords amid tough trading conditions, but said no stores will close under the approved plan and that it now intends to invest in stores, people and product ranges. The restructuring follows its 2020 CVA and its 2024 acquisition by Fortress Investment Group, with the retailer highlighting operational improvements, supplier partnerships and range changes since the takeover (Retail Gazette, 15 June 2026).
Logistics
DHL Supply Chain announced plans to launch a new 194,000 sq ft automated healthcare logistics hub at Infinity Park Derby, supporting consumer health, pharmaceutical, medical device and animal health customers. The facility forms part of DHL’s wider £550m investment in automation and infrastructure across the UK and Ireland and is expected to create around 120 jobs, underlining continued demand for specialist healthcare logistics capacity in the UK (DHL, 17 June 2026).
Office
Catella APAM reported office occupier momentum across its UK portfolio, with key deals including Arup taking 20,000 sq ft at Citygate One in Newcastle on a 15-year lease and two public-sector lettings bringing Optima in Glasgow to full occupancy. The activity formed part of a wider letting programme across 10 UK cities and was supported by Catella APAM’s active asset management strategy, including refurbishment, space reconfiguration and repositioning assets to meet occupier demand (Catella APAM, 18 June 2026).
Other
Blue Owl Capital has expanded its Middle East presence with the opening of a new office in Abu Dhabi Global Market, which will serve as its regional headquarters in the UAE. The move reflects growing demand for alternative asset management in the region and follows similar Abu Dhabi expansions by firms including Barings and Bain Capital. Blue Owl, which has $315bn in assets under management, said the new office marks the next phase of its regional growth and strengthens relationships built in the Middle East over several years (Alternative Credit Investor, 10 June 2026).