02 June 2006
Property Week
View all stories from this issue.
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... but require ‘leap of faith' from investors
02 June 2006
The difficulty of securing a mandate and the lack of a transparent trading exchange have been identified as two of the biggest barriers preventing investors entering the nascent property derivatives market.
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£2bn property swaps forecast for 2006
02 June 2006
The biggest champions of the property derivatives market are confident that the volume of trades will double to £2bn this year as banks and foreign hedge funds realise the benefits of investment in swaps.
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20-30-40-50
31 May 2006
Each week Ettie Neil-Gallacher meets a property figure from a different age bracket. Rikke Mikkelsen, 32, is head of investment at retail property specialist Hammond Phillips
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A commonwealth of gold
02 June 2006
Scottish Rugby and Commonwealth Games sporting heroes joined the Scottish stars of property in Glasgow for the Scottish Property Awards 2006. Scotland rugby captain and Calcutta Cup victor Jason White, a string of medallists and comedian Ed Byrne were the stars of the sixth Scottish Property Awards on 17 May. Miller was named Developer of the Year while Byrne and BBC sports presenters Dougie Donnelly and Hazel Irvine entertained. The event, at the Glasgow Hilton, also raised more than ...
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A five grand day out
02 June 2006
To Cushman & Wakefield's late spring auction last week at the BAFTA headquarters in London's Piccadilly.
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Agency 2006
02 June 2006
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Agency 2006: UK professional firms compared
02 June 2006
Property Week’s annual survey of the UK’s top property services companies clearly shows the impact of the red hot investment market. As the good times continue to roll, respondents have reported an average increase in turnover of 16% since last year. How to continue the boom when the investment market cools off is the number one preoccupation for next year.
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Ask Developments
02 June 2006
Ask Developments has revealed new images of its plan for its Central Spine site, which is being considered by the BBC in Manchester. The site, near the A57, is to host the 22 acre (8.9 ha) £850m Media Zone. Ask is seeking preferred developer status from the council.
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BPF joins up
02 June 2006
Sir, The British Property Federation very much supports your campaign to expunge the cowboys from the agency market.
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Brixton addresses council worries in new X2 plans
02 June 2006
Brixton this week resubmitted its planning application for its X2 two-storey warehouse scheme near Heathrow after its first application was refused.
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Cambridge Place to float Euro company
02 June 2006
Crownstone to be listed with ex-Hammerson chief Spinney as chairman
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Caption competition
02 June 2006
The Cluttons caption competition that I launched two weeks ago certainly captured your imagination.
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Case news
02 June 2006
40 is the new 30
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CIREF to develop £210m Newport shopping centre
1 June 2006
CIREF, the AIM-listed property investment and development company, has agreed to develop a £210m shopping centre in Newport, south Wales
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City View: James Whitmore
02 June 2006
Three years ago DTZ chief executive Mark Struckett was forced on to the defensive when his company's share price was languishing at around 50p, valuing it at a paltry £28m.
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Citygrove appoints senior property duo to team
02 June 2006
Citygrove, the developer co-founded by Toby Baines in 1990, has recruited two well-known property people to boost its management team.
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Cornering shops
02 June 2006
CB Richard Ellis, the largest firm in Europe, bought Dalgleish last year, but which retail agent will be the next target for the big boys?
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Crest Nicholson
02 June 2006
Crest Nicholson has secured Cranmer House in Chertsey as its headquarters. The developer purchased the freehold of the 10-year-old, 23,000 sq ft (2,137 sq m) building from Henderson Global Investors for an undisclosed sum. DTZ acted for Henderson.
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Crossrail more important than Olympics, says mayor
6 June 2006
Mayor of London Ken Livingstone today launched a campaign with business and trade union leaders to promote Crossrail, the underground rail system linking east and west London that is anticipated to cost £11bn to build
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Dawnay Day rises with further Euro retail purchases
2 June 2006
Dawnay Day Carpathian, AIM's biggest retail commercial property company, has completed a further €188m (£129.2m) of retail property acquisitions in central Europe
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Derivatives destined for integral market role ...
02 June 2006
Property industry's fantasy trading game builds confidence in derivative instruments
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Develica launches €1.25bn German fund on AIM
02 June 2006
Private property company Develica listed a €1.25bn (£857m) German retail and office fund on AIM this week.
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Developers submit Euston and Victoria plans
6 June 2006
Some of the biggest names in property today submitted proposals to Network Rail to redevelop Euston and Victoria stations in London
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Diary of… a rent
02 June 2006
Roger Sewell, head of landlord and tenant at Montagu Evans, takes us through his week
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Don't get mad, get Eden
02 June 2006
Kingston upon Thames hopes Hammerson's £500m Eden Quarter will help arrest its retail decline.
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EDAW to masterplan in east Manchester
02 June 2006
Cibitas Investments, New East Manchester URC and Manchester City Council last week appointed EDAW to lead a team that will masterplan an 84 acre (34 ha) site in east Manchester.
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Enemies at the Gateway
02 June 2006
While a change of control at Croydon council has raised hopes of resolution at the key Gateway site, other developers are pushing ahead with schemes. Stuart Watson reports
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Fifteen firms wait in wings for Exeter airport
02 June 2006
Devon County Council has drawn up a 15-strong shortlist, including property companies Castlemore and Peel Holdings, to buy the whole of Exeter International Airport with the adjacent Sky Park land.
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Flexible design suits both landlord and tenant
02 June 2006
As central London's occupational markets pick up, beware the white elephant, says Paul Boden
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Foreign investors double City property holding in 10 years
02 June 2006
But fragmented ownership raises long-term concerns, says DevSecs report
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Frogmore's £1bn fund transition
02 June 2006
White's outfit seeks opportunities after raising cash
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Games organisers reveal final Olympic Park masterplan
7 June 2006
The London 2012 Olympic Games organisers today unveiled the revised Olympic Park masterplan for the 500 acre (203 ha) site in Stratford
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Gazeley's 1m sq ft Kent application
02 June 2006
Industrial developer Gazeley is to submit a planning application for more than half its 126 acre (51 ha) scheme in Sittingbourne, Kent.
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German fund manager
02 June 2006
German fund manager Deka this week brought its building at 10 Stratton Street in Mayfair to the market with a guide price of £59m at a net initial yield of 4.25% as part of its disposal programme. The 41,000 sq ft (3,809 sq m) building is fully let to GVA Grimley until March 2015 at a rent of £64/sq ft (£688.90/sq m). Savills and CB Richard ...
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Giant steps
02 June 2006
Staffordshire's industrial market is hot. While down in the West Midlands you may struggle to assemble a site, further north in Staffordshire, land is plentiful and developers are quickly gaining planning permission to boost supply.
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Grosvenor UK chief Musgrave switches to lead Hines
1 June 2006
Stephen Musgrave is to join US developer and investor Hines in October as UK managing director after his departure from Grosvenor
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Grosvenor UK chief Musgrave switches to lead Hines
02 June 2006
Developer goes ‘back to his roots' in replacing Philip Lewis at US group
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Hanover square
02 June 2006
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Heron lands on City of London's Barbican tower
1 June 2006
Gerald Ronson's Heron International has been selected as preferred development partner for the largest residential-led development opportunity in the City of London
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HML follows Erinaceous to mark
02 June 2006
A small property management company plans to replicate the success of Erinaceous this month by floating on AIM.
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JLL hosts biggest auction of 2006
02 June 2006
Number two auction house puts Allsop under pressure for top spot
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Keele University secures 70 acre campus extension
02 June 2006
Newcastle-under-Lyme council grants permission for third phase of campus and science park site
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Lead Asset Strategies unveils Liverpool dock plans
5 June 2006
Lead Asset Strategies, chaired by Raj Basu, has today unveiled its plans for a £130m mixed-use development on Liverpool's waterfront
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Liberty Land goes on €230m German spree
02 June 2006
Liberty Land, the UK-based property fund manager and investment adviser, has agreed to buy €190m (£130m) of German property.
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Local wins 24-year land registration crusade
02 June 2006
The House of Lords has backed a campaigner who wants to register land near her home as a village green to protect it from development.
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Lovejuice to splash out on 50 new UK stores
5 June 2006
Juice bar chain Lovejuice is to open more than 50 new stores around the UK after being given an injection of cash
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LTA faces new court battle with Queen's members
02 June 2006
By demonstrating ownership rights, members hope to acquire tennis club at knockdown price
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Malaysia Airlines embarks on surplus sale
02 June 2006
Malaysia Airlines is to sell its surplus property assets as part of a business recovery strategy.
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Matrics reloaded
02 June 2006
In the latest of our monthly features on young property professionals, Ettie Neil-Gallacher reports on the RICS Matrics' annual conference in Belfast last month
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Mayor's green targets ‘miss the point'
02 June 2006
Industry slams 20% renewable energy goal in revised London Plan
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Morrisons to offload three Safeway legacy sheds
02 June 2006
Cost-cutting supermarket shortlists buyers for 40 acre Kent distribution site
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Never mind the cost: charities benefit from paying full whack
02 June 2006
Sir, Your recent piece on advisers to charities (‘The goodies', professional + legal, 21.04.06), while well intentioned, confuses two important principles, which can work against one another if not clearly differentiated.
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New mould for Terry's of York
02 June 2006
York-based developer Grantside has unveiled its proposals for the former Terry's chocolate factory site in York.
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Nuclear fallout
02 June 2006
The government faces a legal challenge over its proposals to ‘fast track' new nuclear power stations through the planning system.
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People
02 June 2006
This week's movers
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Pharmaceuticals group prescribes JLL to portfolio
7 June 2006
Jones Lang LaSalle announced today that it has been picked by a worldwide pharmaceuticals group to manage all of its property
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Planning
02 June 2006
Hopes for certainty in the planning system are wishful thinking
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Planning appeals
02 June 2006
Chicken coup
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Price is right for Cordea Savills fund
02 June 2006
Former Pillar Property finance director to become non-exec chairman
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Professional advice
02 June 2006
This week, a defective title indemnity policy, court costs and liability for a lease assignee's actions
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Professional takeovers look to be a tasty bet
02 June 2006
Our annual look at the world of agency (analysis + opinion, p29-p36) shows a sector in rude health, but not without its problems to resolve.
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Quintain first to shun REIT conversion
02 June 2006
Vehicle will not suit regeneration specialist's business model
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Recovery becomes a boom
02 June 2006
Restricted supply and economic climate sustain house price rises, says Milan Khatri
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Retailers' out-of-town rent review plea
02 June 2006
Curry's, Matalan and Argos ask RICS to resolve arbitrator shortage
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Royal Bank's second sale and leaseback
02 June 2006
Bank to market second UK-wide portfolio
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Salford to slap family house quotas on new resi schemes
02 June 2006
Council is first to dictate mix and type of homes
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Scottish Property Awards
02 June 2006
Scotland rugby union captain and Calcutta Cup winner Jason White (left) and BBC sports presenter Dougie Donnelly (right) were among the stars at the Scottish Property Awards on 17 May.
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Scottish Widows launches property securities fund
02 June 2006
Scottish Widows Investment Partnership has launched a UK property securities fund.
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Sentrum logs on to Croydon
02 June 2006
Global Switch founder Andy Ruhan's new venture, Sentrum, has secured its second site in the southern M25 corridor.
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Slough Estates announces new chairman
2 June 2006
Slough Estates today announced the appointment of the long-term successor to its late chairman Sir Nigel Mobbs
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Staffs + Shrops
02 June 2006
Keele University secures 70 acre campus extension Telford rail freight terminal to be approved The market in minutes Stoke means business USS and them Giant steps
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Stoke means business
02 June 2006
Plans for a central business district in neglected Stoke-on-Trent could bring the city out of its decline.
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Stop gambling: it's time to degear
02 June 2006
The investor's chronicle, with Matthew Oakeshott
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Strettons' London event achieves 84% success rate
02 June 2006
Strettons hosted its most successful London sale since November 2003 last Monday, when 84% of a 120-strong catalogue went under the hammer, raising just less than £24m.
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Surrey + London boroughs south
02 June 2006
Woking and Walton hit by large occupiers exodus Sentrum logs on to Croydon Crest Nicholson The market in minutes Don't get mad, get Eden Enemies at the Gateway
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Teesland IOG acquires Swedish portfolios
1 June 2006
Teesland IOG has bought two portfolios of Swedish property for £24m, reflecting a net initial yield of 8.9%
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Telford rail freight terminal to be approved
02 June 2006
Telford and Wrekin Borough Council, English Partnerships and the Ministry of Defence are set to approve the development of a rail freight terminal north of Telford.
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Terrace Hill
02 June 2006
Terrace Hill has sold its 70,000 sq ft (6,503 sq m) office development in Swansea to private clients of GVA Grimley for £16.6m - a record low yield for Wales of 4.9%. The Welsh National Assembly has sublet the building to Admiral Insurance at £12.75/sq ft (£137.24/sq m). Lambert Smith Hampton and Knight ...
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Text me maybe one more time
02 June 2006
Party Near the Park, Land Aid's night of musical mayhem, is nearly upon us.
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The 10% rule will choke the UK REIT market
02 June 2006
Renegotiating international tax treaties is the only viable option, says Melville Rodrigues
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The dam busters
02 June 2006
Black Tomato, the extreme travel company founded by three ex-City traders, struck gold with the bravest of the property boys.
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The largest-ever ‘in the room' sale... nearly
02 June 2006
A presale offer ‘well in excess of guide price' prevented Cushman & Wakefield from executing the UK's biggest-ever commercial property lot sale ‘in the room' at its May auction last Thursday.
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The London Borough of Redbridg
02 June 2006
The London Borough of Redbridge this week began a search for a developer for the £100m Unity Square scheme in Ilford. The 4.2 acre (1.7 ha) site will have 500 homes, a town square, replacement theatre, and retail and leisure. Drivers Jonas is acting for the council.
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The market in minutes
02 June 2006
Sean McAllister gives you the lowdown on all the sectors across the region
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The market in minutes
02 June 2006
Stuart Watson gives you the lowdown on all the sectors across the region
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The Odyssey Pavilion
02 June 2006
The Odyssey Pavilion in Belfast, Northern Ireland's biggest leisure complex, is reportedly on the market for around £100m. Mar Properties founder Adam Armstrong is believed to be in advanced talks with Belfast-based Sheridan Group to buy the 200,000 sq ft (185,80 sq m) venue in the city's docklands. The complex's facilities include a 10,000 seat arena, cinemas, nightclubs, and pubs.
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The older regeneration
02 June 2006
Sir, You state in your leader that regeneration hardly existed before John Prescott and 1997 (analysis + opinion, 12.05.06).
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The worldwide wed
02 June 2006
Everyone knows about global agents' mega-mergers. But how have looser alliances fared?
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Time for action
02 June 2006
Property Week's campaign to clean up residential estate agency is gathering support from outside and inside the property industry. For too long unregulated, unqualified cowboys have been a stain on the property world. Now the industry itself needs to say ‘enough is enough'. Here are a selection of your letters of support for our campaign.
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Toast for the lawyers
02 June 2006
An invitation to lunch on a floor of an empty office building generally means one thing: a letting agent giving the hard sell over the canapés to lease the empty space.
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USS and them
02 June 2006
Landowner and developer USS is reluctant to work with Telford's local council, delaying the town's development.
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Westminster eyesore goes
02 June 2006
London's County Hall island block, one of the capital's biggest eyesores, is being demolished to make way for a £300m hotel being developed by Galliard Homes and Frogmore.
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Woking and Walton hit by large occupiers exodus
02 June 2006
NTL, Unilever and Air Products on hunt for new headquarters after corporate shake-up
