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08 May 2009

Property Week

View all stories from this issue.

  • 10 Trinity Square gets go ahead

    7 May 2009

    The refurbishment of 10 Trinity Square has been given the go ahead by the City of London Corporation.

  • 76 extra units for sheltered accommodation in Middlesex

    08 May 2009

    Octavia Housing & Care and Harrow Churches Housing Association have won planning consent to redevelop sheltered accommodation at Richards Close, Harrow, Middlesex, into 47 ‘extra care’ units and 29 social housing units and community facilities. Savills is advising.

  • Abbey to relax criteria for msome mortgages

    14 May 2009

    Abbey, the country’s second-largest mortgage lender, will relax the lending criteria on its most popular home loans tomorrow, providing a significant boost to the mortgage market.

  • Aberdeen hosts young property people event

    08 May 2009

    Law firm McGrigors and property consultant Ryden are hosting an event for young Aberdeen property professionals

  • AEW completes second sheds deal this week

    12 May 2009

    AEW Europe has bought two distribution warehouses in France for €28m for its core-plus fund, Curzon Capital Partners II.

  • AEW Europe buys €119.5m PEPR portfolio

    12 May 2009

    AEW Europe has bought a €119.5m portfolio of properties in the Netherlands and Germany from ProLogis European Properties.

  • AIG close $1bn Tokyo tower sale

    11 May 2009

    American International Group Inc is close to selling its Tokyo headquarters building to Nippon Life Insurance Co., Japan’s largest life insurer, for about $1bn, a person familiar with the situation said.

  • AIG nets $1.2bn for Tokyo building

    12 May 2009

    The transaction, which would be among the biggest divestitures AIG. has made to reimburse the federal government for its huge infusion of aid, is expected to close in the second quarter.

  • Airbus seeks to taxi into newer premises at Filton

    08 May 2009

    Aircraft manufacturer Airbus is looking for a development partner for around 400,000 sq ft of office, research and development space

  • Al Mazaya seeks control of Dubai firm

    13 May 2009

    Al Mazaya Holding, a Kuwaiti property developer, is seeking to increase its control of First Dubai, a Dubai property firm. It already owns 67% of the company and has hired Kuwait’s Al Shall Consulting to advise on purchasing the rest.

  • Aldar to meet debt investors to 'test water'

    13 May 2009

    Real-estate developer Aldar will talk to regional and international investors this week but says it has no immediate plans to sell bonds.

  • APC Advice - Week 42: Month 21 final assessment - presentation and preparation (part 1)

    15 April 2011

    Jon Lever focus on the start of preparation for the final assessment, and Ben Elder looks at the competency on housing aid or advice

  • April drop in home listings across US

    12 May 2009

    The number of homes listed for sale in many U.S. cities continued to fall in April in what some analysts see as a sign that the market may be nearing a bottom. But the picture is clouded by uncertainty over how many foreclosed properties will hit the market.

  • Are you starting something? Starting your own property firm

    08 May 2009

    Taken the plunge and decided to go it alone? Lydia Stockdale offers some tips on how to get the ball rolling

  • Argos catalogues MFI shop

    08 May 2009

    F&C Reit Asset Management, on behalf of landlord BEGG Nominees, has let the 10,000 sq ft former MFI furniture store in Barrow-in-Furness, Cumbria, to Argos on a 15-year lease.

  • Auction house prices a quarter below open market

    12 May 2009

    The prices paid for property at auction still have a long way to fall, but the outlook for the housing market is not quite as dire as a few months ago.

  • Aussie mortgage holders warned off fixed rate loans

    8 May 2009

    ANZ Banking chief executive Mike Smith has warned mortgage holders not to fix their home loan rates yet, saying interest rates may continue to fall.

  • Australia may be storing up it own sub-prime crisis

    11 May 2009

    Australian Prime Minister Kevin Rudd’s bid to ensure his housing market avoids the global property slump may push a generation of buyers into a debt crisis.

  • Aviva poaches BlackRock fund of funds head

    7 May 2009

    Aviva Investors has poached John Gellatly, BlackRock’s head of real estate fund of funds.

  • Bad bank plan prompts Landesbanken reform call

    11 May 2009

    Squeezed by the financial crisis, losing credibility and facing unprecedented political pressure, Germany’s Landesbanken may finally be on the brink of fundamental change.

  • Bad property loans threaten regional US banks

    14 May 2009

    The slumping market for commercial real estate threatens to drag down regional banks as they struggle to collect on loans made against shopping centres and office buildings.

  • Banco Santander sells Spain's largest shopping centre

    7 May 2009

    Banco Santander’s real estate fund Banif Inmobiliario has sold the Plenilunio mall in Madrid for E235m.

  • Bank of England votes for extra £50bn spend

    7 May 2009

    The Bank of England today decided to keep the interest rate at its record low of 0.5% and said it would pump an extra £50bn into the UK economy.

  • Banks predict rise in bad debts

    8 May 2009

    British taxpayers could be on the hook to shoulder future bad debt losses at Lloyds Banking Group sooner than expected after the bank revealed yesterday it anticipated the provisions for problem corporate loans would rise by more than 50% in 2009.

  • Barratt appoints new FD

    8 May 2009

    Barratt has announced that its new finance director to succeed Mark Pain will be David Thomas, finance director and deputy chief executive of Game Group. He will join the company in August.

  • Barratt poaches computer game firm finance chief

    7 May 2009

    Barratt Developments has poached a new group finance director from computer game company Game.

  • Barratt spies hint of recovery

    14 May 2009

    Enthusiasm among homebuyers has started to drive sales in some of the most difficult sites in Barratt’s portfolio in recent weeks, said Mark Clare, chief executive of the housebuilder.

  • Bay Trading to be broken up

    08 May 2009

    Bay Trading, the fashion retailer that went into administration last month, will be broken up and sold

  • BBC looks north-west

    08 May 2009

    As the BBC builds up for its big move to Peel’s Media City in Salford in summer 2011, what can government departments that are under pressure to follow to the regions learn?

  • Best Buy cuts back UK plans

    7 May 2009

    Best Buy, the US electricals group, is scaling down plans to open 100 large consumer electronics stores in the UK by 2013, the head of its international operations has revealed.

  • Biggest jump in unemployment since 1981

    13 May 2009

    Unemployment recorded its biggest jump since 1981 in the first quarter of this year, although a smaller increase in the numbers of people claiming jobless benefits offered some comfort.

  • Birmingham Council approves Wholesale Markets move

    13 May 2009

    Birmingham Council has signed off the £100m relocation of the Birmingham Wholesale Markets to Prupim’s The Hub development in the city.

  • Birmingham plans new urban park for the city

    6 May 2009

    Birmingham City Council is set to unveil plans tomorrow for the first new urban park in the city for 125 years.

  • Bluewater’s bank holiday benefits from summer shopping

    7 May 2009

    Kent shopping centre Bluewater reported a higher number of May Bank holiday visitors than last year as shoppers prepare for a sun-soaked summer.

  • boing

    11 May 2009

    boing

  • Bournemouth town centre gets half a million for regeneration

    14 May 2009

    The South West Regional Development Agency (RDA) has invested £550,000 to help launch a regeneration vehicle for Bournemouth town centre.

  • Bovis Homes sales in surprise upturn

    8 May 2009

    Bovis Homes surprised the market yesterday with better than expected sales.

  • Bovis reports better start to the year than expected

    7 May 2009

    Bovis Homes has reported a 71% increase in reservations for homes over the first four months of the year compared with the same period in 2008.

  • BPF and Grainger call for ‘coordinated’ government housing approach

    13 May 2009

    The British Property Federation said the government’s response to the Rugg Review into the private rented sector was ‘positive’ but the proposed measures must be implemented in coordination with other government initiatives.

  • Brixton seals £70m sale and gets first occupier for two-storey shed

    13 May 2009

    Brixton has sold four industrial units to AEW Europe’s European Property Investors Special Opportunities Fund (EPISO) for £70.25m and sealed its first letting at its X2 shed in Heathrow.

  • Broadgate sale collapses

    11 May 2009

    MGPA is understood to have abandoned plans to purchase Broadgate in the City.

  • Broadgate sale collapses

    11 May 2009

    MGPA, the Macquarie Group-backed Australian fund, is understood to have abandoned plans to purchase Broadgate in the City.

  • Businesses denied Crossrail vote

    7 May 2009

    London’s businesses will not get a vote on paying for Crossrail after Boris Johnson was told by the government that there will be 'belt and braces' assurances on the matter.

  • Buy now and prudently – if you can find cash

    08 May 2009

    Entrepreneurial spirit, with Nick Leslau

  • Buy-to-let landlords struggle with loans

    13 May 2009

    Tens of thousands of landlords are struggling to meet their mortgage repayments as the economic downturn devastates the buy-to-let market, according to a new report.

  • Camden Council to sell Euston tower site

    08 May 2009

    Council asks for ‘expressions of interest’ for town hall annexe site

  • Carillion wins schools deal

    7 May 2009

    Carillion said that along with its joint venture partners it has been named preferred bidder for a £500m Durham Building Schools for the Future contract.

  • Carpathian mounts independence campaign

    08 May 2009

    Carpathian, the AIM-listed overseas property fund, has rejected all bid approaches and investment proposals and promised to return surplus cash from property sales to shareholders

  • Carrefour seeks to raise £1bn

    08 May 2009

    French supermarket giant Carrefour is preparing to sell a significant part of its property portfolio as it goes into expansion mode

  • Case news: Artworld Financial Corporation v Safaryan (27.02.09)

    08 May 2009

    The message: While a landlord may seek to maintain one legal position in correspondence, its actions may result in another

  • Celebrity hangout Chinawhite plans to reopen

    08 May 2009

    Chinawhite, the fashionable London nightclub, is to reopen after taking on a former Novus Leisure site close to Oxford Circus

  • Chelsfield and Mission Capital joint venture collapses

    6 May 2009

    A portfolio of properties bought in a joint venture by Chelsfield Partners and AIM-listed Mission Capital has gone into receivership.

  • Cheltenham shop support

    08 May 2009

    Canada Life is to pilot a business support mentoring scheme for retailers at its Cheltenham shopping centre, Regent Arcade

  • China developers in land-buying moves

    13 May 2009

    Developers are back in the market to rebuild mainland land banks run down during a two-year freeze imposed on new investments in response to government austerity measures and declining sentiment.

  • CNP in administration

    6 May 2009

    Building and project consultancy CNP has gone into administration.

  • Commercial property slide slows

    8 May 2009

    The latest CB Richard Ellis Monthly Index reveals that the slide in commercial property values had slowed in April to minus 2.1%, from minus 2.7% in March. Rental values showed a 1.3% decline in April, compared with 1.6% in March.

  • Commerzbank to sell property loans unit

    7 May 2009

    Commerzbank is to divest its Eurohypo property finance subsidiary as part of a deal with European competition authorities to compensate for the €18.2bn ($24.2bn) of state aid given to Germany's second largest bank.

  • Conservation group squares up to Crown over St James’s plans

    6 May 2009

    Conservation group The Victorian Society has hit out at the Crown Estate’s plans for the revamp of its St James’s holdings.

  • Construction firms owed billions

    8 May 2009

    Construction firms in Dubai say they are having to either accept reduced payments, or risk not getting paid at all.

  • Countrywide to buy

    11 May 2009

    Investors in Countrywide have stumped up a further £37.5m following the company’s recent debt restructuring so that the UK’s largest real estate agency can hit the acquisition trail.

  • Cross examination

    08 May 2009

    Hammerson and Hermes’ Highcross Leicester opened as the recession took hold. How is it trading eight months on?

  • Croydon terminates Minerva’s Park Place agreement

    12 May 2009

    Croydon Council is to cancel its development agreement with Minerva to develop a 1m sq ft scheme at Park Place after it said there was ‘virtually no chance’ that Minerva could develop the scheme.

  • CWM’s magic number

    08 May 2009

    CWM has won and retained a trio of leasing instructions in London

  • Danish scheme with a view of Everest

    08 May 2009

    A Danish residential scheme, emblazoned with a view of Mount Everest, has been completed in the Copenhagen suburb of Orestad.

  • Deramore Property Group receives planning permission for Edinburgh ‘pearl’

    8 May 2009

    Belfast-based Deramore Property Group has received full planning permission from the City of Edinburgh Council for its proposed redevelopment of 121-123 Princes Street, Edinburgh.

  • Developer behind luxury Charters scheme in administration

    7 May 2009

    The developer and owner of Charters, a luxury residential development near Ascot, has been placed into administration.

  • Development downturn eases according to Savills

    13 May 2009

    The downturn in UK commercial development activity eased in April to its slowest for fourteen months.

  • Distressed’s seller

    08 May 2009

    Less than a year after his buy-to-let empire collapsed, celebrity entrepreneur Grant Bovey is back with a new online venture selling ‘distressed’ housing stock

  • DLF could face additional tax liability

    8 May 2009

    India's largest property firm, DLF, said it might have to pay additional tax of up to Rs 400 crore following a special audit of its income for the fiscal 2005-06, by the income-tax authorities.

  • Doctors orders for Norwich’s Castle Mall

    08 May 2009

    Norwich Primary Care Trust is fitting out a doctors surgery that will provide GP services in the former Auberge restaurant on the third floor of Castle Mall shopping centre in Norwich

  • Downturn easing says ECB chief

    12 May 2009

    Leading central bankers yesterday signalled that the downturn in the world economy had bottomed out with some large economies already able to look forward to renewed growth.

  • Draco’s Brettenham House pair

    08 May 2009

    The UK’s regulatory body for venture capital, the British Venture Capital Association (BVCA), and private equity firm ECI Partners have taken a total of 15,000 sq ft at Draco’s Brettenham House in Lancaster Place by the Strand in London

  • Dubai Palm villa rents drop 30%

    8 May 2009

    A new rental index for Dubai to be published next week will show a 30% fall in rents since March for Palm Jumeirah villas.

  • Dubai ponders scrapping 27 projects

    12 May 2009

    Dubai regulators are gearing up to review all outstanding developments under a new law that gives them authority to cancel projects that do not start construction within six months of being approved by the Dubai Government. They are already considering cancelling 27 projects and are ready to halt additional developments that show no sign of being built and force developers to repay any outstanding amounts.

  • Dubai Property Court receives over 500 cases

    14 May 2009

    A total of 520 real estate-related cases have been registered with Dubai’s Property Court this year, according to a top official.

  • Dubai recovery 'could be late 2011'

    14 May 2009

    A recovery in the Dubai real estate market might not happen until late 2011 as a result of subdued investor sentiment, according to a new report by EFG Hermes.

  • Dubai rents and sales plunge

    8 May 2009

    Residential rents in Dubai fell 23% in the first quarter, with Discovery Gardens posting the biggest drop, while prime office rents declined 18% says CB Richard Ellis.

  • Dubai rents stabilising

    13 May 2009

    A flood of tenants into the Dubai rental market has seen prices stabilise in the Marina and even increase in the Springs, Landmark Advisory’s updated index has said.

  • Dubai World may sell ports stake

    11 May 2009

    DP World, the largest port operator in the Middle East says its parent company, Dubai World, has received an approach from a private equity group about buying a stake in the company.

  • East Anglia

    08 May 2009

  • East Midlands

    08 May 2009

  • ECB cuts rates as UK raises cash injection

    8 May 2009

    European central banks intensified their efforts to combat the recession yesterday with bolder decisions than expected to boost lending and cut interest rates to fresh lows.

  • Edinburgh’s Springside in step

    08 May 2009

    AMA, Grosvenor and the Royal Bank of Scotland launched Springside, one of Edinburgh’s biggest housing schemes last week

  • Emaar to hire 1,600 people

    12 May 2009

    Emaar Properties, the United Arab Emirates biggest real-estate developer, plans to hire 1,600 people for its retail, hospitality and leisure businesses, state- run WAM reported, citing Emaar’s chairman.

  • Emergency exit

    08 May 2009

    Administrators need escape routes from stalled schemes hit by the downturn

  • Energy cut by 60% by 2050

    08 May 2009

    The World Business Council for Sustainable Development has launched its international Transforming the Market: Energy Efficiency in Building report on how energy use can be cut by 60% by 2050.

  • Environmental services: new regime chokes polluters

    08 May 2009

    Site contamination is now punishable by criminal penalties. By Caroline May and Charlotte Peterson

  • Eroski invites investors to check out assets …

    08 May 2009

    Spanish retailer prepares sale and leaseback of up to 150 supermarkets

  • Estate agencies closures fall

    7 May 2009

    The number of estate agents closing their doors appears to be coming to a halt amid evidence of a recovery in housebuying from last year’s record lows, according to two of the largest listed estate agency groups.

  • EU directive ‘may hamper’ funds

    08 May 2009

    PricewaterhouseCoopers has warned that a new regulatory directive from the European Union could ‘hamper’ UK property fund managers

  • Eurohypo to realign its property lending business

    11 May 2009

    Eurohypo, the property and public finance lender, is to carry out a ‘fundamental realignment’ of its commercial real estate business in order to ‘fix the flaws’ in its business that have been exposed by the global financial crisis.

  • Ex-Minister claimed 16,000 non-existent mortgage

    14 May 2009

    A former Labour minister was dragged into the Westminster expenses furore last night after it emerged that he had claimed more than £16,000 for a mortgage that did not exist.

  • Fannie Mae taps Fed for $19bn

    11 May 2009

    Fannie Mae, operating under a federal conservatorship, asked the US Treasury for a $19bn capital investment and raised the possibility that its long-term survival may be dependent on continued government funding.

  • Film companies are star occupiers but can be demanding divas

    08 May 2009

    Sir, I read with interest your report on the alternative income streams that developers and landowners are looking at as developments are postponed or mothballed (Property Week, 20.03.09)

  • First Friday in Manchester

    7 May 2009

    Nearly 200 young property professionals gathered at Manchester's Room Restaurant for may's First Friday Club.

  • Former Innovate head office sold to private investors for £1.57m

    08 May 2009

    The long leasehold of Innovate Logistics’ 17,222 sq ft vacant former head office at Sherwood Park in Nottinghamshire has been sold to private investors for £1.57m.

  • Former L&G man Creedy and student flats developer unite

    08 May 2009

    Fund manager appointed as consultant to advise on portfolio

  • Frasier start takes property hit

    8 May 2009

    'Frasier' star Kelsey Grammer has sold a Los Angeles house for $3.3m, 19% less than he paid for it in 2007, and leased a seven-bedroom English-style manor after it failed to sell for $18.9m.

  • Freddie Mac to draw further $6.1bn from Fed

    13 May 2009

    Freddie Mac said yesterday it would draw $6.1bn of capital from the US Treasury after a $9.9bn first-quarter loss drove its net worth below zero.

  • FSA hits martgage broker with £100,000 fine

    12 May 2009

    A mortgage broker who hid a criminal record and asked that regulators travel to Nigeria to interview him has been barred from practising and fined more than £100,000 by the City watchdog in a sign of its renewed determination to use hefty fines to deter wrongdoing.

  • FSA proposes income-based limits on mortgages

    13 May 2009

    Home buyers may have the size of their mortgage limited to a multiple of their income under possible reforms outlined by the Financial Services Authority yesterday.

  • Galliford Try excepts to meet forecasts

    14 May 2009

    Galliford Try the construction group expects full-year results to meet market expectations, with strength at its construction business and a limited recovery in house building helping to maintain a steady order book of £1.7bn.

  • Ganja warfare

    08 May 2009

    Could your property be harbouring a cannabis factory? Richard Heap looks for the warning signs

  • General Growth move shakes investors

    8 May 2009

    When General Growth Properties Inc. sought Chapter 11 protection last month, it took a step its biggest debt holders had believed was impossible: It took 166 of its malls into bankruptcy with it.

  • General Growth wins $400m loan

    14 May 2009

    General Growth Properties, which filed the biggest real-estate bankruptcy in US history, won court approval of a $400m loan from a group led by Farallon Capital Management and the right to use cash on hand to fund its operations.

  • Germany holds 47% of Hypo

    8 May 2009

    The German Government announced that it holds more than 47% of Hypo Real Estate Holding, paving the way for a full takeover and nationalisation of the troubled lender. after the Government bid to buy up shareholders’ stock.

  • Giant ‘land art’ park planned for Scotland

    12 May 2009

    Scottish Resources Group, the parent company of Scottish Coal, has outlined plans to develop a 665-acre park on one of its old coal mining sites in Fife.

  • Going places - 08 May 2009

    08 May 2009

    This week's movers

  • Goldman pays $60m in subprime settlement

    12 May 2009

    Goldman Sachs agreed to pay about $60m to settle a Massachusetts investigation into the packaging of mortgage securities at the root of the collapse of the U.S. housing market.

  • Goodman’s first Derby win

    08 May 2009

    Goodman has secured its first tenant at the 115 acre Derby Commercial Park in Raynesway, two miles to the east of the city centre

  • Government publishes response to Rugg Review

    13 May 2009

    A major new package of measures aimed at strengthening consumer protections for tenants living in private rented accommodation was unveiled by housing minister Margaret Beckett today.

  • Government reveals south-east plan

    6 May 2009

    Communities minister Sadiq Khan has unveiled a strategy for delivering 654,000 new homes, jobs and infrastructure in the south-east by 2026 today.

  • Government to fully fund Olympic Village

    13 May 2009

    The government today said it would fully fund the 2012 Olympic Village and Lend Lease, which has ended immediate plans to inject £150m equity into the project, will continue in its role as development manager.

  • Government to parcel up Royal Mail pension property

    08 May 2009

    But Labour MPs rebel against plans to sell off 30% stake

  • GPT seeks A$1.7bn in offering

    7 May 2009

    GPT Group, the Australian REIT, is seeking as much as A$1.7bn ($1.28bn) through a capital raising as it tries to speed up its exit from a joint venture with the collapsed Babcock & Brown.

  • Green hotels to protect values

    08 May 2009

    A report by Savills and WSP said hotel operators should retrofit hotels and introduce green initiatives, such as room energy management systems and combined heat and power units, to protect their hotel values

  • Green saddled with empty shops burden

    08 May 2009

    Administrators for Arcadia tenants hand back closed-down stores

  • Greenspan bottom of US house market

    13 May 2009

    Former Federal Reserve Chairman Alan Greenspan said that the decline in the US housing market may be bottoming and it’s 'very easy to see' financial markets continuing to improve.

  • Guy Grainger's Eye on retail (video)

    11 May 2009

    Guy Grainger, Jones Lang LaSalle’s head of retail, spoke to Property Week about how landlords and retailers are faring in 2009.

  • GVA Grimley is king of the castle

    08 May 2009

    Administrator KPMG has appointed GVA Grimley to market the 16th-century Taymouth Castle in Perthshire

  • GVA on board for Belfast's Sailortown masterplan

    7 May 2009

    GVA Grimley has been appointed to prepare a masterplan for the Sailortown area of Belfast.

  • Hammerson sells last German shopping centre

    13 May 2009

    Hammerson has exchanged contracts for the sale of Forum Steglitz shopping centre in Berlin to Europa Capital Partners for €70m in a sale that will mark its exit from the German market.

  • Hang Lung plans huge retail complex for Dalian

    11 May 2009

    Hang Lung Properties said it would invest 4.5 billion yuan (HK$5.11bn) to develop a 'world-class' shopping centre on a newly acquired commercial site in Dalian, its first land acquisition since February 2007.

  • Hardy Breiths new life into asset management

    08 May 2009

    Ray Hardy, former group investment director of Ballymore Properties, has set up Breith Property Resources

  • Haz takes 20-year lease at 150 Cheapside

    08 May 2009

    Turkish restaurant chain Haz has taken a 5,085 sq ft unit for its fifth restaurant at 150 Cheapside near St Paul’s Cathedral in the City of London on a 20-year lease with five-yearly rent reviews

  • HCA publishes online guidance

    13 May 2009

    HCA publishes online guidance to help partners with ‘single conversation’

  • Helaba job for Warschke

    08 May 2009

    German bank Helaba has appointed Ingeborg Warschke as head of its UK real estate finance department.

  • Henry Boot joins council for Nottingham retail venture

    08 May 2009

    Developer teams up with Broxtowe council for £17m retail redevelopment in Beeston

  • Heron tops out at The Peak in London’s Victoria

    11 May 2009

    Heron International and the Co-operative Insurance Society have topped-out their joint office development The Peak opposite London’s Victoria Station.

  • Hirco shareholders reject Laxey board shake-up

    6 May 2009

    Activist investor, Laxey Partners has lost its bid to oust members of the board of AIM-listed Hirco.

  • HK developers see home market bottoming out

    11 May 2009

    Two developers have injected a note of optimism into the city's residential market, saying that it has reached a bottom and is set to turn around.

  • HK home sales rise 49% as despite swine flu

    13 May 2009

    Buyers shrugged off concerns over the outbreak of the swine flu and turned out in force to drive deal-making in the secondary market up by about 50 per cent last week.

  • HK serviced rooms rent falls 28%

    14 May 2009

    Rents of mid-priced serviced apartments of one or two rooms in core business areas have dropped by 28% from the middle of last year to March because of the effects of the global financial crisis.

  • Hong Kong restaurant Aqua to debut on Regent Street

    08 May 2009

    Shearer Property Group and Delancey have signed up Michelin-starred Hong Kong restaurant Aqua to make its European debut on the rooftop of the former Dickins & Jones store on Regent Street in central London.

  • House price decline ‘slowing markedly’ says Chesterton Humberts

    14 May 2009

    UK house prices are at their lowest level since July 2004 but the average price of a residential property in England and Wales fell by only £1,575 in April, significantly less than the six month average fall of £2,649.

  • House prices hit 2004 levels

    7 May 2009

    House prices fell by more than expected last month, returning the average price of a house to where it was in 2004, according to data from Halifax published yesterday.

  • Housing sales and buyer enquiries rise in April

    12 May 2009

    Housing sales in April edged up ‘a little further’ and surveyors reported a rise in new buyer enquiries climbing to the highest figure for almost a decade, according to the RICS.

  • HSBC hit by subprime again

    11 May 2009

    HSBC will unveil more heavy losses at its US sub-prime lender Household this week, as its customers continue to reel from rising unemployment and further falls in the value of their homes.

  • Hurstwood restructures £100m debt

    12 May 2009

    North west property company Hurstwood has restructured its debt and reorganised its business.

  • I am an administrator selling a portfolio of properties.

    08 May 2009

    Title indemnity insurance is increasingly used to speed up sales by covering title defects that may not be identified by due diligence.

  • Indian exchange buys Mumbai office

    14 May 2009

    In one of the biggest real estate deals since an economic downturn hit the nation, the National Stock Exchange, with its affiliates, is acquiring 56,000 square feet of office space at the 36-acre Kohinoor City project not far from NSE’s headquarters in the Bandra Kurla Complex at Mumbai’s Kurla area, for about Rs 80 crore.

  • Indian property sector struggles as funds steer clear

    11 May 2009

    India's troubled property developers are seeing early signs of a rebound, but high debt costs and a lack of private equity funding suggest a sustained recovery is unlikely for some time.

  • Indian property shares soar on DLF announcement

    13 May 2009

    Shares of real estate firms on Wednesday surged as much as 5% on the Bombay Stock Exchange, led by heavyweight DLF, on fresh buying across the counter despite the benchmark Sensex slipping into the red.

  • Investment banking rules to be tightened

    11 May 2009

    Laws dealing with the failure of investment banks are to be tightened, after the collapse of Lehman Brothers revealed serious shortcomings in the UK’s insolvency regime.

  • John Lewis finds home comfort in smaller stores

    08 May 2009

    Retailer to roll out new concept stores selling homeware and electrical products

  • John Lewis to open new concept

    7 May 2009

    John Lewis is launching a new shop format to focus on the home and electrical sector.

  • John Lewis to open smaller stores

    7 May 2009

    John Lewis is planning to open up to 50 smaller home and electrical stores across Britain after it was forced to scale down ambitions to open at least half a dozen department stores over the next few years as property developers shelve regional shopping centres.

  • Joint committee set to cancel 'unviable' Dubai schemes

    7 May 2009

    A special committee has been set up to decide which construction projects in Dubai should be cancelled amid the current slowdown in the real estate sector.

  • Jumeirah and MAB go Deutsch

    08 May 2009

    Dubai-based hotelier Jumeirah and Dutch property company MAB have teamed up to develop a five-star hotel in Frankfurt

  • King Sturge to manage outlet mall

    08 May 2009

    UBS Triton Property Fund has appointed King Sturge’s shopping centre team to manage its 170,000 sq ft Springfields Outlet Shopping centre in Spalding, Lincolnshire.

  • Knight Frank Greater China Quarterly Report: Q1 2009

    08 May 2009

    In the first quarter of 2009, Mainland China’s residential property sector staged a recovery, with transactions in some cities rebounding to levels not seen in years. However, the recovery did not spill over to the commercial sector, with office markets in major cities remaining sluggish amid fewer transactions and declining rents and prices.

  • Land Securities posts record losses

    13 May 2009

    Land Securities Group Plc, the U.K.’s largest real estate investment trust by market value, reported a record loss for last year as the company’s shopping centers and offices slumped in value.

  • Land Securities suffers £4.74bn decline in portfolio value

    13 May 2009

    Land Securities today revealed a £4.74bn plunge in the value of its portfolio in the year to the end of March.

  • LandSec set for asset falls

    11 May 2009

    Land Securities: is expected this week to reveal that more than £4bn has been wiped off its £9bn portfolio in 12 months. The group has already been forced to raise £755m through a rights issue to bolster its balance sheet.

  • Langham to relaunch in June

    6 May 2009

    The Langham London hotel has revealed its new look following a refurbishment.

  • Large digital screens must be carefully managed says CABE and English Heritage

    12 May 2009

    Local authorities must have robust policies in place to manage the impact of large digital screens in public places or it could cause ‘significant harm to the character, appearance, amenity and even safety of places’ according to CABE and English Heritage.

  • Law firm moves to Chancery Lane

    08 May 2009

    Law firm Russell Jones & Walker has taken 28,000 sq ft at the former College of Law office on a 10-year lease at 50-52 Chancery Lane off Holborn, London

  • Laxey fails to oust Hirco board

    08 May 2009

    Activist investor Laxey Partners has lost its bid to oust members of the board of AIM-listed Indian property company Hirco

  • Legal & General to cut over 500 more jobs

    13 May 2009

    Legal & General said it would try to keep redundancies to a minimum as it enters consultations with staff and the Unite union over 560 more job cuts among full-time and contract staff.

  • Lend Lease cuts profit outlook

    11 May 2009

    Lend Lease cut its full-year net operating profit forecast today by as much as 25 per cent because it would defer asset sales.

  • Lend Lease eyes A$60m golf course

    7 May 2009

    At least $160m worth of property is close to changing hands, with Lend Lease believed to be about to snap up a major development site on the Sunshine Coast.

  • Lend Lease slashes forecast

    12 May 2009

    Lend Lease, Australia’s largest property developer has cut its profit forecast as the global real estate slump has forced it to delay asset sales. The company now expects net operating profit of A$300m (£150m) for the fiscal year ending on June 30, down 25% from a previous forecast of up to A$400m.

  • Leslau lures Slade’s heir apparent from Helical Bar

    08 May 2009

    Prestbury chairman finally gets his man as Mike Brown joins him as chief executive

  • Leslau to float new property company Max Property Group

    12 May 2009

    Nick Leslau’s new property investment company Max Property Group, which aims to take advantage of UK property opportunities, announced its intention to float on AIM and the Channel Islands Stock Exchange today.

  • Libeskind wins massive Seoul project

    13 May 2009

    American architect Daniel Libeskind, the master planner for the World Trade Center site, has won a design competition to turn the centre of the South Korean capital into an international business district.

  • Liverpool approves Central Village development

    12 May 2009

    Liverpool City Council planners today approved two applications to give the go ahead for £160m Central Village development.

  • Liverpool office market still strong, says DTZ

    6 May 2009

    Demand for offices in Liverpool continues to be strong, and this year’s take-up may even exceed the five year average, according to research from DTZ.

  • London & Stamford seal Leeds deal

    08 May 2009

    London & Stamford has completed the purchase of 1 Whitehall Riverside in Leeds

  • Looks good on paper

    08 May 2009

    With a vast paper mill set to open this summer and a raft of other schemes in the offing, fortune seems to be favouring King’s Lynn

  • Louis Vuitton opens at Westfield London

    14 May 2009

    Designer Louis Vuitton has opened its long awaited store at Westfield London, the 1.6m sq ft shopping centre in west London.

  • Madison Square Garden 'not for sale'

    12 May 2009

    Cablevision Systems said it has no plans to sell the Madison Square Garden unit or any other businesses, less than a week after the board gave managers permission to explore a spinoff.

  • Mandarin Oriental Hotel unveils plans for its first Moscow hotel

    8 May 2009

    The luxury Mandarin Oriental Hotel chain has unveiled its plans for its first five-star hotel development in Moscow, Russia.

  • MEPC secures major office consent at Callaghan Square

    8 May 2009

    MEPC has secured outline planning permission for a 500,000 sq ft office scheme at its Callaghan Square development in Cardiff, Wales.

  • Ministers should watch BBC’s relocation show

    08 May 2009

    When we visited the north-west on Tuesday, there was only one true ray of light amid the gloom

  • MORNING AFTER: CB Richard Ellis Retail Cocktail Party.

    11 May 2009

    Despite the world of retail suffering at the hands of the recession CB Richard Ellis's annual retail cocktail party went ahead as usual with the champagne flowing at the usual venue of the Victoria & Albert museum last week.

  • Mortgage rescue scheme ‘a sham’

    08 May 2009

    Shadow housing minister Grant Shapps this week branded the government’s mortgage rescue scheme as ‘a sham’

  • My tenant has gone into administration. Can I send in the bailiffs?

    08 May 2009

    You must be clear about what the bailiff is being asked to do, but if an administrator has been appointed, your options are already limited.

  • Mystery of 800 missing DLF staff

    11 May 2009

    DLF, India's largest real estate developer, had headcount down by over 800 during 2008-09 from the year-ago period, but the company did not clarify if these employees were sacked.

  • Nakheel bailed out

    12 May 2009

    The developer behind some of Dubai’s most extraordinary property projects revealed on Monday that it had resorted to taking funding from the emirate’s department of finance to help pay invoices.

  • Nakheel is receiving government funds

    11 May 2009

    Master developer Nakheel is receiving funds from Dubai government as it looks to complete projects and pay outstanding obligations, its chief executive has confirmed.

  • North Hollywood redevelopment set for nod

    7 May 2009

    Plans to redevelop a struggling shopping plaza in North Hollywood have raised hopes for wider improvements along a commercial strip that was devastated by the 1994 Northridge earthquake and has long suffered blight.

  • Northern Rock inquiry to widen

    8 May 2009

    The scope of the legal inquiry into government plans for Northern Rock was widened when the European Commission demanded more information about the splitting of the lender into 'good' and 'bad' banks.

  • Norwich pickings

    08 May 2009

    Relocations have swelled the city’s vacancy rates, but several impending schemes could reinvigorate the market, bringing new occupiers – and record rents

  • Oak’s Yes! scheme to grow

    11 May 2009

    Oak, the AIM-listed property development group, is to extend its planned £300m Yes! project by agreeing with Rotherham Metropolitan Borough a seven-year head leasehold interest in the adjacent Rother Valley Country Park.

  • OFT bans Croydon estate agent

    08 May 2009

    The Office of Fair Trading last week banned Croydon estate agent Marcia Whyte, who ran Executive Estates, under the Estate Agents Act 1979 after she failed to disclose to a potential seller that she was planning to buy his property and then resell it for a £65,000 profit.

  • OFT objects to ‘unfair’ Foxtons commission

    08 May 2009

    London agents could go bust if estate agent loses test case

  • On 22 April organisations and individuals across the world took part in Earth Day

    08 May 2009

    More than 200 workers based at Stanhope’s Chiswick Park in west London gave up their time for community development and environmental protection

  • One in five zero-carbon aware

    08 May 2009

    Only one out of five property professionals understands the scale of the challenge to deliver zero-carbon homes by 2016, Zero Carbon Hub has warned

  • Out with a headbang

    08 May 2009

    Jon Lovell, head of sustainability at Drivers Jonas and a devoted rocker, livened up his presentation at ‘The Government Estate in Today’s Economic Turmoil’ seminar the other week with some heavy metal analogies

  • Oz first-home buyers rush for loans

    12 May 2009

    Home loans increased more than expected in March, as Australians took advantage of grants and lower interest rates to enter the housing market for the first time.

  • Oz REITs in selling spree

    14 May 2009

    GPT Group and Goodman Group have sold European properties worth a collective A$332m as they both move to drive down debt and focus on their core Australian businesses.

  • Palm Jumeirah prices hit three-year low

    12 May 2009

    House prices on Nakheel’s Palm Jumeirah project have fallen below AED800 per square foot for the first time in over three years – and nearly 60% down in the past five months, Arabian Business can reveal.

  • Pants body double

    08 May 2009

    Colleagues of King Sturge’s Geordie West End leasing agent, Chris Watkin, have not seen him in the office much recently

  • Pattinson teams up with estate agents for online sale

    08 May 2009

    Newcastle auction house to host internet auction and hold first-ever London sale

  • PFI schemes to stay 'off the books'

    13 May 2009

    Many private finance initiative projects are to remain, in effect, off the government’s balance sheet. The decision means that hospitals, clinics, schools, waste and local authority projects can continue to be built under PFI without counting against the government’s capital expenditure totals.

  • Plans made for hotel close to Clapham Junction station

    7 May 2009

    Oak Trading Company, part of Redwood Property Group, has applied for detailed planning consent for a 16 storey hotel development adjacent to Clapham Junction Station.

  • Prepare for a fight at review

    08 May 2009

    A forecast rise in rents is likely to be fiercely contested rents are on the wane – Or are they?

  • Prestbury to earn 18.75m fees from Max venture

    13 May 2009

    A private company controlled by Nick Leslau will collect at least £18.75m in fees for advising an Aim-listed vehicle in which the entrepreneur is a director.

  • Prime yields plateau ahead of predicted year-end pick-up

    08 May 2009

    Latest Cushman & Wakefield research shows that yields have stabilised over last two months

  • Prince Charles tells RIBA to get back to nature

    13 May 2009

    Prince Charles, who caused a storm recently with his criticism of Qatari Diar’s Chelsea Barracks redevelopment plans, apologised for his past outspoken criticism of modern architecture and called for architects to be inspired by nature in a speech last night.

  • Private eye: Nick Braun

    08 May 2009

    With all the hype surrounding the new 50% ‘super-tax’, little attention has been paid to one of the biggest property tax changes in the Budget – the new rules for furnished holiday lets

  • Property responds to the Bank of England's rates decision

    7 May 2009

    The property industry has responded to the Bank of England’s decision to hold interest rates at 0.5%.

  • Property’s ‘Hairy Angels’ get this year’s Party Near the Park started

    08 May 2009

    We all know that ‘hairy Angel’ Susan Boyle has got talent, but did you know the property industry has too? This is about to be proved by the annual musical extravaganza that is Party Near the Park, which will be held in the City of London on 4 June to raise money for LandAid

  • Pru pulls plug on Noé’s Pinton

    7 May 2009

    Property company controlled by F&C Reit chairman’s family trust goes into receivership

  • Prupim appoints head of development

    11 May 2009

    Prupim has appointed David Morris as director of property development.

  • Public sector property task

    08 May 2009

    A central property platform should be formed to provide leadership and support across the entire public sector, the government’s Operational Efficiency Programme has concluded

  • Radio active

    08 May 2009

    After a quiet period, Rugby Radio Station could trigger a burst of development in the region’s shed market

  • Rail freight is great

    08 May 2009

    Sir, In Central Railway: Better Freight Than Never (Property Week, 09.04.09) Steven Norris correctly urges the government to invest now in rail transport infrastructure to build an effective freight distribution network.

  • Redevelopment of US Navy HQ sets sail

    8 May 2009

    Plans led by Richard Caring to redevelop the US Navy headquarters in London’s Grosvenor Square were given the go ahead last night by Westminster City Council.

  • Redrow restarts building with family focus

    13 May 2009

    Redrow will concentrate on building three- and four bedroom family homes in future as the house building market shifts to lower density housing, according to David Arnold, group finance director.

  • Refund sliding scale for Dubai defaulters

    7 May 2009

    The Dubai Land Department has issued an amended law listing a sliding scale of refunds for investors who default on their payments on unfinished properties.

  • Relief as stress test results come in

    7 May 2009

    US financial stocks soared yesterday as investors expressed relief that the capital shortfalls identified by the government’s 'stress tests' at large banks such as Citigroup and Bank of America were not as big as some had feared.

  • Rent falls are a mystery when valuing in a void

    08 May 2009

    Rent reviews surveyors are relying on guesswork as well as evidence, says Anthony Lorenz

  • Reserve forces property review marches forward

    08 May 2009

    The government has kicked off a review of the property owned by Britain’s reserve military forces as part of a wider overhaul of the division

  • Resi rents rise as supply plateaus

    08 May 2009

    Average residential rents rose 1% to £638 during March 2009 – only the second monthly rise in the last eight months

  • Resi rents rise as supply plateaus

    08 May 2009

    Average residential rents rose 1% to £638 during March 2009 – only the second monthly rise in the last eight months

  • RICS: Government must ‘swiftly’ implement housing measures

    13 May 2009

    The RICS has said the government must take ‘swift action’ to implement its measures to strengthen the private rented sector.

  • Rok in line

    8 May 2009

    Rok, the property maintenance group said first-quarter trading was in line with its expectations.

  • Ruwaad to press on with SA mini-city

    11 May 2009

    Ruwaad Holdings, a property developer owned by the Dubai 9 Group, is planning to push ahead with its plans to build a huge entertainment centre and mini-city in South Africa, despite pressure from a local tribal chief and some 3,000 Zulu farmers who do not want to be relocated.

  • Sainsbury’s calls on Boyce

    08 May 2009

    Sainsbury’s has recruited Phones 4u property director Stephen Boyce as head of convenience property

  • Savills sees weak market

    7 May 2009

    Savills said that the market for commercial property across Europe, Asia and the United States remained weak as a lack of capital forced buyers to remain on the sidelines, but added that it continued to cut costs.

  • Scottish Property Awards 2009 winners announced - see photos

    14 May 2009

    More than 500 property professionals gathered at the EICC last night to celebrate the best of the Scottish property industry during the last 12 challenging months.

  • Shakeaway and Shakeabout settle legal dispute

    8 May 2009

    Milkshake operators Shakeaway and Shakeabout have today settled their case in the High Court.

  • Shares slip as LandSec sees no rebound

    14 May 2009

    Land Securities has warned that hopes for a recovery in the real estate sector appear premature after it revealed a record £4.7bn fall in the value of its estate.

  • Simon Property raises $1bn in new equity

    8 May 2009

    Simon Property Group Inc., the biggest U.S. shopping mall owner, raised $1 billion in its second stock sale this year after increasing the number of shares to meet investor demand.

  • Slade’s all at sea

    08 May 2009

    Mike Slade has had a tremendous run, raising new equity for Helical Bar to bolster its recession war chest, triumphing in the inaugural Property Boffin Quiz and winning virtually every race that his 100 ft supermaxi yacht, Icap Leopard, entered

  • SocGen ditches Norfolk tyre-eyesore business park

    08 May 2009

    Local buyer to regenerate overvalued Tattersett Business Park after loan default prompts bank sale

  • Sovereign stealth

    08 May 2009

    Amid a development hiatus, Peel is cautiously progressing with a mixed-use scheme in Nottingham city centre

  • Spain to end tax break to boost house market

    13 May 2009

    Spain plans to abolish tax breaks for some home buyers in a bid to spur house purchases before the change comes into effect, Prime Minister Jose Luis Rodriguez Zapatero said as he announced a raft of measures to haul the country out of its worst recession in 60 years.

  • Springs continues to be most popular Dubai area

    7 May 2009

    The Springs continues to be the most popular area to live in Dubai, according to the results of a new property survey.

  • St Modwen’s Pyrex plans go public

    08 May 2009

    St Modwen will go to public consultation this month for its plans to redevelop the former Pyrex factory near Sunderland city centre into a £10m mixed-use scheme.

  • Stanhope’s City scheme at 8-10 Moorgate gets green light

    7 May 2009

    Stanhope has received planning permission for a major development at 8-10 Moorgate in the City of London.

  • Stobart to complete purchase of Carlisle airport

    12 May 2009

    Stobart is expected to complete its purchase of Carlisle airport at the end of the month.

  • Stockland accepts GPT rights offer

    11 May 2009

    GPT stakeholder Stockland has taken up GPT's one-for-one rights offer.

  • Stockland to raise $2bn for balance sheet

    13 May 2009

    Stockland Group today said it planned to raise up to $1.98 billion in share sales to strengthen its balance sheet and fund growth.

  • Strang joins Hermes as consultant

    08 May 2009

    Former Threadneedle Property Investments managing director Andrew Strang has been appointed as a consultant to review Hermes Real Estate’s business

  • Swine flu could damage London's property recovery, Atisreal says (video)

    8 May 2009

    London's commercial property market could be facing further harm caused by the swine flu pandemic, Atisreal has said.

  • SWIP buys Leamington Spa House of Fraser store

    8 May 2009

    BL Fraser has sold the House of Fraser store in Leamington Spa, Warwickshire to Scottish Widows Investment Partnership (SWIP) for £13.5m representing a net yield of 8.43%.

  • Swip enters market

    8 May 2009

    After a year of watching and waiting as capital values plunge, Gerry Ferguson, manager of the £829m Swip Property Trust, is looking to get back into the market, expecting offers he has placed on a number of retail properties to close soon.

  • Switzerland favourite for mobile rich – at London's expense

    13 May 2009

    Switzerland is the world’s most attractive financial centre for the 'mobile wealthy,' beating London, Singapore and New York, according to a new survey by Scorpio Partnership.

  • Tatas moots Mumbai low-cost housing

    7 May 2009

    Tata Group announced a housing project which offers a flat for less than Rs 4 lakh at Boisar, around 100 km from the financial capital of the country.

  • Taunton shopping centre to get makeover

    8 May 2009

    Kirkstone Property Ventures has revealed plans for a retail scheme in Taunton.

  • Taxpayers to pick up tab for Olympic village

    14 May 2009

    Ministers handed over another sizeable chunk of contingency reserves to London 2012 organisers and put the entire £1.1bn Olympic village into public ownership after rejecting a proposed £375m debt-plus-equity contribution from a private developer.

  • Taylor Wimpey and 3i lead share issue moves

    8 May 2009

    UK companies are queuing up for fresh funds from shareholders to repair their stretched finances, with a house builder and a private equity group today expected to raise £1.25bn by issuing new shares.

  • Taylor Wimpey in £510m cash call

    8 May 2009

    Housebuilder Taylor Wimpey has launched a £510m capital raising.

  • Tesco signs up at Lancashire’s Buckshaw Village

    11 May 2009

    Tesco has signed up to anchor a £35m leisure scheme in Lancashire which is part of the Buckshaw Village development in Chorley.

  • The market in minutes - East Anglia

    08 May 2009

    Christine Eade gives you the lowdown on all the sectors across the region

  • The market in minutes - East Midlands

    08 May 2009

    Stuart Watson gives you the lowdown on all the sectors across the region

  • Think tank calls mortgage lending cap

    11 May 2009

    Strict new controls on mortgage lending are crucial if Britain is to avoid further house price bubbles in the future, a leading think tank with close links to the Government will say today.

  • Three aboard at Ocean Terminal

    08 May 2009

    Clothing retailers Ness Clothing and Superdry and whisky specialist the Whisky Shop have signed for 1,026 sq ft, 6,000 sq ft and 495 sq ft respectively at Ocean Terminal in Edinburgh

  • TK Maxx: the public's view

    12 May 2009

    Following the Crown Estate’s decision to refuse permission for a TK Maxx shop to open in the former Virgin Megastore at Piccadilly Circus, Property Week visited the area to found out what shoppers, tourists and local workers think.

  • Top fund manager sees shift from recession to recovery

    08 May 2009

    Fidelity’s Bolton sees first signs of possible turnaround at Ross Goobey memorial lecture

  • Tough times ahead in M25 market, says Knight Frank

    12 May 2009

    Rents in the south-east office market have fallen by 15% from their peak 18 months ago and probably have a further 18% to fall over the next two years, according to Knight Frank’s annual M25 office research.

  • Travis Perkins opts for 'cheaper' £300m rights issue over bank facility

    12 May 2009

    Travis Perkins has opted for a heavily discounted £300m rights issue to give it breathing space as the recession bites, rather than draw on untouched banking facilities because it is cheaper.

  • Travis Perkins seeks £300m

    11 May 2009

    Travis Perkins is this weekend putting the finishing touches to a £300m rights issue and placing.

  • UAE firms eye Pakistan housing schemes

    14 May 2009

    UAE property developers are considering investing in the construction of 6 million low-cost homes in Pakistan as part of a government-backed plan to ease the housing shortage in the country.

  • Union in Dutch retail debut

    08 May 2009

    Union Investment has bought a €29m parade of shops in the Netherlands – its debut retail investment in the country

  • Urban regeneration report call for improve public space

    12 May 2009

    All new public projects including housing, schools, and hospitals will be subject to new design standards, the government will announce today as it publishes the first big report on urban regeneration in a decade.

  • US commercial mortgage delinquencies hit 11-year high

    8 May 2009

    Commercial mortgage delinquencies in the U.S. climbed to the highest level in at least 11 years in April as scarce credit made it difficult for landlords to refinance loans, according to property research firm Trepp LLC.

  • US foreclosures hit new record

    13 May 2009

    Foreclosure filings in the US rose to a record for the second consecutive month in April as banks increased efforts to seize homes from delinquent borrowers.

  • US Median house price down 14%

    13 May 2009

    The median price for a single-family house fell 14% to $169,000 in the first quarter from a year earlier, the National Association of Realtors reported.

  • US unveils Battersea embassy plan

    08 May 2009

    The US government has today revealed the first plans for its new embassy on the banks of the Thames in Battersea, south London.

  • USS buys Plymouth retail park

    13 May 2009

    Universities Superannuation Scheme (USS) has bought Marsh Mills retail park in Plymouth from Aviva Investors for £27.5m.

  • Valad sells last Pavilion office

    08 May 2009

    Valad Property Group has completed the sale of the final unit of the Pavilions at the 100 acre Innova Park in Enfield

  • Virtual offices fill a space

    11 May 2009

    The collapse in US commercial property prices is encouraging entrepreneurs to set up 'virtual' offices at prestigious addresses, renting space by the month, the week or even the hour.

  • Welsh govt gets £38m for regeneration

    8 May 2009

    The Welsh Government, the European Union (EU) and other local sources have pledged £38m for a regeneration programme across seven of Wales’ most deprived communities.

  • Westbrook buys in Edgbaston

    13 May 2009

    Westbrook Partners has bought 54 Hagley Road in Edgbaston from Capital & Counties.

  • Westfield chief calls bottom of market

    7 May 2009

    The world's biggest shopping centre owner yesterday flagged the end of the slump facing the value of its property empire as domestic retail sales surged on the back of the federal government's stimulus package.

  • Westfield service charge reduced

    08 May 2009

    The highly disputed service charge at Westfield London will be reduced following a review.

  • Westfield unveils plans for Merry Hill food court

    08 May 2009

    Westfield has unveiled plans for a £24m food court, Eat Central, at its Merry Hill shopping centre in the West Midlands

  • Whitehall of the north-west

    08 May 2009

    The government is considering a 700,000 sq ft ‘Whitehall’ of the north-west in Manchester to house 5,000 civil servants at the former Mayfield railway station next to Piccadilly station in the city centre

  • Worried investors in Ajman lobby regulator

    14 May 2009

    A group of 30 worried property buyers who say they have paid many thousands of dirhams to developers for projects that are either months behind schedule or not even started are pressing the Ajman Real Estate Regulatory Agency to take action to protect their investments.

  • Yoo branches out into first-timers with Green Shoots

    08 May 2009

    John Hitchcox to buy distressed new-build schemes from developers or banks

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