08 September 2006
Property Week
View all stories from this issue.
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Sainsbury’s to sublet giant Dartford distribution centre
08 September 2006
Supply chain overhaul results in supermarket’s U-turn at ProLogis scheme
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20-30-40-50
7 September 2006
Each week we meet a property character from a different age bracket. This week Deirdre Hipwell meets Paddy Conlon, 27, surveyor at CB Richard Ellis in Dublin
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A breath of fresh air
08 September 2006
Two former ING directors are not afraid to get their hands dirty with nitty gritty asset management – and Raymond Mould and Patrick Vaughan like their style.
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A new departure
08 September 2006
Henry Boot has overcome the restrictive rules of motorway service station development with its airport lounge-style Stop 24 scheme in Kent.
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A prudential lesson for fund managers
08 September 2006
Property Week’s Monday morning news meeting was enlivened by the revelation that Prudential planned to float its property fund management arm. Sadly, the rumour, probably triggered by HBOS’s announcement that it was floating its own property asset management business, Insight, turned out to be untrue, and is not even a twinkle in the mighty Pru’s eye.
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A recipe for disaster
08 September 2006
Five years after 9/11, demand for disaster recovery space is higher than ever. Jonathan Brasse takes a top secret tour of a disaster recovery centre
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Aberdeen Property invests in Scandinavia
8 September 2006
Aberdeen Property Investors today unveiled its debut property fund investing in Scandinavia and the Baltic countries.
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Axa buys L&G Reading scheme
08 September 2006
Axa’s Greater London Fund (GLF) has bought Legal & General’s 219 Bath Road in Reading for £14m, in what is seen as a vote of confidence in the Berkshire office market.
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Bank of Scotland forges £2bn property fund with AAIM
7 September 2006
AAIM Group, the property fund manager owned by Mark Tagliaferri, Robert Whitton and Stuart Le Gassick, has secured a significant tie-up with Peter Cummings’ Bank of Scotland Corporate division.
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Berkshire
08 September 2006
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Bill Edgerley dies
12 September 2006
One of retail property’s most popular agents died suddenly yesterday at the age of 44
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Brixton results miss forecasts
08 September 2006
Brixton disappointed the City on Tuesday with a below-forecast performance in the first half of the year.
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Brixton shares dip
5 September 2006
Shares in Tim Wheeler’s Brixton stumbled this morning after it posted a set of mildly disappointing interim results
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Building surveyors lay into Part L regulations
08 September 2006
Former chairman of RICS faculty among experts complaining about green rules
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Business rate changes
08 September 2006
Question: I am a business ratepayer and I think I have been affected by what my surveyor says is ‘a change of circumstances’. What is the Valuation Office Agency’s policy on a change of circumstances?
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Case news
08 September 2006
Warren Gordon looks at damages following a law firm’s negligent serving of a notice for a client, while Jonathan Ross reports on a tenant’s liability for an employee’s injuries because of a defective lift
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Church tunes into Channel Five
08 September 2006
Channel Five’s offices in London’s Covent Garden have been acquired by the Church Commissioners as part of a £25.5m deal.
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City asking rents rocket
08 September 2006
More evidence emerged this week to demonstrate the recovery in the City of London occupational market, as LaSalle Investment Management became the latest to raise quoting rents.
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City Offices in talks for EC2 site
08 September 2006
City Offices is in advance talks to acquire a City of London development site near Broadgate to build a 17-storey office tower.
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City view: Jenny Davey
08 September 2006
Irvine Sellar and his joint venture partners must be laughing all the way to the bank after striking what looks like the office deal of the year with Transport for London at the Shard.
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Councils need carrots to release surplus land
08 September 2006
Financial incentives will encourage a more corporate approach to disposals, says Richard Allen
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Cushman satisfies City skills gap with Andrew Mayer Tyser
08 September 2006
Global firm’s long-running search to boost City investment expertise ends with niche takeover
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Detached homes shortage fuels 6% price rise
08 September 2006
Severe shortages of detached family homes have fuelled average price rises of 6%, three times the rise in flat prices over the last year, according to Linden Homes.
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Dhillon Hotels
08 September 2006
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Diary of... a council property director
08 September 2006
Charles Coats, head of property services at Gloucestershire County Council, takes us through his week
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DSG to launch TechGuys
08 September 2006
DSG international, Europe’s leading electrical retailer, has exchanged contracts for two stores to debut its newly launched format, the TechGuys
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English Partnerships and English Cities Fund
08 September 2006
English Partnerships and English Cities Fund are to submit planning for one of the south of England’s biggest regeneration projects at Millbay, south-west of Plymouth city centre. The scheme includes 1,233 homes and 190,522 sq ft (17,700 sq m) of retail and leisure.
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Fashion statement
08 September 2006
Shaftesbury is celebrating 40 years of Carnaby Street. To coincide with London Fashion Week, it is hosting a fashion show on Wednesday 20 September at its Kingly Court scheme on its Carnaby estate.
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Feltham town centre fills up
08 September 2006
Asian accessories and jewellery retailer Celeste and Adams Kids has signed up at Morley Fund Management’s the Centre, Feltham.
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Five-figure deal
08 September 2006
Five partners from two rival Reading agencies have united to form one new firm, Fryer Holt.
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Five-star row
08 September 2006
Investors who bought flats off plan in Birmingham’s Beetham Tower are refusing to complete the purchase, claiming the flats do not live up to the promised luxury.
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Going places
08 September 2006
This week's movers
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Good guys and bad girls
08 September 2006
Not very often do I spy stars of both the small and big screens hobnobbing with property people. But last week’s Regent Street Spanish festival was an exception.
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Greek tycoon to sell UK resi trio for £350m
08 September 2006
Panayiatou plans Euro hotel spree at height of market
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Hanover square
08 September 2006
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Heygate Estate
08 September 2006
Loates Taylor Shannon and de Rijke Marsh Morgan were among five architects chosen last week to design the next five housing schemes that will replace the 1960s Heygate Estate in Elephant and Castle, south London. S333, Panter Hudspith and Cartwright Pickard were also named last week. Architects have now been appointed for 11 of the schemes and four more are due to be announced this month.
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Hotbed appoints former Knight Frank man Taylor as head of property
08 September 2006
Hotbed, the private investor network that specialises in supplying commercial property and private equity investment opportunities to wealthy individuals, has appointed former Knight Frank partner Andy Taylor as head of property.
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How power failure can kill your data
08 September 2006
David Lawson warns that back-up is an essential part of a survival strategy for all businesses
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HSBC ends circus at Piccadilly with new design concept
08 September 2006
Bank kicks off return to high street by taking prominent former Virgin megastore in central London
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Immigration is an issue of space, not race
08 September 2006
The politics of property
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Industrial availability hits three-year high
08 September 2006
Availability of industrial property is at its highest level since December 2003.
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Investors expect model behaviour from deal analysis
08 September 2006
Transaction analysis is becoming increasingly sophisticated and thorough, says Stuart Le Gassick
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Irish snap up Scots centres
08 September 2006
A Northern Irish investor, advised by BTW Shiells, is set to buy the Avenue shopping centre in Newton Mearns, Glasgow, from Sovereign Land for more than £70m.
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Knight Frank enlists Oz wizard in Manchester
08 September 2006
Company’s Australia chairman Clive Betts to lead north-west push
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Land Securities
08 September 2006
Land Securities and Southwark Council this week unveiled a 48 metre by 3 metre artwork by Turner Prize finalist Ian Davenport under the Western Bridge on Southwark Street. Poured Lines was commissioned as part of the Southwark Street Gateway Improvement Project.
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LaSalle Euro chief Jacobson goes global
08 September 2006
Company veteran to take over from Lynn Thurber as global head
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Leamington Spa shortlist
08 September 2006
Milligan, Henry Boot, Simons Developments and Wilson Bowden have been shortlisted for a £50m shopping centre scheme in Royal Leamington Spa town centre.
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Lease assignment consents
08 September 2006
Question: My tenant has applied for consent to assign its lease. I would like the premises back. Can I refuse consent in order to pressurise the tenant to surrender its lease?
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Liberty Property Trust agrees Kings Hill headquarters deal
8 September 2006
Liberty Property Trust has agreed a deal with finance group Cabot Financial for a bespoke headquarters building at Kings Hill in Kent
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Lloyds TSB
08 September 2006
Lloyds TSB’s corporate markets division has begun to move into Standard Life’s 10 Gresham Street in the City of London. It has taken 110,000 sq ft (10,219 sq m) for 17 years at £47.50/sq ft (£511.29/sq m). Fit-out was by MCM and lead construction manager Mace.
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London offices send
08 September 2006
Derwent Valley Holdings benefited from the strength of the central London office market to achieve a 15.4% increase in net asset value in the first half of the year.
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London offices shine for Hammerson
08 September 2006
Buoyant interim results show that retail is put in the shade
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Maidenhead held high as bidders vie for central site
08 September 2006
Terrace Hill, HBG and Shepherd in race for key opportunity
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Major planning application to be submitted for Plymouth
6 September 2006
English Partnerships and English Cities Fund are poised to submit a planning application for one of the biggest regeneration projects in the south of England
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Meteor signs Whirlpool for spec shed
7 September 2006
The Meteor Partnership, a joint venture between Astral Developments and Legal & General, has signed Whirlpool UK to the biggest speculative warehouse to be built in Kent for more than a decade.
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Moir champagne please
08 September 2006
Sir, Following my return to the office after hanging up my bucket and spade for another year, I enjoyed Duncan Moir’s article on work experience (private investor, 28.05.06).
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Mucklow and Town Centre eye REITs
08 September 2006
Family ownership may not be a barrier to entry, say advisers
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Network Rail appoints commercial property director
5 September 2006
Mick Martin has been appointed as Network Rail’s new director of commercial property, in charge of its £4bn development drive
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New Managing Director for GE Real Estate
5 September 2006
GE Real Estate this morning announced Mike Rowan as its new UK managing director
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New zone A sewn up at Jermyn St
08 September 2006
Standard Life Investments has set a record zone A rent in securing shirtmaker Hawes & Curtis at its redevelopment of 200 Piccadilly and 34-36 Jermyn Street.
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Newbury park fully let
08 September 2006
F&C Property Asset Management has secured five new tenants for its extended Newbury Retail Park.
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O Twelve scoops £17m of Thames Gateway property
11 September 2006
O Twelve Estates has acquired £17m of mixed properties in the Thames Gateway, bringing total investment for the AIM-listed company to £56m since March
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O’Connor offloads in Essex
08 September 2006
US property company O’Connor Capital Partners is poised to sell two empty warehouses in Thurrock, Essex, for £20m.
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On-site renewables news
08 September 2006
Sir, I would like to draw your readers’ attention to developments in renewable energy.
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Orb Estates developer gets eight years
12 September 2006
Gerald Smith, the property developer behind Orb Estates, was yesterday sentenced to eight years in prison for stealing £34m from e-commerce company Izodia.
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Out of fish world
08 September 2006
I’m always a sucker for ‘mine’s bigger than yours’ stories. Cushman & Wakefield investment agent Gary Robinson will take some beating in the size stakes.
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Peel Holdings unveils massive Wirral waterside scheme
6 September 2006
Peel Holdings, the owner of Mersey Docks & Harbour Company and Liverpool John Lennon Airport, today unveiled plans for the largest scheme in the UK.
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Pret detective
08 September 2006
We made the mistake last week of saying that Pret A Manger joint-founder and Hoxton hotel developer Sinclair Beecham previously worked at Hillier Parker.
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ProLogis to float E4.2bn European operation
11 September 2006
The world's biggest distribution property owner, unveiled plans this week to float its E4.2bn (£2.85bn) European operation at the end of this month
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Property's dirty secrets
08 September 2006
Laundering the proceeds from gun-running, drugs, prostitution and people-trafficking is endemic in property. Mark Shepherd explains how you can stamp it out.
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PWC ponders City pair
08 September 2006
PricewaterhouseCoopers has shortlisted two buildings for its new 400,000 sq ft (37,161 sq m) central London headquarters.
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Quintain chief to pioneer environmental summit
08 September 2006
Wyatt to team up with ‘business leaders’ for April 2007 London sustainability event
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RAC Auto Windscreens
08 September 2006
RAC Auto Windscreens has taken 8,610 sq ft (800 sq m) at West Quay Trade Park in Southampton from JWT Estates at more than £10/sq ft (£107.64/sq m) on a 15-year lease. Vail Williams acted for JWT Estates.
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Reading the market
08 September 2006
Is Morley Fund Management right to back PMB’s speculative tower when take-up is at an ’all-time low’?
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Retailers lobby local authorities
08 September 2006
The British Retail Consortium is stepping up its campaign to introduce monthly rents by lobbying the UK’s 471 councils.
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Ritchie’s Residential Land snaps up Pimlico block
08 September 2006
Seven flats on Thames acquired from Robert Bourne
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Roadside
08 September 2006
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RTPI rebuts CPRE developer dig
08 September 2006
Planners have hit back at claims by the Campaign to Protect Rural England that the nation’s landscape is under threat from developers.
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Savills ends Glenny takeover talks
08 September 2006
Savills has ended takeover talks with Glenny, the leading property services firm in the Thames Gateway.
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Service charge ‘web’ about to be broken
08 September 2006
Sir, Landlords and their agents have limped along for years relying on the recovery of their common parts costs through intricately worded service charge provisions introduced into commercial leases by their legal advisers.
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Shareholding restrictions could stifle REITs
08 September 2006
Nearly a third of probable REIT investors believe the current 10% shareholding restriction will render the tax-exempt investment vehicles unworkable.
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Siemens ends DevSecs’ barren run at Frimley Square
08 September 2006
Electronics manufacturer poised to take Camberley HQ in 182,000 sq ft letting
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St Modwen wins £100m regeneration project
6 September 2006
St Modwen Properties has been selected as developer for the £100m Skelmersdale town centre project by English Partnerships and West Lancashire District Council
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Susskind playboy keeps abreast of the market
08 September 2006
Richard Susskind & Co is often referred to as a ‘City fringe specialist’. However, this could be about to change.
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Swayfields to build UK’s largest services
08 September 2006
Developer to construct four services areas for more than £100m
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Sydney & London left in Exeter airport battle
08 September 2006
Sydney & London Properties is the only property company left in the battle for Exeter International airport
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The Junction sells four parks
12 September 2006
Capital & Regional and Morley Fund Management’s retail warehouse fund The Junction has sold four of its parks
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The legality of fax contracts
08 September 2006
Question: I am buying a building and the seller has faxed me a copy of the agreement signed by me. Are we allowed to exchange contracts using this?
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The market in minutes
08 September 2006
Deirdre Hipwell gives you the lowdown on all the sectors across the region
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The market in minutes
08 September 2006
Adam Benzine gives you the lowdown on all the sectors across the region
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Thurber to retire as head of LaSalle
7 September 2006
Lynn Thurber will retire as head of Jones Lang LaSalle’s fund management arm, LaSalle Investment Management, at the end of this year and will be succeeded by existing European chief Jeff Jacobson.
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Tomorrow people
08 September 2006
Hopes of an upturn in the occupier market have created a wave of investment deals in Reading. Deirdre Hipwell reports
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Trade pretenders
08 September 2006
There are many challengers to Reading’s position as Berkshire’s number one retail destination. Deirdre Hipwell reports
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Transatlantic gamble
08 September 2006
As part of its tour of potential locations for the UK’s first regional casino, the Casino Advisory Panel visits Blackpool. Sean McAllister visited its ‘twin city’, Atlantic City in New Jersey, to explore whether casinos really can be used as a regeneration tool
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Trouble on site
08 September 2006
Student standards
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Welcome to Saga hotels
08 September 2006
Over-50s lifestyle group prepares to scour Europe for £100m of hotels
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Whatever floats your boat
08 September 2006
Congratulations to Toby Hall from EA Shaw who won tickets to the Anglo Irish Bank Trophy, the property industry’s inaugural sailing regatta.
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Wilson Bowdens Brum steel deal
08 September 2006
Wilson Bowden has agreed a 104,000 sq ft (966 sq m) prelet at Nexus Point, Holford, Birmingham, to German-owned ThyssenKrupp Stainless UK.
