11 August 2006
Property Week
View all stories from this issue.
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...and recruits academic as head of forecasting
11 August 2006
Jones Lang LaSalle has recruited leading property academic Tony McGough as its head of UK and European real estate forecasting.
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‘Keep Britain weird’ and outlawthe clones
11 August 2006
Talking shop, with Fiona Hamilton
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20-30-40-50
8 August 2006
Each week we meet a property character from a different age bracket. This week Mark Shepherd meets Daniel Levy, 34, head of property litigation at Mishcon de Reya
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A disservice charge
11 August 2006
Sir, I have now had the time to absorb the RICS service charge code (professional + legal news, 30.06.06) and am asking myself what the tenant is getting out of this. Criticism of bureaucracy is a national trait, and this code introduces layers of it past my imagination.
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ABN AMRO and Merrill Lynch in first sub-sector specific property derivatives swap
9 August 2006
ABN AMRO and Merrill Lynch today revealed they had executed the UK’s first sub-sector specific property derivatives swap.
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Age discrimination
11 August 2006
Question: Will the new age discrimination rules have any impact on partnerships?
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AIFs need to beAIFs need to be on a level playing field with REITs
11 August 2006
Government must ensure tax parity, says Melville Rodrigues
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AIM-listed Trinity forges Indian partnership
11 August 2006
AIM-listed Indian investment company Trinity Capital has joined forces with one of India’s biggest property services firms to develop real estate and infrastructure in the country’s burgeoning market.
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Allan to start new term as head of Unite
11 August 2006
Incoming chief executive outlines his plans for student accommodation provider.
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Amsprop Estates is set to buy IBM’s South Bank office
10 August 2006
Sir Alan Sugar’s property company Amsprop Estates is set to buy IBM’s office on London’s South Bank.
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Ask unveils partnership with Morgan Stanley
9 August 2006
North-west developer Ask Developments today announced an investment and development partnership with Morgan Stanley Real Estate.
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Atlas Capital Group buys Cannon Bridge House
17 August 2006
It was revealed this morning that the US property investment vehicle bought the property at 25 Dowgate Hill in the City of London for £206m.
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Battersea Power Station: should it stay or should it go?
11 August 2006
Sir, I work as an architect in Battersea and I am a member of Battersea Power Station Community Group (BPSCG), which has campaigned to preserve the building since its closure in 1983.
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Bear Stearns announces European headquarters at Canary Wharf
8 August 2006
Bear Stearns confirmed this morning that it would base its new European headquarters at Canary Wharf.
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Bear Stearns’ new Canary Wharf lair
11 August 2006
Bear Stearns has confirmed that it has taken a prelet of most of Canary Wharf Group’s proposed tower at 5 Churchill Place.
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Belfast offices rally with Capita letting
11 August 2006
Donegall Square deal follows flurry of activity in city’s market
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Blackpool conference and casino plans submitted
8 August 2006
The planning application for a new conference and casino quarter in Blackpool was submitted to the council.
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Book reviews
11 August 2006
Summer reading, with Ian Wall
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Bournelodge
11 August 2006
Paul Bewers’ Bournelodge has won planning permission to redevelop and extend the Axis Centre office scheme in Leatherhead. Bournelodge and development partner Frogmore propose to develop a further 20,000 sq ft (1,858 sq m) at the scheme, which was bought from Slough Estates in 2005. Completion of the first phase is expected in February 2007.
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British Land and Tesco sell Weston Favell
10 August 2006
British Land and Tesco have sold their edge-of-town Weston Favell shopping centre in Northampton for £122m.
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Brixton acquires Poyle 13 estate in Heathrow
16 August 2006
Brixton has acquired Threadneedle Property Investments’ Poyle 13 estate in Heathrow for £50m.
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Brixton buys Guinness site
21 August 2006
Brixton has bought the old Guinness brewery site in West London to develop into an industrial park
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Business crime in cities costs firms £700m
11 August 2006
Theft, malicious damage and arson are costing British businesses more than £700m a year.
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Candys in tax investigation
11 August 2006
Property entrepreneurs Nick and Christian Candy’s private company Candy & Candy is under investigation by Revenue and Customs over its tax affairs.
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Capco clinches £421m Covent Garden
11 August 2006
Capital & Counties confirmed this week its £421m purchase of the famous 7 acre (2.8 ha) Covent Garden market and piazza.
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Carbon kickbacks
11 August 2006
Why are so few developers and investors taking advantage of the government’s green development tax breaks?
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Case news
11 August 2006
Warren Gordon reviews a case involving an assured shorthold tenancy, while Jonathan Ross looks at whether a business can renew its lease when it is not in actual occupation
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Cerberus buys £7.5m Southport industrial park
11 August 2006
Cerberus Property, owned by the Pervaiz Naviede Family Trust, has bought the Rufford Road industrial estate in Crossens, near Southport, for a price reflecting a net initial yield of 3.96%.
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Changing of the Shard
11 August 2006
Transport for London’s widely anticipated prelet is set to give the offices, residential and hotel mix that is the ‘Shard’ a new lease of life.
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City view: James Whitmore
11 August 2006
It was a big surprise to see Singer & Friedlander emerge at the end of June as the debt financier of the 3 acre Middlesex Hospital development site in central London.
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Civil investigations
11 August 2006
Question: My development company is to be investigated by the Special Civil Investigations (SCI) office of Revenue and Customs as part of a random enquiry. What will this involve and is there anything I can do to prepare?
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Clients of CB Richard Ellis Investors aquire Canon Industrial Park Freehold
17 August 2006
The freehold interest for the park in Old Wolverton, Milton Keynes for was sold for £14.1m
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Cock-up in Galway
11 August 2006
To the fashionable Galway Races in the west of Ireland last week, where it seems every effort was made to make the races enjoyable for all, including the horses.
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Country-phile
11 August 2006
Ed Gamble, a Birmingham-based Jones Lang LaSalle investment agent, recently appeared on BBC2’s afternoon property-finding show Escape to the Country.
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Crown Estate swaps £74m of properties
11 August 2006
The Crown Estate has carried out £74m of ‘swap’ deals with Axa REIM and Derwent Valley involving seven properties.
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Crown Estates overhaul
11 August 2006
The Crown Estate last week completed the overhaul of its legal panel by awarding three-year contracts to Forsters and Burges Salmon.
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DB Real Estate
11 August 2006
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Debenhams buys Roches Stores
8 August 2006
Debenhams has announced the purchase of Irish department store chain Roches Stores in a €29m (£19m) deal.
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Debenhams to open Capital Shopping Centres’ store
15 August 2006
Debenhams is to open a department store at Capital Shopping Centres’ extension of Eldon Square shopping centre in Newcastle
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Debt rises to £149bn
11 August 2006
Property Debt in the uk has grown to £149bn.
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Diary of... a building surveyor
11 August 2006
Andrew Chisholm, managing director of CNP, takes us through his week
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Draco ends first year on high
11 August 2006
But Rob Greacen’s private investment group frustrated by competition from cash-rich institutions
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Energy-inefficient buildings: ‘investment timebombs’
11 August 2006
New energy-performance legislation could dramatically undermine capital values, claims report
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Engel East Europe makes debut in Romania
16 August 2006
AIM-listed residential property developer Engel East Europe has made its debut investment in Romania, it was revealed today.
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Enstar spends £11m on German supermarkets
11 August 2006
Mayfair-based Enstar Capital has spent €11m (£7.4m) on four neighbourhood supermarkets in northern Germany.
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First subsector-specific derivatives swap trade
11 August 2006
ABN AMRO and Merrill Lynch have struck the UK’s first subsector-specific property derivatives swap.
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Fortis strengthens City at Aldermanbury
11 August 2006
Benelux bank beats rival to 156,000 sq ft at Widows/Teachers scheme
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Freeport in talks with potential bidders.
10 August 2006
Freeport, the European factory outlet developer in which activist investor Laxey Partners has a 29.75% stake, is in talks with potential bidders.
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From loans to Sloanes: Cowham’s upmarket shops
11 August 2006
Loans.co.uk founder to launch ‘freshen-up and shop’ concept for wealthy women
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Going places
11 August 2006
This week's movers
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Hammerson sells £37.5m Cardiff retail park
14 August 2006
Hammerson has exchanged contracts to sell a retail park in Cardiff for £37.5m.
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Hammerson to sell Liberty Shopping Centre
21 August 2006
Hammerson has exchanged contracts to sell Liberty Shopping Centre in Romford to Dublin-based Cosgrave Property Group for £281m
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Hitchcox plans towers north by north-west
11 August 2006
Manhattan Loft founder to build £130m Manchester scheme and Europe’s tallest resi tower in Leeds
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Hotter than July
11 August 2006
Last summer UK housing was in the doldrums, but Barratt’s latest trading statements show confidence in the market is on the rise.
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House prices will continue to rise after interest rate hike
11 August 2006
Residential prices will grow on back of imbalance between supply and demand
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ING nails £230m Wood St to new fund
11 August 2006
Covent Garden Fund revamped as Central London Fund
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ING Retail Property Fund buys £75m shopping centre
15 August 2006
ING Retail Property Fund Britannica has splashed out £75m on a shopping centre in St Helens, near Liverpool.
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Investors rise to the university challenge
11 August 2006
The great talking point at the moment is whether or not the UK investment market has peaked.
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JLL to sublet West End HQ space...
11 August 2006
Jones Lang LaSalle is to sublet space at its London headquarters at 22 Hanover Square after agreeing to renew its lease with Scottish Widows Investment Partnership (SWIP).
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July marks annual commercial property dip
15 August 2006
The UK commercial property market suffered its traditional dip in July with a total return of 1.3%.
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Knight Frank
11 August 2006
The Knight Frank Prime Country House Index shows a 3.9% rise in average country house prices during the three months to the end of June 2006 – the highest rate of growth since March 2004. The value of manor houses such as the £2.8m Old Pond House in Windsor, Berkshire (above), rose by 10.2% in the year to June 2006.
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Laidlaw and Channing wave goodbye to Scottish Widows
11 August 2006
Pioneering property chief and his deputy leave to set up new venture
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LandSecs wins nod for Thanet leisure scheme
11 August 2006
Land Securities is to develop a leisure scheme next to its Westwood Cross shopping park in Thanet, Kent.
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Livingstones exercise Esporta acquisition
11 August 2006
London & Regional in talks to buy 52-strong fitness and leisure group
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London retail summit: Ken’s in the bag
11 August 2006
Mayor of London Ken Livingstone is to be a keynote speaker at Property Week’s London Retail Summit at Centre Point on 10 October, hosted with the Central London Partnership and the New West End Company.
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Mersey Property Company submits hotel and tower plans
9 August 2006
Mersey Property Company has submitted a planning application for Liverpool's Princes Dock.
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Mills Corporation sells St Enoch Centre interest to Ivanhoe Cambridge
18 August 2006
The struggling US shopping centre developer has sold its 50% interest in the St Enoch Centre in Glasgow
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Missoni fashions five-star City hotel
11 August 2006
Italian fashion house in talks as part of mixed-use push at Cutlers Gardens
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Mix and match
11 August 2006
Getting the different components to work together is one of the toughest challenges in developing a mixed-use scheme.
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Mixed use
11 August 2006
Hitchcox plans towers north by north-west Changing of the Shard Mix and match
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Morgan Stanley acquires 25% of north-west Ask
11 August 2006
Morgan Stanley Real Estate has acquired a 25% stake in north-west developer Ask Developments.
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Multi Development secures Odeon
14 August 2006
Multi Development secures Odeon as an anchor for the leisure element of its £320m mixed-use Victoria Square scheme in Belfast.
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Multiplex pulls out of White City
17 August 2006
Multiplex today revealed it was pulling out of the construction of White City shopping centre being developed by rival Australian property company Westfield.
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Occupational therapy
11 August 2006
The Equal Partners study suggests ways to mend the growing void between the objectives of occupiers and owners
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Ofex company buys 24m rival
11 August 2006
GSC Property Holdings, the OFEX-listed property investment company, has bought Astimwood Properties for £24m.
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Opaque practice
11 August 2006
Brokers and property managers may soon be forced to reveal how much commission they receive for arranging insurance.
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Personnel changes for Knight Frank, Leeds
18 August 2006
Knight Frank reshuffles Leeds office after three senior staff leave
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Property companies, fund managers and banks talk REITS
16 August 2006
More than 30 quoted property companies, fund managers and banks have teamed up in a campaign to increase public understanding of the UK REIT
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Property partners
11 August 2006
Developing in an area such as the Thames Gateway may limit architects, writes Mark Shepherd
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Property share prices rise
15 August 2006
Property share prices received a boost this morning after British Land revealed a strong set of quarterly results
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Property tax + insurance
11 August 2006
Energy-inefficient buildings: investment timebombs Business crime in cities costs firms 700m Carbon kickbacks Opaque practice
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Quinlan targets US for $1bn European fund
11 August 2006
Peter Vanderslice appointed to head New York office
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Quintain and Hilton international get together
9 August 2006
Quintain has teamed up with Hilton International to develop a 400-bedroom hotel at Wembley.
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Real estate investment up 30%
8 August 2006
Real estate investment in Europe rocketed in the first half of 2006, up 30% on the same period last year.
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Reflected Glory
11 August 2006
A Celtic mirror dating from 80 BC has been unearthed during excavation work in Bromham near Gazeley’s G Park Bedford site.
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Regus takes over Laptop Lane and Managed Office Solutions
16 August 2006
The world’s largest provider of outsourced workplaces, has taken over two of its smaller office outsourcing rivals
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Scottish Widows property managers stand down
10 August 2006
The top two property managers at Scottish Widows Investment Partnership have resigned to set up on their own
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Scottish Widows’ UK Balanced Property Trust aquires £24.78m portfolio
16 August 2006
Scottish Widows’ UK Balanced Property Trust has acquired a portfolio of 6 properties for £24.78m.
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Section 106 inertia prompts government aid plan
11 August 2006
60% of large residential consents have no planning gain agreement
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Selling at auction
11 August 2006
Question: I have recently inherited a commercial property that I would like to sell. Would an auction be the best place to sell it?
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Shard signs TfL for offices
11 August 2006
Transport for London signed up to be the first office occupier at the 66-storey Shard skyscraper at London Bridge this week.
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Sniff dips toes in Office’s market
11 August 2006
Former directors of footwear chain Office have appointed Churston Heard to search for further stores after a successful launch of their debut shop, Sniff, in London’s West End.
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South Quays
11 August 2006
The South West of England Regional Development Agency is to apply for planning permission to develop South Quays in Bath. It wants to build the Dyson School of Design Innovation (above), which will provide vocational courses in engineering and design. The University of Bath’s school of art and design plans to relocate to the site.
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Southern Cross creditors receive victory payout
11 August 2006
‘Initial investor’ Davenport agrees multimillion-pound settlement with liquidators
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Southern Cross payout victory
11 August 2006
'Initial investor' Davenport agrees multimillion-pound settlement with liquidators
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St James Reading envirohome
11 August 2006
St James Group claims to be the first UK housebuilder to offer prospective buyers a package of eco-options for their new homes after unveiling ‘envirohome’ at its Kennet Island scheme in Reading.
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Stratford City development takes step forward
10 August 2006
London & Continental Railways (LCR) and the Olympic Delivery Authority (ODA) revealed a shortlist of three bidders for the development
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Stratford City field narrows to four
11 August 2006
Lend Lease, Persimmon, Kier and Barratt vie for residential-led phases
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Swingers party
11 August 2006
To the Connaught Mason golf day at Farnham Golf Club, where I was surprised to see former athlete Kriss Akabusi, the man with the famously loud laugh, swinging his seven iron.
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The glorious game
11 August 2006
The property industry heads north this weekend for the start of the UK grouse season.
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The Rating multiplier
11 August 2006
Could ‘class actions’ be the answer to the spiralling cost of business rate appeals?
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The wheel deal
11 August 2006
And finally, my old friend Robert Maxted of Pillar, Chesterfield and now Ardwood fame is cycling from Paris to London on 14 September.
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Trafford Centre snow village - work gets underway
16 August 2006
Work is to start next week on a £31m indoor snow village next to the Trafford Centre, Manchester.
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Transport for London to occupy the Shard
9 August 2006
TFL has signed up to become the first office occupier at the Shard, London Bridge
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Tri again
11 August 2006
My congratulations go out to property lawyer Jill Parker, who has qualified for the Great Britain team for the 2006 Triathlon World Championships in Lausanne, Switzerland, in early September.
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TriGranit works up plans for €2bn flotation
11 August 2006
The Hungarian property developer is working up plans for a €2bn flotation in London or Vienna.
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Trouble on site
11 August 2006
Make your mind up
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Valuation for insurance is a whole other minefield
11 August 2006
But it is still an important issue for property owners
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Win two tickets to the Anglo Irish Bank Trophy
11 August 2006
Anglo Irish Bank is delighted to offer two free hospitality tickets to the Anglo Irish Bank Trophy.The prize includes one day on the luxury motor yacht Rum Jungle, tickets to the evening Caribbean Party and accommodation in Cowes. To enter the free prize draw simply Click here
