13 January 2012
Property Week
View all stories from this issue.
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A temporary approach is here to stay
13 January 2012
Urban development guru Peter Bishop, former design director of the London Development Agency, and writer and sculptor Lesley Williams have co-written The Temporary City, which makes for a hugely inspiring read.
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John D Wood debuts in Egypt
13 January 2012
John D Wood, the 140-year-old Mayfair-based property services firm, is expanding overseas for the first time by opening an office in Egypt.
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Malmaison and De Vere in chief executives swap
12 January 2012
Two major hotel operators, Malmaison and De Vere, have swapped chief executives.
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Welbeck’s Whitehall Met buy snubs MPs
13 January 2012
Parliament fails to prevent police force selling property in government heartland
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‘Anglosphere’ will struggle to repeat last year's performance
13 January 2012
From a capital market perspective 2011 could best be described as the triumph of the “Anglosphere”. The Standard & Poor’s 500 index returned 2.1%, outstripping the markets of all the other large economies. UK equities were down 2.6%, which compares more than favourably with declines of 16.5% for Germany, 15% for France, 21.4% for Italy, 18.7% for Japan and 14.4% for emerging markets.
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A matter of principal
13 January 2012
Gerald Ronson is vying for the chance to develop the 50-storey residential tower that forms part of Hammerson’s Principal Place scheme in London’s Shoreditch.
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Accenture brings north-east cheer
13 January 2012
Consulting firm Accenture has signed a 30,000 sq ft lease at a business park in north-east England.
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Administrators prepare to market Beetham Liverpool Tower
12 January 2012
Administrators to the company which owned Liverpool’s West Tower have said they are finally ready to begin marketing the building after hammering out a deal with the City Council over land infringements, TheBusinessDesk.com reported today.
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Admiral in talks to take new office block in Newport
12 January 2012
Admiral Group has announced provisional plans to take a 20-year lease on a new office building in Newport, as part of its expansion in Wales.
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Arrival of new lenders will be finance story of the decade
13 January 2012
Who will fill the hole left by the retreating banks?
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Asda to open at Mitcham retail warehouse park
9 January 2012
Asda is to open a 27,000 sq ft store at a retail warehouse park in Mitcham, south London, after agreeing a deal with landlord LaSalle Investment Management.
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Axa prepares €2.5bn European development spree
9 January 2012
Axa Real Estate Investment Managers is preparing to spend up to €2.5bn on developments across Europe, after raising €588.5m for its European Development fund.
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Bahraini backs student digs
13 January 2012
Tadhamon Capital makes UK student housing debut with 50% stake in Suffolk scheme
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Barratt cheers resi market with revenue and profit surge
12 January 2012
Barratt Developments gave the residential markets reason for cheer this morning as it reported bigger revenues and profits in the second half of the year.
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Big Yellow reports year-on-year occupancy increase
11 January 2012
Listed self-storage company Big Yellow today reported increased occupancy in its units, in spite of the wider economic gloom.
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BNP Paribas Real Estate Logistics Index - November 2011
9 December 2011
Our statistics for the supply of warehousing in the UK Logistics market would seem to paint a fairly healthy picture for the occupier with 147million sq ft of property on the market.
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BPF warns JD Sports over Blacks renegotiations
13 January 2012
The British Property Federation has warned JD Sports over renegotiating Blacks leases that have already been changed during the company’s previous ownership.
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British Land CEO tops pay list as Cameron plans clampdown
13 January 2012
Our research show pay in line with performance
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Brum consent set to land European debut for major hotelier
12 January 2012
Australian hotelier Staywell Group will make its European debut on Birmingham’s Broad Street if planners give the go ahead to a major redevelopment today.
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Bruntwood close to first Manchester sale
13 January 2012
Bruntwood is expected to complete a deal next week to sell its 1 New York Street office scheme in Manchester to Invesco.
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Buyers return to holiday home ghost towns
13 January 2012
Cornwall Council accepts retrospective social housing contribution. Christine Eade reports
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Cadogan picks Executive Offices for Knightsbridge property
12 January 2012
The Cadogan Estate has chosen serviced offices operator Executive Offices Group to manage its 45 Pont Street property in Knightsbridge.
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Cala extends debt facility with Lloyds
11 January 2012
Housebuilder Cala Group has extended its debt facility with Lloyds Banking Group until the end of 2014.
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Cameron's euro veto treat
13 January 2012
Sir, Prime minister David Cameron’s veto of the Lisbon treaty renegotiation will hopefully enable the UK to regain full independence from the eurozone.
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Canmoor motors ahead with trio of purchases
13 January 2012
Industrial developer Canmoor has completed three transactions to buy a £28m warehouse portfolio and more than 25 acres of land.
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CBRE appointed to manage La Senza portfolio
13 January 2012
The new Kuwaiti owner of lingerie chain La Senza has appointed CBRE to manage its UK portfolio.
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CBRE: How active are retailers in EMEA?
25 November 2011
Retailers continue to expand their store networks, in many cases aggressively, in spite of the challenging consumer environment and an increasing share of spending online.
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Chips on the old block
13 January 2012
How does a well-established brand called London Fish & Chips come to be opening its first UK store in March?
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Christmas cheer at Bluewater
9 January 2012
Bluewater has reported a strong Christmas period in which footfall for December was up 8% compared with the previous year.
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Colliers International: South East Offices Snapshot - November 2011
9 December 2011
Total M25 availability fell for the second successive quarter to stand at its lowest level for 12 months.
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Colliers poaches CBRE Hotels director
9 January 2012
Colliers International has hired a director to its licensed & leisure team from CBRE Hotels.
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Co-Op buys 30-store Scottish supermarket chain
11 January 2012
The Co-operative Group has bought a chain of nearly 30 Scottish supermarkets and reported “encouragingly good” festive sales figures, TheBusinessDesk.com reported today.
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Cornish Pirates hook 10,000-seat Truro stadium
13 January 2012
The Cornish Pirates failed to gain promotion from the Rugby Football Union’s Championship to the Premiership league last May in a play-off that the Pirates lost on aggregate 46-32 to the Worcester Warriors.
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Councils to be given NPPF transitional arrangements next week
13 January 2012
The government will set out details of transitional arrangements for local authorities to adapt to the controversial planning reforms early next week rather than in the revised National Planning Policy Framework (NPPF) as expected, Property Week can reveal.
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Deposits have had obligations since the dawn of time
13 January 2012
The message Failure to make timely payment of a deposit normally allows the seller to end the contract
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Designers at Debenhams hope to defy downturn
13 January 2012
Department store presses ahead with plans for upgrade and expansion. David Hatcher reports
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Developers fear complex plan will kill West End schemes
13 January 2012
Council gives preference to residential developers. Nick Johnstone reports
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DevSecs begins to recycle assets
10 January 2012
Development Securities today said that it had begun to profit from selling out of assets bought during the past three years.
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DTZ appoints former NB Real Estate chief and Strutt & Parker partner
9 January 2012
DTZ has made two major appointments, hiring Michael Hatt, the former group chief executive of NB Real Estate, and a national offices partner from Strutt & Parker.
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DTZ: UK Fair Value Q3 2011
25 November 2011
In Q3 2011 the DTZ Fair Value IndexTM score for the UK dropped to 33. The score indicates that the market outlook has become more challenging this quarter, with fewer attractive investment opportunities in the UK.
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DTZ: UK Update - November 2011
9 December 2011
All Property monthly total return was once again broadly stable in October at 0.59%. Total return was mostly attributable to income return. Capital growth was effectively zero.
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Eddisons plans Irish expansion
12 January 2012
Leeds-based surveying firm Eddisons has unveiled growth plans including the launch of a new division and the opening of offices in Ireland, TheBusinessDesk.com reported today.
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English Heritage to rescue
13 January 2012
Sir, We are a small developer that has successfully rejuvenated various listed buildings throughout the UK.
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Ernesto Bertarelli takes Mayfair lease
13 January 2012
Ernesto Bertarelli’s group of companies has signed a 26,000 sq ft lease at One Curzon Street in London’s Mayfair.
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Estate Four puts Howick Place property on the market
13 January 2012
Pury and simple: an Italian development company has put a £60m block in London’s Victoria up for sale.
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Exeter Gateway bags Sainsbury’s
13 January 2012
Exeter Gateway, a rail freight terminal to the north-east of the city centre, is about to clinch its first key occupier, J Sainsbury.
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Fewer insolvencies in property in fourth quarter
13 January 2012
The rate at which property companies are going insolvent slowed towards the end of 2011.
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Former King Sturge partner leaves Jones Lang LaSalle
12 January 2012
The former head of City agency at King Sturge has left Jones Lang LaSalle to set up his own company.
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Gamble's boxing clever
13 January 2012
Images of workers carrying boxes from an office bring to mind tear-jerking thoughts of job losses and lives ruined.
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Gary Neville submits Manchester United supporters' hotel plans
12 January 2012
Former Manchester United defender gary Neville has teamed up with a supporters’ club to submit plans for a hotel and amenity building in the shadow of Old Trafford stadium, TheBusinessDesk.com reported today.
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Gerald Eve InvBrief: Property Investment Market
12 January 2012
The release of the second estimate of Q3 GDP figures by the Office for National Statistics revealed that there were no significant changesto the headline GDP figure of 0.5%, up from (a downwardly revised) 0.1% in Q2.
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Government unveils Airport City masterplan
12 January 2012
Chancellor George Osborne will today unveil a masterplan by MAG Developments for the Airport City scheme near Manchester Airport.
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Green light for car manufacturing at historic Jaguar site
13 January 2012
Coventry-based automotive group CPP Global Holdings has been granted planning permission for a 109,000 sq ft production facility on the former Jaguar site in Coventry, TheBusinessDesk.com reported today.
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Greggs plans expansion and reveals bumper Christmas
11 January 2012
Bakery chain Greggs said it would open 90 stores this year as it reported a bumper performance in the five week Christmas and New Year period.
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Grosvenor buys in France
12 January 2012
Grosvenor has bought a retail complex in north-east France for €30m.
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Grosvenor's Preston joins Persimmon as non-exec
9 January 2012
Mark Preston, group chief executive of Grosvenor, has joined house-builder Persimmon as a non-executive director.
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Hammerson’s Principal aim to sell stake in City scheme
13 January 2012
REIT to offload £155m half-share in Square Mile flagship asset to reduce exposure to large-scale development
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Harbert to buy IQ Farnborough
6 January 2012
Harbert has placed Segro’s IQ Farnborough business park under offer for approximately £90m.
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Harvey Nicks to open at Liverpool One
10 January 2012
Harvey Nichols has announced that it is to open a new concept smaller store at Grosvenor’s Liverpool One scheme, TheBusinessDesk.com reported today.
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Hatt fits at DTZ
13 January 2012
DTZ has made two senior hires: Mike Hatt, former group chief executive of NB Real Estate, and a national offices partner from Strutt & Parker.
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Henderson bets on ‘star’ German sheds
13 January 2012
Henderson Global Investors has raised a further €90m of equity for its Henderson German Retail Income Fund.
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Henderson: European Retail Warehousing - November 2011
9 December 2011
During 2010 we wrote a “Think” report about European retail warehousing and asked, “will this rough diamond get its sparkle back?” In mid 2010 we had seen approximately twelve months of either stabilisation or recovery in prime property markets but the retail warehouse sector had largely been overlooked by investors.
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Home Builders Federation: Broken Ladder 2 - November 2011
9 December 2011
While owner occupancy is still the most popular form of tenure - with over 80% of the population aspiring to own their own home - the number of people actually getting a foot on the property ladder has fallen considerably since around 2003.
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Home Retail Group abandons HomeStore & More format
12 January 2012
Home Retail Group, owner of the Argos and Homebase brands, is abandoning its HomeStore & More homewares format.
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Industry backs HS2 high-speed rail link
13 January 2012
The RICS has come out in support of HS2, the high-speed rail link that will connect London with Birmingham, following the government rubber-stamping the project on Tuesday.
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INTELLIGENCE Cushman & Wakefield prime yields
13 January 2012
Demand is there but what about the debt?
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Investors and managers must work on communication skills
13 January 2012
Fund managers prioritise quantity over quality, PWC report reveals
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IPD puts South Bank on the map with new index
13 January 2012
The performance of more than 40 offices in and around London’s South Bank is to be tracked by an IPD-measured index.
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JD Sports completes Blacks prepack deal
9 January 2012
JD Sports has bought Blacks Leisure out of administration in a £20m pre-pack deal.
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JLL appointed to Minerva's major City offices
12 January 2012
Jones Lang LaSalle has been appointed to market Minerva’s St Botolph’s and Walbrook office developments in the City of London.
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Kallakis: I was never going to profit from HBOS and AIB deals
13 January 2012
Achilleas Kallakis, the property and shipping tycoon accused of defrauding Allied Irish Bank and Halifax Bank of Scotland, this morning denied he was the ultimate beneficiary of the deals which saw the banks lose £60m.
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Knight Frank Residential Research: Prime Global Forecast - Q4 2011
12 January 2012
Before 2007 the global housing market was a much simpler subject to analyse. Prices and demand rose year-on-year pretty much everywhere and at almost every level of the market.
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Knight Frank: Greater China Property - 2011 Yearly Review
12 January 2012
Over 2011, the Mainland government introduced a number of buying restrictions to help curb the rise in home prices.
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Knight Frank: Hong Kong Prime Office Monthly Report - December 2011
12 January 2012
Sentiment in the offices sales market improved slightly over the past month, following the reduction of borrowing costs by six foreign central banks.
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Kumpulan Wang Persaraan buys ASX Building in Sydney
13 January 2012
Malaysian takes stock: Malaysian pension fund the Kumpulan Wang Persaraan has bought the 14-storey ASX Building, which houses the Australian Stock Exchange, in the heart of the city’s financial district in Sydney for £125m.
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La Senza prepack deal can’t save whole business
9 January 2012
Lingerie retailer La Senza has appointed KPMG as administrators and sold part of the business to a Kuwait-based franchise operator, Alshaya UK, in a prepack deal.
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Lambert Smith Hampton set for big Edinburgh win
13 January 2012
City of Edinburgh Council is considering a large outsource of facilities and property management to Lambert Smith Hampton, as part of a wider partnership with outsourcing firm MITIE.
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LaSalle buys Market Walk Shopping Centre
13 January 2012
LaSalle Investment Management has bought Market Walk Shopping Centre in Devon for £12.75m.
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LaSalle buys Newcastle student accommodation
9 January 2012
LaSalle Investment Management has bought two student accommodation blocks in Newcastle for £23.1m.
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LXB nabs Morrisons in Stafford
12 January 2012
LXB Retail Properties has secured an option to buy an eight acre site in Kingsmead, Stafford for £16.9m and has pre-let a 71,500 sq ft supermarket on the site to Morrisons.
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Malaysian fund ponders purchase of KanAm’s £1bn City of London portfolio
13 January 2012
Malaysian investment fund PNB is in talks to buy some or all of a £1bn City of London and Docklands office portfolio.
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Marginal Christmas growth for JD Sports
12 January 2012
Like-for-like sales at JD Sports grew by 0.1% in the Christmas trading period, a result hailed by its chief executive as “creditable” in the bleak economic environment.
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Mary goes to market for town centres
13 January 2012
Sir, There is no silver bullet and Mary Portas, sensibly, does not suggest there is. She has been asked to find a cure for a disease that has been developing over 40 years or more.
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Medicine men: Inside the Wellcome Trust's investment strategy
13 January 2012
How does the investment division of a medical charity consistently outperform the rest of the market? Mike Phillips spoke to the Wellcome Trust’s Danny Truell and Peter Pereira Gray to find out
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MGPA to buy £53m Hammersmith block
13 January 2012
MGPA is to buy a £53m block in London’s Hammersmith from CBRE Global Investors, to tap into declining supply in the borough.
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MOD steps up search for property partner
6 January 2012
The Ministry of Defence’s property and infrastructure arm has issued a formal call to private sector companies interested in managing the department’s estate.
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More retail woe as Game Group reveals likely debt covenant breach
10 January 2012
Listed computer game retailer Game Group today revealed that it was likely to breach a key debt covenant when it is next tested in February after a sharp drop in Christmas trading.
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Morrisons could rescue crumbling Plymouth city centre
13 January 2012
Colin Campbell Court could be razed to make way for huge supermarket. Christine Eade reports
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Oakeshott’s OLIM profits from market distress
13 January 2012
Investor picks up £80m of smaller-sized bargains from receivers. Mike Phillips reports
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Olympic Park’s value ‘drops by 75%’
13 January 2012
The value of London’s Olympic Park has fallen significantly since £750m was spent on 500 acres of land for the site, a Jones Lang LaSalle valuation suggests.
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Paternoster Square joins anti-protestor camp
13 January 2012
The property management firm that owns Paternoster Square in the City has been granted a year-long injunction banning Occupy London protesters from setting up camp outside Goldman Sachs’ offices near St Paul’s Cathedral.
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People Moves: Savills, Hampton International, Lambert Smith Hampton and more...
13 January 2012
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Petrol group gains Patron
13 January 2012
Patron Capital has bought Motor Fuels Group in the UK.
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Portas’s retail vision relies on new fiscal models for success
13 January 2012
As we step forward into the somewhat unknown territory of 2012, it would be all too easy to continue to paint a bleak and desolate landscape, as companies and even nations are defaulting on a daily basis.
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Power struggle: levy puts Battersea plans at risk
13 January 2012
Large schemes could suffer if infrastructure funds are diverted to local neighbourhoods
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Pramerica helps Principal Hayley check out and check back in
13 January 2012
Pramerica Real Estate Investors is close to completing a sizeable hotel ground rent purchase, as the bank-led deleveraging of the hotel sector picks up pace.
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Private equity firms: retail scavengers or saviours?
13 January 2012
High street woes have turned the spotlight back on divisive owners. Rachel Hunter reports
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Property man's new furrow
13 January 2012
When the converted Dent railway station in Cumbria appeared on ITV1’s May the Best House Win, Robin Hughes always looked good for the title of regional winner.
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Property tax fraud crackdown: don't be caught unawares
13 January 2012
Last month Revenue and Customs announced the creation of a taskforce to tackle tax evasion on property transactions in Greater London.
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Property Week Digital Edition - 13 January 2012
13 January 2012
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Prupim begins SE spree with Reading and Woking buys
9 January 2012
Prupim has started spending the cash raised by its sale of the £400m Green Park business park with nearly £40m of acquisitions in Reading and Woking, PropertyWeek.com can reveal.
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Quinlan and Maud refinance Citi Tower
13 January 2012
Dockland property now looks likely to be retained by existing lenders and owners
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Red Book overhaul is long overdue
13 January 2012
Valuers have had a tough downturn, berated by banks and fund managers disillusioned with the advice they received and the shadow of litigation still looming large.
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Regional banks quit property lending
13 January 2012
Clydesdale and Yorkshire banks close doors to new lending and aim to sell £300m loan book
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Rental expectations plummet to lowest level since 2009
12 January 2012
Surveyors’ expectations for rental growth fell to the lowest level since 2009, a report by the Royal Institution of Chartered Surveyors has shown.
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Resi agency floats
13 January 2012
A residential lettings agency is to become the first business to list on AIM in 2012.
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Retail investments’ Europe surprise
13 January 2012
Retail investment volumes in Europe increased by a third in 2011, despite reports of a dent in consumer confidence across the continent.
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Retailers’ results are up and down
13 January 2012
Retailers continued to report mixed results this week, as both Blacks Leisure and La Senza were bought out of administration.
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RICS rewrites valuation ‘bible’
13 January 2012
The RICS Red Book of valuation standards is being rewritten this year in response to claims that surveyors are failing to make accurate valuations in times of market volatility.
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RICS to take red pen to Red Book
13 January 2012
Rewrite of industry bible due in 2013 aims to make valuation more reflective of market. Sarah Townsend reports
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River Cottage’s delivery service
13 January 2012
History is repeating itself at Royal William Yard, Plymouth.
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Savills extends German reach with BNP Paribas Real Estate team
11 January 2012
Savills has grown its German business by opening a new office in Cologne, which will be staffed by a five-strong team it has poached from BNP Paribas Real Estate.
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Savills retail team goes back to the floor
13 January 2012
Savills’ shopping centre management experts spend a day with tenants. David Hatcher reports
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Savills: European Warehousing Markets - Autumn 2011
9 December 2011
Demand for warehousing space has overall improved in 2010 and the first three quarters of 2011. Take-up is rising in markets with comparatively more stable economic conditions, like Germany, Poland and Sweden. Leasing market trends are also positive in The Netherlands and theUK.
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Savills: Office Market Report - Winter 2011/2012
12 January 2012
The UK office market during 2011 has been predominantly characterised by lower occupational demand. Many occupiers have looked to either regear existing leases at break options or taking short extensions at expiries in attempt to avoid relocating and therefore any capital expenditure.
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Stena Realty sails into former shipping offices
13 January 2012
Stena Realty, the property investment arm of Swedish shipping line Stena, has made its second UK property purchase.
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SuperGroup defies retail slump with sales increase
11 January 2012
Clothing retailer SuperGroup today reported increased like-for-like sales over the Christmas period, bucking the downward retail trend.
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SuperGroup says south-west is best
13 January 2012
SuperGroup has shortlisted three sites in its home territory of Gloucestershire for a new national distribution hub.
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Ted Baker announces increase in retail sales
13 January 2012
Ted Baker has announced an increase in retail sales over the Christmas period.
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Tesco reveals "disappointing" Christmas trading
12 January 2012
Tesco this morning revealed a “disappointing” UK trading performance over the Christmas and New Year period.
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Thaker to leave German lender Pbb Deutsche Pfandbriefbank
9 January 2012
Leading real estate banker Harin Thaker is leaving Pbb Deutsche Pfandbriefbank at the end of January.
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Toilet humour fails to amuse
13 January 2012
Last week’s back page featured a high-art stencil on an east London building, painted by mysterious cultural commentator Banksy.
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Twenty-four per cent wiped off Terrace Hill NAV
6 January 2012
Terrace Hill Group has suffered a net asset value drop of 24% in the year to 30 September 2011.
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Unite fund NAV boosted by rental growth
10 January 2012
Student accommodation developer Unite this morning posted Net Asset Value (NAV) growth in its UK Student Accommodation Fund (UKSAF) of 1.8% for the final quarter of 2011.
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US private equity’s $3.5bn war chest
13 January 2012
Two US private equity houses have amassed $3.5bn to spend on property.
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Wales is open for business
13 January 2012
Sir, Your article on south Wales led with a “closed for business” attack on the Welsh government and planning authorities
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Wapper of a name change
13 January 2012
News International’s east London headquarters will be marketed to developers early in 2012 for up to £200m.
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WELPUT buys Warner Bros' HQ
9 January 2012
Schroders’ West End of London Property Unit Trust has bought the headquarters of Warner Brothers on Theobalds Road in London’s Holborn at a 5.94% yield.
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WELPUT secures £85m MetLife facility
10 January 2012
The West End of London Property Unit Trust, managed by Schroders and advised by Grafton, has signed an £85m credit facility with MetLife.
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Westminster moots oligarch tax
13 January 2012
Westminster City Council plans to clamp down on the number of large luxury flats developed for the “global market”.
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Westminster: a fair solution
13 January 2012
Sir, Several of my West End retailer clients and I are confused by the arguments raging between the various lobby groups on the proposals to introduce evening parking charges in Westminster.
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Wheels could come off LandSecs’ Exeter bus station plans
13 January 2012
John Lewis puts department store scheme in state of flux. Christine Eade reports
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Work begins on Sixty London
13 January 2012
Axa Real Estate Investment Managers began the development of a 235,000 sq ft scheme in London’s Midtown this week.
