14 May 2004
Property Week
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$850,000 package for JLL's Peacock
14 May 2004
Company to cover car, phone, accountancy and insurance until April 2005
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¤350m Finnish portfolio capture
14 May 2004
Doughty Hanson Real Estate Fund is set to buy a ¤350m (£233m) portfolio of eight retail properties in Finland from Ilmarinen, a Finnish mutual pension insurance company. The 1.4m sq ft (130,000 sq m) portfolio includes shopping centres in Helsinki.
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5 threats to leases
14 May 2004
Good news for occupiers as document reveals plans to ban upward-only rent reviews
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Airdrie’s £16.6m retail sale
14 May 2004
A syndicate of private investors has sold the Airdrie Retail Park for £16.6m. The 100,000 sq ft (9,290 sq m) shopping centre was bought by Morley Pooled Pensions.
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Ashwell flies into Ipswich
14 May 2004
Ashwell Property Group has bought a grade II-listed former airfield terminal building at Ravenswood in Ipswich and is to turn the 7.2 acre (2.9 ha) site into a £23m mixed-use centre. Cambridge-based Ashwell completed the acquisition from Ipswich Borough Council after securing full planning permission for the scheme, which features 62 two-bedroom homes, 12 shops totalling 30,864 sq ft (2,867 sq m), a restaurant, community centre and public square. Part of the 49,547 sq ft (4,603 sq m) residential
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Australian Challenger to sell UK investment portfolio
14 May 2004
Packer-controlled investor to sell off £300m of offices in London and the south-east
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Berkeley plans 3,000 extra Arsenal homes
14 May 2004
Redevelopment of famous Woolwich site will be extended to link scheme to town centre
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Breaking new ground
14 May 2004
Urban development corporations – a throwback to 1980s Conservatism – have been resurrected to regenerate the wastelands of Thurrock and the Thames Gateway.
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British Land chief exec candidate pulls out
14 May 2004
British Land resumed the search for a chief executive this morning, after its preferred candidate unexpectedly rejected the post yesterday afternoon.
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Brixton shares jump after Petchey ups stake to 5.9%
14 May 2004
Jack Petchey, the hugely successful property share investor, has been stakebuilding in Brixton.
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Cap & Reg buys Preston mall
17 May 2004
Capital & Regional, the co-investing property asset manager, today announced it had bought the St George’s Centre in Preston, Lancashire, for £102.5m
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Carlyle forms Danish alliance
14 May 2004
US private equity group Carlyle has teamed up with Danish developer Nordkranen to buy 430,560 sq ft (40,000 sq m) of land from the Port of Copenhagen for the development of 400 flats. Carlyle and Nordkranen will invest a total of ¤130m (£87m) in the project, at Islands Brygge South.
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Casinos aim to score at Man City resort
14 May 2004
US and South African operators bid to build £250m complex near stadium
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Casinos have to bet on planning system
14 May 2004
Gaming deregulation may be derailed by planning uncertainties
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CB Richard Ellis ready for $1.5bn US listing
14 May 2004
Property services titan applies for flotation three years after going private
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Consultant looks at Mersey green belt
14 May 2004
Planning consultant White Young Green has been appointed by the North West Regional Assembly to investigate whether changes need to be made to Merseyside’s green belt to accommodate development up to and after 2001.
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Crosher & James name change
14 May 2004
Property tax adviser NBW Crosher & James has changed its name to Davis Langdon Crosher & James and not Davis Langdon Everest & James as stated in ‘In Brief’ 30 April.
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Crown Estate listing defiance
14 May 2004
The Crown Estate has pledged to push ahead with its proposals to redevelop the southern end of Regent Street in central London despite the government's decision to list one of the key buildings on the site.
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Dalgleish to manage McArthurGlen outlets
14 May 2004
McArthurGlen, the factory outlet manager, has appointed Dalgleish to boost lettings at its properties.
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DIFA captures £50m Manchester Airport hotel
13 May 2004
Hamburg-based property fund manager DIFA today announced it had bought the Radisson SAS hotel at Manchester Airport for just under £50m.
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Discovery in Chiswick Park
14 May 2004
The Discovery Channel has confirmed plans to relocate its European headquarters to Chiswick Park.
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Dixon West names new partners
14 May 2004
North-west property consultant Dixon West has promoted valuation and corporate recovery expert Patrick Whitby and land restoration and estate management specialist Andrew Williamson to partners.
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Don’t take out retailers’ woes on the property industry
14 May 2004
entrepreneurial spirit, with Nick Leslau
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Donaldsons wins management of bank portfolios
14 May 2004
Donaldsons has been appointed by National Australia Group to provide property management services across its entire UK operational portfolio.
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DTZ chooses Spanish chief exec
14 May 2004
Pedro Ladron de Guevara, a former chief executive officer for global markets at Australian developer Lend Lease, has been appointed managing director of DTZ Spain, which has 65 staff in Madrid and Barcelona.
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Durham shed investment
14 May 2004
CNC Properties, part of Property Acquisition & Management, has bought a 472,000 sq ft (43,833 sq m) industrial estate in Spennymoor, County Durham, for £7m with property investor Nelson Securities. Mason Philips and Collins Stewart Property Fund Management acted for the buyers.
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EP’s atomic buy
14 May 2004
English Partnerships has bought the Winfrith Technology Centre in Dorset from the United Kingdom Atomic Energy Authority for £7.54m. The centre is on a 125 acre (50.6 ha) site. The acquisition is part of EP’s strategy to increase public sector land use and to support the government’s growth agenda for the south-west.
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Essex & London NE
14 May 2004
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Ex-Aberdeen chief Reid founds European investor
14 May 2004
Reid sets up Protego, backed by Norwegian billionaire, with former API colleagues Weeks and Llewelyn
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Ex-Aberdeen chief Reid founds European investor
14 May 2004
Reid sets up Protego, backed by Norwegian billionaire, with former API colleagues Weeks and Llewelyn
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Hammerson JV for £300m Kingston plan
14 May 2004
Developer and CIN to join forces for mixed-use scheme in Kingston
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Herts, Beds & Bucks
14 May 2004
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High but not mighty
14 May 2004
Hemel Hempstead has some of the highest industrial rents in the M1 corridor, but tenants are being turned off.
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Hotbed buys £9.4m Leeds office investment
14 May 2004
Private investors have shown renewed confidence in offices.
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Industrial market overview …
14 May 2004
Essex and east London's industrial markets showed growth in returns, capital and rents in 2003, says a report published today by Kemsley Whiteley & Ferris. The east London agency's research shows that Essex outperformed the UK average on all but one variable: rental value growth. Dagenham, Barking and Havering have seen the biggest rise in availability since 2002 because of their location in the Thames Gateway, where huge parcels of land have been zoned for industrial use.
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ING scoops pensions fund award
14 May 2004
ING Real Estate Investment Management (UK) has been named Professional Pensions Property Manager of the Year for the fourth time in five years. Among ING’s achievements were double-digit asset growth in the year to September 2003 and successful fundraising for its flagship Lionbrook Property Partnership fund, resulting in growth of £100m.
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Inner City: James Whitmore
14 May 2004
Christmas 2003 proved to be a watershed for Slough.
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Inside parliament
14 May 2004
Responding to Egan
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John Lewis shed deal
14 May 2004
Department store John Lewis has taken a 161,770 sq ft (15,030 sq m) shed at ProLogis’s Grange Park in Northampton. North Rae Sanders and Burbage Realty are letting Grange Park; Douglas Duff acted for John Lewis.
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Joint venture
14 May 2004
Land Securities and Capital & Regional have taken a co-operative approach to infrastructure and branding at Lakeside retail park. Now they may need to work together to combat the threat of terrorism.
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Kempner in the pink on Benchmark sale
14 May 2004
Chief exec sets up firm to provide asset management after GE takeover
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LandSecs fires regulation warning at government
18 May 2004
Land Securities today warned the government that excessive regulation of the property industry could destroy its promising future as an asset class to rival equities.
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LandSecs ties up £150m constitutional department lease
18 May 2004
Land Securities today announced it had signed an asset management contract and long-term lease worth £150m with the Department for Constitutional Affairs (DCA).
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Lawrence Graham in talks for South Bank HQ
19 May 2004
Lawrence Graham has confirmed it is in exclusive talks to take 150,000 sq ft (13,935 sq m) office space at the More London development on the South Bank.
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LDA appoints urban planning adviser
14 May 2004
Colin Buchanan and Partners has won a three-year contract to provide advice on urban planning and regeneration to the London Development Agency (LDA). The firm is part of a panel of planning advisors to the LDA.
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Location guide to … Chelmsford
14 May 2004
Where The county town is at the intersection of the A12 and the A130 trunk roads. Stansted airport is a 30-minute drive away and the railway station provides a 35-minute regular service to Liverpool Street station in London.
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Location guide to … Luton
14 May 2004
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Lowe takes assignment of rival's London HQ
17 May 2004
Advertising company Lowe & Partners has completed its deal to take an assignment of rival Leo Burnett’s headquarters at 60 Sloane Avenue, London SW3.
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LSH sets up Irish investment team
14 May 2004
Lambert Smith Hampton has set up a dedicated Irish-UK investment team to take advantage of the demand for UK properties from Irish investors. Colm McHugh, a senior investment surveyor with the company, who has worked in LSH London for almost four years, will take on the new role from mid-May. He will work between the London and Dublin LSH offices.
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Make use of a broad team
14 May 2004
Talks with planners, housing associations and agents can smooth the path of mixed-use projects
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Martin Barber
14 May 2004
Martin Barber, referred to as chairman of Capital & Regional in last week’s news focus is in fact chief executive.
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More developers to target housebuilders
14 May 2004
Mixed-use will become the most important property sector over the next five years as a new generation of developers emerge that are willing to take on the commercial and residential elements of a scheme, predicts Knight Frank.
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Morgan Stanley faces 11th hour Canary revolt
14 May 2004
Canary Wharf Group’s independent board of directors was confident this week that the Morgan Stanley consortium’s £1.7bn bid for the company will succeed, despite last-minute opposition from institutional shareholders.
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Mosley St revamp revealed
14 May 2004
Manchester City Council has revealed its vision for the 916,015 sq ft (85,100 sq m) redevelopment of the neglected Mosley Street in the city centre.
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MWB and Manhattan Loft bite the Big Apple
14 May 2004
Harry Handelsman’s Manhattan Loft Corporation and MWB Group have created Big Apple, an open-air art exhibition next to their £220m Canary Wharf scheme at 1 West India Quay, London’s tallest private residential building.
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Myers and Chande buy £60m portfolio
14 May 2004
Market movers re-enter development arena with purchase from Dutch fund
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New home for NAI
14 May 2004
NAI Fuller Peiser is moving its head office in London to Whittington House, Alfred Place, next month. The agent has signed for 10,575 sq ft (982 sq m) at the property. Conway Relf acted for landlord Credit Suisse Property Investment Management; NAI Fuller Peiser represented itself.
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New towns, old shops
14 May 2004
Stevenage may be a new town, but its 1950s shops are shabby and outdated. Stuart Watson reports on plans by Stanhope and ING to revamp the town centre, and looks at plans to revitalise the retail in Hatfield and Hemel Hempstead
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Nomura and St James buy £245m Earls Court centre
14 May 2004
Leisure operators and mixed-use developers queue up for west London halls totalling 1.3m sq ft
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Now you see them...
14 May 2004
Each enquiry for a big office requirement in Hertfordshire looks like being the real thing, only to vanish into thin air.
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Partner of the year 2004 Giraudeau joins Cushman
14 May 2004
Nick Giraudeau, head of Colliers International’s European corporate services arm, has left the firm to join Cushman & Wakefield Healey & Baker.
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Passing the crash tests
14 May 2004
While house prices and borrowing continue to soar, greater economic stability today means that fears of an early 1990s-style crash are largely unfounded, argues Dennis Turner
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Peter Smedvig: Protego’s Scandinavian protector
14 May 2004
Iain Reid has something in common with his new financial backer, Peter Smedvig: oil. Smedvig was born in Norway’s oil city, Stavanger, while Reid hails from Scotland’s oil capital, Aberdeen.
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PFM European fund raises ¤193m at first closing
14 May 2004
Property Fund Management has raised an initial ¤193m (£130m) of equity at the first closing this week of its ¤700m (£470m) European industrial property fund.
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Planning Bill accedes to statute books
14 May 2004
The Planning Bill is finally set to become law after the longest passage through parliament of any bill in history. The Commons and Lords reached agreement on the bill on Tuesday, 18 months after it was first published.
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Port awaits its call
14 May 2004
Plans for a new port in Thurrock are much more likely to be approved after Southampton's Dibden Bay proposal was rejected last month.
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Private investors choose commercial
14 May 2004
Commercial property returns are poised to rise as occupier and investor demand increases and the global economy continues to improve. The latest economic forecast from the RICS shows that the average rent across all commercial sectors is expected to rise by 0.9% in 2004 and 1.3% in 2005, compared with a 1.3% fall during 2003.
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Rapleys launches regeneration arm
14 May 2004
Rapleys is to launch an urban regeneration team to focus on the development of brownfield sites, on which the government has placed a strong emphasis. Alun Jones, development partner, will head the team.
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Red tape resistance
14 May 2004
A wave of red tape and regulation threatens to engulf up to 60,000 chartered surveyors. à From 14 January 2005, the Financial Services Authority (FSA) plans to supervise every surveyor, managing agent or adviser who has even a peripheral involvement in insurance, from collecting a premium to filling out a claim form. à Firms say these proposals could cost them up to £25,000 to implement and will bury them under reams of paperwork, audits, visitations and forms. The FSA Handbook of rules ...
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Reeves to head West End BID
14 May 2004
The New West End Company, which is to formally become a business improvement district (BID) next spring, has named Gary Reeves as its chief operating officer. He is currently director of marketing and operations. Helen Robinson will remain as chief executive in charge of the masterplan and brand. Reeves joined the company two years ago from Bluewater shopping centre.
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Resurgence of farmers drives land prices up 12%
14 May 2004
Farmers are back as the dominant force in the rural land market, helping to drive up prices by 12% during the first quarter of 2004 compared with the same period last year, reveals the latest survey by the RICS.
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RICS snub as Australian Property Institute votes 'no' to merger
14 May 2004
The Australian Property Institute (API) has abandoned a proposed merger with the RICS after API members dismissed the idea in a referendum.
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RICS unveils awards shortlist
14 May 2004
The RICS has announced the shortlist for its 2004 Property Management Awards. The awards will be presented on 7 July at the Park Lane Hilton
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Sainsbury’s and Morrisons agree £110m store deal
14 May 2004
Sainsbury’s today announced it had reached agreement with supermarket rival Morrisons to buy 14 stores for £110m.
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Selfridges’ £300m revamp dropped
14 May 2004
Selfridges has abandoned plans for the £300m redevelopment of its Oxford Street store in London. Galen Weston, owner of the Selfridges group that last year announced it would scale back plans for more regional stores, had appointed Stanhope to add 100,000 sq ft (9,290 sq m) of extra retail, 300,000 sq ft (27,870 sq m) of offices, a hotel and a swimming pool to the London store.
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Since our last visit …
14 May 2004
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Talk of the towns
14 May 2004
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Talk of the towns
14 May 2004
Kemsley Whiteley & Ferris secretary Valerie Forbes is up for an honourary position as social entertainer for the Industrial Agents' Society.
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The final whistle for Wimbledon?
14 May 2004
Problems on the pitch could mean the end of Wimbledon Football Club, which would also put Milton Keynes' stadium plans in jeopardy.
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Time is of the essence
14 May 2004
Changes to the Landlord and Tenant Act on 1 June will have a big impact on the deadlines that surround lease renewal.
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Two join Bates Wells & Braithwaite
14 May 2004
London law firm Bates Wells & Braithwaite has appointed Martin Gunson from Reid Minty as a partner and promoted Lesley Robinson from solicitor to property litigation partner.
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Vodafone hangs up Newbury offices
14 May 2004
Vodafone has disposed of three offices in Newbury as part of its relocation to a new HQ north of the town in 2002. It has assigned leases on Newbury House and Fairfax House to law firm Penningtons and sold Britannic House to an accountancy firm as part of a disposal of 35 offices in Newbury. Strutt & Parker advised Vodafone.
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Wilson Bowden is Scottish Developer of the Year
14 May 2004
Wilson Bowden was named Scottish Developer of the Year at the 2004 Scottish Property Awards, held last night at The Glasgow Hilton.
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Yields fall by biggest margin for two years
14 May 2004
Latest ARAS results indicate private investor buying power is increasing
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Your profession needs you
14 May 2004
A well-respected professional, who is trusted with the management of hundreds of millions of pounds worth of property by Britain's biggest landlords, didn't know who frightened him most.
