All Property Week articles in 16 March 2007
View all stories from this issue.
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News
GE Real Estate in £103.7m Kwik-Fit sale and leaseback
GE Real Estate UK and Paradigm Real Estate Managers have bought 148 Kwik-Fit for £103, reflecting an initial yield of 5.3%. The centres are leased back on 25-year leases with fixed uplifts every five and 10 years. Further sales of 149 Kwik-Fit centres in France and 14 in the Netherlands ...
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News
Budget 2007: crackdown on empty property business rate relief
The chancellor is to cut the generous business rate relief for empty commercial property. Industrial property owners now receive 100% business rate relief on unoccupied buildings. Owners of other commercial property, retail and offices, receive 100% relief for the first three months and 50% thereafter. From April 2008 industrial ...
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News
Budget 2007: more family silver to be sold
The chancellor increased his target for sales of government-owned assets from £30bn to £48bn. This includes buildings, land and government-owned companies, such as Qinetiq which fetched £350m last year. The Ministry of Defence has disposed of £231m of property and Chelsea Barracks is up for sale at more than £500m. ...
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News
Lyons to tax hotel beds
The Lyons inquiry into local government funding looks set to ignore lobbying from the leisure industry by recommending councils charge a tax on hotel beds as a way to raise additional income. The Times
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News
Punch to stub out 1,000 pubs
Punch Taverns, Britain’s largest pub company, is to put up to 1,000 of its 9,300 pubs up for sale ahead of the smoking ban that comes into effect this July. The sale package is likely to comprise smaller drink-led pubs, as well as some that are unviable or are not ...
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News
Tchenguiz-backed start-up targets 10,000 sites
Macropolitan, a company that manages and leases rooftop space to telecoms operators for their equipment, expects to have built a portfolio of 10,000 sites by the autumn as it prepares for a surge in wireless broadband network launches in 2008. Macropolitan is backed by Vincent Tchenguiz and already operates 7,600 ...
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OnlineREO to repair Battersea
Real Estate Opportunities assured English Heritage that it will repair Battersea Power Station at a meeting held last week.
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Online
John Lewis signs up for Crawley scheme
John Lewis has signed up to anchor a retail scheme in Crawley.
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Online
Permira's Principal Hotels buys more rooms in Cardiff
Permira-owned Principal Hotels has bought St David’s hotel and spa in Cardiff for £32.5m from Rocco Forte Hotels
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Online
LandSecs appoints new head of retail
Nick Peel has been promoted to head of retail operations for Land Securities.
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Online
Carlyle makes £155m swoop for Freeport.
The private equity group backed by Bank of America today has made a shock £155m swoop to buy Freeport, it emerged this morning.
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Online
Israeli company plans £700m AIM flotation
Israel's Delek Real Estate said on Sunday its Delek Global Real Estate (DGRE) unit was planning to float on London’s AIM.
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Online
GIC invests in French provincial fund
GIC Real Estate, the acquisitive real estate investment arm of the Government of Singapore Investment Corporation, has invested E75m (£51m) in a provincial France property fund.
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News
Hilton Group to make up budget beds
Luxury hotel group Hiltonis to launch three lower-budget hotel brands and double the size of its property portfolio from 75 to 150 hotels within 10 years. In a bid to recapture the Hilton ’s five-star reputation, some existing hotels will be converted into one of the three new brands, Double-Tree, ...
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Online
Blackstone mulls IPO
Private equity firm Blackstone Group is in advanced preparations for a flotation.
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Online
Bid talk boosts Hammerson shares
Hammerson ‘s shares soared today in a weak stock market, prompting talk of a takeover bid.
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Online
Big Yellow wins REIT battle
Self-storage company Big Yellow will become a REIT after winning its battle with HM Revenue & Customs about the classification of its income
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OnlineOrchid blooms in Bulgaria
Bulgarian developer Orchid Developments has sold Porsche’s country headquarters building for E13m (£8.9m)
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Online
KPMG forms Alternative Investment Group
KPMG has brought together its hedge fund, real estate and infrastructure businesses into an Alternative Investment Group.
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Online
REO settles dispute with Aberdeen
Real Estate Opportunities Limited, the property company controlled by Treasury Holdings, has today reached a settlement with Aberdeen Asset Management in relation to all claims against Aberdeen arising from the launch of REO and the subsequent management by Aberdeen of REO’s income portfolio.
