21 July 2006
Property Week
View all stories from this issue.
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...as pioneer Palmer markets second fund
21 July 2006
Palmer Capital Partners, the property venture capital provider and fund manager that set up the first development fund two years ago, this week began marketing for its second development fund.
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20-30-40-50
19 July 2006
Each week we meet a property figure from a different age bracket. This week Claer Barrett meets Steve Lewis, 52, chief executive of specialist retail and leisure developer Oak Holdings
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A whole new bowl game
21 July 2006
The success of All Star Lanes in Bloomsbury is driving the boutique bowling outfit to open two new London sites.
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AAIM shops again in Poland
21 July 2006
AAIM Europe has bought its second Polish shopping centre as part of its €1bn (£690m) European acquisition drive.
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Architect BDP
21 July 2006
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Arlington unveils eurozone fund
21 July 2006
Arlington Securities has kicked off its fund of funds product for institutional investors with a €900m (£615m) eurozone fund.
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Atisreal promotes Bayley
21 July 2006
Dan Bayley has been promoted to national head of agency for Atisreal.
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Auctions
21 July 2006
Auctioneers are turning to technology to improve service to clients
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Barnett Ross bucks gloom with 92% sale
21 July 2006
Barnett Ross bucked the trend of lacklustre summer auctions at its sale last Thursday, where 92% of the catalogue was sold, raising a total of £26.5m.
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Blood on the dancefloor
21 July 2006
Laws allowing late-night drinking in pubs and bars are hitting nightclubs.
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Bourne Lodge
21 July 2006
Paul Bewers’ Bourne Lodge has sold the McNicholas office and warehouse portfolio to three private investors for £9.75m, reflecting a net initial yield of 5.86%. All three assets are let to contractor McNicholas on 15-year leases running from 2004.
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Capital & Counties and GE Real Estate win race to buy Covent Garden
27 July 2006
Covent Garden Limited Partnership confirms buyers
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Case news
21 July 2006
Warren Gordon reports on a dispute between employer and contractor over flood damage, while Jonathan Ross looks at how Abbey National had to pay VAT on ‘virtually assigned’ properties
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Citygrove moves away from niche developer status
21 July 2006
Company appoints RREEF and Treasury Holdings duo as it looks beyond retail sector
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Clarification
21 July 2006
The Amesbury Property Company would like to clarify that it is the sole owner and funder of the Solstice Business Park in Amesbury, south Wiltshire, as featured in the ‘Salisbury pain’ article (Hampshire, Dorset + south Wiltshire, 07.07.06).
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Contaminated land
21 July 2006
Question: My company has bought a brownfield site for development, our first for several years. What recent policy changes will affect our approach to remediating the site and readying it for development?
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CPO objectors feel they can’t beat the system
21 July 2006
Olympics saga shows you just can’t win
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Danish investors save Savills’ bacon
21 July 2006
Post-sale supermarket purchase mitigates 57% ‘in the room’ sales rate
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David Wilson on track for Newbury Racecourse housing project
21 July 2006
David Wilson Homes has been named ‘preferred developer’ for a residential project on 50 acres (20.23 ha) on the Newbury Racecourse estate, Berkshire.
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Diary of... a valuer
21 July 2006
David Law, valuation partner at King Sturge, takes us through his week
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Dome leads race for supercasino
25 July 2006
The Millennium Dome is the frontrunner to house the UK’s only ‘supercasino’ following the first round of the competition.
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Don’t be too leisurely over Battersea, Ken
21 July 2006
As Britain basks, the leisure sector courses through Property Week today.
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End of an era as Ritblat announces retirement
21 July 2006
British Land chairman to bring the curtain down on half-century career on 31 December
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Experts vs arbitrators
21 July 2006
Question: I am a landlord and on a current rent review I have the option to define whether a third party on review should act as an expert, or as an arbitrator. What do I do?
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Fordgate
21 July 2006
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German investors return to open-ended funds
21 July 2006
The German open-ended property fund sector enjoyed its first cash inflow for almost a year last month as investors began to turn back towards pooled property investment.
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Glass squealing
21 July 2006
People in glass houses, so the saying goes, shouldn’t throw stones.
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Gleeds
21 July 2006
Gleeds, the construction consultancy, has won a contract to cost manage the construction of Media City UK, the BBC’s 20 acre (8.1 ha) complex in Salford. The future home of Radio Five Live is being built by Peel Holdings and Salford Urban Regeneration Company.
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Going places
21 July 2006
This week's movers...
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Great Portland records 4.1% quarterly growth
21 July 2006
Great Portland Estates’ central London portfolio rose by 4.1% in value to £1.13bn in the three months to 30 June.
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Great Portland trains eye on Crossrail site
21 July 2006
£60m Hanover Square deal is latest in hot West End investment market
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Hammerson sells London’s 83-85 Pall Mall
18 July 2006
Hammerson has achieved a net initial yield of 4.5% on the sale of an office building in London’s St James’s, SW1
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Hanover square
21 July 2006
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Having a ball
21 July 2006
Sport was a running theme at the 2006 Retail and Leisure Property Awards on 5 July
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HDG makes first foray into German market
21 July 2006
Property asset manager spends ¤285m in Germany and Netherlands
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HIPs diluted by scrapping reports
21 July 2006
The government has been forced to water down the introduction of home information packs next year by shelving the requirement for home condition reports.
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Home-making
21 July 2006
Is ‘flat-pack’ construction a green approach to housebuilding? Christine Eade reports from Germany
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Housebuilders receive £100m subsidy for affordable homes
21 July 2006
Wimpey and Bellway are latest developers to secure grants from Housing Corporation
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JLL beats Nelson Bakewell to SWIP
21 July 2006
Nelson Bakewell has lost the property management contract for Scottish Widows Investment Partnership to rival Jones Lang LaSalle.
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Ken’s power struggle is a win for London
21 July 2006
The politics of property, with Steven Norris
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Land Securities
21 July 2006
Land Securities this week revealed revised plans for its ‘walkie-talkie’ tower at 20 Fenchurch Street in the City of London. It has reduced the 45 storeys to 36. It also revealed images of a ‘Sky Garden’ at the top of the tower.
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Landlords to draw up sustainability blueprint
21 July 2006
Task force to be chaired by Prupim’s Moore to examine 10 test case buildings
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LandSecs submits Ebbsfleet plans
21 July 2006
Land Securities has submitted a planning application to Dartford Council for Station Quarter South, the second phase of its mixed-use development at Ebbsfleet in Kent Thameside.
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LandSecs submits second-phase Ebbsfleet plans
17 July 2006
Land Securities has submitted a planning application to Dartford Borough Council for Station Quarter South, the second phase of its development at Ebbsfleet in Kent Thameside
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Leisure
21 July 2006
Rank agrees 172m sale and leaseback Urban Golf drives London expansion forward Blood on the dancefloor A whole new bowl game Well drink to that Watch this space
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Life of leisure
21 July 2006
Richard Balfour-Lynn has run leisure parks, Malmaison and Hotel du Vin. Now he has splashed out £750m for De Vere Hotels.
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London mayor given strategic planning powers
21 July 2006
London mayor Ken Livingstone was last week given sweeping planning powers.
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Malls appeal against business rates hike
21 July 2006
Retailers and landlords campaign against rises of up to 177%
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Manhattan view, Steve Cuozzo: New York can now lay post 9/11 myths to rest
21 July 2006
Not since the dot.com boom has Manhattan seen its commercial leasing engine fire at present levels, says New York Post executive editor Steve Cuozzo
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McCarthy poised for £1bn takeover
21 July 2006
Permira and Barclays Capital vie with Reubens for care home developer
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Mi7 receives go-ahead for Bradford mission
21 July 2006
Manchester-based developer Mi7 Developments has been given the go-ahead for a £90m mixed-use development in Bradford city centre.
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MWB sells Docklands hotel to private investor
24 July 2006
Marylebone Warwick Balfour has sold its West India Quay hotel in London’s Docklands for £110m to developer and private investor Yianis Christodoulou.
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Mystery over future of Battersea chief Roberts
21 July 2006
Power station developer unable to say when Parkview boss will return
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National Grid discharges six properties
20 July 2006
National Grid UK Pension Scheme has sold six UK properties for more than £70m to take advantage of the strong investment market
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National Grid sells six
21 July 2006
National Grid UK Pension Scheme has sold six UK properties for more than £70m to take advantage of the strong investment market.
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Natural selection
21 July 2006
Objectors often use the Environmental Impact Assessment regulations to challenge developments. Two recent judgments from the European Court of Justice could add to their ammunition.
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Nine more raids
21 July 2006
60 officers descend as valuation probe widens
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Oak shares surge as government says Yes! to Yorks scheme
21 July 2006
Shares in tiny AIM-listed developer Oak Holdings have soared 23% since it revealed last Friday that the government was not going to call in its planned £270m Yes! Leisure project in Rotherham.
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On the same wavelength?
21 July 2006
Experts are questioning whether economist Kate Barker and Gordon Brown agree on planning reform.
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Queasy riders rise to the bait
21 July 2006
For all their much reported drinking prowess, all it takes to fell shed agents is a heavy night’s drinking, a boat off the coast of Cornwall and buckets of shark bait.
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Rank agrees £172m sale and leaseback
21 July 2006
Pears and Khalastchi splash out for bingo halls
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Raven and Avalon launch warehouse development JV
19 July 2006
AIM-listed Raven Russia has joined forces with Russian logistics operator Avalon Group to develop $775m (£425m) of warehouses in Russia and the Commonwealth of Independent States
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Reality of RESI
21 July 2006
Sir, In reference to Anthony Lorenz’s suggestions to stop gazumping (letters, 07.07.06), I would hazard a guess that he does not deal with residential property sales on a daily basis or he would know that his proposals are impracticable.
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Recovering rent arrears
21 July 2006
Question: My tenant is, so far, up to date with his rent, but I suspect it may get into difficulties in the future. A rent review is in progress. There is a former tenant who owes me rent. What can I do to protect my position?
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Redrow
21 July 2006
Redrow Regeneration has sold the first phase of its Barking Central scheme to City & Docklands Property Group for £40m. It comprises 246 flats, a lifelong learning centre, a library and a landscaped public area, as part of the London mayor’s ‘100 public spaces’ initiative.
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Regus wraps up managed office buy
21 July 2006
Serviced office space provider pursues global diversification strategy
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Residential Land’s latest central London push
21 July 2006
Residential Land, the property vehicle of investor Bruce Ritchie, has acquired a portfolio of 14 freehold houses in Balvaird Place and Lindsay Square, London SW1.
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Richard Balfour-Lynn
21 July 2006
Entrepreneur Richard Balfour-Lynn enjoys the scorching weather with a glass of his own sparkling rosé at his Kent vineyard last week. Today, we speak to him about his Alternative Hotels Group’s £750m acquisition of De Vere Hotels and the future of his quoted vehicle MWB.
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Salmon fun
21 July 2006
Tom King’s annual salmon fishing trip to Scotland also had its fair share of alcohol-fuelled fun.
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Shortlist announced for Swindon Exchange
24 July 2006
A five-strong shortlist has been picked for the development of the £300m Exchange scheme in Swindon.
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Sophies world
21 July 2006
Life’s hard when you’re a top model. Poor Sophie Anderton has been rejected by the men on ITV’s Love Island and forced to sleep alone.
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Standard Life to launch £400m development fund...
21 July 2006
First institutional development fund aims for November launch
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SWIP awards £7bn portfolio mandate to JLL
17 July 2006
Jones Lang LaSalle has beaten Nelson Bakewell to win a contract to manage close to £7bn of UK property
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Tchenguiz plants funds in rainforest venture
20 July 2006
Vincent Tchenguiz has teamed up with socialite Robin Birley, who runs London nightclub Annabel’s, to invest in African rainforests as a means of trading for carbon emissions
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Tchenguiz plants funds in rainforest venture
21 July 2006
Vincent Tchenguiz has teamed up with socialite Robin Birley, who runs London nightclub Annabel’s, to invest in African rainforests as a means of trading for carbon emissions.
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Tescos Sunderland goal
21 July 2006
Tesco has joined forces with Persimmon Homes and Abstract Securities to develop a mixed-use scheme at the former Vaux Brewery site in Sunderland.
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The reign of Spain
21 July 2006
The notoriously trophy-shy Spanish football team have finally triumphed in the World Cup.
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The University of Leeds
21 July 2006
The University of Leeds is to sell the 36,868 sq ft (3,425 sq m) Priory of St Wilfrid on Springfield Mount, Leeds, with a price tag of more than £2m. The grade II-listed teaching college was designed by Temple Lushington Moore. Allsop is advising on the sale, which is part of the university’s ongoing estate management programme.
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Tiger gets teeth into prime Edinburgh site
24 July 2006
Tiger Developments has been selected as preferred purchaser for the Haymarket site in Edinburgh city centre.
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Too much of a good thing
21 July 2006
The government’s plans to develop large numbers of homes may fall foul of market trends
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Topland to offload £240m hotel portfolio
21 July 2006
Zakay’s company markets central London sites to fund Euro expansion
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Transport quango behind out-of-town parking charges
19 July 2006
Out-of-town retail parks could be forced to charge for parking under new recommendations announced today
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Trouble on site
21 July 2006
Partners in chime
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UK industry should follow Singapore’s REIT example
21 July 2006
Singapore’s property company-sponsored REITs hold valuable lessons, says William Hill
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UK yields at 33-year low, says CBRE
21 July 2006
The average prime yield for UK commercial property has dropped to its lowest level in 33 years, according to the latest CB Richard Ellis Prime Yield Index.
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Urban Golf drives London expansion forward
21 July 2006
Urban Golf, the indoor golfing concept, will open its second London club next month.
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U-turn on HIP home condition report
18 July 2006
Minister for housing and planning Yvette Cooper today announced that the controversial home condition report would not be a compulsory component of home information packs as originally planned
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Watch this space
21 July 2006
Cinema operators are overhauling wasted foyer space in an attempt to seduce audiences with better food and leisure facilities. Anna Goldie reports
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Well drink to that
21 July 2006
Confidence in the pubs market is high as more property investors enter the sector.
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You’re wrong minister, the RICS is a regulatory body
21 July 2006
To trade minister Ian McCartney Sir, I was both surprised and disappointed to see a quote attributed to you in Property Week (‘A victory for common sense’, residential + regeneration, 14.07.06).
