All Property Week articles in 26 December 2008
View all stories from this issue.
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OnlineCo-op opts for Miller Street
The Co-operative Group is to build its new 400,000 sq ft headquarters on land close to its existing base in Manchester city centre.
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South African increases Minerva stake to 29%
Nathan Kirsh, a little-known 76-year-old South African businessman, has increased his stake in listed London developer Minerva to 29%.
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Pharmaceutical group seeks new base in Thames Valley
Pharmaceutical and clinical research giant Quintiles has appointed Cushman & Wakefield to look for a new office base of around 150,000 sq ft in the M4 corridor.
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St Mirren given new stadium as Tesco plans housing scheme
St Mirren football club has been handed the keys as a part of a deal that sees Tesco take over its former ground.
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US lawmakers push new mortgage bankrupcy bill
Legislation designed to stem foreclosures by allowing bankruptcy judges to erase some mortgage debt will be introduced by Congressional Democrats on Tuesday, and hopes are high that it will pass after a similar plan failed last year.
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Economists look for signs of life in US housing
Top economists at the Allied Social Sciences Association's annual meeting have been searching -- in some cases, in vain -- for signs of life in the U.S. housing market, a key element for busting the country out of a deep economic downturn.
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Watpac rolls over $216m of debt
Property group Watpac has rolled over $216m of debt with its financiers, including the ANZ Bank.
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Leighton shares sink on asset write down
Shares in Australia's biggest construction company Leighton Holdings Ltd plunged almost 10% after it cut its profit forecast amid asset write downs of $200m.
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Babcock & Brown submits debt proposal
Babcock and Brown has submitted a proposal to its lenders on repaying a short-term debt facility, the asset manager said today, adding it expected a response next week, slightly later than flagged.
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House prices slump 16% year-on-year
House prices fell by 15.9% in 2008, Nationwide said today - the biggest annual drop since the society began publishing its index in 1991.
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Property fund raises £350m of equity
Legal & General Property and Australia’s Goodman Group have completed a £350m equity raising for property fund Arlington Business Park Partnership.
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Construction industry suffers further contraction
The construction industry suffered another month of severe contraction in December as commercial building activity fell sharply, according to a survey of the sector published yesterday.
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M&S set to lay off up to 1,000 staff
Marks & Spencer, the high street retailer, will announce just under 1,000 job cuts from its stores and head office following its poorest Christmas trading period in years.
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Bank likely to set record low interest rates
The Bank of England is expected to breach the 315-year-old nadir for interest rates by cutting its key rate by half a percentage point to 1.5% on Thursday.
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Bargain hunters boost retailers
Shoppers left it late to splurge, but there were tentative signs yesterday that the Christmas period did not turn into the bloodbath many retailers had feared.
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Carillion in schools deal
The building company has sealed a £13m deal with Nottingham City Council for one of the first primary schools to be built under the Government’s £7bn Primary Capital Programme. The new Southwark Primary School will be built on the infant and nursery school site in Bulwell Lane, Old Basford.
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MWB shares rise after upbeat trading statement
MWB Group’s shares rose 10% this morning following a better-than-expected trading update for its three businesses.
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L&G and Goodman complete £350m ABPP equity raising
Legal & General Property and Goodman have completed a £350m equity raising to strengthen the long-term position of the Arlington Business Park Partnership fund.
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Turnstone gets go-ahead for Ipswich scheme
Turnstone Estates and Revcap have been granted planning consent for a £50m mixed use scheme in Ipswich.
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SA house price deflation worsens to 1.7%
Year-on-year house price deflation worsened in December to -1.7%, while price inflation for 2008 as a whole averaged +5.2% due to better conditions early on last year, the latest FNB House Price Index shows.
