26 May 2006

Property Week

View all stories from this issue.

  • £156 billion

    26 May 2006

    De Montfort University study shows commercial property debt soaring by 16% in 2005

  • 20-30-40-50

    24 May 2006

    Each week Ettie Neil-Gallacher meets a property figure from a different age bracket. Michael Raibin, 24, is a director at Richard Susskind & Co

  • A logistical move

    26 May 2006

    Industrial specialist Parkridge is attacking western Europe from its Paris office.

  • Africa Israel agrees Polish JV with Quinlan

    26 May 2006

    AFI Europe to partner Quinlan Private Golub to invest in Poland

  • ANZ forsakes City for Dockland

    26 May 2006

    Australian bank ANZ is to move its headquarters to Canary Wharf after abandoning plans to stay in the City of London.

  • Arlington buys French parks for €55.7m

    26 May 2006

    Business park specialist kicks off Pan-Euro logistics fund with double buy

  • Ballymore

    26 May 2006

    Irish property company Ballymore submitted a planning application this week for a £500m marina scheme in east London's Silvertown. The 35 acre (14.1 ha) Minoco Wharf on Silvertown Way, E16, will have 250,000 sq ft (23,225 sq m) of offices, retail and leisure on the ground floor and up to 4,000 homes. Ballymore bought the site, close to London City airport, in 2004 for £40m.

  • Bank entangled in Dunlop Haywards affair

    26 May 2006

    Bank of Ireland has emerged as the latest lender to be embroiled in the Dunlop Haywards valuation scandal.

  • Banks must be cautious as party winds down

    26 May 2006

    Bank lending to commercial property continues to soar and last year rose by 16% to £156bn, according to new research from De Montfort University (analysis + opinion, p30).

  • Bare-faced chic

    26 May 2006

    Hammerson's £85m Vendôme Saint-Honoré retail scheme epitomises Parisian elegance.

  • Blackstone's European student venture

    26 May 2006

    US group follows Center Parcs buy with City launch of student digs plan

  • BNP's Barking Stance

    26 May 2006

    The BNP's victory in Barking has led to calls for greater provision of affordable housing. Mark Jansen reports on the far right's influence on housing policy

  • British Land debuts in Spain with ‘Zaragoza Bluewater'

    26 May 2006

    First continental development will be 2m sq ft retail and leisure centre

  • British Land to enjoy £1bn saving with REIT conversion

    26 May 2006

    Company will be biggest beneficiary of tax-transparent vehicle among listed property companies

  • Brixton's two-storey shed plan rejected

    26 May 2006

    New Heathrow application to be submitted after objections to height

  • Brum tactics

    26 May 2006

    NAI Fuller Peiser's annual inter-office football match has become as competitive as the World Cup.

  • Cap developers' regeneration profits, says think tank

    26 May 2006

    Labour Finance and Industry Group calls for excess profits to be given to public sector sponsors

  • Cardiff's no show

    26 May 2006

    The city's investment market is now suffering too.

  • Carnaby retailer shuts up shop

    26 May 2006

    Men's retailer G-Room this week closed its shop on London's Carnaby Street after poor sales.

  • Case news

    26 May 2006

    Warren Gordon reports on how a City law firm escaped a claim for breach of duty, while Jonathan Ross explains how a borrower sued a lender for failing to come up with the money

  • Castlemore captures £275m Leeds city centre scheme

    26 May 2006

    Developer to pay £17m for council and university site where it plans offices, retail and residential

  • Cisco renews JLL contract

    26 May 2006

    Jones Lang LaSalle has been reappointed as property adviser for Cisco Systems on its 150-strong portfolio across Europe, the Middle East, central and eastern Europe and Latin America.

  • Cisco renews JLL contract

    25 May 2006

    Jones Lang LaSalle has been reappointed as property adviser for Cisco Systems on its 150-strong portfolio across Europe, the Middle East, central and eastern Europe and Latin America

  • Countryside plans £423m Bicester community scheme

    26 May 2006

    Countryside Properties has submitted an outline planning application to Cherwell District Council for a £423m mixed-use scheme in south-west Bicester.

  • Covent Garden piazza

    26 May 2006

    The world-famous Covent Garden piazza and market hall is to be sold with a price tag of around £350m and at a net yield of 4.25%. The Covent Garden Market Limited Partnership, a joint venture between Scottish Widows Investment Partnership and Henderson Global Investors, has appointed investment agent Joiner Cummings, and is to approach prospective buyers this week. The site comprises ...

  • Coventry station awaits mixed-use facelift

    30 May 2006

    Coventry station is to be transformed under plans for a 3m sq ft (278,707 sq m) mixed-use scheme on a 20 acre (8 ha) site surrounding it

  • Crushman & Wakefield

    26 May 2006

    Cushman & Wakefield's Edinburgh office has really gone to town with its latest office leasing instruction.

  • Cushman's Farthing finds it's tough at the top

    26 May 2006

    There is a sad ending to Harry Farthing's attempt to climb Everest.

  • David the goliath

    26 May 2006

    The £535m St David's 2 development in Cardiff will transform the Hayes from a secondary retail pitch.

  • Debt wish

    26 May 2006

    De Montfort University's latest bank lending study shows property's outstanding debt is continuing to soar.

  • Developers pay £2bn in section 106s

    26 May 2006

    Developers contribute almost £1.1bn a year through section 106 agreements, government research has found

  • Diary of... a project manager

    26 May 2006

    Nigel Wheeler, chairman of management services at Jones Lang LaSalle, takes us through his week

  • E.On takes Orbit offices in year's biggest Greater Mancs letting

    26 May 2006

    In this year's largest letting in Greater Manchester, German industrial group E.On is to take two buildings at the Parklands phase at Orbit Developments' Middlebrook scheme.

  • Environmental services

    26 May 2006

    Waste disposal should be seen as a standard development cost

  • Foreign ownership in City doubles in 10 years

    30 May 2006

    Foreign ownership of property in the City of London has more than doubled in the last 10 years to 45%.

  • France

    26 May 2006

    Arlington buys French parks for 55.7m Gestitres SA Vive les diffrences Bare-faced chic Harbouring doubts Bare-faced chic Harbouring doubts A logistical move Thrill de France Slough to expand Wales's oldest industrial estate

  • Fraser CRE's Cooke goes it alone

    26 May 2006

    Howard Cooke, managing director of corporate real estate adviser Fraser CRE, has resigned to set up his own consultancy.

  • French U-turn scores nul points for industry

    26 May 2006

    The politics of property, with Steven Norris

  • Gestitres SA

    26 May 2006

    Gestitres SA, part of financial business Group Caisse d'Epargne, has taken 91,500 sq ft (8,500 sq m) at Standard Life's Cap de Seine offices at Ivry Port in Paris at €265/sq m (£16.87/sq ft) on a nine-year lease. Newport acted for Standard Life; CB Richard Ellis acted for Gestitres SA.

  • Great Portland produces best portfolio value rise

    26 May 2006

    REIT candidate Great Portland Estates produced the best portfolio performance of the March year-end property companies, achieving a 24.7% rise in the value of its portfolio.

  • Gubbays' £265m German buys

    26 May 2006

    Prime Commercial Properties, the Gubbay family's property company, made a ¤390m (£265m) acquisition in Germany this week.

  • Halladale raises £30m of equity with share issue

    26 May 2006

    Halladale has raised £30m of new equity from an issue of new shares and loan stock.

  • Hammering homes

    26 May 2006

    Planning minister Yvette Cooper last week reaffirmed her support for a development land tax. How will this affect housing? Mark Shepherd reports. Illustration by Matt Pattinson

  • Hammerson launches green construction drive

    26 May 2006

    Developer to review building consultants and remove air conditioning from its shopping centres

  • Hammerson sells prime Paris office interest to FOSCA

    31 May 2006

    Hammerson has sold its 50% interest in a prime Paris office building for €39.7m (£27.2m) to its joint venture partner, FOSCA, it announced today

  • Hanover square

    26 May 2006

  • Harbouring doubts

    26 May 2006

    Developers Gazeley and ProLogis have renewed their focus on Le Havre and Dunkirk, but expensive port taxes and complex labour relations could put off occupiers. Anna Goldie reports

  • Henderson launches €350m German fund

    26 May 2006

    Fund manager and Ahli United Bank set up third opportunity fund

  • Henderson wins control of Edinburgh's St James site

    26 May 2006

    City centre site now in single ownership for first time, and will be redeveloped as retail and offices

  • Industry forms Property Alliance

    26 May 2006

    The British Council for Offices, the British Property Federation, the Investment Property Forum and the RICS have formed the Property Alliance in a bid to give the commercial property sector a stronger voice and build on its successful REITs campaign.

  • Inside parliament

    26 May 2006

    Ministers' questions

  • IVG agrees £150m City purchase

    26 May 2006

    German property fund manager IVG Asticus has agreed to buy three buildings in the City of London this week for around £150m.

  • LandSecs to try giant office at Old Bailey

    26 May 2006

    Ken Shuttleworth's Make to design 700,000 sq ft scheme on City site

  • Life after the clampdown on duty avoidance

    26 May 2006

    Treasury puts squeeze on property held in unit trusts, says Patrick Cannon

  • Lifestyle

    26 May 2006

    Something for the weekend, with James Max

  • Macau property fund hatches AIM plan

    26 May 2006

    Fund hopes to raise £105m for investment in Chinese gambling haven

  • Macquarie acquires Eurinpro in European drive

    25 May 2006

    Australian property investor Macquarie Goodman Group has bought European warehouse developer Eurinpro for €352m (£240m) in its push to expand on the continent

  • Manhattan view: Steve Cuozzo: Vornado is the glitziest REIT in town

    26 May 2006

    Chief executive Steven Roth can claim famous eaterie Le Cirque as his ‘glammest' address, says New York Post executive editor Steve Cuozzo

  • McFashion victim

    26 May 2006

    You wouldn't expect to get fashion advice from a surveyor - and even less so from Roy Durie, Ryden's 57-year-old senior partner.

  • Merthyr Tydfil

    26 May 2006

    Local people have until 23 June to give their views to Merthyr Tydfil County Borough Council on a proposed eight-screen cinema next to St Tydfil shopping centre. Diageo Pension Trust submitted a planning application for the 1.1 acre (0.45 ha) site earlier this month.

  • Minoan's £775m Crete scheme close to final consent

    26 May 2006

    After 10 years of ‘bureaucratic sloth' UK group awaits go-ahead for luxury resort and AIM listing

  • Morley and LaSalle create Euro fund

    31 May 2006

    Morley Fund Management has teamed up with LaSalle Investment Management to set up a European open-ended fund called Encore+

  • Mountgrange Capital

    26 May 2006

    Martin Myers and Manish Chande's Mountgrange Capital is to sell Legal & General's Hove headquarters to Irish Life for £70m - an initial yield of 5.15%. Mountgrange acquired the site as part of a £60m portfolio from Dutch fund Sofam in 2004. Savills is acting for Irish Life;

  • Name that shed

    26 May 2006

    Shed developers seem to have a ‘mine's bigger than yours' complex.

  • NAO slams hospital plan collapse

    26 May 2006

    A lack of leadership was a big factor in the collapse of plans to build a new health campus at Paddington, the National Audit Office has said.

  • Officers Club fights for turnover-based rents

    26 May 2006

    180-store menswear retailer joins retailers' campaign against quarterly rents

  • Olivia Lumley and Marcus Freed

    26 May 2006

    Olivia Lumley and Marcus Freed, actors from London-based City Drama, performed in a workshop on the branding of REITs at the British Council for Offices conference in Dublin two weeks ago. In a session chaired by Kingsley Lipsey Morgan's Howard Morgan and Property Week editor Giles Barrie, they acted out scenarios showing how REITs might affect private investors, independent financial advisers and property companies.

  • People

    26 May 2006

    THis week's movers

  • Planning minister backs land tax

    26 May 2006

    Planning and housing minister Yvette Cooper and shadow chancellor George Osborne both attempted to persuade developers this week that they could make the proposed development land tax work.

  • Professional advice

    26 May 2006

    This week, licence agreements, planning gain supplement and service charges

  • ProLogis secures five distribution lettings

    26 May 2006

    ProLogis today announced that it had let 900,000 sq ft (83,612 sq m) of distribution space throughout the UK

  • Quintain in hunt for UK's first supercasino

    26 May 2006

    Quintain's regeneration schemes in Wembley and Greenwich are up against six rivals to win the right to develop the UK's first ‘supercasino'.

  • REIT conversion would save Derwent £70m

    26 May 2006

    Derwent Valley Holdings, the central London office specialist, said this week that converting into a REIT would save it more than £70m.

  • Rising cost of borrowing is not holding investors back

    26 May 2006

    Allsop sells 80% of May commercial stock as interest rates peak and buyers show resilience

  • Roger Carey

    26 May 2006

    Former Slough Estates managing director Roger Carey (centre) has joined affordable housing specialist Ibis Project Services as chairman. Aidan Mills-Thomas (far right) has also been appointed as chief executive, following his management buy-in, backed by private capital group MMC Ventures, in which Carey is an investor. Ibis provides professional services to housing associations.

  • Rowan poaches Reit property manager Lewis

    26 May 2006

    Nick Jacob's Rowan Asset Management has poached Reit Asset Management star property manager Geoff Lewis.

  • Savills hammer smashes £30m

    26 May 2006

    Savills commercial auction team continued its record-breaking run last Monday, smashing through the £30m sales mark for the first time.

  • Scheme captain

    26 May 2006

    Scott Gibbs, a former Welsh rugby international and Swansea Ospreys captain, is set to launch a residential venture for Liberty Properties.

  • Scottish Widows launches securities fund

    26 May 2006

    Scottish Widows Investment Partnership (SWIP) has launched a fund to invest in the securities of UK-listed property companies

  • Screen plays

    26 May 2006

    The closure of TV part makers has spawned a new breed of industrial landlord in south Wales.

  • Sellar Property Group

    26 May 2006

    Irvine Sellar's Sellar Property Group has bought the Queen's Hotel in Brighton, lifting the value of its six-strong hotels portfolio to more than £100m. Sellar is understood to have paid around £10m for the three-star 93-room hotel opposite Brighton Pier. It has conference rooms, a bar/restaurant complex, swimming pool and the Lanes Health and Leisure Club. Michael Elliott acted for the private vendor.

  • Shattock crowned Quintain heir apparent

    26 May 2006

    Nick Shattock, the mastermind of Quintain's regeneration of the Greenwich Peninsula and Wembley, was this week promoted to deputy chief executive.

  • Slough to expand Wales's oldest industrial estate

    26 May 2006

    Developer plans 80,000 sq ft for Treforest despite glut of unoccupied secondhand space

  • Standard Life's Czech entree

    26 May 2006

    Standard Life Investments has made its first central European purchase in the Czech Republic.

  • The market in minutes

    26 May 2006

    Christine Eade gives you the lowdown on all the sectors across the region

  • The Museum of London

    26 May 2006

    The Museum of London announced details of an £18m expansion last week. Donors include the Clore Duffield Foundation, founded by post-war property entrepreneur Sir Charles Clore, British Land chairman Sir John Ritblat and the Heritage Lottery Fund. A planning application has been lodged with the Corporation of London and the museum hopes to start the work next year for completion in 2009. ...

  • The standard bearer

    26 May 2006

    Property Week's campaign to clean up residential estate agency is gathering support from inside and outside the property industry. For too long unregulated, unqualified cowboys have been a stain on the property world. Now the industry itself needs to say 'enough is enough'. Below, Evening Standard property correspondent Mira Bar-Hillel reports on the limitations of existing voluntary redress schemes and her efforts to rally support for government regulation

  • Thrill de France

    26 May 2006

    Paris investment is booming but pressure on rents could freeze the market. Anna Goldie reports

  • Unlimited options

    26 May 2006

    A £5m footbridge signals a wholesale revamp of Newport led by its urban regeneration company. Caroline Stocks reports

  • Vive les différences

    26 May 2006

    The French retail and retail investment markets are a world away from their UK counterparts. Anna Goldie reports

  • Wales

    26 May 2006

    Water Co filters out 1,000 plots Merthyr Tydfil David the goliath The market in minutes David the goliath Cardiff's no show Screen plays Unlimited options Scheme captain

  • Water Co filters out 1,000 plots

    26 May 2006

    Dwr Cymru Welsh Water is to sell nearly 1,000 plots of land and buildings that have been rendered obsolete by modern technology.

  • Watts joins Insight resi fund

    26 May 2006

    Insight Investment has recruited Tim Watts, former head of residential property fund management at Savills, to lead its new residential fund management business.

  • Watts lands in Berlin and Munich

    26 May 2006

    Watts & Partners, the property and construction consultancy, has set up a German arm, Watts Consulting.

  • While others leap in blindly, keep your eyes open in Europe

    26 May 2006

    The frenzy of cross-border investment looks set to continue, says Andy Rofe


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