29 September 2006
Property Week
View all stories from this issue.
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20-30-40-50
27 September 2006
Each week we meet a property character from a different age bracket. This week Anna Goldie meets Adrian Cormican, 27, partner in the property finance team at Clydesdale Bank
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Aberdeen entente with French L’Etoile
29 September 2006
Aberdeen Property Investors has tied up with Paris-based fund manager L’Etoile Properties to develop property asset management services for the French market.
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Active Palmer fund scores £85m in ‘quiet summer’
29 September 2006
Palmer Active Value Fund II, the £225m opportunistic fund launched by Palmer Capital Partners in April, has bought five properties for a total of £85m in the last month.
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Akeler to exit Marlow International
29 September 2006
Developer to cash in after property finally lets
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An extended reach
29 September 2006
Prudential and Capital Shopping Centres’ Arndale extension has opened 85% let.
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Arlington investor falls for Maple St
29 September 2006
A private investor client of Arlington Securities has acquired 4-8 Maple Street in London’s West End for £12.1m, reflecting a net initial yield of 4.45%.
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Atisreals Spanish coup
29 September 2006
Atisreal has bought a Spanish residential and commercial agency, making it Spain’s second largest property services firm in terms of revenue.
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Barlows buys 6.5m Telford office
29 September 2006
Chester-based property company Barlows has acquired the 135,608 sq ft (12,600 sq m) International House on Stafford Park 11 in Telford for £6.5m from office supplies company Lyreco UK.
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Blackstone
29 September 2006
US private equity group Blackstone is to launch a student accommodation business called Nido and is to invest £95m in its first project in London’s King’s Cross.
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Case news
29 September 2006
Jonathan Ross reports on a battle to build housing on former BBC land, while Warren Gordon untangles a dispute between two developers over a building’s right to light
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Castlemore on the march
29 September 2006
Castlemore Securities has progressed with two retail warehouse schemes.
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Christmas for Turkey
29 September 2006
Christine Eade pays Property Week’s first visit to Turkey: she looks at the spectacular Kanyon shopping centre. She also reports from the banks of the Aegean on another scheme hoping to prosper in a new Eurasian shopping capital
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City view: James Whitmore
29 September 2006
Freeport, the European factory outlet developer, has been in the news a lot in the last year – but for the wrong seasons.
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Clause and effect
29 September 2006
Landlords will soon be answerable to a revised Code of Practice for Commercial Leases. Mark Shepherd assesses the impact of key aspects of the code
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Come on Gordon, do your bit to set small business free
29 September 2006
The investor’s chronicle, with Matthew Oakeshott
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Cooper backs tax on development
29 September 2006
Minister gives tacit commitment at Labour Party conference
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Crack squad
29 September 2006
DTZ director Andrew Mason is well known for the sidelines he had away from the daily grind of being a south-east M25 – Kent to you and me – office agent.
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Crest Nicholson Regeneration
29 September 2006
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Culzean secures Ramada agreement
29 September 2006
Culzean Holdings has secured a £20m development agreement with hotel operator Ramada Worldwide to open Northern Ireland’s first Encore hotel.
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Despite their odd ways, loving thy tenants pays off
29 September 2006
Keeping occupiers happy should be common sense for landlords, says David Pearl
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Developers are lost in the carbon jungle
29 September 2006
Environmental policies must be clarified if they are to have an impact, says Paul Boden
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Diary of... a valuer
29 September 2006
David Law, valuation partner at King Sturge, takes us through his week
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Difa’s €62.8m south-east Asian debut
29 September 2006
German open-ended fund manager Difa has made its debut acquisition in south-east Asia.
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Eastern promise
29 September 2006
Secret AAIM memo outlines £3bn Asian investment plan
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Eurinpro is expanding further into Germany
27 September 2006
The logistics operator has opened two new offices in Hamburg and Munich
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Fire risk assessments
29 September 2006
Question: The managing agents who take care of my property keep writing on behalf of the landlord to obtain information on my activities and fire arrangements. Surely I don’t have to respond?
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Going places
29 September 2006
This week's movers
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Going short on sheds
29 September 2006
The search is on for industrial space in east Manchester. Paul Unger reports
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Good neighbours
29 September 2006
Ask Developments and Network Rail last week submitted two planning applications to develop a huge mixed-use scheme at Exchange Greengate in Salford.
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Grainger Trust receives bid approach
28 September 2006
The quoted residential investor run by Rupert Dickinson saw its shares jump 8% this morning, valuing it at £788m
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Grand Kanyon
29 September 2006
Christine Eade reports from Istanbul on a gigantic new mixed-use development
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Great Portland and LMS in merger talks
2 October 2006
Toby Courtauld’s Great Portland Estates has emerged as the mystery property company in talks to merge with London Merchant Securities
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Greater Manchester
29 September 2006
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Grosvenor and ING to lure investors to Asia
29 September 2006
Asian Real Estate Association launches at inaugural MIPIM Asia
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Hall to play for at Trafford
29 September 2006
The Trafford Centre is widening its appeal with two new schemes. Heather Greig-Smith reports
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Halladale buys Billingham high street
27 September 2006
The Edinburgh based property firm has bought a high street parade and shops in Billingham, Cleveland, for £15.25m from LaSalle Investment Management.
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Hanover square
29 September 2006
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Heart and solent
29 September 2006
Malcolm Hollis cruised to victory in the annual Anglo Irish Bank Regatta.
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Helping you maximise global opportunities
29 September 2006
We mark Property Week’s biggest ever issue today with a further, highly significant expansion: a new, weekly section of global real estate news.
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Highcross Roks into Sittingbourne
29 September 2006
Highcross, the Newbury-based property fund manager led by Peter Gubb, has linked up with former Rok Development director Chris Boulter to buy a Rok site in Kent.
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HSBC global property chief quits
29 September 2006
HSBC has lost its global sector head of real estate.
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Ikea’s multi-level Hillingdon store on hold
29 September 2006
Ikea has placed plans for its first multi-level store on ice but has vowed to return next year.
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International Commerce Centre
29 September 2006
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Investor aims to quell Hungary panic
29 September 2006
Stephen Rees, chief executive of central and eastern European investment specialist Mosaic Properties, has urged private investors not to lose faith in the Hungarian property market despite political problems in the country.
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Jamie Dundas chairs net exchange
29 September 2006
Jamie Dundas, the former chief executive of MEPC, has become chairman of a fledgling online residential property share exchange.
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Jansons trade counters venture
29 September 2006
Property entrepreneur Andy Jansons has launched a company to develop trade counter properties.
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Khalastchi corrals £67m Barclays banks portfolio
29 September 2006
Private investor’s Flodrive buys 24 banks and is set for a further £95m HSBC acquisition
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Kirklees Metropolitan Council
29 September 2006
Kirklees Metropolitan Council has given the go-ahead for Ramsden & Colne Developments’ £175m Waterfront Quarter in Huddersfield. The scheme along almost a mile of the River Colne and Huddersfield Narrow Canal will have 300,000 sq ft (27,870 sq m) of offices, 460,000 sq ft (42,735 sq m) of residential, a hotel, gym, crèche, cafes and restaurants.
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Lady Dido wins round one of Lots Road fight
29 September 2006
River campaigner wins right to challenge £500m scheme in High Court
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Land Registry searches
29 September 2006
Question: I am considering making an unsolicited offer to buy a competitor. Is there any way of obtaining information about their property interests before I approach them?
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Land Securities and Tishman Speyer vie for Shell-Mex House
5 October 2006
Land Securities and US group Tishman Speyer were this week going head to head to buy London’s landmark Shell-Mex House.
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LaSalle’s Condor is almost in flight
29 September 2006
LaSalle Investment Management is close to completing the letting of its Condor House in the City of London.
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Lease guarantors
29 September 2006
Question: I am a landlord but my tenant has been dissolved. What steps should I take to pursue the tenant’s guarantor?
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Leeds united
29 September 2006
Hammerson and Town Centre Securities have teamed up for the latest in a new wave of shopping centres.
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Let it all hang out
29 September 2006
At a recent gathering of Birmingham office agents, developer Mark Glatman hosted a competition to find the most popular one.
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Let it snow
29 September 2006
Heather Greig-Smith meets the entrepreneurs behind the Chill Factor indoor ski centre
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Lifestyle
29 September 2006
Something for Manchester, with James Max
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Linden presses government for housing answers
29 September 2006
Linden Homes has called on the government to take action on land and housing shortages following last week’s damning report from the Joseph Rowntree Foundation on the affordability crisis in parts of the UK.
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Loft identity
29 September 2006
A residential agent has been awarded CoolBrand status.
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Manchester on a plate
29 September 2006
Established London names are entering the Manchester restaurant scene.
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Manchester Square’s day of the orchids
29 September 2006
Sir John Ritblat is immersed in a spat with Westminster City Council over the erection of an 11 metre orchid in London’s Manchester Square.
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Manhattan view: Steve Cuozzo: Class war breaks out on New York’s East Side
29 September 2006
Sale of Stuyvesant complex divides opinion on social housing, says New York Post executive editor Steve Cuozzo
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Meet the team (II)
29 September 2006
You met the Property Week editorial team in our 10th anniversary special issue on 23 June. Now here are some of the other faces behind Britain’s top property news magazine.
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Minerva rejigs City office schemes
29 September 2006
‘Too big’ 50-storey Minerva Building reverts to 14-storey 1999 proposal
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Morley takes a punt on Haydock market
29 September 2006
Developer signs agreement with English Partnerships
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Mother of a mistake
29 September 2006
To Rok Development’s annual Solent Property Tennis Tournament last week, where Rok director Tim Titheridge was spotted getting rather excited during the raffle at the prospect of winning a ‘MILF for two’.
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Mothercare takes delivery of Philip Green’s property chief
29 September 2006
Graham Smith to leave Arcadia to lead mother-and-baby retailer’s aggressive expansion
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Mussarat’s Mancunian mandate
29 September 2006
Heather Greig-Smith hears how residential tycoon Aneel Mussarat added commercial to his £400m portfolio.
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Newhaven port to undergo £200m makeover
27 September 2006
Bannertown and US investor Apollo Real Estate Advisors have been chosen to draw up a redevelopment plan for the port in Sussex.
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Next
29 September 2006
Next is ramping up its new Lime 50%-cheaper concept. It is trialling Lime stores on the high street by converting former Next shops across the country. Its first two stores are a 4,500 sq ft (418 sq m) store in Derby and another in Newbury.
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Next trials Lime discount shop ... and plans home store at Lakeside
29 September 2006
Next is to challenge furniture retailer Ilva at Lakeside with its second homeware-only store in the UK.
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Oldham plans its own West End theatre land
29 September 2006
Oldham Council last week launched its vision for an educational and theatre quarter in the town’s West End.
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Oracle splashes out £47m on Isle of Dogs site
29 September 2006
David Burke’s Oracle Group is set to purchase a £47m site on the Isle of Dogs from Cyril Dennis’s Capital & Provident for a mixed-use scheme.
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Partridge flies in as Argent joint head
29 September 2006
Argent last week appointed David Partridge as joint chief executive with Roger Madelin.
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Philips pulls plug on £190m pension portfolio
29 September 2006
Ackerman picks up 38 properties as electronics giant turns to gilts and equities
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Pilgrim
29 September 2006
Upmarket Danish accessories brand Pilgrim is to make its UK debut at Kent’s Bluewater. Pilgrim has 10 shops in Denmark, one in Dublin’s Dundrum Centre and one in Paris. It is to take the 775 sq ft (71 sq m) Swarovski store at Bluewater and is also looking for central London stores. Donaldsons advised Bluewater; Ashley Philip Selwyn advised Pilgrim.
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PMG and Barratt to take i-pads to Wales
29 September 2006
Consent given for £65m residential redevelopment of Addis factory site in Swansea
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Profits fall by a third at London & Associated
29 September 2006
London & Associated Properties, the shopping centre investor, saw its pretax profit fall by a third in the first half of the year to £1.27m.
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ProLogis and Kenmore float
29 September 2006
Two European industrial property companies completed their flotations this week.
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Protego fills debut £350m shopping centre fund basket
29 September 2006
Co-investor EFM Asset Management to oversee initial seed portfolio of three Shrewsbury centres
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Prudential goes continental with €380m property fund
29 September 2006
M&G European Property Fund launches with assets in France, Italy and the Netherlands
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Quintain and Lend Lease choose Bellway for Greenwich Peninsula
29 September 2006
Quintain Estates and Lend Lease have selected Bellway Homes to build the first residential apartments at the £5bn Greenwich Peninsula regeneration project
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Race commission to probe councils’ regeneration role
29 September 2006
The Commission for Racial Equality has launched a year-long investigation into the impact
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Ravel to take Irish factory outlet unit
2 October 2006
Footwear brand Ravel has signed up for its first Irish factory outlet unit
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RBS and Delancey back £500m Allied London buyout
28 September 2006
The Royal Bank of Scotland and Jamie Ritblat’s Delancey have backed a £500m management buyout of city centre development specialist Allied London
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RBS and Delancey back £500m Allied London buyout
29 September 2006
Ingall and his team to go on acquisition spree
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Retailers demand terror discount
29 September 2006
Retailers at Britain’s airports are demanding that airports operator BAA reduce rents in response to the downturn in trade following last month’s terrorist alerts.
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Rhys jamess beatbox
29 September 2006
Speaking of DTZ men who are slightly nuts, I’d been trying in vain to contact the firm’s Cardiff man, Rhys James.
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RICS to set site valuation guidance
29 September 2006
The prospect of the planning gain supplement has prompted the RICS to publish guidance for valuers of development sites.
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Schroders
29 September 2006
Schroders has bought the 81,000 sq ft (7,525 sq m) Chancery Exchange in the City of London for £58.8m from City & Provincial and Macquarie Global. The price paid reflects an equivalent yield of 4.75%. Cushman & Wakefield advised Schroders; Allsops advised the vendor.
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Schroders mints it at Borehamwood Imperial
29 September 2006
Schroders has bought Imperial Place Office Campus in Borehamwood, Hertfordshire, from Property Merchant Group and Europa Capital’s Europa Fund II for £47m.
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Shaft of light
29 September 2006
Manchester’s office market is having a poor year. Heather Greig-Smith reports
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Songbird announces 23.8% increase in adjusted NAV
29 September 2006
Songbird Estates, the AIM-listed company which owns Canary Wharf Group, enjoyed a 23.8% increase in adjusted NAV in the six months to June 30.
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Staffordshire developers chase small business sector
29 September 2006
Pritchard, Langtree and English Partnerships plan schemes in Cannock
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Staffs + Shrops
29 September 2006
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Stonehage amasses €400m Euro war chest
29 September 2006
The Stonehage Group, the Jersey-based private client wealth management company, has built a €400m (£267.7m) war chest to invest in commercial and residential property across the UK and Europe.
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Street wise
29 September 2006
Manchester office specialist Bruntwood is taking on an entire street in its latest venture.
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Tesco submits green Tolworth plans
3 October 2006
Tesco has today submitted a planning application to develop a ‘green’ scheme at a former Ministry of Defence site in Tolworth, west London
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the end of the appeal
29 September 2006
The Valuation Office Agency’s new regime to cut appeals against its rating assessments is slashing surveyors’ workloads
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The market in minutes
29 September 2006
Heather Greig-Smith gives you the lowdown on all the sectors across the region
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The market in minutes
29 September 2006
Sean McAllister gives you the lowdown on all the sectors across the region
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The missing link
29 September 2006
A key gap site could help consolidate Shrewsbury’s strong shopping profile.
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The paperless office is becoming a reality
29 September 2006
David Lawson reveals that new document-management systems are banishing reservations
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The world according to Reit
29 September 2006
Deirdre Hipwell speaks to overseas investment pioneers Leo Noé and Kevin McGrath.
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The Wrekin crew
29 September 2006
A development company has been formed to revitalise Telford. Sean McAllister reports
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Towering personality
29 September 2006
The Salford/Manchester border has become a focal point for development. Paul Unger meets developer Bashar Issa, while over the page Heather Greig-Smith reports on the Exchange Greengate project
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Tritax makes Trax in Doncaster with £22.5m F&C sale
29 September 2006
A syndicate of private investors managed by Tritax Assets has sold phases one and two of Trax Park in Doncaster to F&C Property Asset Management for £22.5m, reflecting a net initial yield of 5.35%.
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Trouble on site
29 September 2006
Referee
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Tunstall plans approved
29 September 2006
Stoke City Council has approved developer Dransfield Properties’ plans for the £20m mixed-use redevelopment of a former Wedgwood Pottery site in Tunstall.
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Vote for your top three most influential women in property
29 September 2006
Women are quite rightly becoming more and more influential in the property sector. Later this year our magazine will publish a list of the 50 most powerful women in property, based on your suggestions. We’d be delighted if you could tell us who you would like to see on the list by clicking here to vote now.
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Warner and Barclays launch Greater London office fund
2 October 2006
Warner Estate Holdings, the quoted co-investing property fund manager, has set up a Greater London office fund with Barclays Capital
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We must keep the West End fit for purpose...
29 September 2006
...and the London Retail Summit is where we can set the agenda, says Ken Livingstone
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Westbrook scores £170m Victoria coup
29 September 2006
US fund manager beats IVG to Buckingham Palace Road sale and leaseback
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When darkness falls...
29 September 2006
… Stafford residents have very little to entertain them. Sean McAllister reports on plans to transform the ‘dormitory town’
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Why Mould and Vaughan are back together
29 September 2006
The London & Stamford Investment pair tell Laura Chesters about setting up again for the third time
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Young turk
29 September 2006
Palm trees and pastiche is the flavour for a Morgan Stanley-backed shopping centre just inland from the Aegean. Christine Eade reports from Turk Mall
