Activity
Property Week
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Allsop auction boosted by distressed sellers
12 July 2012
Allsop’s summer commercial property auction, a bellwether for the investment market, achieved a positive result yesterday, fuelled by distressed sellers.
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Acuitus sells 58% of lots at July auction
11 July 2012
The auction market “is not on the slide”, Acuitus auctioneer Richard Auterac insisted today after the firm’s July sale.
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Christie's sold on Strutts expansion bid
7 June 2012
Strutt & Parker has signed an agreement with auction house Christie’s as part of a plan to improve its access to foreign buyers of luxury homes.
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Former Lithuanian Embassy to go under the hammer
4 May 2012
Acuitus is to offer 56 lots at its auction on 24 May, including the former Lithuanian Embassy at 84 Gloucester Place, London.
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CBRE achieves 64% success rate at debut auction
11 November 2011
CBRE achieved a 64% success rate at its debut auction yesterday, raising £26.5m.
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Allied’s Spinningfields Union put on ice
8 November 2011
Allied London has shelved plans to bring forward 350,000 sq ft of office space at Spinningfields in Manchester, after development funding talks with Frankfurt-based Union Investments were put on hold indefinitely.
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Camden’s King’s Cross HQ plans approved
8 November 2011
Planning permission for Camden Council’s contact centre and office accommodation, a new public sports centre and modern public library at King’s Cross Central has been granted.
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New property lending at Eurohypo suspended
7 November 2011
The UK property investment market took another turn for the worse last Friday, when it was announced that Eurohypo, one of the biggest and most consistent lenders to the sector, will undertake an immediate suspension of all new business.
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East Kilbride deal unlocks Cowes development
17 August 2011
Clowes Developments has completed the sale-and-leaseback of an 800,000 sq ft semiconductor plant in East Kilbride in Scotland, unlocking a 700,000 sq ft redevelopment opportunity.
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Kirsh sells Minerva shares to Area and Delancey
17 August 2011
Minerva’s largest independent shareholder, South African billionaire Natie Kirsh, has finally accepted the takeover offer from Area Property Partners and Delancey.
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Morgans to run Sea Containers House hotel
16 August 2011
Morgans Hotel Group is to operate the hotel at the refurbished Sea Containers House on London’s South Bank.
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Central Saint Giles scores Cabana restaurant
16 August 2011
Legal & General Property and Mitsubishi Estate Company’s Central Saint Giles has let one of its food units to Cabana, a new Brazilian barbeque restaurant.
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RBS’s West Register and Invesco to wind up £207m listed trust
15 August 2011
Fund manager Invesco Real Estate and West Register – the property management company within Royal Bank of Scotland – today said that they had agreed to liquidate a heavily indebted listed property company before 2014.
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Europa Capital and St Congar buy in Suffolk
15 August 2011
The English Residential Land Partnership, a joint venture between Europa Capital and St Congar Land, has bought a site close to Sudbury, Suffolk.
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MGPA's €220m Danish retail deal
15 August 2011
Private equity fund manager MGPA has bought a €220m Danish department store property in a joint venture with two other investors.
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Pramerica raises £98m for ground rent fund
15 August 2011
Pramerica Real Estate Investors today revealed it had raised £98m of new equity for a ground rent fund, taking the total raised for the fund to £225m.
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Terrace Hill signs Skelton prelet
15 August 2011
Terrace Hill has agreed a prelet and development agreement with Asda to develop a supermarket in Skelton, East Cleveland.
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Land Securities scores hat-trick of deals at Overgate
8 August 2011
Superdry, Apple reseller Stormfront and Paperchase have all taken new units at Land Securities’ Overgate centre in Dundee.
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Aviva tees up giant West End scheme
8 August 2011
Aviva is close to piecing together a development site in London’s West End that could bring to the market about 600,000 sq ft of mixed-use space.
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United House buys £9m Shoreditch site
8 August 2011
London developer United House has bought a former pub in London’s Shoreditch as a development site for an office and residential scheme.
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Shop owners condemn Tottenham riots
8 August 2011
The British Retail Consortium has today condemned the weekend’s London rioting, claiming that community difficulties would not be helped by torching shops.
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Five ING staff transfer to Picton
8 August 2011
Picton Capital has today announced it will hire five staff from ING Real Estate Investment Management, as it continues with the internalisation of its management.
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Focus on quality companies, JP Morgan says
8 August 2011
Investors were today urged to buy “quality” shares in companies such as British Land, Land Securities, and Shaftesbury, as the markets react to the downgrading of the US’s AAA credit rating.
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Barratt confirms £170m loan book sale talks
8 August 2011
Barratt Developments has today confirmed that it is in talks to sell some of its £170m portfolio of shared-equity loans.
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JLL in Far East takeover
8 August 2011
Jones Lang LaSalle has today announced the takeover of an Indonesian firm that will create the largest property services firm in the country, 10 years after the two demerged.
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New tower prelet completes Canary Wharf vision
8 August 2011
Canary Wharf Group has agreed a prelet of 250,000 sq ft in a new office building of over 500,000 sq ft to be constructed at 25 Churchill Place in London’s Docklands.
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Two new tenants at British Land's Giltbrook Retail Park
5 August 2011
British Land has doubled its catering offer at Giltbrook Retail Park, Nottingham with Pizza Express and Nando’s both signing new leases.
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Mayfair Capital buys nine properties
3 August 2011
The Mayfair Capital Property Unit Trust has bought nine assets in the second quarter of 2011.
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Allianz agrees US residential venture with Archstone and CPPIB
3 August 2011
Allianz Real Estate has entered the US residential market.
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Capital Shopping Centres delivers flat half-year figures
2 August 2011
Capital Shopping Centres this morning produced an underwhelming set of half-year results that were not as good as rival Hammerson’s.
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Plans submitted for Thames floating “Park”; new images released
2 August 2011
A consortium of property investors and professionals has today submitted plans for a floating pontoon on the left bank of the Thames, called the London River Park.
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Regent Street blocks bought by Crown and Norges
1 August 2011
The Crown Estate and Norges Bank Investment Management have made their first joint purchase of Regent Street assets, following the sale of 25% of the Crown’s Regent Street holdings to the Norwegian fund in January.
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Quinlan’s former Libyan School in Chelsea to be developed by Orion
1 August 2011
Orion Capital Managers has bought a one acre freehold site in the heart of Chelsea, London, for luxury residential development.
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Green light for O2 "Skywalk"
29 July 2011
Venues operator AEG has secured planning permission for a walkway traversing the roof of The O2 in Greenwich, east London.
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JLL to sell ITV’s Manchester site
29 July 2011
ITV has appointed Jones Lang LaSalle to prepare its Quay Street HQ in Manchester for sale in 2013.
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Tishman Speyer confirms Sanctuary buy
29 July 2011
Tishman Speyer has today confirmed its purchase of Sanctuary Buildings in London’s Victoria, which was first revealed by Property Week in June.
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Free school collides with property vehicle
29 July 2011
Government’s property unit and free school scheme vie for same property
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West End still London’s office hotspot
27 July 2011
Central London take-up fell to 2.2m sq ft in the second quarter, but the West End remains strong with the vacancy rate falling to 3.8%, according to CB Richard Ellis’s Central London Offices survey.
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Aquatics Centre unveiled as main Olympic Park venues completed
27 July 2011
The Olympic Delivery Authority has today announced that the Aquatics Centre in London’s east end is complete, concluding the construction process for the six main permanent Olympic Park venues.
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Lloyds renews Scotia Homes debt
26 July 2011
Scotia Homes has agreed a new revolving credit and guarantee facility with Lloyds Bank Corporate Markets, which is committed until April 2014.
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Search begins for tenants for Sellar’s “The Place”
25 July 2011
The Place, the 430,000 sq ft office scheme that forms part of the Sellar Property’s London Bridge Quarter, began its formal search for tenants today with an official launch.
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Germans to fund £165m Manchester scheme
21 July 2011
Allied London is close to obtaining £165m of funding for a 350,000 sq ft office block at Spinningfields in Manchester, in what would be a stunning speculative deal for the north-west.
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Co-op Bank loan to kick off £50m Coventry scheme
20 July 2011
Co-operative Bank has agreed to finance Barberry Developments’ £50m plans for the former Royal Mail Sorting Centre at Bishop Gate in Coventry.
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DevSecs buys Essex sites out of receivership
20 July 2011
Development Securities has bought two properties in Ilford and Abbey Wood from LPA Receivership, both of which it plans to redevelop into mixed use schemes.
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Peel and Barratt in £200m tie-up
20 July 2011
Peel Group and Barratt Homes have formed a partnership to bring forward residential schemes worth £200m across the north-west and Yorkshire.
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Canary Wharf closes in on City development buy
19 July 2011
Canary Wharf is close to agreeing a deal that would see it undertake its first solo development in the City of London, propertyweek.com can reveal.
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CapCo Earls Court scheme set to encompass Hammersmith & Fulham estates
19 July 2011
Listed developer Capital & Counties is to give a £15m deposit to Hammersmith & Fulham council as part of a deal to include the West Kensington and Gibbs Green housing estates in its £8bn Earls Court regeneration scheme.
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DevSecs abandons Shell Centre bid
19 July 2011
Development Securities, in a joint venture with US private equity firm Carlyle, is believed to have pulled out of the bidding process to redevelop the massive HQ building of Royal Dutch Shell on London’s South Bank.
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Metro scores largest Salford Quays letting of 2011
18 July 2011
Engineering firm Sinclair Knight Merz is taking 18,000 sq ft on the top floor of BAM Properties’ Metro office development in Salford Quays, in the area’s largest letting of the year.
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Dentists to fill 18,000 sq ft Bolton HQ
18 July 2011
Dental service provider Integrated Dental Holdings has taken an 18,000 sq ft head office building in Bolton, Greater Manchester.
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LaSalle buys Farringdon block
18 July 2011
Standard Life has sold The Corner at 91-93 Farringdon Road in east London to LaSalle Investment Management for £9.75m.
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Knight Frank shuts Liverpool office and ponders redundancies
18 July 2011
Knight Frank is to close its offices at Liverpool, and has placed all staff members in Manchester and Liverpool on redundancy consultation, to be carried out over the next two weeks.
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Allsop in Colliers West End poach
15 July 2011
Allsop is to re-enter the West End leasing and investment market, after poaching two directors from Colliers International.
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McKillen beats Nama off £1.4bn property loans
15 July 2011
Ireland’s “bad bank” has decided not to buy loans worth £1.4bn secured against the assets of Paddy McKillen, a spokesman for the Irish developer said today.
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Croydon set to approve Ruskin Square and Menta
15 July 2011
Nearly 2m sq ft of proposed development near East Croydon Station is expected to be given the green light next Thursday, after being recommended for approval by planning officers.
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MPs and PWC to probe £250bn council-owned property use
15 July 2011
The government has today launched an inquiry into how local authorities can better use their £250bn property assets to boost development and economic growth.
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Fashion use proposed for Olympic media complex
15 July 2011
A consortium of fashion brands backed by Resolution Property has joined the list of parties lobbying to take over the 1m sq ft Olympic media and broadcast centres in east London after the 2012 Games finish.
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Lord Sugar to sell St James’s block
13 July 2011
Amsprop, the company founded by the Apprentice star, is to sell an office building in St James’s, London.
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Knight Frank public sector trio departs
12 July 2011
GL Hearn has poached three members of Knight Frank’s public sector consultancy team.
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Highcross buys former HBOS assets
12 July 2011
UK opportunity fund Highcross has bought seven office and industrial properties in Aberdeen, Dunfermline and Glasgow, in a £20.3m deal.
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Green light for Westminster’s North Wharf plans
11 July 2011
Plans for a 710,000 sq ft mixed-use scheme in the Paddington Basin were given have been given the green light by Westminster council, which is intending to sell the site for redevelopment.
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Galliard buys 7-9 Portland Place for resi
11 July 2011
Galliard Homes has paid £11m for 7-9 Portland Place, an office building in London’s West End which it plans to convert into luxury homes.
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Odeon Leicester Square site to be put up for sale
8 July 2011
The Odeon Cinema development site in London’s Leicester Square will be formally brought to the market following an agreement between the National Asset Management Agency and Real Estate Resolutions, which owns part of the site.
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Baci Lingerie debut's at St David's
8 July 2011
Baci Lingerie is to launch its first UK store at St David’s, the Cardiff shopping centre jointly owned by Capital Shopping Centres and Land Securities.
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Expedia books in at Angel Building
6 July 2011
Derwent London has confirmed the letting of two floors at its Angel Building in east-central London to online holiday broker Expedia, and revealed a new Thai restaurant tenant for the property.
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CityHeart plans Edinburgh student resi
6 July 2011
Chester-based property firm CityHeart Developments has been granted planning permission for a new 778 bed student accommodation in Edinburgh, which has been pre-let to Edinburgh Napier University.
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OPLC probes stadium occupier selection process
5 July 2011
The Olympic Park Legacy Company has launched an independent investigation into its selection process for a post-Games Olympic Stadium occupier, following allegations against corporate services director Dionne Knight, who was suspended on Friday.
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Wellcome publishes Olympic Park takeover plans
5 July 2011
Charitable foundation The Wellcome Trust has made public its plans for a £1bn takeover of London’s Olympic Park.
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Norwegian sovereign wealth fund completes second deal
5 July 2011
The Norwegian sovereign wealth fund has completed its second deal in a £15bn investment drive, with the purchase of 50% of a €1.4bn Parisian portfolio from Axa.
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Harrison Leggett is formed
5 July 2011
Two West End office agency stalwarts have created a new “niche” agency serving the central London market.
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Welput buys St Martins Place block
4 July 2011
EstCapital has sold 7-8 St Martins Place to the West End of London Property Unit Trust (WELPUT), a closed-end fund managed by Schroders, for £41m.
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GLA strikes landmark £600m bond deal with Lloyds
4 July 2011
Lloyds Bank Corporate Markets has put together the first local government bond deal in 17 years, with a £600m bond issue to help the Greater London Authority pay for Crossrail.
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£3bn BarCap-backed private rental fund revealed
1 July 2011
The much-vaunted dawn of the UK’s private rented housing sector came a step closer today, as housing minister Grant Shapps supported the launch of a £3bn private rental vehicle.
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Urban Splash gets new head of lettings
1 July 2011
Regeneration company Urban Splash has promoted one of its associate directors to the position of national head of lettings.
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RBS demands sale of former Guiness factory
1 July 2011
A vacant building at west London’s First Central has been put up for sale by Royal Bank of Scotland.
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Springfield buys Redrow's Scottish arm
1 July 2011
Elgin-based developer Springfield Properties has paid £49m for Redrow’s Scottish business, which was put up for sale earlier this year.
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Siskind to step down as Goldman Sachs’s real estate head
1 July 2011
Ed Siskind, the head of Goldman Sachs’s Real Estate Principal Investment Area (REPIA), is to retire at the end of the year.
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Blackstone to take on £1.6bn of property loans from RBS
1 July 2011
Royal Bank of Scotland has agreed to sell a £1.6bn portfolio of property loans to a company managed by Blackstone in a key deal for the property and banking markets.
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MEPC to complete CMBS refinancing a year ahead of maturity
1 July 2011
MEPC, the business estate owner, will complete a refinancing of its commercial mortgage-backed securities on 20 July.
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Retirement villages go into administration
29 June 2011
Two retirement villages in the south west have fallen into administration.
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Tishman help hired for Goldman 1m sq ft development
29 June 2011
Goldman Sachs is believed to have appointed Tishman Speyer to help develop a 1 million sq ft “groundscraper” next to its London headquarters.
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Area and Delancey announce £202.6m recommended offer for Minerva
29 June 2011
Area Property Partners and Delancey this morning revealed a £202.6m recommended cash offer for London developer Minerva.
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Blackburn’s Tithebarn appeal quashed
29 June 2011
Manchester’s high court has upheld the decision of communities secretary Eric Pickles to allow Lend Lease’s £700m Tithebarn development to go ahead, quashing opposition from neighbouring councils that argued it would be draw business from local town centres.
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British Land buys Hutchison Whampoa HQ
29 June 2011
British Land has bought a 198,000 sq ft office and leisure complex in Maidenhead town centre for £74m.
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Second Oxford St letting for Salmon
21 June 2011
NFU Mutual and Salmon Property have secured a second office tenant for their £35m 175 Oxford Street office and retail development in London, following a recent letting to Korean oil company SK.
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Qataris get Chelsea Barracks consent at second try
21 June 2011
Qatari Diar’s controversial residential scheme at London’s Chelsea Barracks was last night granted planning permission by Westminster council.
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Hermes buys 40-50 Eastbourne Terrace
20 June 2011
Hermes Real Estate Investment Managers, on behalf of the British Telecom Pension Scheme, has exchanged contracts to buy 40-50 Eastbourne Terrace from Westlink Global Investments for £76m.
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£30m Hong Kong cash for Pinnacle
20 June 2011
Pinnacle Regeneration Group has received £30m of investment from three Hong Kong-based families in order to fund its expansion plans.
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Jaro buys in New Oxford Street
17 June 2011
Jaro Real Estate, the investment vehicle of ex-King Sturge partner David Hallett, has struck its first deal by buying Isis House at 64-76 New Oxford Street in London for £9.5m.
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CMS Cameron McKenna to prelet Hammerson City scheme
15 June 2011
Law firm CMS Cameron McKenna has signed heads of terms to take a prelet at Hammerson’s Principal Place scheme in the City.
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Law firm Linder Myers buys Manchester HQ
15 June 2011
Linder Myers, a Manchester-based firm of solicitors, has bought 55 Spring Gardens in Manchester city centre from the British Telecom Pension Scheme for its own occupation, in a deal reflecting a yield of 9%.
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£1.1bn Marriott assets to be brought to market
15 June 2011
A portfolio of 42 Marriott hotels bought for £1.1bn at the top of the market will be put up for sale after the appointment of administrators yesterday.
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Fire at Frogmore and Galliard's Strand scheme
14 June 2011
A high-end residential and hotel development in London’s Aldwych caught fire today.
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V8 Gourmet Group collapse into administration
14 June 2011
Indian restaurant chain V8 Gourmet Group, which owns the Bombay Bicycle Club and Tiffinbites brands, has been placed into administration.
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SWIP swoops on Boots block
14 June 2011
Scottish Widows Investment Partnership has placed a prime block on Oxford Street under offer at a yield of around 5%.
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Canary Wharf muscles in on Citi tower sale
14 June 2011
Canary Wharf Group is in talks to buy more than £150m of debt secured against the Citi headquarters in an effort to outmanoeuvre rivals in the £1bn sale of the building.
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Duet completes £33m of junior debt deals
14 June 2011
Duet Real Estate Finance, the listed junior debt fund, has completed two transactions totalling £33m, taking the fund to 50% invested.
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Southern Cross landlords agree to provisional restructuring
14 June 2011
Landlords of struggling care home operator Southern Cross last night agreed to a provisional restructuring which is likely to see rents cut for the short term.
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TV Centre sale to “maximise” BBC income
13 June 2011
The BBC has today announced the first phase in the sale of Television Centre in London’s White City, stating its intention to use the sale to get the highest possible income for the BBC and licence fee payers.
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Max says secondary buying opportunities persist
13 June 2011
Max Property Group, the company run by Nick Leslau and Mike Brown, said today that buying opportunities would continue to arise in the secondary market, in spite of the “snail’s pace” at which banks are deleveraging.
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MPs blast coalition's localist agenda
9 June 2011
Government ministers have so far produced no compelling vision of what their imagined “localist” future will look like, a report from the Communities and Local Government (CLG) Committee has concluded.
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Three shortlisted for £575m Mint hotel portfolio
9 June 2011
Blackstone, London & Regional and a joint venture between Goldman Sach’s Whitehall Fund and the Texas Pacific Group are understood to be on the final shortlist to buy a portfolio of seven Mint hotels for around £575m.
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15,000 sq ft of lettings for CLS
9 June 2011
CLS Holdings has announced more than 15,000 sq ft of leasing deals at its Cambridge House scheme, a 70,000 sq ft office building in Hammersmith.
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MEC City Tower deal confirmed
8 June 2011
Mitsubishi Estates has bought City Tower on London’s Bishopsgate for £95m.
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New Covent Garden loses Barratt from £1bn redevelopment race
8 June 2011
Barratt Group has bowed out of the competition to redevelop the New Covent Garden Market site in Nine Elms, leaving two French firms in the running for the £1bn deal.
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Carlyle buys Rotterdam office for student accommodation
7 June 2011
US private equity group Carlyle has bought an office building in Rotterdam for conversion into student accommodation, through its joint venture with the MacGregor family.
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Colliers hires central London investment director
6 June 2011
Colliers International has appointed a new director of central London investment.
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Workspace CEO Harry Platt to retire
6 June 2011
Harry Platt is to step down as chief executive of Workspace Group next year.
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Nobel Prize winner joins Dolphin Capital board
6 June 2011
AIM-listed residential investor Dolphin Capital has appointed a Nobel Prize winning economist to its board as non-executive director.
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St James’s Place serves termination notice on fund manager Invista
1 June 2011
The break-up of listed property fund manager Invista Real Estate Investment Management continued today with its largest separate account client giving formal notice of termination.
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Peel readies 2.5m sq ft Trade Centre plans
1 June 2011
Peel is preparing to lodge plans for its International Trade Centre in the Wirral.
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Middle Eastern resi buyers up 50% in West End
27 May 2011
The Arab Spring has caused an uptick in the number of Middle Eastern buyers of West End residential property, according to a report by West End residential agency Kay & Co.
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Park Plaza to step to London’s main market
27 May 2011
Park Plaza Hotels is to move its London Stock Exchange listing from AIM to the main market.
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Speymill Deutsche to leave AIM
25 May 2011
Speymill Deutsche Immobilien, the struggling German residential property investor, will delist from AIM on 31 May.
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Conygar gloomy on market as NAV inches up
25 May 2011
Conygar, the AIM-listed property company headed by Robert Ware, painted a gloomy picture of the market, as it revealed a 2.7% rise in its net asset value at the half-year stage.
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Lloyds exec slams "misreprentative" coverage of bank lending
25 May 2011
A senior banker at Lloyds today accused politicians and the media of misrepresenting the facts over the bank’s lending policy.
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European listed property sector could double to €600bn in five years
25 May 2011
The European listed real estate sector has the potential to double in size to €600bn over the next five years, according to the European Public Real Estate Association (EPRA).
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No 1 Leeds scores first tenant
25 May 2011
No 1 Leeds, formerly known as Latitude Red, in Leeds city centre, has secured its first tenant.
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City awaits Broadgate listing decision
25 May 2011
British Land, Blackstone and the City of London are waiting for a decision on whether or not the Broadgate development will be recommended for listed status, in a crucial decision for the future of the scheme.
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London resi rents show huge increase
25 May 2011
Rents in London have risen by 6.1% in the past six months from £37.87 / sq ft to £40.20 / sq ft, according to Jones Lang LaSalle research.
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Quintain reports NAV drop but claims “real progress” achieved during year
25 May 2011
Quintain suffered a 6% decline in its net asset value in the year to 31 March.
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NAV drop for Terrace Hill
25 May 2011
Aim-listed property company Terrace Hill today posted a net asset value drop of 11% in the six months to 31 March 2011.
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Brian Bickell to take over as Shaftesbury’s chief executive
25 May 2011
Shaftesbury has promoted its finance director Brian Bickell to chief executive.
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BNP PRE search for Aldgate Tower pre-let
25 May 2011
Stanhope and Aldgate Holdings have instructed BNP Paribas Real Estate to work alongside Savills as joint agent on the Aldgate Tower in east London.
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Crossrail hires land and property director
24 May 2011
Crossrail has hired Network Rail’s head of major development to fill the post of land and property director.
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Hyde Hospital on the block
23 May 2011
The former Hyde Hospital has been put up for sale through the Manchester office of Colliers International.
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Fresh plans unveiled for Chiswick’s ‘Octopus’
23 May 2011
London & Bath Estates and Galliard have submitted revised plans for the ‘Octopus’ office development at Chiswick Roundabout in west London, after they were denied the go-ahead by Hounslow Borough Council last year.
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Mountgrange launches resi debt fund
20 May 2011
Investment management firm Mountgrange is to launch a mezzanine fund targeting residential development.
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CSC’s Bob Tingle dies in accident
20 May 2011
Bob Tingle, director of operations at Capital Shopping Centres died in an accident yesterday, 19 May.
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Morston go-ahead for £500m Whitecross regeneration
20 May 2011
Developer Morston Assets has been granted planning permission for its £500m Whitecross regeneration near Falkirk in Scotland.
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GVA HQ sold to Hong Kong buyer
20 May 2011
Joint Treasure, a Hong Kong-based private equity firm, has bought GVA’s headquarters at 10 Stratton Street for £60m.
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NB’s Hatt quits Capita Symonds
20 May 2011
NB Real Estate’s former chairman Mike Hatt is leaving the company, following the sale of the business to property services firm Capita Symonds last year.
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Savills poaches DJD property management quartet
20 May 2011
Four directors from Drivers Jonas Deloitte’s property management team have been poached by Savills.
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JLL and BNP PRE win Stratford City job
20 May 2011
Lend Lease and London & Continental Railways have appointed Jones Lang LaSalle and BNP Paribas Real Estate as joint leasing agents for the office element of The International Quarter at Stratford City in London.
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Leeds council buys seven acres at Elland Road
19 May 2011
Leeds City Council has bought seven acres of land behind Elland Road football stadium in Beeston, as part of plans to develop the area.
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Green light for Barratt in Battersea
19 May 2011
Barratt Homes has secured planning permission for an £18m mixed-use scheme in Battersea that will provide 64 new homes.
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Google seals 160,000 sq ft deal at Central Saint Giles
18 May 2011
Google has taken 160,000 sq ft of office space at Legal & General Property and Mitsubishi Estate Company’s Central Saint Giles Development in London’s West End.
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Crown buys £20m Trafalgar House headlease
18 May 2011
The Crown Estate has acquired the headlease of Trafalgar House at 11-12 Waterloo Place in London’s St James’s for £20 million.
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St Modwen agrees Elephant shopping centre plan with Southwark
18 May 2011
Southwark council has reached an agreement with the owner of the Elephant & Council shopping centre over the centre’s redevelopment.
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Crossrail hires new CEO
18 May 2011
Crossrail has appointed a new chief executive to replace Rob Holden, who is stepping down in mid-July.
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Six more business neighbourhood plans revealed
17 May 2011
Locations in Manchester and London are among six fresh pilots for the government’s “business neighbourhood” planning scheme, to be announced on Thursday.
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Stockport hunts £100m Grand Central development partner
17 May 2011
Stockport Council has started the search for a development partner to help it regenerate Grand Central, the town centre leisure complex.
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Trafford Centre the star at CSC
17 May 2011
Capital Shopping Centres said this morning that the Trafford Centre had been the star performer in its portfolio over the last four months – but said the retail sector still faces challenges.
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HCA’s Lunts moves to GLA
16 May 2011
The Homes and Communities Agency’s executive director for London, David Lunts, has taken up a new role at the Greater London Authority.
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Almacantar buys £80m Marble Arch Tower
16 May 2011
Mike Hussey’s Almacantar has bought London’s Marble Arch Tower from clients of Orchard Street Investment Management.
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Network Rail seeks partner for Leeds Station redevelopment
11 May 2011
Network Rail today launched the search for a development partner to undertake a commercial development on land at Princes Square in Leeds, next to Leeds station.
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Hedge fund signs £97.50/sq ft lease on Savile Row
11 May 2011
York Capital Management, an international hedge fund, has taken a 7,610 sq ft lease at D2 Private’s 23 Savile Row in London’s Mayfair.
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Hermes lets 83,000 sq ft at Manchester business park
10 May 2011
Hermes Property Unit Trust has secured tenants for nine units at its Guinness Road Trading Estate in Trafford Park, Manchester, with a combined floor space of 83,000 sq ft.
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Two floors let in the City’s Senator House
10 May 2011
Two floors have been let at Senator House, 85 Queen Victoria Street in London.
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New occupiers at Brentford’s Great West House
10 May 2011
CLS Holdings has completed several deals at Great West House, its 155,000 sq ft office building on the A4 in Brentford.
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Thames Valley tech to drive south-east office growth
10 May 2011
The recovery in the south-east office market is being led by the M4 corridor areas of Hammersmith, Maidenhead and Reading.
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Public consulted on Sea Containers revamp
4 May 2011
The owner of Sea Containers House on London’s South Bank has begun a public consultation on its proposals to refurbish the building, ahead of submitting a planning application in the summer.
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London office development doubles in six months
4 May 2011
London has experienced its first rise in office construction for three years, according to the Drivers Jonas Deloitte Crane Survey.
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Grainger confirms Lloyds resi deal
4 May 2011
Listed residential landlord Grainger has confirmed its selection as the preferred supplier to asset manage Lloyds Banking Group’s residential properties that are in distress, as tipped by Property Week (03.02.11).
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Agents appointed to market LDA Royal Docks land
3 May 2011
Two property firms have been appointed to advise on the sale of the London Development Agency’s two largest remaining assets, both in London’s East End.
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Gatehouse buys £53m Scottish Rolls-Royce factory
3 May 2011
Shariah-compliant wholesale bank Gatehouse has bought a Rolls-Royce manufacturing and logistics plant in Glasgow for £52.7m.
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Lloyds puts £60m of assets on the market
3 May 2011
Lloyds Banking Group has put a portfolio of 38 distressed properties on the market through Jones Lang LaSalle.
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Last three Kenmore assets for sale
28 April 2011
Administrators to the Kenmore Property Group have put up for sale the three remaining assets formerly owned by the company, which collapsed in November 2009.
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Liverpool council appoints regeneration director
26 April 2011
Nick Kavanagh has been appointed as Liverpool City Council’s director for regeneration and employment.
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Meadow Partners recapitalises Kensington Arcade
26 April 2011
Meadow Partners’ Real Estate Fund has taken control of Kensington Arcade in west London from Englander Group.
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Lloyds picks Grainger for resi partnership
26 April 2011
Grainger has been picked by Lloyds Banking Group to help it improve the value of non-performing residential property and development loans, as tipped by Property Week (4.02.11).
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DevSecs and Cathedral acquire former EMI HQ
21 April 2011
Cathedral Group and Development Securities have bought the London Gate business park in Hayes, Middlesex from JER Partners, The Blackstone Group and Resolution.
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Sainsbury’s wins Bishop’s Waltham consent
20 April 2011
Winchester City Council has granted planning consent for a 40,000 sq ft Sainsbury’s superstore in the market town of Bishop’s Waltham, Hampshire.
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Green light for Royal Docks Travelodge
20 April 2011
Citygrove has won planning consent to develop a 131-bed Travelodge in London’s Royal Docks.
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Redrow to sell Scots arm and focus on south-east
20 April 2011
Housebuilder Redrow is to sell its loss-making Scottish business in order to concentrate its efforts on developing homes in London and the south-east.
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Baldry appointed chairman of London & Continental Railways
19 April 2011
London & Continental Railways has appointed a new chairman to replace David Cooksey and promoted a senior member of staff to chief executive.
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CBRE poaches Colliers’ Manchester head
18 April 2011
The head of Colliers International’s Manchester office is to leave the firm to join CB Richard Ellis, PropertyWeek.com can reveal.
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Galliford and Home preferred for Gateshead resi plan
13 April 2011
Evolution Gateshead, a joint venture between housebuilder Galliford Try and affordable housing provider Home Group, has been appointed preferred bidder for a £347m Gateshead housing programme.
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“Cautious” JD Sports reports 28% profit rise
13 April 2011
Retailer JD Sports today reported a 28% increase in pre-tax profits, but warned that it was “very cautious in its outlook”.
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BNP PRE poaches BT big gun
13 April 2011
BNP Paribas Real Estate has appointed BT’s former head of global real estate to help expand its UK client solutions team.
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Hansteen plans £150m cash-raising
13 April 2011
Hansteen Holdings has proposed a £147m capital-raising through the offer of 185.2m new ordinary shares to fund industrial investment in the UK and continental Europe.
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Prupim purchases £67m Tesco Superstore
12 April 2011
Prupim has completed the purchase of a 150,000 sq ft Tesco Superstore in Culverhouse Cross, Cardiff.
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One New Change 73% let after deal
12 April 2011
Land Securities have announced that SMBC Nikko Capital Markets Ltd, a subsidiary of Sumitomo Mitsui Banking Corporation, has signed a lease for 34,558 sq ft of office space at Cheapside’s retail and office complex One New Change.
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Shell to find ‘Meanwhile’ use for London HQ land
12 April 2011
Royal Dutch Shell has today announced plans to bring a new temporary use to the 43,000 sq ft of space that surrounds the Shell Centre on London’s South Bank.
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OPLC ponders neighbourhood naming ideas
12 April 2011
“Plastic Fantastic”, “Redgravia”, and “Hoy Gateway” are among the first names suggested by members of the public for the “neighbourhoods” that are to be developed at the Queen Elizabeth II Olympic Park in London’s East End after next year’s Games.
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Controversial Broadgate redevelopment recommended for approval
12 April 2011
The redevelopment of a new 700,000 sq ft HQ for investment bank UBS at Broadgate, which has been criticised by property and architecture grandees, has been recommended for approval by City planning advisers.
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Standard Life completes Aberdeen block
12 April 2011
Standard Life Investments has completed and fully let a 90,000 sq ft bespoke headquarters for Hydrasun Group in Aberdeen.
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Treasury cedes majority ownership of Battersea
11 April 2011
REO and Treasury Holdings have undertaken a wide ranging debt restructuring that will see it give up majority ownership of Battersea Power Station to its lenders
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70 Gracechurch for sale at £200m
8 April 2011
The Irish owner of 70 Gracechurch Street in the City is in talks to sell the building, which houses Marks & Spencer and XL, for around £200m.
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Pickles consults on office-to-resi planning changes
8 April 2011
Communities secretary Eric Pickles has today launched a consultation to scrap the requirement for planning consents to convert offices into residential property.
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Three shortlisted for Athletes' Village
6 April 2011
Delancey and Qatari Diar, Hutchison Whampoa, and Wellcome Trust have been shortlisted by the Olympic Delivery Authority to buy and manage the £500m Olympic Village in East London.
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Manchester development doubles, says DJD Crane Survey
5 April 2011
The number of new development schemes in Manchester has more than doubled in the past year, according to Drivers Jonas Deloitte’s Manchester Crane Survey, which was published today.
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McInerney Homes UK arm in administration
4 April 2011
The UK arm of Irish housebuilder McInerney Homes has today been placed into administration, after it failed to | convince a high court judge in January of a rescue plan for its insolvent development businesses.
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Menta submits Cherry Orchard Road planning in Croydon
4 April 2011
Urban regeneration company Menta has submitted a planning application to the London Borough of Croydon for 750,000 sq ft of development on its East Croydon station site.
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Qatari Diar invests in $700m Washington scheme
4 April 2011
Barwa Bank’s investment banking subsidiary, The First Investor, has raised 100% financing to fund development of a 700,000 sq ft mixed-use scheme in Washington DC, with Qatari Diar as the anchor investor.
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Asda to take 38,000 sq ft at Leeds’ Mint
4 April 2011
Supermarket giant Asda is under offer to take 38,000 sq ft of overflow space at the Mint in Leeds in what would be the biggest leasing deal in the city this year.
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Interserve’s Buckingham Palace contract extended
4 April 2011
Interserve has won a £108m two-year extension from Defence Infrastructure to look after estates in London including Buckingham Palace and St James’s Palace.
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RDAs’ £500m assets go up for sale
4 April 2011
The government has rejected calls to transfer regional development agencies’ assets to the ownership of local authorities and will sell them instead.
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Etalon indicates IPO pricing
4 April 2011
Russian residential developer Etalon Group has today announced the indicative price range for its initial public offering on the London Stock Exchange, which was announced on 23 March.
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Bruntwood’s City House plans unveiled
30 March 2011
Bruntwood has revealed its redevelopment plans for City House above the train station in Leeds city centre
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Boultbee buys £18.5m industrial portfolio
30 March 2011
Boultbee has bought a portfolio of six industrial properties from DTZ for £18.5m, reflecting an initial yield of 8.8%.
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Drivers Jonas Deloitte to sell 6 acres in Leeds
30 March 2011
Chemicals manufacturer Rhodia has appointed Drivers Jonas Deloitte to sell Wortley Low Mills, a chemicals plant in Leeds.
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Scottish Widows and Cushman raise €100m for European retail fund
30 March 2011
Scottish Widows Investment Partnership (SWIP) and Cushman & Wakefield Investors have secured €100m of equity from three European institutional investors at the first close of their Urban Retail Fund.
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Spurs seeks judicial review of Olympic stadium decision
30 March 2011
Tottenham Hotspur has called for a judicial review of the Olympic Park Legacy Company’s decision not to award it the use of the Olympic stadium after the Games in 2012.
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Peel secures £205m long-term loan from Aviva
30 March 2011
John Whittaker’s Peel Group has today completed a long-term commercial real estate financing with Aviva Commercial Finance.
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Fine Gael to resume Nama loan transfers
30 March 2011
Ireland’s department of finance has told its “bad bank” to continue taking over distressed loans, despite the new Fine Gael government having pledged to review this process.
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Partner sought for Blackburn Markets
30 March 2011
Blackburn with Darwen Borough Council has launched the search for a development partner to develop a retail-led scheme of the 6-acre Blackburn Markets site in Lancashire.
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Two receivership sales at Cannon auction
30 March 2011
Two Nationwide receiverships sales from Cannon Capital’s latest auction have sold for just over £450,000.
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Officers Club administration prompts Blue Inc buy
29 March 2011
Officers Club has gone into administration this afternoon for the second time in just over two years with Blue Inc having swooped to acquire 46 of its stores.
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Ronson – sun will start to shine again in 2014/15
29 March 2011
Gerald Ronson today said that the property market would not fully recover until 2014 at the very earliest – and that investment outside of London would require “luck, bravery and Alka Seltzer”.
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Heron Tower completes
29 March 2011
Heron International has announced it has reached practical completion of the Heron Tower, the tallest building in the City of London.
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Derwent challenge stalls Old Trafford redevelopment
29 March 2011
Legal action being pursued by Derwent Holdings has forced Lancashire County Cricket Club to postpone its AGM and postpone the ground’s redevelopment.
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Regus sues Lloyds over £1m Maxim fit-out
28 March 2011
Serviced office operator Regus is suing Lloyds Banking Group over claims the bank failed to pay for its fit-out at Maxim business park on the outskirts of Glasgow.
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Wheeler and Brixton end employment row
28 March 2011
Brixton and former chief executive Tim Wheeler have ended their row over Wheeler’s exit from the company in early 2009.
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Swallow quits Knight Frank Birmingham
28 March 2011
Knight Frank’s head of Birmingham Mark Swallow has resigned.
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Sale of GVA’s HQ falls through
28 March 2011
The Algerian Embassy has abandoned plans to buy and occupy GVA’s West End HQ at10 Stratton Street for £65m.
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Mount Anvil to redevelop Wandsworth Business Village
28 March 2011
London residential developer Mount Anvil has announced a development agreement with Workspace Group to fund and manage the regeneration of Workspace’s Wandsworth Business Village in south London.
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Co-Op celebrates Manchester Victoria-Piccadilly link
23 March 2011
The Plan for Growth, which was published today alongside the Budget, pledged £200m funding for rail projects, with a central Manchester rail link set to be the first to benefit.
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AUB buys two student accommodation blocks
23 March 2011
Ahli United Bank has bought two student accommodation assets, in London and Leeds, for a total of £38m.
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BUDGET 2011: Government to step up public land sales
23 March 2011
The government has announced plans to accelerate release of public sector land for use as housing, including testing out a “build now, pay later” scheme.
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BUDGET 2011: Councils to retrospectively cut section 106 payments
23 March 2011
The government has called on local authorities to retrospectively reduce infrastructure payments where they are holding back stalled schemes.
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NBCUniversal completes Central St Giles deal
23 March 2011
NBCUniversal International last night completed its deal to take 112,000 sq ft of space at Legal & General Property and Mitsubishi Estate Company’s Central Saint Giles development in London’s West End.
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Targetfollow reshuffles senior staff
23 March 2011
Targetfollow’s asset management group have appointed new property and finance directors.
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Russian resi developer plans $500m London float
23 March 2011
A Russian residential developer is planning a $500m initial public offering on the London Stock Exchange.
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Grainger pays £15m for last 50% of GenInvest JV
22 March 2011
Listed landlord Grainger has bought Genesis Housing Group’s 50% share in Grainger GenInvest Partnerships, a central London residential joint venture that owns 1,630 homes.
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CBRE Hotels wins 826-room US instruction
22 March 2011
CBRE Hotels has been appointed to sell or recapitalise the Willow Hotels portfolio, which includes the Shoreham, Mansfield and Franklin Hotels in Manhattan, New York.
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Croydon regen chief quits
22 March 2011
Croydon Council’s executive director of planning, regeneration and conservation, Emma Peters, is leaving the council to move into the private sector.
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DevSecs buys in Woking
22 March 2011
Development Securities today said it had acquired an office property, Elizabeth House and The Cornerstone, in Woking for £6.55 million, yielding 6.8 per cent.
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£371m fund terminates Invista contract
22 March 2011
A listed property fund with assets of £371m has terminated its management contract with Invista Real Estate, the second fund to do so in less than a week.
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Corestate buys €85m distressed German residential portfolio
22 March 2011
Switzerland-based private equity firm Corestate has bought a portfolio of 153 residential assets located in the Rhine Ruhr region of Germany valued at €85 million.
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Grainger green light for 2,550 Hampshire homes
21 March 2011
Grainger has been granted planning permission for Newlands, a 211 hectare mixed-use development at Waterlooville in Hampshire, by a joint committee of Winchester City Council and Havant Borough Council.
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Wainbridge buys £39m office trio
21 March 2011
Property company Wainbridge has bought three office assets in Central London, Croydon and Bristol, for £39m.
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Haxted and DevSecs buy £5m Sandbanks resi development site
21 March 2011
Haxted Estates, in partnership with Development Securities, has bought a waterside property in the prime residential location of Sandbanks, Poole, for the development of four luxury apartments.
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Cerberus completes Maxim deal
17 March 2011
The restructuring of a 1m sq ft Maxim business park on the outskirts of Glasgow has been completed.
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IPD: residential underperformed commercial in 2010
16 March 2011
Residential property underperformed the commercial market for the first time in four years last year.
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Tchenguiz wins right to bring Kaupthing lawsuit in UK
16 March 2011
Vincent Tchenguiz’s Consensus Group today won the right for a £1bn lawsuit against Icelandic bank Kaupthing to be heard in the UK.
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Intercontinental Hotels CEO steps down
16 March 2011
InterContinental Hotels, the world’s largest hotel operator by number of rooms, has announced that its chief executive Andrew Cosslett will step down at the end of June.
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Orchard Street in £13.4m St Albans sale
16 March 2011
Orchard Street Investment Management has sold two office properties at Centrium Business Park in St Albans to ING REIM.
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CapCo’s Earls Court consultation launched
16 March 2011
The masterplan for Capital & Counties’ 77-acre Earls Court scheme has been published for consultation, setting out a vision to create four villages and a high street on the Earls Court site, as unveiled in Property Week (04.03.11)
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Losing bidder appeals Newham casino decision
15 March 2011
One of the bidders which lost out to Aspers and Westfield Stratford City in becoming the UK’s first large casino is going to appeal Newham council’s decision.
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Treasury submits Battersea public park plans
14 March 2011
Treasury Holdings has submitted plans to Wandsworth Borough Council to create a landscaped park between Battersea Power Station and the river Thames, which would be accessible to the general public from July 2011.
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Overflowing Google ponders King’s Cross move
14 March 2011
Google has taken a further 40,000 sq ft of overflow space at 123 Buckingham Palace Road, and is in talks with King’s Cross Central developer Argent to take up to 700,000 sq ft at the north-central London scheme.
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Barberry submits Coventry Royal Mail plans
14 March 2011
Barberry Developments has submitted plans to turn the former Royal Mail sorting office in Coventry into a 400,000 sq ft retail-led mixed-use development.
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JJB looks for £65m working capital
14 March 2011
JJB Sports plans to raise £65m from a new share placing, the retailer said in a stock exchange statement today.
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NewRiver sells £10m of assets
14 March 2011
NewRiver Retail has exchanged contracts to sell Princess House in Shrewsbury to Rockspring, for £9.6m, reflecting a net initial yield of 7.2%.
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Southern Cross starts “radical” dialogue with landlords
14 March 2011
Care home operator Southern Cross today announced the appointment of KPMG to advise on its negotiations with landlords and banks, as its share price tumbled by 8.17%.
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Croydon unveils transport revamp plans
8 March 2011
Croydon council has signed a funding agreement with Network Rail to deliver a new entrance to East Croydon station, and a footbridge to connect the station to the town centre.
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CapCo in Covent Garden property swap
04 March 2011
Co Operative Insurance has sold 1-3 Henrietta Street / 22 Southampton Street in London’s West End to Capital & Counties, in a property swap that sees CapCo bolster its presence in Covent Garden.
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Tamar posts slight NAV growth
04 March 2011
Investment company Tamar European Industrial Fund has today reported a 1.2% increase in net asset value in its full-year results.
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Government approves West Ham Olympic stadium bid
3 March 2011
The government and the mayor of London Boris Johnson have approved the recommendation of the Olympic Park Legacy Company to make West Ham and the London Borough of Newham the preferred bidder for the future use of the Olympic stadium.
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Allianz signs €470m logistics jv with AMB
3 March 2011
AMB Property Corporation has formed a €470m joint venture with Allianz Real Estate to buy logistics properties at major transport hubs in Europe.
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Coull and Higgins hired for government property panel
3 March 2011
Property big-hitters including outgoing Segro chief Ian Coull, former Lend Lease chief David Higgins, and ex-Lehman Brothers managing director Gerald Parkes have been appointed to a new property advisory panel to scrutinise the work of the Government Property Unit.
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Evans Randall completes 60 Gracechurch Street sale
2 March 2011
Evans Randall has completed the sale of 60 Gracechurch Street to a German limited partnership fund established by KGAL for around £120m.
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Goodman wins 1.2m sq ft German Amazon shed deal
2 March 2011
Goodman Group is to develop a 1.2m sq ft shed for Amazon in Rheinberg, Germany.
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Former JLL senior partner Noel Taylor dies
2 March 2011
Noel Taylor, the former senior partner of Jones Lang LaSalle, has died at the age of 91.
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Aberdeen wins €300m Swedish portfolio mandate
2 March 2011
Aberdeen Asset Management has been appointed to manage a €300 property portfolio in Sweden on behalf of Danish company Provinsfastigheter.
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Cross-border deals jump by 60%
2 March 2011
Global cross border investment increased by 60% year-on-year in 2010, accounting for 40% of all commercial property deals, according to new research by Jones Lang LaSalle.
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Unite adopts new London student housing focus
2 March 2011
Unite Group, the student accommodation company, is to change its business model, by focusing on London and retaining ownership of its developments.
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St Modwen JV gets Wolverhampton Goodyear consent
2 March 2011
A joint venture between St Modwen and Persimmon has secured planning permission for a £50m residential development in Wolverhampton.
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Westfield unveils images of first Stratford offices
1 March 2011
Westfield has completed the first 130,000 sq ft office building in its 1.1 million sq ft office development at Westfield Stratford City.
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TIAA-CREF buys half of Google’s London HQ
1 March 2011
The US teachers’ pension fund has been confirmed as the buyer of Henderson Global Investors’ 50% stake in Google’s London HQ, as revealed by Property Week (03.12.10).
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Sunderland council buys Vaux brewery site for £22m
1 March 2011
Sunderland City Council, regional development agency One North East and the Homes and Communities Agency (HCA) have bought the 26-acre former Vaux brewery site from Tesco, ending a 10-year row over the site’s future.
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DJD delivers Manchester ITV studios masterplan
1 March 2011
Drivers Jonas Deloitte has advised on a masterplan to regenerate Manchester’s Water Street area with the creation of a mixed-use scheme surrounding the site of the former Coronation Street set.
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DevSecs cautious as market still lacks “clarity”
1 March 2011
Development Securities today issued a cautious statement on the outlook for the property sector, alongside its results for 2010.
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Safestore appoints new chief executive
1 March 2011
Peter Gowers has today taken over as chief executive of listed self-storage business Safestore following the retirement of Steve Williams.
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HMV in talks with lenders after profit warning
1 March 2011
Retailer HMV said in a trading update today that it was in talks with its lenders to avoid breaching debt covenants at the end of the financial year.
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Countrywide buys north-east agency
28 February 2011
Countrywide has bought north-east residential lettings agent Property Quarters, which operates offices out of North Shields and Whitly Bay.
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Henderson buys £33m Cambridge retail asset
28 February 2011
Henderson Global Investors has bought Christ’s Lane, a high street asset in Cambridge, from Land Securities for £33.16m, representing a 5.25% net initial yield.
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Tesco agrees £170m Chinese shopping centre JV
28 February 2011
Supermarket giant Tesco has signed an agreement to set up a joint venture to develop shopping centres in China.
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Prism shines on £300m Edinburgh scheme
25 February 2011
Canadian development company Prism is understood to be on the brink of agreeing to unlock Edinburgh’s biggest stalled development site, the 9-acre Caltongate scheme in the city centre.
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Lucidus signs at 55 New Bond Street
23 February 2011
Hedge Fund manager Lucidus Capital has leased the third floor of Fenwick’s 55 New Bond Street.
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Apple takes last floor at 1 Hanover St
23 February 2011
Apple has taken the 26,750 sq ft fourth floor at 1 Hanover Street in London’s West End, bringing the technology giant’s total occupancy at the property to more than 50,000 sq ft.
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Virgin Money opens Edinburgh HQ
23 February 2011
Virgin Money has taken the lease at 28 St Andrew Square, a 30,000 sq ft building in Edinburgh, to use as its new headquarters in what has been reported as the biggest city centre deal in Edinburgh since 2009.
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CapCo in Far East talks over Earls Court funding
23 February 2011
Capital & Counties is in early stage talks with Asian investors to get funding for the largest prime residential scheme in west London.
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MirLand refinances $43m of debt
23 February 2011
MirLand, the listed Russian developer, has refinanced two loan facilities totalling $43.1m.
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Capital Shopping Centres reports solid annual results
23 February 2011
Capital Shopping Centres increased its net asset value by 15% last year.
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DE&J Levy hires Capita Symonds West End guru
22 February 2011
DE&J Levy has paoched Patrick Ryan from Capita Symonds as a salaried partner to specialise in occupier agency in London’s West End.
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St. Modwen gets go-ahead for Swansea science park
22 February 2011
St. Modwen Properties has been granted outline planning permission for the Bay Science and Innovation Campus for Swansea University, which is situated at a former BP storage site on the outskirts of Swansea.
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Lothbury completes £50m of deals
22 February 2011
Lothbury Investment Management has confirmed that it has bought a £23.35m redevelopment opportunity in London’s West End, originally tipped by Property Week (14.01.11), as it announces completion of three deals worth £50m this year.
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David Wilson buys former nuclear site in Oxfordshire
22 February 2011
David Wilson Homes has bought a 15ha brownfield site next to a science park in Oxfordshire for the development of 275 homes.
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Standard Life sues Topland over 2003 Holborn deal
21 February 2011
Investment company Topland is being sued over the £58m purchase of a Holborn property in 2003, because the vendor Standard Life alleges that Topland failed to disclose details of negotiations with the tenant while the deal was being done.
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Henderson in £70m King’s Cross P&O tie-up
21 February 2011
Henderson Global Investors has entered into a joint venture with Istithmar P&O Estates to develop the £70m final phase of its Regent Quarter scheme on York Way, next to King’s Cross station in London.
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Westfield plans White City extension
18 February 2011
Westfield has revealed it is looking to submit a planning application for the extension of its Westfield London shopping centre in White City later this year.
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LDA completes Berkeley Royal Arsenal land sales
16 February 2011
The London Development Agency has sold the remaining land around the £1.5bn Royal Arsenal site in London to its development partner, Berkeley Homes.
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NAO questions government’s Olympic legacy hopes
16 February 2011
Delivering a successful Olympic Games in 2012 could mean the government’s legacy ambitions for East London will suffer, the National Audit Office has warned today.
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Helical life “far from dull”
16 February 2011
Life at listed development company Helical Bar is “far from dull”, chief executive Mike Slade said today, as it confirmed shopping centre acquisitions of £34m.
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Snow business at the Olympic media centre
15 February 2011
Artificial snow centre company Acer Snowmec has made a bid to turn the £330m Olympic media centre into an indoor ski resort after the Games.
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Surrey Canal regeneration submitted for planning
14 February 2011
Regeneration company Renewal has lodged plans for the redevelopment of a 30-acre site around Millwall’s New Den stadium.
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Hazledene completes Scots record rent deal
14 February 2011
The 125,000 sq ft ‘IQ’ building in Aberdeen has been fully let to two tenants, as revealed by Property Week (27.01.11), in a deal that sets a record rent for Scotland of £31 / sq ft.
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Boris call for clarity on 1.9m sq ft Chelsea Barracks plan
14 February 2011
The mayor of London’s office has demanded minor changes to Qatari Diar’s outline plans for the redevelopment of the Chelsea Barracks.
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West Ham leads Olympic stadium race
10 February 2011
West Ham has emerged as the front runner to relocate its football ground to the Olympic stadium after the Games in 2012, according to reports.
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Hammersmith & Fulham council confirms eight property sales
9 February 2011
Hammersmith & Fulham Borough Council has approved plans, first revealed by Property Week (07.01.11), to sell eight council buildings in a bid to reduce its historic £133m debt.
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Tesco completes £685m sale-and-leaseback deal
9 February 2011
Tesco has completed a new sale and leaseback transaction in the latest phase of its ongoing programme to release value from its UK property portfolio.
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Green light for "Large Casino” in Hull
9 February 2011
Hull City Council has approved plans for the development of a £100m casino-led leisure and entertainment scheme on the River Hull.
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Sainsbury’s pulls out of King’s Cross move
9 February 2011
Developers behind the £2bn King’s Cross Central scheme today confirmed that they are re-marketing a 250,000 sq ft office site originally set aside for a new Sainsbury’s HQ, as first tipped by Property Week (5.11.10).
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Oak asks investors to say Yes!
9 February 2011
AIM-listed property company Oak Holdings is trying to raise new equity, two weeks after Rotherham council withdrew its support for the £350m Yes! “entertainment resort” in Rotherham.
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Quintain continues fund management progress
9 February 2011
Quintain said this morning it was on track to hit its targest of £1.25bn of funds under management by the year end.
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Heavy-hitters make the cut for Oxford homes development
8 February 2011
Oxford City Council has announced a shortlist of four high-profile property companies that could be picked to build up to 1,000 homes in Barton.
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New Spurs stadium images unveiled
8 February 2011
Tottenham Hotspur today released an image of the proposed 60,000 capacity football stadium that it would develop in place of the Olympic Stadium in East London.
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Man Utd in talks for Mayfair expansion space
8 February 2011
Manchester United FC is taking a lease at 5 Stratton Street in London’s Mayfair, London, as it expands its commercial operations beyond existing offices in St James’s.
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Boris launches plans to widen Olympic legacy area
8 February 2011
Plans to merge the Olympic Park Legacy Company with the Mayor of London’s office and expand its remit beyond the Queen Elizabeth Olympic Park have been published for consultation this week.
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Selbourne signs two Altrincham office occupiers
8 February 2011
Cheshire-based property company Selbourne Group has signed new office occupiers at two of its properties in Altrincham.
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DJD to search for new Bank of England City office
4 February 2011
Drivers Jonas Deloitte has been appointed by The Bank of England to search for new office space near its Threadneedle Street HQ that would house a successor body to the Financial Services Authority.
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Regional rents in recession, says DJD research
4 February 2011
Office rents dropped across every major regional city but Manchester in 2010, cementing the property gap between London and the rest of the country, research by Driver Jonas Deloitte has shown.
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Barratt’s Basildon plans submitted
2 February 2011
Barratt Wilson Bowden, the commercial development arm of Barratt Homes, has submitted plans for the £1bn regeneration of Basildon town centre in Essex.
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Q-Park wins Westminster car park mandate
1 February 2011
Westminster City Council has granted the leases on 14 of its car parks to Q-Park, which will operate them and invest £10m in their refurbishment.
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Deloitte takes High Holburn business centre space
1 February 2011
Deloitte has agreed to take 9,000 sq ft of space at Orega’s High Holborn business centre in London, three months after the centre’s opening.
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3,205 new London homes stalled
1 February 2011
Up to 3,205 homes in London are on hold until development finance can be secured, according to research published today by CB Richard Ellis.
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Record rent at Aberdeen’s IQ building
27 January 2011
The 125,000 sq ft ‘IQ’ building in Aberdeen is on the brink of being fully let to two tenants, in a deal that would set a record rent for Scotland of £31 / sq ft.
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Post-Olympic operators sought for Aquatics Centre and Multi-Use Arena
26 January 2011
The Olympic Park Legacy Company has today begun its search for operators of the Aquatics Centre and Multi-Use Arena.
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Council terminates Oak's £350m Rotherham YES scheme
24 January 2011
Rotherham Borough Council has terminated its agreement to allow the AIM-listed Oak Holdings to develop a £350m leisure resort next to the Rother Valley Country Park in South Yorkshire.
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London investment up 50% in 2010
24 January 2011
Investment transactions in the West End rose 115% in 2010 compared with the previous year, according to new figures.
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Barclay brothers take Claridge’s stake
24 January 2011
Sir David and Sir Frederick Barclay are understood to have bought a quarter stake in Maybourne Hotel Group, which owns the Berkeley, Claridge’s and the Connaught in London.
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Crown Estate buys £34m SW1 lease
19 January 2011
Invista Real Estate Investment Management has sold the 73-year leasehold interest in 10 Spring Gardens in London’s St James’s to the Crown Estate, which owns the freehold, for £34m. The sale reflects a yield of 6.7%.
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Property Alliance Group hires former Tesco exec
19 January 2011
Manchester-based developer Property Alliance Group has appointed former Tesco executive John Clarke to lead its retail and leisure development in the north-west.
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Boris nod for student housing at King’s Cross
18 January 2011
London mayor Boris Johnson has granted planning permission for 657 beds of student accommodation at the King’s Cross Central development in London.
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Invesco completes £17m Bromley buy
18 January 2011
Investment manager Invesco Real Estate has completed its first purchase for its third UK fund. It has bought a 104,026 sq ft retail property in Bromley, south-east London for £17.05m.
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Galliard Homes reveals Chiltern Street Car Park plans
17 January 2011
Plans for the residential redevelopment of London’s Chiltern Street Car Park have been unveiled, after an application was submitted to Westminster City Council.
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Boris to impose £300m infrastructure tax
17 January 2011
London mayor Boris Johnson is to impose a community infrastructure levy on development in the capital in a bid to raise up to £300m.
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CBRE in €1bn ING talks
17 January 2011
CB Richard Ellis is the final party remaining in talks to buy ING Real Estate Investment Management, the world’s largest property fund manager.
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BBC to let vacant White City space as “creative campus”
17 January 2011
Developer TCN has partnered with the BBC to turn a 60,000 sq ft building in White City in west London into a workspace for creative industries.
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Blackmore buys Hilton hotel at Exeter Airport
14 January 2011
Blackmore Capital had made its second investment for its Branded Commercial Opportunities Fund, buying the Hampton by Hilton hotel at Exeter Airport.
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Glasgow takes plunge on £30m floating village plan
12 January 2011
Manchester-based developer Floating Concepts has been picked as the preferred bidder to develop a £30m floating village at Pacific Quay in Glasgow.
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CapCo faces "localist" stumbling block
12 January 2011
Capital & Counties has hit a fresh planning hurdle in its proposed 67-acre redevelopment of the Earl’s Court area in west London.
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Barratt to launch parent loan scheme
12 January 2011
House builder Barratt has teamed up with Hitachi Capital to offer £50,000 loans to parents wanting to buy Barratt homes for their children.
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Council green light for Bradford science park
11 January 2011
Plans for a 170,000 sq ft science and technology park in Baildon, Bradford have been given outline planning permission by Bradford Council.
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Central London take-up rises 37%
11 January 2011
Central London take-up increased by 37% in 2010, according to year-end figures released today by Capita Symonds.
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Azure sells last petrol station in £200m portfolio
10 January 2011
Azure Property, the joint venture between Palmer Capital and RREEF Alternative Investments, has sold the last property in its 104 petrol station portfolio bought in 2005.
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Gilbertson set for Knight Frank role after PwC exit
4 January 2011
Barry Gilbertson is set to retire as a partner at accountancy firm PwC and take up a non-executive role at property agency Knight Frank.
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Council picks up Targetfollow’s £100m Stockport development site
22 December 2010
Stockport Council is set to buy the Grand Central leisure complex in Greater Manchester from the collapsed subsidiaries of property company Targetfollow, under plans to attract £100m of private money for its redevelopment.
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Hermes cancels Bluewater stake sale
22 December 2010
Hermes Real Estate has unexpectedly cancelled the sale of its sale of a 7.5% stake in the Bluewater shopping centre in Kent, propertyweek.com can reveal.
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Nama picks up €70bn of property loans
21 December 2010
Ireland’s National Asset Management Agency confirmed last night that it had taken on 11,000 loans worth €70bn from Ireland’s biggest property companies.
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JP Morgan also buys 60 Victoria Embankment
20 December 2010
JP Morgan has bought 60 Victoria Embankment in the City, an office that was once valued at £350m.
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Intermediate Capital Group snaps up stake in debt specialist Longbow
17 December 2010
FTSE 250-listed mezzanine finance company Intermediate Capital Group today announced it had bought a majority stake specialist property debt firm Longbow Real Estate Capital.
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MEPC kickstarts £470m refinancing
15 December 2010
Business park developer MEPC today said it will paydown £102m of its £470m of securitised debt, as the first stage of a wider refinancing.
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Cannon Estates buys Gucci HQ
15 December 2010
Cannon Estates has exchanged contracts on the £18m purchase of 4 Grafton Street, the Grade 1 listed Gucci headquarters.
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Great Portland unlocks 86,000 sq ft refurb
15 December 2010
Great Portland Estates is to surrender seven leases held by Telewest UK at 160 Great Portland Street, London, to allow it to undertake a major upgrade of the property.
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Hammerson completes £557m Bishops Square disposal
15 December 2010
Hammerson today announced the completion of the sale of its Bishops Square office building in the City, owned in a 25:75 joint venture with the state of Oman, to JP Morgan Asset Management for £557m.
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Exane takes 43,000sq ft at 1 Hanover Street
14 December 2010
BNP Paribas subsidiary Exane has taken 43,000 sq ft at 1 Hanover in London’s Mayfair at £70 / sq ft, as tipped by Property Week (22.10.10).
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Raymond Blanc cooks up first north-west restaurant
14 December 2010
Celebrity chef Raymond Blanc has confirmed plans to open a restaurant at Neptune Developments’ Mann Island in Liverpool city centre.
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53-59 Chandos Place sold for £17m
13 December 2010
A 19,500 sq ft office block in the West End has been sold to a private French investor for £17.3m.
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Henderson Global Investors acquires FedEx distribution unit in Newcastle Under Lyme
13 December 2010
Henderson Global Investors has bought a 103,000 sq ft distribution unit from a private investor for £6.34m.
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HOOPP links together with Crown
13 December 2010
The Crown Estate has sold a 50% stake in its £100m St James’s Gateway development in London’s West End to HOOPP, a Canadian pension fund.
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Wandsworth rejects Tooting hospital scheme
8 December 2010
Wandsworth borough council has rejected plans for a mixed-use development at Springfield Hospital in Tooting, London.
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OPLC appoints six agents
7 December 2010
The Olympic Park Legacy Company (OPLC) has appointed a panel of consultants to provide ad hoc property advice as it decides how to use the Olympic site after the Games in 2012.
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L&G sells Walbrook Square leasehold to Bloomberg for new HQ
6 December 2010
Legal & General today confirmed that it has sold a long-leasehold interest on its Walbrook Square development scheme to media company Bloomberg, which will develop a 500,000 sq ft headquarters on the City site.
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Highcross pays £16.3m for Silverburn House in Aberdeen
6 December 2010
Highcross has bought Silverburn House in Aberdeen for £16.27m. The deal reflects an initial yield of 10.03%, rising to 11.08% in 2012.
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Great Portland buys £40m St James’s Street office
6 December 2010
Great Portland Estates has placed 20 St James’s Street in London’s West End under offer for around £40m, PropertyWeek.com can reveal.
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BNP Paribas Real Estate buys site at King's Cross Central
3 December 2010
BNP Paribas Real Estate will launch its continental development business in the UK after having acquired a development site at Argent’s King’s Cross Central scheme, as first tipped by Property Week (05.11.10).
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Gerald Eve in West End move
1 December 2010
Gerald Eve has relocated its West End headquarters to Welbeck Street in London.
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USS buys Savoy Court for £45m
30 November 2010
Redevco has sold Savoy Court, an office block in London’s West End, to the Universities Superannuation Scheme (USS) for £45m, representing an initial yield of 6.25%.
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Pickles approves £4.5bn Wirral Waters scheme
30 November 2010
Wirral Waters, Peel’s £4.5bn regeneration scheme in Merseyside, has been granted final planning approval by the secretary of state.
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Unite transfers £144m of student housing to fund
29 November 2010
Student accommodation developer Unite has sold £144m of assets into its UK Student Accommodation Fund.
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Bob Neill: £517m for Olympic legacy
26 November 2010
Local government minister Bob Neill yesterday confirmed plans to provide up to £217m for the Olympic Park Legacy Company as part of a bigger package of funding designed to secure the Olympic legacy.
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Large UK REITs losing relevance and risk being swallowed up
25 November 2010
The large UK REIT sector is losing relevance compared to other sectors of the stock market, the IPF/IPD conference I Brighton heard today.
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IPF/IPD Conference: Bankers and borrowers need better understanding, conference hears
25 November 2010
Lenders and borrowers need to gain a greater understanding of how each others business works if the property sector is going to return to growth, the IPF/IPD conference in Brighton heard this morning.
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Emirates REIT eyes London listing
25 November 2010
A new REIT was established Dubai this week, and is likely to list in London within the next 18 months.
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Curtis to manage Grosvenor Liverpool Fund
24 November 2010
Grosvenor has appointed Sarah-Jane Curtis as fund manager of the Grosvenor Liverpool Fund.
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Quintain to help build Portuguese “tech city”
24 November 2010
Quintain has agreed to provide property advice to Living PlanIT, an urban technology company that is looking to develop a 1,700ha city at in the north of Portugal.
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Green light for Preston's £700m Tithebarn scheme
23 November 2010
A £700m mixed-use regeneration scheme in Preston, proposed by Lend Lease, has been approved by the secretary of state after a planning inquiry.
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Reuben brothers unwrap “Cucumber”
22 November 2010
The Reuben brothers are this week set to submit a revised planning application for a proposed 42-storey tower in Westminster.
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New London development starts down, DJD says
22 November 2010
Despite the perception of a boom in development in London, new starts were down 52% compared to six months ago, the latest Drivers Jonas Deloitte crane survey showed.
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Investec drafts in Urban Splash in Brighton
19 November 2010
Investec has teamed up with developer Urban Splash on the workout of a Brighton development loan.
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Heron Tower secures Landmark as second tenant
19 November 2010
Serviced office provider Landmark is under offer to take 36,000 sq ft at the Heron Tower in the City, and is set to pay the highest City rent this year.
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West Ham kicks off Upton Park developer search
19 November 2010
West Ham United Football Club has kicked off the search for a developer for the historic Upton Park Stadium in Newham, London.
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One Blackfriars to be brought to market in new year
16 November 2010
The administrators to a London development site formerly owned by Beetham Organization and Russian developer Mirax, is to be brought to market in the new year.
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Green light for Aberdeen public property joint venture
10 November 2010
Aberdeen City Council has agreed to set up a city development company into which it will transfer publicly-owned assets for redevelopment.
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Great Portland shines with 11% NAV growth
10 November 2010
Great Portland Estates this morning revealed a very strong set of half-year results and a step-up in its development programme.
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Union buys Glasgow’s Equinox building
10 November 2010
Union Investment has acquired the Equinox Building in Glasgow for its open-ended real estate fund UniImmo: Deutschland.
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Tice appointed CEO of CLS Holdings
10 November 2010
Richard Tice is to become CEO of European secondary office investor CLS Holdings at the beginning of next year.
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UPP completes £24m Kent student investment deal
5 November 2010
UPP has completed a £24m transaction with the University of Kent to build a new student accommodation facility.
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Administrators poised in City
05 November 2010
One of the largest development sites in the City of London is on the brink of going into administration, Property Week has learnt
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Westfield submits plans for Broadmarsh
4 November 2010
Westfield has submitted plans to Nottingham City Council for the re-configuration of the Drury Walk entrance of the Broadmarsh shopping centre. The move is the latest in a series of improvements to the Nottingham shopping centre.
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Evans Randall completes Drapers Gardens buy
4 November 2010
Evans Randall yesterday completed the £242.5m purchase of the Drapers Gardens office complex in the City of London.
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Wereldhave set for return to UK retail with £80m Poole buy
3 November 2010
Dutch property investment company Wereldhave has emerged as front runner to buy Grosvenor’s Dolphin shopping centre in Poole for more than the £80m asking price.
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CLS to expand in Munich
28 October 2010
CLS is to develop 17,674 sq ft of space at its office and light industrial property, Gräfelfing, in Munich.
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Government to legislate for tax increment finance
28 October 2010
The government will introduce new primary legislation to implement tax increment financing (TIF), allowing local authorities to kick start developments by borrowing against future business rate increases.
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Edgley to leave JLL for Brockton
28 October 2010
Jones Lang LaSalle head of corporate finance Tony Edgley is to leave the firm at the end of the year to join private equity fund manager Brockton Capital.
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UK property industry faces financing "black hole"
28 October 2010
The Scottish Property Federation (SPF) is due to warn later today that the UK property industry faces a financing “black hole”.
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Leisure developer sought for 126 acre Lee Valley site
25 October 2010
The Lee Valley Regional Park Authority has begun the search for a developer to lead the redevelopment of a 126 acre leisure complex in Edmonton, London.
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Carlyle agrees BSI Tower sale
22 October 2010
Carlyle Group is making its first disposal from the £670m Thames portfolio, by selling the BSI Tower in Chiswick to US private equity investor Harbert and developer and asset manager Canmoor
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Central St Giles leads West End lettings leap
22 October 2010
The West End office market has enjoyed a surge in lettings, as deals are agreed at some of London’s most prominent properties, lead by the newly completed Central St Giles
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Lloyds’ new £600m hit
22 October 2010
The catastrophic losses incurred by HBOS from its equity investments in commercial property were laid bare this week, as it emerged that the company wrote off almost £600m of the value of its main property co-investment vehicle last year.
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First Cadbury Cocoa House opens at Bluewater
21 October 2010
The first Cadbury’s themed café opened at the Bluewater shopping centre this week, as sales at the centre continued to grow.
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Defence ministry axes £12bn St Athan training base
19 October 2010
The Ministry of Defence (MoD) has terminated plans to rationalise its training facilities into a single base at St Athan in the Vale of Glamorgan in Wales.
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Cameron: Departments should pay property vehicles market rent
19 October 2010
New property vehicles to own and manage the government office estate should charge departments “market rent”, prime minister David Cameron has said.
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Hatfield Philips warns on LTV foreclosures
19 October 2010
Debt servicer Hatfield Philips today said that breaches of loan to value covenant should rarely form the basis for a decision for lenders to foreclose on a loan.
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DJ Deloitte poaches DTZ’s Simon Williams
19 October 2010
DJ Deloitte has recruited former DTZ and Donaldsons partner Simon Williams as a partner in its capital markets team heading up retail investment and central government procurement.
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Property big hitters back Osborne’s cuts
18 October 2010
Companies including Max Property and Hammersonhave given public backing to the £83bn cuts due to be announced by chancellor George Osborne on Wednesday.
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Goldman’s £107m hotel deadline
15 October 2010
Pressure was mounting this week from creditors on Goldman Sachs’ Whitehall Street fund management arm ahead of refinancing a £230m hotel portfolio.
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Global property equity rises 22%, DTZ says
13 October 2010
The amount of equity targeting the property sector across the globe has risen sharply in 2010, but investors are cool on Europe, a new report said this week.
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Green report blasts government’s handling of properties
11 October 2010
The government must overhaul how it deals with its properties as it is impossible to make savings using the current processes, Topshop founder Sir Philip Green has said in his efficiency report.
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Sir Philip Green to slam public property waste
11 October 2010
The government is failing to get value for money from its property and other contracts and could do better by centralising procurement, according to a review by Topshop founder Sir Philip Green.
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Craigmillar library and council office gets go-ahead
8 October 2010
Edinburgh Council has approved plans for new 48,000 sq ft East Neighbourhood office and library in Craigmillar.
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Peabody accepted by Crown for key worker estates
7 October 2010
The Peabody Trust is the frontrunner to buy four key worker estates in London which were put up for sale by the Crown Estate.
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Herrington leaves F&C Reit
7 October 2010
Paul Herrington, head of property asset management at F&C Reit, has left after 22 years at the company in its current and previous forms.
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EXPO REAL: Bailing out Greece will not hurt German property
7 October 2010
German commitments to bail Greece out of its debt crisis will not impact on its domestic property market, Thilo Wagner of Henderson Global Investors said yesterday.
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Advantage West Midlands details £37m cuts
7 October 2010
Regional development agency Advantage West Midlands has today revealed 121 projects that are losing almost £37m of public sector funding in this financial year.
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“Don’t delay” over TIFs, Birmingham chief warns government
6 October 2010
The government must fast-track the introduction of tax increment financing (TIF) to fund new developments, according to the chief executive of Birmingham City Council.
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CBRE in $1.5bn debt refinancing talks
5 October 2010
CB Richard Ellis is in talks about refinancing $1.5bn of debt.
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Hermes Real Estate to sell its 7.5% Bluewater stake
5 October 2010
Hermes Real Estate is to sell its 7.5% stake in Kent mega mall Bluewater.
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Bournemouth begins IMAX compulsory purchase
4 October 2010
Bournemouth Borough Council is implementing a compulsory purchase order to buy the remaining lease on the town’s IMAX building for redevelopment.
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Race for £500m Olympics partner
1 October 2010
The Olympic Delivery Authority (ODA) is today due to launch a global search for a long-term partner willing to invest as much as £500m in the Olympic Village in Stratford, east London.
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Oxford Properties buys UBS’s 50% stake in Watermark Place
1 October 2010
Oxford Properties, the real estate arm of OMERS pension fund, has exercised its pre-emption right to purchase a 50% stake in Watermark Place from UBS.
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LDA tranfers Olympic Park to legacy company
1 October 2010
The London Development Agency has completed a deal that sees 500 acres of land transferred to the Olympic Park Legacy Company (OPLC).
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Scotland approves tax support for Edinburgh Waterfront
29 September 2010
The City of Edinburgh Council has won backing to use tax increment financing (TIF) to support investment worth £84m on the Scottish capital’s waterfront.
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Stoke-on-Trent suspends six regeneration officers
28 September 2010
Stoke-on-Trent City Council has suspended six regeneration officers as part of an inquiry into alleged breaches of contract procedural rules and financial regulations.
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One North East lists threatened projects
27 September 2010
Regional development agency One North East has released a list of projects that will lose out as it makes £32.9m of budgets cuts in 2010-11.
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Public sector cuts will strangle regions for years to come
24 September 2010
In the final part of her series on real estate revival, Angela Jameson predicts the likely impact of public sector cuts on the regions.
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Santander’s £500m Mapeley buyback
24 September 2010
Spanish bank Santander is close to buying from Mapeley a £500m portfolio of properties it occupies. The sale would partially reverse the pioneering outsourcing agreement made in December 2000.
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Deka sells £42m Mayfair property
23 September 2010
A part-vacant Mayfair property in London’s West End has gone under offer for around £42m.
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Shapps beefs up “Right to Build” planning vote
23 September 2010
Housing minister Grant Shapps has strengthened measures that give local people the power to circumvent the planning process if they vote in favour of development.
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Birmingham denies sovereign wealth asset sell-off
22 September 2010
Birmingham City Council has denied claims that it wants to sell assets including the NEC (National Exhibition Centre) to Middle Eastern investors.
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Renaissance Southend URC set to close
21 September 2010
Renaissance Southend has become the latest Urban Regeneration Company to announce that it is set to close.
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Council rejects £120m Gravesend regeneration plan
21 September 2010
Gravesham Borough Council has rejected a planning application for the £120m development of the Heritage Quarter in Gravesend town centre in Kent.
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Clegg: Councils to get TIF powers in spending review
20 September 2010
Deputy prime minister Nick Clegg has announced that local authorities will be given the freedom to borrow against future tax increases in order to fund development.
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Boris calls on banks to support ‘green’ refurbs
20 September 2010
London mayor Boris Johnson has called on banks to help support environmentally friendly refurbishments of buildings in the city.
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Bring back enterprise zones, planners argue
20 September 2010
The government should reintroduce enterprise zones to stimulate development, a planning think-tank said today.
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PWTV: British-Israel Chamber of Commerce Property Forum
17 September 2010
Property heavyweights Nick Leslau, Gerald Ronson, Stephen Hubbard and Tony Gibbon gave their views on the market and its outlook at the British-Israel Chamber of Commerce breakfast this week.
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Apollo hires ex-Lehman chief
17 September 2010
Apollo Global Management has hired the former co-head of Lehman Brothers’ real estate investment business, Raymond Mikulich, to head its US operation.
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Barris leads Merrill real estate MBO
17 September 2010
Peakside Capital to manage two Global Principal Investments funds
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Four Seasons weathers storm
17 September 2010
Four Seasons Health Care, one of the UK’s largest care home operators, has secured an agreement with bondholders over a restructuring £600m of its debt.
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Legal & General eyes Kent mall
17 September 2010
Europa Capital Partners and Scoop AM could sell for £100m at £30m profit
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Quintain announces Wembley outlet
17 September 2010
Quintain has unveiled detailed plans for its London Designer Outlet, which will become the main retail and leisure element of its Wembley City scheme in north-west London.
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REITs ‘destroy’ £24bn of value
17 September 2010
New research lifts the lid on disastrous decade for leading listed property companies.
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Sinclair and Perloff join forces
17 September 2010
Property veterans aim for acquisitions after buying 30% of Lipman shell Leo Insurance
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Two heads at Morgan Stanley
17 September 2010
De Poulpiquet and Klopp to lead investment bank’s real estate arm
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Raft of designer retailers sign up at Spinningfields
15 September 2010
Fashion retailers DKNY, Oliver Sweeney, Mulberry, Flannels, LK Bennett, All Saints and Brooks Brothers have all confirmed they will be joining the recently opened Armani store on The Avenue, Spinningfields in Manchester.
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Duchy of Lancaster selects Greycoat for London development
15 September 2010
The Duchy of Lancaster has appointed Greycoat as development manager for an office building in London’s Strand.
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Tesco charged with building £7m police station
15 September 2010
Tesco has begun construction of a new £7m police station as part of a £200m redevelopment of West Bromwich town centre.
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Axing RDAs will expose council skills gaps, BPF warns
15 September 2010
The British Property Federation has today warned that local authorities lack planning and regeneration skills that will be needed in the wake of regional planning targets and regional development agencies.
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Foxtons founder launches residential investment company
14 September 2010
Jon Hunt, the founder of Foxtons, has launched a new residential property investment company.
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Serviced Office Group opens in Knightsbridge
14 September 2010
Serviced Office Group, an AIM-listed operator of 21 centres, has opened a new office at 1 Knightsbridge Green in London’s West End.
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Redefine refinances shopping centres with Aviva
14 September 2010
Redefine International has refinanced its five shopping centres in the UK with Aviva.
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Dundee's Overgate shopping centre for sale
10 September 2010
Lend Lease is selling its 420,000 sq ft Overgate shopping centre in Dundee.
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Julian Stocks leaves JLL to join Tishman Speyer
10 September 2010
Julian Stocks is to leave Jones Lang LaSalle to join Tishman Speyer as UK managing director.
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Northern homewares retailer signs in Liverpool
10 September 2010
Redbrick, a northern based homewares and interiors retailer, is set to open a new store at the Liverpool One shopping centre.
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Waitrose expands convenience store portfolio
10 September 2010
Waitrose has stepped up its convenience store expansion and is set to open another five stores.
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Assura and AH mull medical merger
10 September 2010
Primary healthcare property company eyes takeover of smaller Plus-listed outfit
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Bank reprieve for Battersea owner REO
10 September 2010
Real Estate Opportunities has refinanced its £262.55m loans secured on Battersea Power Station in south London
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M&M’s store lands in London
10 September 2010
McAleer & Rushe has let its redevelopment of the Swiss Centre in London’s Leicester Square to Mars Retail Group for a M&M’s World store, the first of its kind in Europe
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Mucklow shows industrial strength
10 September 2010
A&J Mucklow, the industrial REIT focused on the Midlands, achieved a 16% increase in its net asset value in the year to 30 June
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Planes, trains and automobiles could yet crush hopes of recovery
10 September 2010
In the second of a series on sectors that are critical to a real estate revival
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Speymill Deutsche ponders takeover
10 September 2010
German residential property investor Speymill Deutsche Immobilien is mulling bid approaches
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Virgin rail boss alights on big idea for Birmingham
10 September 2010
Virgin Trains chief believes Birmingham International could rival Heathrow and Gatwick
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Centrica to energise Oxford property market
9 September 2010
Oxford’s largest letting for six years looks set to go to Centrica at Oxford Business Park.
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Lloyds appoints CBRE to sell Glasgow development site
9 September 2010
CB Richard Ellis has been appointed by Lloyds Banking Group to sell a former retail banking hall on Glasgow’s Queen Street.
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Office availability drops in Midtown, Soho and South Bank
9 September 2010
Office availability rates in London’s Midtown, Soho and the South Bank decreased in the second quarter, putting upward pressure on rents.
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Beales to open in Rochdale
9 September 2010
Department store JE Beale is to open its thirteenth store this month at the former Westgate department store in The Exchange Shopping Centre, Rochdale.
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Valad sells £94.25m Swedish portfolio
9 September 2010
Valad Property Group has sold a portfolio of Swedish commercial properties for £94.25m.
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Miller makes £26.9m half-year loss
9 September 2010
Miller Group made a pre-tax loss of £26.9m in the first half of this year.
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Invesco launches third UK fund for German institutions
9 September 2010
Invesco Real Estate has launched and completed the first closing of its third UK fund for German-speaking institutional investors.
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Green light for Radclyffe Park
9 September 2010
Salford developer LPC Living has secured detailed planning permission for a major mixed-use scheme in Ordsall, Salford.
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CBRE instructed on former Halliwells space at Spinningfields
9 September 2010
CB Richard Ellis has been instructed to let the 175,000 sq ft of office space in Spinningfields, Manchester, previously occupied by the troubled law firm Halliwells.
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Green light for Salford’s Radclyffe Park scheme
8 September 2010
Salford City Council has granted planning consent to LPC Living for a scheme in Ordsall that includes a Travelodge hotel and a 50,000 sq ft Morrisons store.
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Mucklow outperforms peers with strong NAV growth
8 September 2010
A&J Mucklow, the industrial REIT focused on the Midlands, achieved a 16% increase in its net asset value in the year to 30 June.
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Segro poised to drop out of FTSE 100
8 September 2010
Segro is likely to be ejected from the FTSE 100 today in the quarterly review of the index.
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Typhoo Tea factory sold
8 September 2010
The former Typhoo Tea factory in Birmingham has been sold to a private investor for an undisclosed sum.
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Crunch time in Minerva/KiFin boardroom battle
8 September 2010
Shareholders will today decide the outcome of the latest battle between Minerva and its largest shareholder over control of the company.
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McKay secures City letting
8 September 2010
McKay Securities has let 15,000 sq ft at Portsoken House in the City of London to a residential and mixed use managing agent.
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European CMBS loans repaid
7 September 2010
Three of the four European CMBS loans that matured in August were fully repaid.
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Dencora buys business park in Peterborough for £10m
7 September 2010
Dencora has bought the 125,000 sq ft Peterborough Business Park from Invista Real Estate Investment Management for around £10m.
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Coalition receives 56 LEP proposals
7 September 2010
The government has today published a list of the 56 bids it has received from councils wanting to create local enterprise partnerships (LEPs) to take on housing, planning, and regeneration powers.
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Prupim buys further Romford Brewery stake
7 September 2010
Prupim has bought a further 25% stake in the Brewery Romford, following its purchase of 25% in July.
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Dorfman funds Office Group buy-out
7 September 2010
Lloyd Dorfman, Travelex founder and chairman of serviced office firm Esselco, has funded a management buyout of Bridges Ventures’ majority stake in The Office Group for £43.3 million.
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Tenants sign up at Ascot
7 September 2010
Salmon Harvester Properties has secured two tenants at Ascot Business Park in the Thames Valley.
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Segro secures eight deals
7 September 2010
Segro has secured eight industrial pre-lets totalling 473,000 sq ft across the UK and Europe.
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LDA seeks manager for £50m green buildings fund
7 September 2010
The London Development Agency has today launched the search for a fund manager to distribute a £50m fund dedicated to energy efficiency.
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Coca-Cola takes Invista pre-let in Uxbridge
7 September 2010
Invista has secured a 108,884 sq ft pre-let with Coca-Cola Enterprises at New Bakers Court, its Uxbridge town centre office scheme.
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Wapping flats get go ahead
7 September 2010
Architect Hawkins\Brown has secured planning consent for change of use from offices to residential at the Grade II-listed Metropolitan Wharf in Wapping, east London.
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Unison national centre secures funding
7 September 2010
Co-operative Bank and Unity Trust Bank are funding a multi-million pound national centre for Unison, the public sector union, on Euston Road in London.
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CBRE to reach Pinnacle
3 September 2010
CB Richard Ellis has been appointed joint letting agent at Arab Investments the Pinnacle – a proposed 945 ft skyscraper in the City.
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Barnsley council buys Gateway Plaza
2 September 2010
Barnsley Council has bought the mixed-use Gateway Plaza development in the town centre for an estimated £20m, and will occupy 78,000 sq ft of the scheme’s office block.
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British Capital Property makes debut UK purchases
2 September 2010
British Capital Property, a Guernsey based vehicle for South African property investors, has made its first two purchases in the UK.
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EPRA 2010: European property companies pursuing "reactive" capital strategies
2 September 2010
Many European listed property companies are pursuing more reactive than strategic capital budget decisions when acquiring investment properties and undertaking development projects, the first EPRA/Cambridge capital structure survey has revealed.
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EPRA 2010: Real estate equities positioned for "strong expansion"
2 September 2010
The European real estate equities sector is well positioned for a strong expansion over the next few years via acquisitions and initial public offerings (IPOs), leading brokers Kempen & Co have said.
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Greater Manchester Property Venture Fund buys Stockport development site
2 September 2010
The Greater Manchester Property Venture Fund (GMPVF) has bought a former Royal Mail sorting office in Stockport for an undisclosed amount.
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SWIP buys £48m Northern Ireland retail park
2 September 2010
Scottish Widows Investment Partnership (SWIP) has bought a Northern Ireland retail park for £48m.
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Studley Point half-filled with ENER-G
2 September 2010
Folkes Holdings and Trigram Properties have let more than half of their Studley Point office development in Birmingham to ENER-G.
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Leslau's Prestbury hit by non-property writedowns
2 September 2010
Nick Leslau’s Prestbury investment company saw its net asset value drop by £13.5m last year, accounts filed at Companies House this week have shown.
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Century 21 to open second Manhattan store
2 September 2010
US discount department store Century 21 is to open its second Manhattan store.
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Apollo letting fills 50 New Bond Street
2 September 2010
The letting of 50 New Bond Street, in London’s West End, has been completed after Apollo Real Estate agreed to take the last 7,000 sq ft.
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Allianz lets Paris tower
2 September 2010
Allianz Real Estate has let a 330,000 sq ft Parisian tower to France Telecom.
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Europa Capital and St Congar buy 100 acres in Gloucestershire
1 September 2010
The English Residential Land Partnership, Europa Capital and St Congar Land’s residential land vehicle, has bought a 100 acre land site near Brockworth in Gloucestershire.
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Knight Frank Ireland gets Most out of merger
1 September 2010
Knight Frank Ireland has merged with Most Commercial Management in a share-swap deal. The two firms will now operate as Knight Frank Management.
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Aldi portfolio bought by MGPA
1 September 2010
Discount retailer Aldi has sold a portfolio of 140 properties to MGPA for an undisclosed sum.
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Sainsbury’s gets go ahead for Derbyshire supermarket
1 September 2010
Sainsbury’s, advised by Indigo Planning, has been given the go ahead for a major superstore extension in Chesterfield, Derbyshire, following an appeal.
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Latest Farebrother report shows take up in Midtown strong
1 September 2010
The drying up of new office space in London’s Midtown area is encouraging the take-up of refurbished offices.
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Invista buys Aberdeen shopping centre
31 August 2010
Invista Real Estate Investment Management has bought the Westhill Shopping Centre in Aberdeen for £9.25m.
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CB Richard Ellis Global Marketview: Office Rental Cycle - Q2 2010
31 August 2010
Global economic indicators improved in the second quarter of 2010 and world GDP growth for the year is forecast at around 4.5%, according to the IMF.
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Land Securities sells Stratford mall
31 August 2010
Land Securities has sold its Stratford shopping centre to Catalyst European Property Fund for £91.5m, as first tipped by Property Week.
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Berners Hotel up for sale
31 August 2010
Jones Lang LaSalle Hotels has been appointed by administrators of Berners (BVI), to sell The Berners Hotel in London’s West End.
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Furniture chain plans 33 stores expansion following investment
31 August 2010
Furniture and home accessories retailer Dwell is planning to open 33 stores over the next four years following investment from a private equity house.
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Prezzo to buy rival restaurants
26 August 2010
Italian chain Prezzo has agreed terms to buy the leaseholds of 11 rival restaurants for £3.1m.
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ING UK REIT's NAV boost from Rugby REIT
26 August 2010
ING UK Real Estate Income Trust reported a 7% increase in net asset value today – boosted by its acquisition of Rugby Estate Investment Trust.
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Valad reports A$165m loss
26 August 2010
Valad Property Group today reported full-year losses of A$165.2m, largely driven by write downs on its Australia and New Zealand focused property business.
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Holley and Blake’s Altyon in talks to buy €4bn German portfolio
26 August 2010
Altyon Partners is fronting a consortium of investors in negotiations to buy Berliner Immobilien Holding owned by the German federal state of Berlin.
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Unite achieves 8% NAV rise
26 August 2010
Student accommodation developer UNITE Group saw its net asset value rise by 8% in the first half of the year in a sign of continued strength in the sector.
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Savills reports strong results, but predicts a tricky road ahead
26 August 2010
Savills’s half-year pretax profit grew to £14.4m as transactional markets in the UK and Asia continued to recover.
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Segro hampered by tough continental market
26 August 2010
Segro today revealed a mixed picture across its portfolio for the first half of 2010, with a solid performance in south-east England countered by weaker conditions in continental Europe.
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JLL appointed the Shrewsbury shopping centres
26 August 2010
Jones Lang LaSalle has been appointed property manager of three shopping centres in Shrewsbury.
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Don't miss out! Chance to win free use of a site ends tomorrow
26 August 2010
Property Week and Urban Splash’s competition offering you the chance to win free use of a key site in Manchester closes tomorrow.
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Sapphire retail fund falls into administration
25 August 2010
Three shopping centres owned by entrepreneurs the Reuben brothers in a joint venture with Lloyds have been placed into administration after prolonged refinancing talks failed.
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Evans Randall buys Drapers Gardens in the City
25 August 2010
Evans Randall has bought the recently-completed Drapers Gardens development in the City of London for £242.5m from Canary Wharf Group and Morgan Stanley Real Estate Funds.
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Standard Life backs Minerva in KiFin fight
25 August 2010
Standard Life Investments today threw its support behind Minerva in the developer’s ongoing management battle with its largest shareholder.
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Derwent London reveals lettings and strong half-year figures
25 August 2010
Derwent London has fully let the Charlotte Building in London’s West End, reducing the void rate in its £2.15bn portfolio to just 1%.
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Pandoz agrees €1bn Norwegian hotels company deal
24 August 2010
Swedish hotel owner Pandox has agreed an €1bn deal to buy Norwegian company Norgani Hotels.
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Google signs in Dublin at East Point
24 August 2010
Google has agreed a 40,000 sq ft office letting at East Point Business Park in Dublin. The search engine giant will employ 200 people at the park.
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DevSecs suffers 2.3% NAV decline
24 August 2010
Development Securities suffered a 2.3% reduction in net asset value as a result of swap revaluations and dividends in the first six months of 2010.
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Hansteen buys Kilmartin portfolio
24 August 2010
Hansteen has bought a portfolio of secondary assets from some of collapsed property company Kilmartin’s joint ventures for £13.5m.
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Minerva vs Kifin war of words continues
23 August 2010
The battle of words over the management of Minerva resumed today when the developer’s largest shareholder issued a plea to other shareholders to help it oust the chairman and chief executive.
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Merlin confirms £18.5m Legoland hotel deal
23 August 2010
Legoland owner Merlin Entertainments has confirmed it has agreed a deal for an £18.5m hotel to be developed at the Windsor theme park, as revealed by Property Week.
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Redevco buys in Jersey
23 August 2010
Dutch property company Redevco has bought a Jersey mixed-use property for £19m.
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Forty percent of Woolworths shops still empty
23 August 2010
Forty percent of former Woolworths stores remain unoccupied, research from The Local Data Company has shown.
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Retail availaility at lowest level in 18 months, Cushman research shows
23 August 2010
Retail availability has dropped to its lowest level in 18 months, research from Cushman & Wakefield has shown.
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Moorfield and Grainger form equity release jv
23 August 2010
Moorfield has bought a 50% stake in Grainger’s equity release investment business Sovereign Reversions.
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Desigual to open on Oxford Street
23 August 2010
Spanish clothing retailer Desigual is to open a new store in the current Disney shop on London’s Oxford Street.
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CBRE Investors buys three retail properties
23 August 2010
CBRE Investors has bought three retail properties from a joint venture between AEW Europe/Tristan Capital partners and Mountgrange Investment Management for £15.3m.
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Tesco's Hattersley plans "extremely disappointing" says CABE
20 August 2010
Government architecture watchdog CABE has delivered a damning review of plans for a new Tesco store in Hattersley near Manchester.
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Westex Carpets buys Yorkshire mill
20 August 2010
Westex Carpets has bought Calder Bank Mills in West Yorkshire from BDO, the administrators of former owner S.Lyles Sons and Co, for an undisclosed sum.
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Tower 42 sale scrapped
20 August 2010
Tower 42 is no longer for sale after talks with a potential buyer for the 600ft skyscraper ended this month.
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Manchester’s Piccadilly Gate under offer
20 August 2010
Manchester’s 124,000 sq ft Piccadilly Gate office scheme has been put under offer by overseas investors for more than £48m, reflecting a yield of 5.75%.
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John Lewis learns lessons from leap ‘into the unknown’
20 August 2010
The first John Lewis at Home store in Poole, which opened in October 2009, was a step into the unknown for us
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London retailers sign longest leases in UK
20 August 2010
Retailers in London and outer London receive fewer incentives and have to sign longer leases compared with those in the rest of the UK
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Private investors in West End show
20 August 2010
Wealthy individuals target resurgent London market
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Retailer moves out of stuffed site
20 August 2010
Fashion retailer White Stuff will expand its European portfolio of 64 stores at a rate of 10 new stores each year for the next three years
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Slough consolidation leaves O2 better connected
20 August 2010
Telecoms company cuts costs and emissions in a £20m relocation within Slough
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Brum green light for £75m city-centre scheme
19 August 2010
A 25-storey mixed-use development will be added to Birmingham’s skyline after plans for the scheme were given planning consent by Birmingham City Council today.
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CLS reports strong results despite currency impact on valuations
19 August 2010
European property investment company CLS Holdings delivered strong operational results today, despite weak currency having a negative effect on its portfolio valuation.
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Miss Sixty distributor heads for liquidation
19 August 2010
Sixty UK, the distributor for fashion brands Miss Sixty and Energie, is to be liquidated following the rejection of its company voluntary arrangement last month.
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MedImmune expands at Granta Park
19 August 2010
MedImmune Limited, the global biologics unit of AstraZeneca, has taken a 22,000 sq ft office building on a 15-year lease at Granta Park Cambridge.
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Warner Estate halves void space
19 August 2010
Warner Estate Holdings has filled nearly half of its void space in the last five months, the property investor said today.
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Hammerson to net €217m from O'Parinor sale
19 August 2010
Hammerson is to net €217m from the sale of a stake in the O’Parinor shopping centre in Paris after announcing today it had exchanged contracts on the deal.
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Goodman optimistic despite portfolio value decline
19 August 2010
Goodman Group’s property portfolio fell in value by A$518.9m in the last financial year, the Australian industrial developer said today.
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Brookfield appoints German asset manager
19 August 2010
Global fund manager Brookfield has appointed Corpus Sireo to asset manage its property portfolio in Germany.
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Allen & Overy consolidates in London
19 August 2010
Law firm Allen & Overy is consolidating its offices and relocating 200 staff from Canary Wharf to its headquarters in Bishopsgate in the City of London.
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Primary Health enjoys positive rent and yield movements
19 August 2010
Primary Health Properties achieved an 8.7% increase in its net asset value in the first half of the year, thanks to a rise in the value of primary healthcare properties.
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American Apparel warns on future
18 August 2010
American Apparel, the US based fashion chain has warned it may not continue as a going concern.
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Taylor Wimpey starts 3,300 homes Didcot development
18 August 2010
Taylor Wimpey has started work at the Great Western Park development to the west of Didcot, which will eventually see 3,330 houses built.
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Rockspring buys €45m Spanish retail portfolio
18 August 2010
Rockspring Property Investment Managers has bought a portfolio of 21 Spanish food stores for €45m.
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Wedding supplies retailer Confetti shuts stores
18 August 2010
Confetti, the online and high street wedding supplies retailer, has gone into administration.
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Six former Merchant Inns sold to Bespoke Hotel Group
18 August 2010
Boutique hotel operator Bespoke Hotel Group has signed a management contract for six 4-star former Merchant Inns hotels.
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PWTV: Most UK markets over-priced says DTZ
18 August 2010
Most UK markets are over-priced and offer unattractive returns over the next five years, according to DTZ.
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Fancy dress for Bluewater
17 August 2010
Angels, the UK’s largest and longest-established costumiers, is to open a 2,370 sq ft pop-up store at Bluewater shopping centre.
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Hammerson in talks to sell 51% of O’Parinor retail scheme
17 August 2010
Hammerson is in talks with The National Pension Service of Korea to sell a 51% stake in its flagship O’Parinor shopping scheme on the outskirts of Paris.
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HelioSlough takes legal action over Radlett decision
17 August 2010
HelioSlough has submitted a legal challenge to the High Court of Justice to a decision by the secretary of state to dismiss its appeal to develop its scheme in Radlett.
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Fladgate moves to Covent Garden
17 August 2010
Commercial property law firm Fladgate has announced it will consolidate its offices by moving to a site in Covent Garden.
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Guernsey-based investment company to target real estate debt
17 August 2010
Queen’s Walk Investment is planning to raise €24.9m to invest in European real estate debt.
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RBS sells €1.4bn loan book to Intermediate Capital Group
17 August 2010
Royal Bank of Scotland has agreed to sell a €1.4bn portfolio of loans to a fund managed by Intermediate Capital Group.
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Restaurants confirm appetite for Central St Giles
17 August 2010
Four leading restaurant operators have exchanged contracts to open at the new Central Saint Giles development in London’s West End.
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Tiger donates former petrol station for pop up cinema
17 August 2010
Tiger Developments has donated a former petrol filling station in Clerkenwell for a pop up 1950s style cinema.
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Bank growth revisions show "increased downside risk"
16 August 2010
The Bank of England has revised downwards its 2011 GDP Growth Forecast from 3.4% to 2.5%. This figure may be reduced further later in the year given the effect the government’s austerity measures may have on: employment (despite the recent respite), the banking sector’s propensity to lend (or lack of it!) and given that the BOE’s forecast for inflation remains above the government target of 2% until Q4 2011 / Q1 2012.
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PEPR secures €50m credit facility
16 August 2010
Prologis European Properties (PEPR) has agreed a new €50m credit facility with a consortium of banks.
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Bank of China to fund £100m London hotel
16 August 2010
Bank of China is to fund a £100m London hotel development in its first substantial investment in London’s hospitality sector, the Independent on Sunday has reported.
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Retailers buy up Bond Street
16 August 2010
MaxMara and Louis Vuitton Moët Hennessy are each buying a store on London’s Bond Street, as luxury retailers snap up property on the exclusive shopping street.
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Rockspring completes Mall fund shopping centre deal
16 August 2010
Capital & Regional has completed the sale of four shopping centres today. As tipped by Property Week, Rockspring Investment Managers has paid £135.9m for the four schemes.
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CBRE Investors buys Belfast M&S
16 August 2010
CBRE Investors has bought an 83,000 sq ft Marks & Spencer store in Belfast city centre for £8.75m.
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Henderson buys Maidenhead Boots
16 August 2010
Henderson Global Investors, on behalf of Henderson UK Property Unit Trust, has acquired a retail unit on Maidenhead High Street.
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Invista buys in Farringdon Street
13 August 2010
Invista Real Estate has bought 30 Farringdon Street in the City of London.
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Countryside Properties gets the go ahead in Barking
13 August 2010
Countryside Properties has been granted outline planning permission by the London Thames Gateway Development Corporation for Fresh Wharf in Barking.
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Pessimism grows amongst financial advisers
12 August 2010
The number of financial advisers expecting commercial property prices to fall has quadrupled since the start of the year, research from Reita has shown.
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Shaftesbury upbeat on "flourishing" West End
12 August 2010
Shaftesbury remains bullish towards London’s West End – an area it says continues to flourish despite uncertainty in the national and international property markets.
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Lloyds faces losses from US luxury resort
12 August 2010
Lloyds Banking Group is facing multi-million pound losses after a US luxury resort, filed for bankruptcy protection on Tuesday.
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Fashion brand Ed Hardy franchisee in administration
12 August 2010
Ed Hardy Operations (Australia) has entered into administration this week.
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Gazeley green light for £70m B&Q distribution hub
12 August 2010
Gazeley has been granted planning consent to develop a £70m B&Q distribution centre in Swindon.
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LaSalle plans new German investment vehicle
12 August 2010
LaSalle Investment Management is planning to launch a new investment vehicle in a bid to attract Swiss, Austrian and German investors.
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Societe Generale to double Asian property lending
12 August 2010
Societe Generale plans to more than double the amount it lends on property in Asia, Bloomberg reported today.
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DevSecs rights receives 75% rights issue take-up
12 August 2010
Development Securities has received 75% take-up of new shares offered in its latest rights issue.
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Capital & Regional pleases City with strong interim results
11 August 2010
Capital & Regional today reported better-than-expected half-year results.
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Admiral takes Cardiff’s biggest ever pre-let
11 August 2010
Stoford is to develop a 220,000 sq ft headquarters for Admiral Group in Cardiff - the biggest ever pre-let deal in Cardiff’s history.
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Grainger reports solid progress
11 August 2010
Grainger revealed good progress in a trading update today, despite growing “doom-and-gloom” sentiment for the UK housing market.
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A quarter of Irish property “over-rented”, says IPD
11 August 2010
More than a quarter of Irish commercial property income is over-rented, research by Investment Property Databank shows.
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LandSecs submits Derby plans
11 August 2010
Land Securities have submitted plans to redevelop the Meteor Retail Park in Derby.
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Confidence returning to banks, says CB Richard Ellis
11 August 2010
Debt finance for speculative schemes and more competitive lending terms are returning to the European debt markets, research from CB Richard Ellis has shown.
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Minerva hits back at Kifin’s EGM proposals
11 August 2010
Minerva, the London developer, today called an extraordinary general meeting next month at the request of largest shareholder and predator Kifin.
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Atrium European Real Estate to sue founders for €2bn
11 August 2010
Atrium European Real Estate is to sue the former management of its company for €2bn.
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Jungle Rumble tumbles into Liverpool One
10 August 2010
Jungle Rumble, an adventure golf course is to open at Grosvenor’s Liverpool One Development. Compromising two 18-hole golf courses, golf simulator and catering facilities.
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PWTV: Will Primark's new store revive Oxford Street's East End
10 August 2010
Primark’s second Oxford Street store at the world famous retail street’s east end, as revealed by Property Week, will bring a major fashion retailer to an area that has struggled to create a strong retail mix.
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TK Maxx to open new Cardiff store
10 August 2010
TK Maxx is fitting out a new store in Cardiff this month.
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Rockspring buys in Basildon
10 August 2010
Rockspring’s Hanover Property Unit Trust has bought the freehold of the Wollaston Industrial Estate in Basildon from Standard Life.
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Welsh government appoints LSH and Amber to manage £55m fund
10 August 2010
The Welsh Assembly government has appointed Amber Infrastructure and Lambert Smith Hampton to manage a £55m EU-backed Welsh regeneration fund.
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LaSalle Investment Management closes deals worth £218m
10 August 2010
LaSalle Investment Management has completed three transactions in the Asia-Pacific region worth a total of £218m.
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Quintain achieves two "key milestones"
10 August 2010
Quintain has achieved two of the nine “milestones” set out in its three-year business plan.
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Olympics tower designs need work, says CABE
9 August 2010
Further work is needed on the design of the ArcleorMittal Orbit, the 114m viewing tower and a focal point for the 2012 Olympic Games, the government’s architecture watchdog said today.
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Estama wins Evans Randall German management job
9 August 2010
Estama, the German asset management specialist, has taken over the management of a 120,000 sq m portfolio on behalf of Evans Randall.
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Newbury retail scheme opening date confirmed
9 August 2010
Standard Life Investments and Shearer Property Group have confirmed the date for the opening of their Newbury retail scheme.
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Rise in commercial property development in July
9 August 2010
July saw a rise in commercial property development activity, according to the latest statistics from Savills.
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Peel to open Holiday Inn at MediaCityUK
9 August 2010
Peel Leisure has signed up Holiday Inn to open a hotel at MediaCityUK in Manchester.
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Mitchells & Butlers sells Hollywood Bowl
9 August 2010
Mitchells & Butlers has agreed the sale of its Hollywood Bowl business.
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Greenwich Peninsula's Pier Walk sold
9 August 2010
Quintain and Lend Lease have sold Pier Walk at Greenwich Peninsula to German fund Deka Immobilien.
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The Property Archive: UK Property Investment Bulletin - Q2 2010
6 August 2010
Investment volumes are up, property yields have continued to compress in the second quarter, so why worry?
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Trading volumes fall as investors "side-tracked"
6 August 2010
IPD delivered their Q2 results this week, reporting that UK Total Returns rose by 3.4%, comprising Income Returns of +1.5%, Capital Growth of +1.8% and Cross Product of +0.1% completing the 4th quarter running, with rising capital values amounting to 17%.
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Cushman & Wakefield: An Overview of the UK Property Market
6 August 2010
The second quarter was a difficult time for all derivative markets, not least property, as the entire financial community was locked into a state of inertia ahead of the UK general election, allied with much uncertainty surrounding the fi scal defi cit and the sovereign debt issues related to other European partners such as Greece.
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Cushman & Wakefield Business Briefing: The UK Property Investment Market - Heading for a Cooler Summer?
6 August 2010
Prime yields were unchanged in June, averaging 5.79% for the second month running. The market has slowed a little, with many feeling it willnow face a quieter period through the summer before investors return in the autumn. Others, however, see this as a window of opportunity!
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RICS Global Distressed Property Monitor
6 August 2010
The Q2 Global Distressed Property Monitor from RICS indicates that growth in distressed property listings* eased back across 85% of countries surveyed when compared to the first quarter.
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£100m Camlin portfolio up for sale
6 August 2010
A £100m portfolio owned by Scottish entrepreneurs David Cameron and Bruce Linton has been put up for sale.
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Economist Tower lettings achieve high St James rents
6 August 2010
Ryder Street Properties, represented by Mellersh & Harding, have achieved some of the highest rents in St James’s for a year at the EconomistTower.
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Rockspring into spec action in west London
06 August 2010
Investor-developer in talks to buy Schroders Uxbridge site for office scheme
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Wigan’s Grand Arcade rescued
5 August 2010
Redefine International has rescued the former Modus owned Grand Arcade shopping centre in Wigan.
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McLaren to open at One Hyde Park
5 August 2010
McLaren’s high performance sports car, the MP4-12C, will be on sale at CPC Group and Qatari-backed Waterknight’s One Hyde Park: The Residences at Mandarin Oriental development from January.
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Barclays Corporate's Spanish exposure leads to losses
5 August 2010
Barclays Corporate today reported a half year pre-tax loss of £377m, largely caused by the exposures to Spain’s property and construction industry.
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July surge in derivatives trading says RBS's Ljubic
5 August 2010
There has been as much money invested into the UK derivatives market in July as there was in the entire second quarter of the year, Royal Bank of Scotland derivative’s trader Philip Ljubic told Property Week this week.
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DTZ shareholders approve asset management deal
5 August 2010
DTZ’s shareholders today approved plans to buy the remaining 20% it does not own in its European asset management business in a deal worth up to €22m.
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NR Nordic plans total property sell off
5 August 2010
NR Nordic & Russia Properties, the Euronext-listed property company in which the Livingstone brothers own a 24.6% stake, is to sell all its assets over the next four years.
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Alliance criticises coalition planning reforms
5 August 2010
Nearly 30 organisations including property associations, engineering bodies and green charities have written to communities secretary Eric Pickles criticising the government’s planning policies, as tipped by Property Week four weeks ago.
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Distress gap emerging between Europe and the rest of the world, says RICS
5 August 2010
Portugal, Spain and Germany saw the biggest increases in distressed property being brought to the market last quarter as concerns over the health of the European banking system linger, research from the Royal Institution of Chartered Surveyors has shown.
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London & Stamford plans REIT conversion
5 August 2010
London & Stamford today announced plans to convert to a real estate investment trust (REIT) in order to remain largely exempt from future corporation tax.
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Metric heads to Cornwall for second purchase
5 August 2010
Metric Property Investments has made its second purchase since its £190m flotation on the London Stock Exchange in March.
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Primark swoops on east Oxford Street
5 August 2010
Primark is set to open a giant new store at the eastern end of Oxford Street in the biggest sign yet that the area will undergo a revival this decade.
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British Land reports small portfolio value uplift
4 August 2010
British Land today reported solid quarterly financial results but sounded a note of caution about the outlook for the UK market.
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Peel invests in Ellesmere Port
4 August 2010
Peel Ports has bought the 46-acre Ellesmere Port site from Bridgewater Paper Company’s administrators Ernst & Young for £10.5m.
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RBS agrees £1.65bn branch sale to Santander
4 August 2010
The Royal Bank of Scotland has agreed to sell 318 branches and other assets to Spanish bank Santander for £1.65bn at at a premium of £350m to net asset value.
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Twelve directors quit Croydon regeneration body
3 August 2010
Twelve directors of the Croydon Economic Development Company have walked out today, as the regeneration body begins to wind down its operations.
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Ex-Morgan Stanley trio secure backing for new venture
2 August 2010
Three former Morgan Stanley Real Estate real estate directors, John Carrafiell, Sonny Kalsi and Fred Schmidt, have received financial backing from a Dutch-listed company for their new venture.
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St Modwen and Persimmon in £300m housing joint venture
2 August 2010
St Modwen and housebuilder Persimmon have entered into a joint venture initially to develop 2,000 homes on seven sites owned by St Modwen.
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Hammerson reports solid half-year results
2 August 2010
Hammerson achieved a 7.8% increase in its half-year net asset value, but it remains cautious for the future.
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Prupim buys 25% stake in Henderson's Brewery
2 August 2010
Henderson Global Investors has sold a 25% stake in the Brewery in Romford for £44.25m.
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UBS signs for giant Broadgate deal
2 August 2010
British Land and Blackstone have secured a 700,000 sq ft pre-let with UBS at their City of London Broadgate Estate.
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King Sturge: Office Occupier Trends - Q2 2010
30 July 2010
A total of 1.3 million ft² of office floorspace was acquired in Q2 2010, down 57% on Q1 2010 and 12% lower than the same period a year ago.
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CBRE seals two sheds deals in West Midlands
30 July 2010
British Capital Property has bought a 130,000 sq ft warehouse near Wolverhampton from a private investor for £8.35m, reflecting a net initial yield of 7.53%.
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Izett quits as Colliers chief
30 July 2010
David Izett has quit as chief executive of Colliers International UK “to seek other challenges”.
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Consortium buys second round of Spanish assets
30 July 2010
A consortium of RREEF Europe, Area Property Partners and Europa Capital has bought a second portfolio of Spanish property assets from Banco Bilbao Vizcaya Argentaria (BBVA).
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Prospect buys in Telford
30 July 2010
Prospect Estates has bought the freehold of Halesfield Seven for £1.83m, the largest industrial deal in Telford this year. The 15.63 acre site will be divided to create a new industrial estate known as Epic Park.
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Kurt Geiger Covent Garden unveiled
29 July 2010
Footwear retailer Kurt Geiger has this week unveiled its new store in Covent Garden.
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CoStar Investment Update: June 2010
29 July 2010
The June summary of the investment market shows activity rising following a slow start to the year. The Q2 2010 total exceeded Q1 2010’s total by 17%.
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CB Richard Ellis: Prime Rent and Yield Monitor - Q2 2010
29 July 2010
Prime rental growth for commercial property was flat this quarter following two preceding quarters of marginal growth.
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Broadgate Estates appointed to manage £4bn King's Cross scheme estate
29 July 2010
Broadgate Estates has been appointed to advise on the estate management on the £4bn King’s Cross Central scheme.
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Price curve lowers with capital value concerns
29 July 2010
The whole price curve moved lower this week as concerns over capital values continue to dominate many investors’ thoughts as sentiment takes a turn for the worse driven by the fragile economic environment.
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Bank of England figures show mortgage lending remaining quiet
29 July 2010
Total mortgaging rose by £600m in June, the Bank of England’s lending figures showed today, but the number of loans approved fell in a sign that the lending market will remain quiet into autumn.
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HCA hit by £26m London-Wide Initiative cost
29 July 2010
The Homes and Communities Agency has been hit with a £26m cost due to the failure of a London homes development initiative.
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Boris introduces new protected views in central London
29 July 2010
Boris Johnson has today published new guidance aimed at increasing the protection of London’s historic views.
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Manchester councils to run £350m North West kickstart fund
29 July 2010
A consortium led by ten Greater Manchester councils has been chosen to manage a £350m regeneration fund to lend to developers in the north-west.
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Centro refinances $2.7bn US debt
29 July 2010
Australian shopping centre developer Centro has refinanced US$2.7bn of debt within its US business.
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IPP buys former Croda site in Bromborough
29 July 2010
Croda’s former fatty acid plant at Bromborough Pool in Merseyside has been bought by Dibbin Estates and Equipment, an International Process Plants and Equipment Corp (IPP) affiliate.
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Irish department store in control of banks
28 July 2010
State-owned Anglo Irish Bank and Ulster Bank are set to take control of department store Arnotts in Ireland.
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Southampton wins Arts Council funding
28 July 2010
A proposed arts complex in Southampton has been awarded £7.2m by the Arts Council England.
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Owners, advisers and tenants unite for “green lease action plan”
28 July 2010
Leading building owners and advisory firms in the US have joined corporate tenants in committing to a statement of principles and a Green Lease Action Plan to resolve the challenges of energy and sustainability in leased office buildings.
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Sainsbury’s confirms CBRE appointed as estates manager
28 July 2010
Sainsbury’s has confirmed it has signed a three year contract with CB Richard Ellis to take on the role of estates manager for the supermarket retailer.
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Irish rents stifle recovery, IPD Q2 figures show
28 July 2010
A sharp fall in Irish commercial property rents is stifling the market’s recovery.
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Internos secures logistics letting in the Netherlands
28 July 2010
Internos Real Investors, the €1.5bn real estate fund management business has let 12,000 sq m of distribution space in the Netherlands.
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Europa sells €60m Düsseldorf development
28 July 2010
Europa Capital has completed the sale of an office development in Düsseldorf for €60m.
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Cheshire developer buys back Modus site in Devon.
28 July 2010
Rob Lloyd, the chief executive of AIM-listed developer Eatonfield, has bought a 24-acre site in Devon that was formerly owned by Brendan Flood’s Modus group.
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Derwent completes Central Cross buy
28 July 2010
Derwent London made its biggest purchase for three years this week.
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Royal Docks regeneration plans published
28 July 2010
Plans for the regeneration of the Royal Docks in east London have been published today, setting out a strategy to secure up to £22bn of investment.
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CBRE reports second quarter profit of $54.8m
27 July 2010
CB Richard Ellis has reported significantly higher revenue and earnings for the second quarter.
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JLL makes profit of $32m in second quarter
27 July 2010
Jones Lang LaSalle has reported a much improved second quarter financial performance.
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Qatari investor sees value in Mayfair
27 July 2010
F&C Reit has sold 27 Dover Street in Mayfair, London for £6.35m. Claymore Asset Management bought the property on behalf of Qatari-owned Oryx Property.
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Duchy of Lancaster reports solid results
27 July 2010
The Duchy of Lancaster’s estate rose by 7.9% in value and generated a total return of 11.9% in the year to 31 March.
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Lend Lease buys Singapore development site
27 July 2010
Australian listed property group Lend Lease has bought Singapore’s Jurong Gateway Road site for A$618m (£360m).
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Beacon Capital secures €600m refinancing of Paris tower development
27 July 2010
Pbb Deutsche Pfandbriefbank has renewed and extended the €600m facility to Beacon Capital Partners for the Tour First tower development in La Defense near Paris
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DAM Estates gets planning for Travelodge at Lee Hurst comedy club
27 July 2010
Hotel operator Travelodge and stand-up comic Lee Hurst are set to open in a development in east London that has just won planning permission.
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Euro Disney sells €47m mall
27 July 2010
Klepierre and AXA have bought the Val d’Europe mall from Euro Disney for €47m.
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Redefine agrees £106m London hotels deal
26 July 2010
Redefine International has agreed to buy five Holiday Inn hotels in London for £106.3m.
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Betting shop bought up by rivals
26 July 2010
South-east based betting shop chain Roar Betting has been split up and sold after it was placed in administration on 19 July.
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UK Coal appoints Peel director to run restructured property division
26 July 2010
UK Coal, Britain’s largest coal mining company, has appointed Peel Holdings director Owen Michaelson to take over its property division following a structural overhaul of the business.
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HSBC to lead £600m Pinnacle funding
26 July 2010
The consortium behind plans to develop one the Pinnacle is close to agreeing terms with HSBC to lead the £600m financing of what will be one of London’s tallest skyscrapers, the Independent on Sunday reported yesterday.
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Trespass opens first south-west store
23 July 2010
Outdoor leisure and clothing retailer Trespass has opened its first high street store in the south west as it starts a wave of new openings.
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More new names for Southgate Bath
23 July 2010
Multi Development and Aviva Investors have signed a raft of new names for their Southgate scheme in Bath.
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Norfolk MPs step in to bring Targetfollow back from the brink
23 July 2010
A group of Norfolk based MPs have stepped in to crunch talks with Lloyds Banking Group over the future of Norwich-based private property company Targetfollow.
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Investors snap up derivatives bargains
23 July 2010
The market improved across the curve this week, particularly in the Dec 10 contract as investors were quick to snap up the occasional bargain at the lower levels reached last week when it was possible to buy IPD returns paid annually at par.
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Intelligence: Derivative values
23 July 2010
Quiet market means swaps have fallen off property’s radar
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L&G buys in Wales
23 July 2010
Legal & General Property has bought two office buildings from developers WISP Newport and WISP Swansea for £23.44m, an average net initial yield of 5.15%.
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Le Meridien Piccadilly sold to Host Hotels & Resorts
22 July 2010
Starman Hotels has sold its Le Meridien Piccadilly hotel in London to Host Hotels & Resorts for £64m.
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Scarborough wins Cheshire consent
22 July 2010
Scarborough Development Group has obtained planning permission for a multi-million pound redevelopment of a three-acre town centre site in Congleton, Cheshire.
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Gleniffer sells Glasgow Waitrose scheme
22 July 2010
Gleniffer Estates PLC has sold the fourth phase of Greenlaw Village in Newton Mearns, Glasgow to an unnamed pension provider.
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Defra to cull 36 quangos
22 July 2010
The government’s Department for Environment, Food, and Rural Affairs is to axe 36 quangos as part of an efficiency savings drive, it was announced today.
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Oldham appoints consultancy on £20m stadium plans
22 July 2010
Oldham Athletic FC has appointed Sports Solutions GB to help deliver their £20m community sports facilities development scheme.
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Minority shareholders should vote against £1.6bn F&C CPT and UK CPT merger says Cenkos
22 July 2010
Minority shareholders should vote against the £1.6bn merger of F&C Commercial Property Trust and UK Commercial Property Trust, a note from City broker Cenkos has said.
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Green means go for Miller Birch and E.ON
22 July 2010
Power company E.ON and its development partner Miller Birch have secured planning permission for a 105,000 sq ft “green” office scheme.
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GPE portfolio outperforms the market
22 July 2010
Great Portland Estates’ portfolio outperformed the market with a 4.6% capital value growth in the second quarter of this year, the company said today.
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DevSecs launches £100m rights issue
22 July 2010
Development Securities today announced a £100.2m rights issue to take advantage of development opportunities in the finance-starved market.
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Staffordshire police offices up for sale
21 July 2010
Staffordshire Police has put the freehold interest of 5,573 sq ft of commercial office space at Crossfields, 35 Cannock Road in Baswich, near Stafford, up for sale.
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Tritax completes Brindleyplace sale
21 July 2010
Tritax has completed the sale of £190m worth of offices at Birmingham’s Brindleyplace, as first revealed by PropertyWeek.com.
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Recovery is ‘stalling’, says Helical Bar
21 July 2010
Helical Bar believes the strong recovery in property values is “stalling”, and will only buy selectively, the company said today in a market update.
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Trinity Leeds to go ahead and non-exec director appointed at LandSecs
21 July 2010
Land Securities has confirmed it plans to start its 1m sq ft Trinity Leeds shopping centre scheme.
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ProLogis signs three build-to-suits in Europe
21 July 2010
ProLogis has secured three build-to-suit agreements for distribution facilities in Europe totalling 389,000 sq ft and approximately $31m of investment.
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London and Stamford buy in Battersea
21 July 2010
London & Stamford Property has bought apartments and car parking spaces at Bridges Wharf, Battersea, in south London.
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Scottish Widows confirms Kleinwort Benson letting
21 July 2010
Kleinwort Benson, the UK and Channel Islands wealth manager, has taken the whole of Scottish Widows Investment Partnership’s (SWIP) 50,000 sq ft St George Street office development, as first tipped by Property Week in February.
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Mortgage lending up by 15% in June
20 July 2010
Gross mortgage lending in June was 15% higher than in May, figures from the Council of Mortgage Lenders have shown, but is still at a low level.
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Construction begins on Co-op head office
20 July 2010
Construction has started on the Co-operative Group head office in Manchester.
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Heron secures £115m loan for City resi tower
20 July 2010
Heron International has secured a £115m loan facility to finance the construction of The Heron, its residential development next to the Barbican in the City of London.
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Henderson buys Islington shopping centre for £112m
20 July 2010
Henderson Global Investors’ German business Warburg-Henderson KAG has bought the N1 shopping centre in Islington for £112m.
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Luxury Fashion boosts West End retail sales
19 July 2010
Retail sales in London’s West End saw a 10% year-on-year growth in June compared to a flat UK-wide result of just 1.2%, according to figures released by the New West End Company today.
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Investec recruits Gandy to UK acquisition team
19 July 2010
Investec Property Investments has appointed Crispin Gandy to its UK and Ireland acquisition team.
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Morgans refinances £100m luxury London hotels debt
19 July 2010
Debt secured against two five-star London hotels has been refinanced by one of the hotels’ joint owners, Morgan Hotels Group.
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Aviva wins Noho Square scheme
19 July 2010
Aviva Investors and Exemplar Properties have teamed up with the committee managing the assets of Iceland’s failed Kaupthing Bank to develop a £750m scheme on the site of the former Middlesex Hospital, the Independent reported today.
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Pricing continues downwards as summer holidays begin
16 July 2010
Just as the market was settling down for the summer holidays derivative pricing continued the downward trend, bringing IPD swap returns more into line with those generated in the REIT market, during possibly the busiest week for several months.
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Grainger unveils plans for Newlands
16 July 2010
Grainger has revealed the initial designs for the first phase of its residential led, mixed-use development in Newlands, Hampshire.
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Midtown’s office development pipeline dries up
16 July 2010
Midtown’s office development pipeline is drying up, according to the latest data from Farebrother.
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Morey joins Alvarez & Marsal
16 July 2010
Scott Morey, former chief operating officer and chief financial officer at west African firm CityScape, is to join Alvarez & Marsal as a managing director and head of the firm’s European real estate practice.
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Bank lending is about to get even trickier
16 July 2010
The Basel III rules will make it even harder for banks to lend to property companies and investors
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Prologis leases 490,000 sq ft to Travis Perkins
15 July 2010
PEPR, one of Europe’s largest owners of modern warehouse distribution facilities, announced today that it has signed a 17 year lease with Travis Perkins, a supplier to the UK’s building and construction industry.
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Cap & Reg and Aviva completes £1.1bn debt restructure
15 July 2010
Capital & Regional and Aviva Investors, co-managers of the Mall Fund, have completed restructuring the fund’s £1.1bn debt pile.
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Boris Johnson BIDs for regeneration co-operation
15 July 2010
Mayor of London Boris Johnson today announced plans to allow London’s delivery agencies and Business Improvement Districts to work together to ensure a city-wide dialogue of regeneration.
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Mitchells & Butler sells £91m lodge business
15 July 2010
Mitchells & Butlers has announced the disposal of the majority of its lodge business and the sale and leaseback of eight pubs for £91m.
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Global investment in Q2 doubles to $66bn
15 July 2010
Global real estate investment in the second quarter of 2010 was $66bn – double the same period in 2009, research from Jones Lang LaSalle has shown.
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Tesco development arms submits £150m Gateshead plan
15 July 2010
Spenhill has submitted a planning application for the $150m regeneration of Trinity Square in Gateshead.
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Fletcher King pre-tax profits drop
15 July 2010
Profits at property consultancy Fletcher King fell by more than a quarter in 2009, the firm revealed today.
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McKay Securities completes office lettings trio
15 July 2010
McKay Securities has completed three office lettings in London.
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Crown portfolio rises by £625m
15 July 2010
The value of the Crown Estate’s property portfolio rose by 8.8% to £6.23bn over the last year, bolstered by its urban portfolio focussed around London’s Regent Street.
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Kirsh calls for removal of Minerva chief executive
14 July 2010
Kifin, a company controlled by wealthy South African investor Natie Kirsh, is trying to oust the chairman and chief executive of Minerva, the London developer.
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IPD: UK values rose 0.5% in June
14 July 2010
UK commercial property has eased to its slowest quarterly growth since the market rebound began last August.
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Plans submitted for Falkirk scheme
14 July 2010
British Waterways and Falkirk Council have submitted plans for 58-acre mixed use scheme on Forth & Clyde canal.
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King Sturge strengthens South East office team
14 July 2010
King Sturge has appointed Chris Barrs as a senior associate in the South East office agency team.
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Pramerica forms Abu Dhabi joint venture
14 July 2010
Pramerica Real Estate Investors has formed a real estate investment management joint venture with Abu Dhabi government investment body Mubadala Development Company.
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Sporting plans for Lewisham revealed
13 July 2010
Regeneration specialist Renewal has launched plans for the regeneration of north Lewisham.
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MCC shortlist five developers for luxury flats at Lord’s
13 July 2010
Marylebone Cricket Club (MCC) has shortlisted five development companies to build a residential scheme at Lord’s Cricket Ground in St John’s Wood, London.
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DTZ returns to profit at operating level
13 July 2010
DTZ made a pretax loss of £22.9m in the year to 30 April after suffering restructuring and refinancing costs.
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DTZ plans asset management buy
13 July 2010
DTZ is planning to buy the remaining 20% stake it does not own in its European asset management business in a deal worth up to €22m.
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Savills hits 89% despite auction downturn
13 July 2010
Savills achieved a success rate of 89% at its commercial auction yesterday, raising £5m from 26 lots.
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Barclays provides student accomodation debt
13 July 2010
Barclays Corporate has provided £27.4m senior debt finance for Campus Living Villages to develop student accommodation at the University of Bedfordshire.
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Covent Garden Market Authority announces shortlist for a development partner
12 July 2010
The Covent Garden Market Authority (CGMA) has announced a shortlist of six developers for the £1bn redevelopment of the New Covent Garden Market in Nine Elms, on the south bank of the River Thames.
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Closing date set for Ferry Village bids
12 July 2010
Bids for a 27 acre residential site at Ferry Village, Braehead must be submitted by 5 August.
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Central London availability drops to two year low
12 July 2010
Availability in central London is at its lowest for two years according to research by CB Richard Ellis.
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AXA Real Estate raises €230m
12 July 2010
AXA Real Estate has raised €230m for the first closing of its pan-European development fund Development Venture III.
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Double dip fears push prices down, but buyers still scarce
9 July 2010
This week the market was dominated by all the talk of a double dip recession and what the implications for the property market would be.
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Hed Kandi to open Bluewater shop debut
9 July 2010
Music and lifestyle brand Hed Kandi is to make its UK retail debut at Bluewater in August in conjunction with a transactional website.
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Caffè Nero froths up Victoria
09 July 2010
Italian coffee chain Caffè Nero this week opened a 2,268 sq ft coffee shop on a 10-year lease with six months rent free at Marsham Street near Victoria railway station in central London
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Chemist restructures and cuts costs to Boots
09 July 2010
The UK’s largest pharmacy, Alliance Boots, has reorganised its property team to reduce its property costs and expand its portfolio
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Fortress buys CW Financial
09 July 2010
Fortress Investment Group has agreed to buy US loan servicing and investment management company CW Financial Services
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Gellatly firms up IPF chairman role
09 July 2010
John Gellatly has taken over as chairman of the Investment Property Forum for the next year
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HMV retunes leases
09 July 2010
Music and book retailer HMV Group aims to reduce its leasehold property costs
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IFAs: ‘steer clear from property’
09 July 2010
Independent financial advisers (IFAs) are recommending private investors reduce their exposure to commercial property
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IPD takes on RREEF’s Hobbs for key job
09 July 2010
Property analysis provider recruits researcher as head of business development
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Liverpool One finance line-up
09 July 2010
Grosvenor is in early refinancing talks with banks that provided £450m of debt for its Liverpool One scheme.
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Lloyds’ private equity sell-off
09 July 2010
Lloyds Banking Group has completed the sale of a portfolio of 40 private equity investments, including Lambert Smith Hampton, in its Bank of Scotland Integrated Finance business to a new joint venture, Cavendish Square Partners
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Portman's Village people
09 July 2010
There have been several shop lettings in Portman Estates’ Portman Village in London’s West End
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Q+A: Barry Varcoe resonates
09 July 2010
Barry Varcoe, past-chairman of CoreNet Global and former group property director at the Royal Bank of Scotland (see box), talks to Property Week about his new business venture, Real Estate Resonance, which he launched this week
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Raven Russia AIMs for main market
09 July 2010
Industrial property developer Raven Russia is moving its listing from AIM to the main London Stock Exchange at the beginning of next month.
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RBS enlists Lazard for £3bn loan sale
09 July 2010
The Royal Bank of Scotland (RBS) is working on plans to sell up to £3bn of its £51bn of “non-core” commercial property loans.
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St Modwen shells out to shareholders
09 July 2010
Regeneration specialist turns corner in recovery and pays dividends
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Tokyobike's London ride
09 July 2010
Independent Japanese bicycle company Tokyobike has opened a 1,050 sq ft pop-up shop on Ballymore Properties’ 117 Commercial Street in east London.
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Travelodge has eye on 2012 Olympics prize
09 July 2010
Hotel chain plans 8,000 further bedrooms in time for the games and to outprice independent operators
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Treveria German holding companies face €329m insolvency action
8 July 2010
Deutsche Bank has filed for insolvency on several of retail investor Treveria’s property holding companies in relation to €329m of debt.
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Gladedale Capital appoints new MD
8 July 2010
Gladedale Capital has appointed Paul Curran as managing director - replacing the previous managing director who departed two years ago.
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Carlyle completes £671m White Tower purchase
8 July 2010
Carlyle Group has exchanged contracts for to buy six central London properties, which were formerly part of the portfolio securing the White Tower 2006-3 commercial mortgage backed securities (CMBS) vehicle.
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Hyde Park hotel sold to private buyer
8 July 2010
The Park Inn in Hyde Park has been sold to a private buyer for around £35m.
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Grosvenor in early Liverpool One refinancing talks
8 July 2010
Grosvenor is in early talks with the four banks which helped fund its Liverpool One retail development about a potential refinancing of the large retail scheme.
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Lend Lease and Southwark agree Elephant & Castle agreement
8 July 2010
Southwark Council and developer Lend Lease agreed the terms of a £1.5bn regeneration agreement - the next step in the regeneration of London’s Elephant & Castle district.
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Big Yellow reports strong trading update
7 July 2010
Big Yellow, the listed self-storage company, revealed strong trading conditions in its interim management statement today.
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AH Medical raises £2m from petrol station owners
7 July 2010
AH Medical Properties has secured £2m through the issue of a secured convertible loan note to two private individuals.
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Auction House passes £40m in six-month sales
7 July 2010
Auction House achieved sales of £42.7m from 41 auctions across the country in the first six months of this year.
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Savills and Giltspur to provide CMBS database
7 July 2010
Savills has joined up with structured finance firm, Giltspur Capital, to launch a new database for bondholders in European Commercial Mortgage Backed Securities (CMBS).
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Allsop raises £51m but success falls to 66% at fourth auction
7 July 2010
Allsop raised £51m from 136 lots at its fourth commercial auction of the year yesterday, a success rate of 66%.
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Henderson and Aviva to merge international funds
7 July 2010
Two of the leading institutional property fund managers are merging international funds to increase their size and regional diversification.
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RBS to sell £3bn of property loans
7 July 2010
Royal Bank of Scotland is preparing to sell £3bn of property loans, the Financial Times reported today.
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Cannon Capital raises £5m at second auction
6 July 2010
Cannon Capital raised £5m with a success rate of 55% at its second auction held at Claridge’s Hotel in London’s Mayfair.
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Lloyds sells £480m Bank of Scotland Integrated Finance unit.
5 July 2010
Lloyds Banking Group has completed the sale of a portfolio of 40 private equity investments, including Lambert Smith Hampton, in its Bank of Scotland Integrated Finance business to a new joint venture, Cavendish Square Partners.
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Gatehouse Bank buys BT HQ in Leeds
5 July 2010
Gatehouse Bank has bought One Sovereign Street, the HQ of BT’s regional headquarters in Leeds, for £40.1m in one of the biggest deals in Yorkshire this year.
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Invista buys Sheffield office building
2 July 2010
Invista Property Foundation Trust has bought the Portergate, an office building in Sheffield, for £10.2m.
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Moorfield and Hines exchange on £200m Brindleyplace deal
1 July 2010
Hines and Moorfield have tonight confirmed their purchase of eight buildings at Brindleyplace in Birmingham.
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Green light for hotel at Clapham Junction
1 July 2010
Planning consent has been granted for a 70-bedroom hotel opposite Clapham Junction train station.
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Government blocks Minerva's 1m sq ft Ram plans
1 July 2010
The government today refused planning consent for Minerva’s 1m sq ft development plans at the Ram Brewery site in Wandsworth.
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Morrisons buys Croydon site
1 July 2010
Morrisons, the UK’s fourth largest supermarket chain, has bought an 11.3-acre site in Croydon for a new store.
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Starwood and L&R buy London's Cumberland in Europe's largest hotel deal this year
1 July 2010
Starwood Capital and London & Regional have bought the Cumberland Hotel at London’s Marble Arch.
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Workspace completes £200m refinancing
1 July 2010
Workspace Group has completed the £200m refinancing of a loan facility with GE Capital and Bayern LB.
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London & Associated restructures RBS credit facility
1 July 2010
London and Associated Properties has restructured its credit facility with Royal Bank of Scotland, it was announced today.
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Law firm Halliwells cites "property obligations" as factor as it faces administration
30 June 2010
Law firm Halliwells has filed a notice to appoint an administrator and suggested that high operating costs are a factor in its difficulties.
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Tesco loses appeal over Liverpool regeneration scheme
30 June 2010
A legal challenge by Tesco, which was blocking a major regeneration scheme in Liverpool, has been rejected by the High Court.
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Barclays Corporate backs Liverpool’s Iliad Group
30 June 2010
Barclays Corporate has provided senior debt finance to Liverpool-based developer the Iliad Group to develop a £38m student property development near Aston University in Birmingham.
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Park Plaza completes on 360 room sales at Westminster Bridge apart-hotel
29 June 2010
Hotel owner and operator Park Plaza has completed 360 sales of rooms at its recently opened Park Plaza Westminster Bridge in London.
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Terrace Hill begins marketing residential property fund
29 June 2010
Terrace Hill and Aegon have begun marketing for a residential investment fund that will be seeded with some of Terrace Hill’s assets.
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Hollister: Live from Norwich
29 June 2010
Abercrombie & Fitch fashion brand Hollister has signed up at Capital Shopping Centre’s Chapelfield shopping centre in Norwich.
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Fund takes space at Glasgow's Capella
28 June 2010
Strathclyde Pension Fund is set to open a new office in Glasgow’s Capella building at Atlantic Quay.
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Moorfield and Hines team up for £200m Brindleyplace bonanza
28 June 2010
Moorfield and Hines have teamed up to buy eight buildings at Birmingham’s Brindleyplace office scheme for just below £200m.
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LaSalle launches £500m UK fund
28 June 2010
LaSalle Investment Management has launched the LaSalle Balanced UK Property Fund for institutional investors.
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Blackrock buys £58m Covent Garden building
28 June 2010
Blackrock UK Property Fund has bought the freehold of 25 Bedford Street in London’s Covent Garden for £58.8m.
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London and Paris "safest markets" says Rufrano
28 June 2010
London and Paris are two of the safest markets to invest in today, according to Cushman & Wakefield’s new global CEO.
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ING REIM Netherlands sells 13 offices
25 June 2010
ING Real Estate Investment Management (ING REIM) has sold a portfolio of 13 office properties to a consortium of international investors.
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Rockspring teams up with former Mall fund director to buy four shopping centres.
25 June 2010
Rockspring Property Investment Managers has exchanged contracts to buy four shopping centres from the Mall fund.
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Lea & Sandeman to expand
25 June 2010
MMX Retail has been appointed by upmarket independent London wine merchant, Lea & Sandeman, to advise on its expansion strategy.
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Land Securities HQ back on market
25 June 2010
Land Securities’ headquarters at 5 Strand, close to Trafalgar Square in London, is up for sale for £53m.
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Alix brings American turnaround elixir to UK
25 June 2010
US outfit provides property companies with “smart” insolvency service
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Brum’s Irish Quarter in dire straits
25 June 2010
A £150m redevelopment of Birmingham’s “Irish Quarter” is in jeopardy after its developer was placed into administration last week.
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Creditors must declare all assets
25 June 2010
Creditors facing bankruptcy who try to hide their assets will face severe penalties, the Insolvency Service warned last week.
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Pramerica installs mezzanine
25 June 2010
Finance vehicle created by Andrew Radkiewicz and Andrew Macland with £150m institutional investment
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Refurb mansion on market
25 June 2010
Chester Row has put a £6.5m Oxshott mansion in Surrey up for sale
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Retail parks remain in favour
25 June 2010
More than £200m of retail parks changed hands or were placed under offer this week, proving the sector is still popular.
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Rockspring's £670m fund for recovery lifts off
25 June 2010
UK Value Fund has invested £81.9m in four properties and has another £170m under offer
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Triton sinks under water
25 June 2010
Receivers called in on City of London office block,Triton Court, owned by Glenn Maud’s Propinvest and Jack Petchey’s Incorporated
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Two sturdy lettings perk up Thames Valley office parks
24 June 2010
Two significant Thames Valley transactions have signalled a return to activity in the region after take-up reached an all-time low earlier this year.
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Sainsbury's gets consent for £40m Kings Lynn development
24 June 2010
Sainsbury’s and developers Morston Assets have been given permission for a £40m retail-led scheme in Kings Lynn.
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HCA Oxfordshire hospital site gets resi green light
24 June 2010
Plans to redevelop a derelict Oxfordshire hospital on Homes and Communities Agency land as part of a residential scheme has been given the go ahead.
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Segro to delist from Euronext Paris
24 June 2010
Segro is to delist from the NYSE Euronext Paris – partly due to low transactional volumes in the French capital.
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DSG International makes £112.7m pre-tax profit
24 June 2010
DSG International made profits of £112.7m over the last financial year swinging the electrical retailer back from a £123.6m loss the year before.
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Best Buy to open in Nottingham and Derby
23 June 2010
Best Buy, the US electrical retailer, has announced plans for two new stores at Kingsway Retail Park in Derby and Castle Marina Retail Park in Nottingham.
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Planning body supports Welsh reforms
22 June 2010
The Royal Town Planning Institute (RTPI) Cymru has voiced support to reform Welsh planning reforms, as outlined by an independent report commissioned by the Welsh Assembly Government.
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Victoria's Secret to make UK debut
22 June 2010
Victoria’s Secret, the US lingerie chain, is to make its UK debut in a store in Bond Street.
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AEW Europe buys Polish warehouses for €91m
21 June 2010
AEW Europe has bought five warehouses in Poland from Panattoni Europe and Standard Life Investments for approximately €91m through its European Property Investors Special Opportunities fund.
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SEB completes Condor House purchase
21 June 2010
SEB Asset Management has completed its purchase of Evans Randall’s Condor House in the City of London for its open-ended real estate fund SEB ImmoPortfolio Target Return Fund.
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Standard Life Investments property head takes early retirement
18 June 2010
Alex Watt, managing director of property investments at Standard Life, is to take early retirement, it was announced today.
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Oracle four go into liquidation
18 June 2010
MCR appointed to David Burke’s residential developer companies
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Miller Homes to develop at The Rock
17 June 2010
Miller Homes has been appointed to develop the first two residential blocks at Hammerson’s The Rock scheme in Bury.
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Allianz to buy €176m stake in Hammerson Paris shopping centre
17 June 2010
Allianz Real Estate has exchanged contracts to buy a 75% stake in Hammerson’s Espace Saint Quentin shopping centre in Paris in a deal worth €176m.
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Land Securities sells £250m Park House scheme
17 June 2010
Land Securities has agreed to forward sell its Park House development on London’s Oxford Street to a Qatari property company for £250m.
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Liverpool ONE smiles with office letting
15 June 2010
Liverpool Orthodontic Centre has signed up at Grosvenor’s Russell Building in its Liverpool One scheme.
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Howard Property Investments buys RBS building
15 June 2010
Howard Property Investments has bought the RBS building on Silbury Boulevard in Milton Keynes for £3.2m from Blackrock Land.
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Double letting at Camomile Court in the City
15 June 2010
MBK Real Estate Europe has let 29,150 sq ft of office space in Camomile Court, in the City of London.
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Danescroft regears McGregor-Boyall leases
15 June 2010
Danescroft Commercial Developments has completed its second regear of leases held by McGregor-Boyall at its 110 Middlesex Street scheme in London.
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IPD: property values rose just 0.5% in May
14 June 2010
The UK commercial property market recovery slowed down last month.
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TfL quits Shard as developers reach for the sky
14 June 2010
Transport for London will no longer become the first office tenant at the Shard at London Bridge as the developers look to position the building at the “top end” of the London market.
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Cap & Reg announces £1.1bn debt restructure proposals
11 June 2010
Capital & Regional has announced proposals for the restructuring of the £1.1bn of securitised debt on the Mall shopping centre fund.
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Hermes £58m London office
11 June 2010
Hermes Real Estate has bought Wimbledon Bridge House for £58m from Tristan Capital Partners and AEW Europe.
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Klépierre sells three retail assets for €72.8m
10 June 2010
French property company Klépierre has sold three retail assets as it seeks to dispose of €400m of property this year.
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Colliers auction team bows out
8 June 2010
Colliers International is to close its auction department.
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BPF Annual Conference: Property contracts need "21st Century" overhaul
8 June 2010
UK property needs to overhaul property contracts so they are fit for the 21st century, a British Property Federation conference has heard.
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Hong Kong residential site fetches £970m
8 June 2010
Sun Hung Kai Properties, the world’s biggest developer by market value, paid HK$10.9bn (£970m) for a residential site at a public auction in Hong Kong, the highest price in Hong Kong since its property market peak in 1997.
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USS buys NatMags House
8 June 2010
Universities Superannuation Scheme has exchanged contracts to buy National Magazine House in London’s West End for £42m.
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PWTV: CoStar warns of further pain
30 April 2010
Commercial property information consultancy CoStar has warned that the low level of transactional volumes being recorded in the market could mean more pain for the property sector.
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Prupim pioneers use of UK sub–sector property derivatives
16 December 2009
Prupim has carried out a series of UK property derivatives totalling £100m with Royal Bank of Scotland.
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Invest UK: Hear our in depth interview with Peter Robinson, First Minister for Northern Ireland.
14 October 2009
Register for the FREE Invest UK event to hear the electric interview with Northern Ireland First Minister Peter Robinson at 11.30am today.
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Andrews & Robertson sees Northern sales slow
25 September 2009
Andrews & Robertson saw its sale rate dip at its mixed residential and commercial auction on Tuesday.
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Auction coup for Pugh & Co
01 May 2009
Pugh & Co had its most successful sale in more than a year last Thursday
