News
Argent of change: development company restructures
“Old guard” Madelin and Partridge set up limited liability partnership so younger generation can take over
Tchenguizs hammer SFO
Serious Fraud Office admits that Vincent may no longer be considered suspect in Kaupthing investigation
Berkeley becomes Principal player at Hammerson scheme
Pidgley pounces on another prime London residential site, becoming frontrunner for City fringe tower
Carlyle floats 1m sq ft Blackfriars makeover
Private equity firm to create more than 1m sq ft in schemes at south of bridge
Finance & Recovery
Great Portland clear for take-off after rights-of-light deal
REIT makes multimillion-pound settlement with Ryanair boss O’Leary over Fetter Lane scheme
Crow of delight as Texans take helm and increase revenue at CBRE
CBRE’s $1.9bn debt-financed, top-of-the-market acquisition of Texas firm Trammell Crow in December 2006 initially caused considerable financial pain post-credit crunch.
British Land results pack a punch, thanks to prelets
Portfolio value up 2.6% to £10.3bn after CEO’s London office development drive
Shaftesbury swinging back into action in Carnaby village
Shaftesbury is to begin construction within the next year of two schemes in its Carnaby “village” in London.
Analysis
Industrial Scale: Prologis chief Hamid Moghadam
Prologis chief Hamid Moghadam talks to Patrick Gower about the creation of the world’s biggest property company by portfolio size. Photographs by Trent McMin
Relax the rules so resi REITs have a fighting chance
The 12-week consultation on social housing REITs does not close until 27 June, yet already there is a plan for the first social housing REIT to list on AIM in September.
Compulsory resolution to Croydon face-off
Embarrassment continues to spread in the property industry over the antics of the freeholder and leaseholder of Croydon’s Whitgift Centre — the big shopping destination in the 1970s for anyone growing up in the south-east.
Westfield’s gift to the people of Croydon
Late last year we partnered with the Whitgift Foundation to begin the work on a retail and leisure scheme at the Whitgift Centre in Croydon, south London, which we hope will replicate and even surpass the success of our Westfield London and Stratford City schemes.
Markets
Steinhoff gazumps Network Rail at giant Magna Park shed
Furniture retailer trumps track operator’s £25m bid. Stuart Watson reports
Yorvale and Maple Grove savour first shed purchase
Yorvale and Maple Grove Developments have purchased a first industrial development site for their new joint venture partnership.
Caterpillar spreads wings in Durham
Expansion planned as production returns to pre-recession rates. Stuart Watson reports
Top-flight tenant at Segro's X2
Segro has signed a second letting on the top deck of its two-storey X2 distribution building (pictured) near Heathrow airport.
Professional
Need to know: lease renewal test case
The latest decision in a protracted case between UK ports operator Associated British Ports (ABP) and its tenant, Humber Oil Terminals Trustee, will make it easier for a landlord to stop a commercial tenant renewing its lease if it plans to occupy the premises for its own purposes. Sarah Townsend reports
Make no mistake: expertly drafted leases can’t be rewritten
The message: The court will not readily correct documents drafted by experienced and skilled solicitors.
Getting green light to rebuild from scratch can be challenging
It has been a bad time for insurers lately, with significant worldwide losses caused through natural disasters, such as the New Zealand earthquake last February.
Squatting criminalised
Squatting in residential premises is now a criminal offence, as the Legal Aid, Sentencing and Punishment of Offenders Bill gained royal assent this month.
Professional - Public Sector
Regeneration champion renews interest in energy
Dagenham Dock sustainable park clustering is best model for councils. Sarah Townsend reports
Need to know: crunchtime for PFI
This summer, the government will issue its response to a consultation on the future of the much-criticised private finance initiative (PFI) funding model. What are its chances of survival?
