News by Sector
All the latest property news, property market reports and expert analysis from every sector of the property industry.Finance & recovery
BlackRock property business doubles in size with MGPA buy
BlackRock has confirmed today that it is planning to acquire opportunity fund manager MGPA, as revealed by Property Week last month.
Big Yellow enjoys “a little more optimism” after profit increase
Storage company Big Yellow Group today reported an 8% rise in profit, as its chairman confided a little more optimism about the market than in previous years to shareholders in its annual results.
Cheesegrater 51% prelet after 111,000 sq ft deal
British Land and Oxford Properties have exchanged contracts with insurer Amlin to prelet 111,000 sq ft of space at the Leadenhall Building in the City of London, also known as the Cheesegrater.
Hotels & Leisure
Retail bodies hit out at "ridiculous" business rate delays
The Association of Convenience Stores, the British Council of Shopping Centres and the Distressed Town Centre Taskforce have waded into the debate around business rates with calls for a rethink on the revaluation delay.
Walkabout bar chain to expand with new backers
The Australian themed Walkabout bar chain is preparing to restart its UK expansion after securing new private equity backers.
Snoozebox founder leaves
The founder of portable hotel group Snoozebox, Robert Breare, has left the company after an alleged falling out with chairman David Morrison.
Residential
Cushman hires new head of residential from Jones Lang LaSalle
Cushman & Wakefield has enlarged its residential team in London by hiring two residential agents, including one partner, from Jones Lang LaSalle.
“Dragons’ Den” investor launches estate agency
The venture capital firm of “Dragons’ Den” investor James Caan, Hamilton Bradshaw Real Estate, has launched a Surrey-based estate agency called Ivy Gate.
Holyoake wins consent for 42 flats in Grosvenor Gardens
Westminster City Council has granted full planning permission to Mark Holyoake’s Oakvest for the conversion of a mansion block in Grosvenor Gardens formerly owned by David Pearl.
Industrial
Segro snaps up data centre duo in Slough
REIT wants to attract more “goldmine” occupiers to create “pan-European cluster” at trading estate. Stuart Watson reports
From Olympic media village to Infinity
Data centre operator to anchor digital hub as part of Icity joint venture with Delancey and legacy corporation. Stuart Watson reports
US data centre operators plug into UK as springboard to Europe
Greater London is experiencing a surge of interest from US operators seeking to expand into Europe’s data centre market.
Auctions
Doncaster retail park sold for £3.5m
Ambassador Holdings has sold Centurion Retail Park in Doncaster on behalf of Fixed Charge Receivers for a price in excess of £3.5m.
Acuitus raises £28.1m from February auction
Acuitus raised £28.1m in its first auction of 2013, held this month.
Savills auction raises more than £50m
Savills residential property auction yesterday raised more than £50m – a record for the property services firm.
Land
Masterplanners appointed at Wood Wharf
Allies and Morrison has been appointed by Canary Wharf Group to help create the masterplan for the proposed development of Wood Wharf, the company’s 20 acre site immediately east of Canary Wharf in central London.
Boris releases 32 acre site for 360 homes
London mayor Boris Johnson is selling a 32 acre plot of land for a £63.3m housing scheme in Dagenham – one of the first to be released as part of his plan to unlock development on public sector land.
Cushman & Wakefield boosts Turkish team
Cushman & Wakefield has appointed three new agents to boost its Turkish operations.
News by Sector
Retail
Retail bodies hit out at "ridiculous" business rate delays
The Association of Convenience Stores, the British Council of Shopping Centres and the Distressed Town Centre Taskforce have waded into the debate around business rates with calls for a rethink on the revaluation delay.
Alliance Boots launches Nottingham business incubator site
Alliance Boots has teamed up with BioCity, the UK’s bioscience incubation company, to set up a new business incubator site focused on health and wellness, called MediCity.
BRC warns business rates hamper store openings
The head of the British Retail Consortium has warned that high business rates are hitting store openings.
Investment
USS deal to buy Bath Southgate share collapses
The Universities Superannuation Scheme has pulled out of a deal to buy a 50% stake in the new Bath Southgate Shopping Centre for just under £115m.
Capstick-Dale to expand Lighthouse site
Nick Capstick-Dale’s UK Real Estate has bought a site neighbouring his Lighthouse building in King’s Cross which will allow him to work up an extended 50,000 sq ft scheme.
Met Police in 10m sq ft agency shake-up as it unveils 29 new disposals
The Metropolitan Police is planning a shake up of its retained property advisers, as it works to offload more than 3m sq ft of property over the next three years, PropertyWeek.com can reveal.
Offices
Knight Frank: Shanghai Offices Q1 2013
In the first quarter, Shanghai GDP growth reached 7.8%. Meanwhile, Shanghai fixed asset investment and real estate investment, particularly office property investment, grew at a rapid pace and remained attractive for domestic and foreign investors alike.
Topland relocates
Topland Group will move its London head office to the premises next door on Wigmore Street in London it was announced today.
Bird & Bird signs New Fetter Lane prelet
Great Portland Estates and the City of London Corporation have confirmed a prelet at New Fetter Lane to law firm Bird & Bird, as first tipped by Property Week in March.
Deals done
Ingall spins MBO
Financed by Pramerica, Allied London chief executive takes full control of Spinningfields as Delancey bows out
Land Secs announces Victoria start and NAV hike
Land Securities has today announced that work will start on the first phase of the Victoria Circle project in London.
Buyer picked for Lloyds’ Project Thames
A preferred bidder has been picked to buy Lloyds Banking Group’s £537m Project Thames loan portfolio.
Occupiers
Care home administrations reach all-time high
Increased failure rate blamed on government spending cutbacks.
Topland relocates
Topland Group will move its London head office to the premises next door on Wigmore Street in London it was announced today.
BT picks agent for overseas property management
BT has appointed a sole agent as its global property services provider.
