News by Sector
All the latest property news, property market reports and expert analysis from every sector of the property industry.Finance & recovery
LaSalle sets up $1bn JV to target major properties
LaSalle Investment Management and Swiss fund manager Quantum Global have set up a $1bn fund to invest in large properties.
Gazeley on the block for £400m
The Middle Eastern owner of Gazeley is planning to sell the European industrial developer for more than £400m.
Growth at British Land slows dramatically
Growth in net asset value at British Land slowed dramatically in the last quarter of 2011, though the company said it was positioned to benefit from economic uplift.
Hotels & Leisure
Savills poaches JLL Hotel's senior vice president
Savills has poached one of Jones Lang LaSalle Hotels’ senior vice presidents.
Little Chef restructured to break "deadlock with landlords"
RCapital has completed the restructuring of roadside eatery Little Chef which has resulted in the closure of around 67 sites.
Jurys out on hotel chain cash injection
Jurys Inn owners aim to restructure debt, but sale is still possible
Residential
Slight but steady increase in private rented residential supply
The number of properties being bought with buy-to-let mortgages increased by around 84,000 in 2011 according to the Council of Mortgage Lenders.
DevSecs gets go-ahead for £150m Shepherd's Bush scheme
Development Securities has been given the green light for a £150m redevelopment around Shepherd’s Bush market.
Grainger reports sales 5.8% ahead of book value
Residential property owner Grainger has reported robust sales, with the disposal of vacant assets in the four months to the end of January 5.8% ahead of its September valuations.
Industrial
Gazeley on the block for £400m
The Middle Eastern owner of Gazeley is planning to sell the European industrial developer for more than £400m.
Prologis completes Project Teal sale to Blackstone
Prologis has sold a 3.5m sq ft shed portfolio to Blackstone for around £211.4m.
Cordea Savills buys Worcestershire warehouse
Cordea Savills, acting on behalf of The Charities Property Fund, has bought a large warehouse unit in Worcestershire in a deal worth more than £15m, TheBusinessDesk.com reported today.
Auctions
Allsop raises £37m at February commercial auction
Allsop has raised £37m at its February commercial auction, achieving a 75% success rate.
Distressed stock glimmer of hope for tough year ahead
Auction teams gear up for 2012, as report confirms declining sales in 2011. Rachel Hunter reports
Allsop prepares for new competition
Allsop kicks off the first round of commercial auctions for 2012 on 7 February, and will contend with new entrants to the market.
Land
Barwood and Development Securities set up land fund
Barwood and Development Securities have joined forces with a client of Aberdeen Asset Management to set up a £15m strategic land fund.
Canmoor motors ahead with trio of purchases
Industrial developer Canmoor has completed three transactions to buy a £28m warehouse portfolio and more than 25 acres of land.
Q+A: Guernsey’s Strategic Land Use Plan
The Strategic Land Use Plan is a statutory document prepared by the States of Guernsey and was agreed on in November after 10 years of debate.
News by Sector
Retail
DevSecs gets go-ahead for £150m Shepherd's Bush scheme
Development Securities has been given the green light for a £150m redevelopment around Shepherd’s Bush market.
UBS launches investment fund with £43m retail purchases
UBS Global Asset Management has launched a £200m investment fund, seeded by two retail properties.
British Land to sell 25% stake in Meadowhall shopping centre
British Land will put a 25% stake in the Meadowhall shopping centre in Sheffield up for sale alongside a 50% share currently being offered by London & Stamford and its Middle Eastern backers.
Investment
Malaysians line up £290m Woolgate buy
Malaysian wealth fund PNB Holdings is in exclusive talks to buy the Woolgate Exchange in the City of London for almost £300m.
Prologis completes Project Teal sale to Blackstone
Prologis has sold a 3.5m sq ft shed portfolio to Blackstone for around £211.4m.
Canadians negotiate over LandSec's £150m Victoria stake
Land Securities is in talks with Canada Pension Plan Investment Board (CPPIB) to fund its £1bn Victoria Circle development.
Offices
Malaysians line up £290m Woolgate buy
Malaysian wealth fund PNB Holdings is in exclusive talks to buy the Woolgate Exchange in the City of London for almost £300m.
BAM gets green light in Glasgow
BAM Properties has been granted planning consent for its 143,000 sq ft 110 Queen Street office building in Glasgow.
Strutt & Parker: National Offices and Business Parks Survey - Winter 2011/2012
Take up for 2011 totalled 4.38 million sq ft, a 6% improvement on 2010 levels and in line with the 5 year average. Take up was evenly distributed throughout the year with all quarters recording in excess of 1 million sq ft, a very similar pattern to 2010 with no single quarter out-performing significantly.
Deals done
UBS launches investment fund with £43m retail purchases
UBS Global Asset Management has launched a £200m investment fund, seeded by two retail properties.
One Hyde Park: £60m apartment sold and luxury retail on the market
One Hyde Park’s last five bedroom apartment has been sold, bringing the total volume of sales in the London luxury residential scheme to more than £1.5bn.
Cordea Savills buys Worcestershire warehouse
Cordea Savills, acting on behalf of The Charities Property Fund, has bought a large warehouse unit in Worcestershire in a deal worth more than £15m, TheBusinessDesk.com reported today.
Occupiers
Princesse Tam Tam reveals rollout
French lingerie brand Princesse Tam Tam is planning its first UK store, in London, in response to a perceived gap in the market.
Labour Party finds new HQ
The Labour Party plans to relocate its headquarters to Victoria, paving the way for British Land to revamp the party’s current offices nearby.
