03 August 2012
Property Week
View all stories from this issue.
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D-day for £950m loan
03 August 2012
Lenders reject Propinvest’s restructuring proposal for regional portfolio
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Momentum builds in row over community infrastructure levy
03 August 2012
Councils’ plans for “two-tier” retail tax add to growing confusion over clauses in “badly drafted” legislation
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Profits bolster CBRE shares
03 August 2012
Second-quarter results show earnings exceeded market expectations
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Time for chief executives to take risks in return for rewards
03 August 2012
We ask a lot of our corporate leaders — and they ask a lot in return!
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US teachers’ pension fund celebrates harvest festival
03 August 2012
TIAA-CREF prepares to complete purchase of Basingstoke’s Festival Place mall
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£264m City office sold after nearly two years in receivership
13 August 2012
The London headquarters of one of America’s largest investment banks has been sold for £264m – almost two years after it went into receivership.
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Agents appointed to HS2
16 August 2012
HS2 Ltd, the operator of the £33bn High Speed 2 rail link project, has appointed five property agents to advise it on a range of issues.
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Ambitious vision for Tottenham 2025
03 August 2012
Homes, shops and transport are cornerstones of rejuvenation plan. Emma Haslett reports
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Amec signs for 50,000 sq ft in the North East
13 August 2012
Engineering consultancy Amec has signed a deal with Marchday to occupy 50,000 sq ft of office space at Lingfield Point business park in Darlington.
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American fund manager to buy £250m City gem
1 August 2012
A US fund manager has placed KanAm’s Winchester House in the City of London under offer for around £250m.
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Amway on Secure Kiev park
03 August 2012
Secure Property Development & Investment, formerly Aisi Realty Public, has let 55,238 sq ft at a logistics park in the Ukraine to Amway.
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Ask in £42m refinancing
6 August 2012
Manchester’s Ask Developments has refinanced £42m of Co-operative Banking Group debt that was due to mature in October.
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Auctioneer counts cost in case of mistaken identity
03 August 2012
The message: Auctioneers need to double-check the true ownership of properties they sell
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Axa announces first lettings at Sixty London and 1 St Paul’s
13 August 2012
A bar and restaurant group is to be the first tenant across 20,000 sq ft of space at two London schemes that are being speculatively developed by Axa Real Estate.
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Bam secures ViaSat for west London HQ
8 August 2012
Data security company ViaSat has completed a deal with Bam Property to occupy 52,000 sq ft at the developer’s Chiswick Green development in south west London, as revealed by PropertyWeek.com.
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Banks step up property loan portfolio sales
03 August 2012
Three loan portfolios with a face value of more than £1.5bn were in the final stages of being sold this week, as banks step up their sales process to try to reduce their exposure to the property sector.
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Bellway appoints new chief executive
7 August 2012
Bellway chief executive John Watson is to step down from his role and will be replaced by Ted Ayres, the housebuilder announced this morning.
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Betfred’s Manchester bet
03 August 2012
Betfred’s millionaire owners are preparing to submit plans for a 12-storey office property on Manchester’s St Peter’s Square.
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Bids prompt £200m City office sale
7 August 2012
A joint venture between a UK REIT and one of the world’s largest investment funds is getting ready to sell a £200m City office building after receiving a number of offers for the asset.
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Blackrock conquers Enfield’s Coliseum
03 August 2012
Blackrock has agreed to buy the Coliseum Retail Park in Enfield, north London, for £46m.
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Bluewater to undergo 375,000 sq ft extension
6 August 2012
Lend Lease has drawn up plans to extend the Bluewater shopping centre in Kent by 375,000 sq ft.
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BPF appoints new board members
10 August 2012
The British Property Federation has appointed two new board members.
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Braemar to manage £50m ground rents fund
13 August 2012
Braemar Estates has been appointed as property manager to a new residential Ground Rents Income Fund.
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Braemar to manage ground rents fund
13 August 2012
Braemar Estates has been appointed as property manager to a new residential Ground Rents Income Fund.
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BREEAM dream is over
03 August 2012
Sir, I recently looked around a prime central London office property — a temple to excess that would require the planting of half a Brazilian rainforest to offset its outrageous carbon footprint (“Keep your green promise or risk green court case”, professional, 06.07.12).
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Brent Cross ‘will not become Westfield North London’
03 August 2012
Hammerson is to push on with extension and Cricklewood scheme. David Hatcher reports
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British Land to offload Ropemaker Place
9 August 2012
Agents have been instructed to sell Ropemaker Place, the £500m former headquarters of Merrill Lynch near Liverpool Street Station, on behalf of British Land.
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Bruntwood secures major Manchester letting
8 August 2012
Developer Bruntwood has completed a 40,000 sq ft letting at one of its Manchester Science and technology schemes.
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Cap & Reg's German woes hurt first-half results
15 August 2012
Capital & Regional was hit by problems in its German portfolio in the first half of the year.
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Carlisle Lake District Airport expansion takes off
3 August 2012
Property and logistics group Stobart has been given approval by Carlisle City Council to go ahead with a £20m+ expansion at the city’s airport.
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CBRE and JLL must up game to bring home gold
03 August 2012
Global agencies CBRE and Jones Lang LaSalle reported solid, but unspectacular first-half 2012 figures this week (finance). However, in a tough market, question marks hover over the pair’s results.
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CBRE Global Investors secures £120m EDS mandate
13 August 2012
CBRE Global Investors has won a £120m pension investment mandate from EDS Trustee, and has bought four properties on behalf of the client for £18m.
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CBRE takes over French Connection disposals
7 August 2012
CBRE has been appointed by retailer French Connection to close 15 of its stores, taking over the disposal mandate from Ashley Phillips Lahaise.
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CBRE: The Case for Office Refurbishment in Dublin - July 2012
3 August 2012
The issues of depreciation and obsolescence have recently become more relevant for owners of Dublin office buildings.
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Cineworld expansion on track as profits jump
16 August 2012
Cinema chain Cineworld is on track to open a further 25 locations by the end of 2017, the company confirmed today in its half year results.
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CLS reports strong first-half figures
15 August 2012
CLS Holdings this morning proved once again that it is possible to make money in the secondary office market.
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CLS submits plans for new Midtown office
7 August 2012
CLS Holdings has submitted a planning application to the City of London Corporation to refurbish and extend an office block in London’s Midtown.
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Consortium signs development agreement for £110m town centre regeneration
16 August 2012
A consortium including developer Cathedral Group has signed an agreement with Swale Borough Council to regenerate Sittingbourne town centre over the next five years.
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Craig’s list of shop and change
03 August 2012
TfL’s new commercial development director talks about his strategy with Sarah Townsend
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Criterion Capital secures Trocadero hotel consent
15 August 2012
Criterion Capital was granted planning consent last night for a new pod-style hotel and residential scheme at London’s Trocadero.
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Crossrail plans 320,000 sq ft office scheme at Paddington
3 August 2012
Crossrail has submitted plans for a 320,000 sq ft mixed-use development at Paddington station.
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Crown poaches Savills director
16 August 2012
The Crown Estate has appointed Savills director Ken Jones as director of its rural and coastal portfolio.
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Crown poaches Savills director
16 August 2012
The Crown Estate has appointed Savills director Ken Jones as director of its rural and coastal portfolio.
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CSC secures planning consent for £180m Lakeside extension
3 August 2012
Capital Shopping Centres has secured planning consent for a £180m extension to its Lakeside shopping centre in Thurrock, which will increase the size of the mall by nearly a third.
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CSC signals intent to progress £200m Braehead extension
14 August 2012
Capital Shopping Centres has signalled its intent to submit a planning application for a £200m extension to its Braehead mall.
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D-day for £950m loan
03 August 2012
Lenders reject Propinvest’s restructuring proposal for regional portfolio
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Debenhams takes Lichfield store
15 August 2012
Debenhams has signed to open a 43,000 sq ft store at Orchard Street’s Three Spires Shopping Centre in Lichfield.
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Deichmann a shoe-in at The Mall Walthamstow
9 August 2012
German shoe retailer Deichmann has opened a 4,500 sq ft store at The Mall Walthamstow.
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Department for Communities and Local Government: Planning Statistical Release
14 August 2012
This Statistical Release presents National Statistics on authorities that undertake district and county level planning activities in England.
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Derwent takes slice of American pie
3 August 2012
Derwent London this week became the first of London’s REITs to tap a US institutional investor for debt.
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Deutsche-managed £387m fund closes door on investors
3 August 2012
A highly-leveraged £387m property fund managed by Deutsche Bank is proposing to bar investors from taking out their money for two years, as it moves towards restructuring its debt load.
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Developer wins Dagenham scheme by a Countryside mile
10 August 2012
The London Borough of Barking & Dagenham has selected Countryside Properties as the preferred developer to regenerate Goresbrook Village in Dagenham.
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Developers may get greater section 106 negotiating powers
13 August 2012
The government has launched a consultation that proposes giving developers greater scope to renegotiate section 106 payments in a bid to “kick-start” stalled schemes.
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Divide and keep open: courts rule differently north and south of border
03 August 2012
The 2012 State of the Retail Nation survey makes for sobering reading.
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Doppleganger tour de force
03 August 2012
Ludgate had to do a double take during the Tour de France last week.
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Drum roll please for Aberdeen business park
03 August 2012
Drum Property Group has obtained finance from a UK bank to develop the 350,000 sq ft Aberdeen business park that it is “forward selling” to F&C Reit Asset Management.
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DTZ appoints head of EMEA retail
10 August 2012
DTZ has appointed Adrian Powell, formerly its head of retail development, as head of EMEA retail.
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DTZ appoints head of EMEA retail
10 August 2012
DTZ has appointed Adrian Powell, formerly its head of retail development, as head of EMEA retail.
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DTZ’s owner posts 15% drop in net profit
13 August 2012
Shares in DTZ’s Australian owner UGL, dropped more than 10% today after the company reported a 15% drop in net profit.
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DTZ’s owner posts 15% drop in net profit
13 August 2012
Shares in DTZ’s Australian owner UGL, dropped more than 10% today after the company reported a 15% drop in net profit.
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Earls Court joint venture with Kwoks will proceed, says CapCo
03 August 2012
The legal investigation into Capital & Counties’ Hong Kong funding partners will not derail the joint venture to develop part of its huge Earls Court residential scheme, the company said on Wednesday.
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Europa Capital fund to hold €200m first close
14 August 2012
Europa Capital is aiming to hold a first close next month of €200m for its fourth opportunistic real estate fund, Europa Fund IV.
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Europa Capital fund to hold first close of €200m
14 August 2012
Europa Capital is to hold a first close next month of €200m for its fourth opportunistic real estate fund, Europa Fund IV.
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Ex-ING man bags Guernsey mall project
03 August 2012
Ian Pearce buys out former company’s share in £150m Leale’s Yard
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Facebook's Covent Garden HQ under offer
10 August 2012
Facebook’s Covent Garden headquarters is close to being sold for £60m-£65m.
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Famous £200m London hotel on the block
8 August 2012
One of Mayfair’s most prominent hotels is to be put up for sale for more than £200m by its listed owner.
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From riot to rejuvenation ...
03 August 2012
One year after Tottenham was set ablaze by rioters, Property Week revisits the north London neighbourhood and meets Alan Strickland, chairman of the mayor of London’s taskforce, and outspoken local Labour MP David Lammy, who are spearheading its rehabilitation.
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Gazeley agrees giant Magna Park deal
3 August 2012
Gazeley has agreed a deal with soft drinks manufacturer AG Barr to build it a new warehouse at Magna Park in Milton Keynes.
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Gazeley-ING joint venture grabs Spain by the horns
03 August 2012
Pair take advantage of county’s distressed property market to create logistics schemes
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German fund seals Union with Poland mall
03 August 2012
Hamburg-based Union Investment Real Estate has agreed a deal to buy the Manufaktura shopping centre in Lódz, Poland, for a price thought to be up to €400m.
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Global bond fund manager makes €239m Europe advance
03 August 2012
Pimco buys German property loan portfolio from the Bundesbank. James Whitmore reports
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Global Logistics Properties cheers growth in Asian markets
14 August 2012
Global Logistics Properties today posted an 18% rise in net asset value (NAV) for the year and a rise in second-quarter earnings of 57% (PATMI), in a strong set of results driven by growth in China and Japan.
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GM Real Estate raids rival City agencies for top dogs
03 August 2012
Firm poaches CBRE’s Dan Roberts and Jones Lang LaSalle’s Sam Boreham to lead leasing team
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Goodman to launch US joint venture with CPPIB
10 August 2012
Goodman group is to launch an $890m partnership with the Canada Pension Plan Investment Board (CPPIB) in the US.
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Goodman year for Aussie firm as profits rise 23%
10 August 2012
Australian industrial investor and developer Goodman has announced operating profits of AUS$463m (£312m) for the year to June 30, 23% higher than the same period last year.
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Grainger ramps up sales drive
9 August 2012
Listed residential landlord Grainger sold £202.1m of property in the 10 months to July 2012, up 13% on the previous year, as it continued to pay down debt and decrease the size of its portfolio.
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Green light for Shropshire foodstore plans
14 August 2012
Plans have been approved for a 54,724 sq ft foodstore development in Newport, Shropshire, in one of the first tests of the coalition’s “brownfield first” planning policy.
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Green light for University of Cambridge to develop £1bn scheme
9 August 2012
The University of Cambridge has been granted planning permission for its proposed mixed-use development in north-west Cambridge, which has an estimated end value of up to £1bn.
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Greggs plans further nationwide expansion
7 August 2012
Greggs, the bakery retailer, is on track to open 90 new shops in 2012 as sales growth continues to drive an aggressive expansion strategy.
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Greggs plans further nationwide expansion
7 August 2012
Greggs, the bakery retailer, is on track to open 90 new shops in 2012 as sales growth continues to drive an aggressive expansion strategy.
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Grim 12 months for HMV as sales slide
9 August 2012
Beleaguered retailer HMV today reported a drop in like-for-like sales of 12.1%, and a loss of £38.6m in the year ended 28 April.
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GVA: Business Parks - Responding to changing times - Summer 2012
14 August 2012
In the Summer 2012 edition of Business Parks, we explore the changing dynamics and movement away from pure office use, towards a range of alternative uses such as hotels, leisure and residential.
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Hammerson in £135m regional buy
10 August 2012
Hammerson has put under offer a 217,754 sq ft regional shopping centre in a strategic deal for the retail REIT, PropertyWeek.com can reveal.
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Hammerson retail chief departs
9 August 2012
Hammerson’s managing director of UK retail has handed in his resignation citing “family reasons”, and will leave the retail REIT at the end of September.
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Hammerson retail chief departs
9 August 2012
Hammerson’s managing director of UK retail has handed in his resignation citing “family reasons”, and will leave the retail REIT at the end of September.
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Handelsbanken doubles its north west head office
7 August 2012
Handelsbanken has agreed a deal with MAG Developments to double the size of its head office at Manchester airport.
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Hearthstone is where Barratt’s heart is
03 August 2012
Barratt Developments is to carry out a £22.5m show home sale and leaseback to the TH Hearthstone UK Residential Property Fund.
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Hot 100’s big night out
03 August 2012
Stellar turnout for the preview party of Property Week’s list of 100 rising stars under 35
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IJM buys Mint site
10 August 2012
Malaysian construction firm IJM Land has taken its first purchase in the UK market, acquiring a £365m mixed-use scheme on Royal Mint Street in east London.
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Ikea to develop European hotels
15 August 2012
Inter Ikea is looking to develop at least 100 “budget design” hotels across Europe.
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Internship brings valuable insights
03 August 2012
Property Week has adopted six University of Reading real estate students. This month, James Davies values his time in a valuation team
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Investec Securities: Housebuilders and Construction - Sector Review
14 August 2012
A review of play at the half-time break
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IPD: City office values past their peak
14 August 2012
Office prices in the City of London fell for the second consecutive month in July, indicating values in the sector may be past their peak.
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ITV picks winner for giant Manchester scheme
8 August 2012
A joint venture between Chelsfield and three former Amec executives is preferred bidder to buy ITV’s Quay Street site, one of Manchester’s largest mixed-use development opportunities, PropertyWeek.com can reveal.
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ITV shortlists three for Manchester’s Quay Street
3 August 2012
ITV is in talks with three shortlisted parties for the sale of its 13.5 acre Quay Street site in Manchester, including Chelsfield-backed Genr8 Developments and a subsidiary of Inter IKEA.
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JLL: Residential Eye Report 2012
3 August 2012
The UK housing industry is facing serious headwinds, both immediate and long-term, according to a report by JLL.
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John Lewis charging for views over Olympic Park
3 August 2012
John Lewis has started charging its customers to look out of its window overlooking the Olympic Park in Stratford.
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Jon Hunt launches luxury serviced office business
6 August 2012
Jon Hunt, the founder of estate agent Foxtons, has launched a luxury serviced office business.
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Jones Lang LaSalle suffers 1% dip after flat results
03 August 2012
Shares in Jones Lang LaSalle dropped on Wednesday after the world’s second-largest property services firm missed Wall Street expectations for second-quarter earnings.
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Judge dismisses McKillen's claims
10 August 2012
Irish investor Paddy McKillen has lost his case against the Barclay brothers in the struggle to control the hotel group containing Claridges, the Connaught and the Berkeley.
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Kennedy Wilson acquires 50% stake in Ireland office
16 August 2012
Kennedy Wilson has acquired 50% of an office building in Dublin for €15m, in its first office acquisition in the city.
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Kennedy Wilson and Deutsche buy Irish loan portfolio
14 August 2012
Kennedy Wilson and Deutsche Bank have made their first purchase for their new $2bn European real estate loan partnership.
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King of Clubs: Stephen Thomas
03 August 2012
Stephen Thomas plans to take clubbing back to its entertainment roots with new venture No Saints. Kat Spybey catches up with him the morning after he pulled an all-nighter in Birmingham. Portrait by Tim Foster
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Knight Frank: Care Homes - Trading Performance Review 2012
14 August 2012
The 2012 Care Homes Trading Performance Report is Knight Frank’s inaugural annual assessment of the key trends and financial drivers in the UK elderly care homes sector.
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KSL Capital Partners buys Belfry Hotel
6 August 2012
US-based private equity investor KSL Capital Partners has completed its deal to buy Sean Quinn’s Belfry Hotel in the West Midlands, as tipped by Property Week in May.
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KSL Capital Partners buys Sean Quinn's Belfry Hotel
6 August 2012
US-based private equity investor KSL Capital Partners has completed its deal to buy Sean Quinn’s Belfry Hotel in the West Midlands, as tipped by Property Week in May.
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Lambeth hunts for development partner for 300,000 sq ft scheme
7 August 2012
Lambeth Council has launched a search for a development partner for a 2.5 acre site it owns close to Brixton station, which could be transformed into a 300,000 sq ft mixed use scheme.
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Lancashire Pension Fund buys £18.7m Bury St Edmunds retail park
16 August 2012
Lancashire County Council Pension Fund, managed by Knight Frank Investors, has bought the St Edmundsbury Retail Park in Bury St Edmunds from Standard Life Investments for £18.7m.
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Land Securities gets planning for Ravenside extension
16 August 2012
Land Securities has secured planning consent for a 26,000 sq ft extension to its Ravenside Retail Park in Chesterfield.
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Land Securities to develop City tower
6 August 2012
Land Securities is in talks to develop a prime tower block in the City of London.
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Landlords scrap plans for Fitness First CVA challenge
8 August 2012
Plans for a legal challenge to Fitness First’s company voluntary arrangement (CVA) vote from a group of landlords have been ditched.
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LaSalle completes retail park fund acquisition
16 August 2012
LaSalle Investment Management has completed its acquisition of the Hercules Income Fund from British Land.
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LaSalle European head Lloyd-Hurwitz to leave for Australia
15 August 2012
Susan Lloyd-Hurwitz is to step down as European managing director of LaSalle Investment Management to join an Australian property company as chief executive.
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Lend Lease ramps up resi in London
10 August 2012
Lend Lease has announced plans to ramp up its residential offering in London.
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Lenders pull plug on £950m loan
8 August 2012
A £950m loan secured against a distressed secondary property portfolio has been called in by its lenders, in one of the biggest property insolvencies since the downturn, propertyweek.com can reveal.
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Liverpool to implement new LIP
3 August 2012
A new local investment plan for Liverpool has been signed by the Homes and Communities Agency and Liverpool City council.
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Lloyds picks buyer for £625m distressed loan sale
9 August 2012
Lloyds Banking Group has picked a preferred bidder in the sale of a £625m distressed loan portfolio, propertyweek.com can reveal, as the bank continues to reduce its boom time property legacy.
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London fashion designer blooms
03 August 2012
London-based fashion designer Fleur B has signed for a second store, at 20 Duke Street in the West End, as part of plans to grow to five sites in the capital in the next five years.
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Lunson Mitchenall’s agents of change
03 August 2012
Kilby becomes chairman as Wingrave steps up at retail specialist
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Mapeley lets 90,000 sq ft on Kingsway
3 August 2012
A London university has taken 90,000 sq ft of office space on London’s Kingsway in the latest in a glut of large lettings for Kingsway.
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MCD gets funding to start at Edgbaston
7 August 2012
MCD Developments has secured funding to enable it to develop the first phase of the £120m Edgbaston Square mixed use development in Birmingham.
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McKillen's claims against Barclay brothers dismissed
10 August 2012
Irish investor Paddy McKillen has lost his case against the Barclay brothers in the struggle to control the hotel group containing Claridges, the Connaught and the Berkeley.
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McLaren Property’s Paris Gardens student loan
03 August 2012
McLaren Property has secured a joint venture funding agreement with a London and Bahrain-based investment manager for its £45m Paris Gardens student halls scheme (pictured) on London’s south bank.
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MGPA exchanges at Docklands
03 August 2012
Private equity fund manager MGPA has completed one of the largest leasing deals this year in London’s Docklands.
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MGPA goes back down under
03 August 2012
MGPA is returning to its roots by opening a Sydney office.
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Middle Eastern giant to make £620m UK return
15 August 2012
A giant Middle Eastern sovereign wealth fund is set to make its first major investment in UK property since the downturn with a £620m distressed hotel deal.
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Middle Eastern giant to make £620m UK return
15 August 2012
A giant Middle Eastern sovereign wealth fund is set to make its first major investment in UK property since the downturn with a £620m distressed hotel deal.
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Midweek Bulletin: Fitness First's CVA challenge
8 August 2012
With the announcement today that landlords affected by the collapse of Fitness First in May had ditched plans to challenge the gym operator’s CVA vote, Property Week explores the ins-and-outs of the process.
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Morgan Stanley division puts own office into receivership
7 August 2012
A division of investment bank Morgan Stanley has brought in receivers to take control of a well-known Canary Wharf office building – let to Morgan Stanley.
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My 10-point plan to save Cameron’s government
03 August 2012
David Cameron’s government is in big trouble with voters, including many who supported him at the general election, and with the media who are giving him a caning
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Neighbourhood watch
03 August 2012
From behind its twitching curtains, Ludgate spotted an unlikely pair of neighbours at St Katharine Docks, the marina development next to London’s Tower Bridge.
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New front opens up in battle of squatters’ rights
03 August 2012
Judgment over Grow Heathrow considers breaches of human rights. David Hatcher reports
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New tax regime puts its stamp on prime properties
03 August 2012
New tax regime puts its stamp on prime properties
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Newham residential rents spiral
13 August 2012
Olympic borough Newham has experienced a 40% increase in rents during the past 12 months – the highest of any London borough.
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OBI Property wins Bureau Veritas mandate
9 August 2012
OBI Property has won a contract to manage the UK portfolio of Bureau Veritas.
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Olympic record
03 August 2012
Property Week wants you to tweet pictures of your Olympic Games escapades.
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Olympics woe for London Pleasure Gardens
6 August 2012
Newham Borough Council has pledged to find a new operator after administrators were appointed to London Pleasure Gardens, the temporary events venue at the Royal Docks in east London.
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Oro Gold sets South Molton Street record rent
6 August 2012
Cosmetics retailer Oro Gold has signed to open a store on South Molton Street, in London’s West End, setting a record rent for the street.
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Panic attack is no cure for hedging hangover
03 August 2012
The elephant in the room in many property debt restructuring meetings is the “mark to market” exposure on the derivative position accompanying the financing.
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Pears and DevSecs exchange on £100m NAMA portfolio deal
6 August 2012
Development Securities and The Pears Group have exchanged contracts on the purchase of a large mixed-use portfolio of properties once owned by Gerry Gannon, the prominent developer and top 10 NAMA debtor.
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People Moves: 3 August
03 August 2012
CBRE has hired Michael Atwell as head of capital markets for central and eastern Europe, based in Poland.
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People Moves: Prologis, CLS Holdings, Fox Williams and more...
03 August 2012
CBRE has hired Michael Atwell as head of capital markets for central and eastern Europe, based in Poland.
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PHOTO GALLERY: Your Olympics photos
3 August 2012
We asked the property industry to send in pictures of their Olympic experience.
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PHOTO GALLERY: Your Olympics photos
10 August 2012
We asked the property industry to send in pictures of their Olympic experience.
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Pickles’ Cheltenham intervention shows councils’ planning inefficacy
03 August 2012
Last month, Communities and Local Government secretary Eric Pickles gave the go-ahead to two schemes near Cheltenham that will contain a total of 1,000 houses.
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Planning consultant enters administration
9 August 2012
One of the UK’s largest planning consultants has gone in to administration.
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Podcast: BNP Paribas Real Estate's Cruickshank on London investment
13 August 2012
BNP Paribas Real Estate International Investment Director Andrew Cruickshank joined LBC’s James Max in the Property Week podcast studio in the run up to the Olympics.
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Pop-up selling quilts made by prisoners opens on Grosvenor Street
6 August 2012
A pop-up shop selling quilts made by prison inmates will open on Grosvenor’s London estate.
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Pramerica to pick up shopping for John Lewis
03 August 2012
Pramerica Real Estate Investors has been appointed by John Lewis Partnership Pensions Trust to increase its portfolio of UK property investments to £270m
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Prime central London resi rents drop 0.8%
11 August 2012
Rents fell by 0.8% in prime central London residential in July, according to new research from Knight Frank.
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Property bankers rebrand as “lenders”
9 August 2012
The Association of Property Bankers has changed its name to the Association of Property Lenders, in a bid to reflect the “changing shape of property finance”.
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Property Week Digital Edition - 03 August 2012
3 August 2012
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Propinvest hits back over £950m administration
9 August 2012
Propinvest today criticised the decision to put a portfolio it manages, which has an outstanding £950m loan, into administration.
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Q + A: Councillor Alan Strickland
03 August 2012
On the anniversary of last year’s riots, Property Week caught up with Councillor Alan Strickland, chair of the Tottenham Taskforce and Haringey’s cabinet member for economic development and social inclusion.
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Q+A: Tim Campbell’s Estate Office role
03 August 2012
He is best known for becoming Alan Sugar’s first Apprentice in 2005 but, since then, Tim Campbell has been busy.
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Quintain continues to reduce gearing
8 August 2012
Listed developer and fund manager Quintain Estates and Development today said it had received £90m of capital since April following key sales and development completions, which would be used to reduce the company’s gearing.
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Quintain sells off Wembley trophies to pay down debt
03 August 2012
Quintain is to sell assets at its Wembley City development to recycle capital and reduce its £535m of debt.
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RBS achieves the near impossible with property reduction
3 August 2012
Royal Bank of Scotland today revealed positive figures updating the market on its efforts to reduce its exposure to property.
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Rebase rates to help firms
03 August 2012
Sir, The government announced a further 15 “Portas Pilots” last week (PropertyWeek.com, 25.07.12).
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Redefine strikes deal on former Wichford debt
8 August 2012
Listed property company Redefine International has struck a deal with lenders to extend the maturity on a key loan facility.
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Reduce costs for resi REIT
03 August 2012
Sir, I agree with the comments from the British Property Federation (finance, 29.06.12). Any vehicle, whatever its tax status, will fail to attract investment if the returns are below what the market requires.
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Restaurant Property launches consultancy business
13 August 2012
Restaurant Property has launched a consultancy business headed by David Moore, a restaurateur and inspector on the BBC show The Restaurant.
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Retailers must pick up on benefits of ‘click and collect’
03 August 2012
Click and collect” is not a new phenomenon, but the growth of its popularity among consumers is paving the way for it to be seen as playing a key role in the changing face of high streets and shopping centres.
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Revealed: details of the Montague Review
13 August 2012
A long-awaited Government review into kickstarting the private rented housing market is expected to recommend local authorities waive affordable housing requirements on selected private rented schemes in a bid to encourage institutional investment into the sector.
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Revealed: details of the Montague Review
13 August 2012
A long-awaited Government review into kickstarting the private rented housing market is expected to recommend local authorities waive affordable housing requirements on selected private rented schemes in a bid to encourage institutional investment into the sector.
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Rights of light row won’t go out
03 August 2012
Sir, Rights of light is clearly a controversial issue, particularly in relation to the use by the City of London of section 237 of the Town and Country Planning Act 1990 (analysis, 29.06.12).
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RREEF snaps up £56m retail duo
6 August 2012
Fund manager RREEF has bought a pair of prime UK retail assets for its German clients.
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Salmon Developments builds London's first Starbucks drive-thru
6 August 2012
Salmon Developments and Aker have completed the development of London’s first drive-thru Starbucks and the UK’s biggest drive-thru KFC.
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Savills' fee income drops
9 August 2012
Lower transaction income led to a 4% drop in profits at Savills for the first half of 2012, as increased revenues from property management went some way to plugging the gap.
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Savills' transactional income drops
9 August 2012
Lower transactional income led to a 4% drop in profits at Savills for the first half of 2012, as increased revenues from property management went some way towards plugging the gap.
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Schroders lands IMG at Stockley Park
8 August 2012
Sports media company IMG has placed 114,000 sq ft of office space under offer at Schroders’ 5 Longwalk at Stockley Park, near Heathrow.
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Scotch & Soda takes first two UK stores
16 August 2012
Amsterdam-based fashion brand Scotch & Soda has signed to take its first two stores in London.
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Segro and Roxhill Rugby club
03 August 2012
Industrial developers Segro and Roxhill have teamed up to buy part of an urban extension to the town of Rugby.
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SFO to continue Robert Tchenguiz scrutiny
03 August 2012
The Serious Fraud Office this week vowed to continue its investigation into Robert Tchenguiz with “renewed focus and vigour” after the High Court ruled the warrants it used to raid his premises were unlawful.
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Singapore investor buys Cavendish Hotel
3 August 2012
Singapore-based company Ascott Limited has bought the Cavendish Hotel London for approximately £160m.
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Sociable interns bag their placements
03 August 2012
The winners of Sociable Surveyors’ 2012 global internship scheme were named at an awards evening at law firm Allen & Overy’s Bishops Square office in the City of London on 19 July.
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Squarestone Brasil agrees Golden Square joint venture
6 August 2012
Squarestone Brasil, the Brazilian arm of UK developer Squarestone, has agreed a joint venture with Ancar Ivanhoe for its Golden Square shopping mall in São Bernardo do Campo, greater São Paulo.
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SWIP boosts fund by 65% since grabbing Invista mandate
9 August 2012
Scottish Widows Investment Partnership has increased the size of its HIFML UK Property fund by 64.9% since winning the mandate in May last year.
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Take three … schemes to bring Tottenham back to life
03 August 2012
Property Week takes a look at three schemes in Tottenham
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Team NZ in fern form for London 2012
03 August 2012
Property folk have been keen to show their patriotism during this month’s Olympics, but not many have gone as far as Evans Randall chief executive Kent Gardner.
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Terra Catalyst bites the dust
03 August 2012
Recession-ravaged Laxey fund set up to buy underperforming property shares faces early termination
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Tesco rolls out latest housing range in London’s Fulham
03 August 2012
Retailer to develop 750 homes in capital over next two years. Emma Haslett reports
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The Property Lexicon
03 August 2012
Bottom-fisher /’b?t?mfi??r/n. Investor that looks for high returns by buying secondary or distressed assets.usage: Agent A: “Cor, that’s a prime bit of real estate. Do you reckon Joe Bloggs would give it a go?” Agent B: “Nah, he’s more of a bottom-fisher.”
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Time called on Warner Estate
03 August 2012
Lenders pushing 150-year-old company to sell off assets to repay debt, which could lead to delisting
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Topland's trio of office deals
16 August 2012
Topland Group has bought three office buildings in Bristol, Harlow and Stevenage for a total of £11.8m, bringing its total investment in the past four weeks to more than £24m.
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Track upgrades promise faster journey times … and headaches for landowners
03 August 2012
The government announced new investment of £4.5bn earlier this month to upgrade the nation’s railway infrastructure between 2014 and 2019.
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Travelodge CVA being considered
13 August 2012
Travelodge’s owners have appointed KPMG to advise on how the business can be restructured to manage its £500m debt pile, and are considering a company voluntary arrangement.
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Tristan and Allianz secure €210m Warsaw Financial Centre
14 August 2012
A joint a venture between Allianz Real Estate and a Tristan Capital Partners-managed fund has bought the Warsaw Financial Centre for €210m, as revealed by Property Week.
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UK domination is Canadian’s Goal
03 August 2012
Five-a-side operator’s owner wants to quadruple number of centres. Rachel Hunter reports
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Unite sells off £26m of digs
10 August 2012
Student accommodation provider Unite has sold off two non-core assets in deals worth £26m.
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US-Asian fund buys £150m City office
3 August 2012
A US fund backed by Asian investors has bought a well-known office in the City of London that was secured by Lehman Brothers debt.
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West End bucks falling property values
8 August 2012
The falling value of UK commercial property slowed to a drop of just 0.3% last month, as values in Central London improved.
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Westfield rides UK retail storm
15 August 2012
Australian shopping centre giant Westfield’s UK portfolio remained broadly flat in the past six months, as the company weathered the choppy retail environment.
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Whittaker's Peel Group buys Lowry Outlet Mall
13 August 2012
John Whittaker’s Peel Group has completed a deal to buy the Lowry Outlet Mall in Salford Quays, as tipped by Property Week in February (17.02.2012)
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Yalla Yalla wants London sites in a hurry
03 August 2012
Lebanese street food restaurant Yalla Yalla plans to open at least four more sites in the next 18 months across London.
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Yorkshire Post HQ sale prompts 35,000 sq ft Leeds move
6 August 2012
The Yorkshire Post and Yorkshire Evening Post newspapers are to take 35,000 sq ft of office space at an office building in Leeds, after deciding to sell their current headquarters on Wellington Street.
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Young property guns mingle with other sectors
03 August 2012
Royds solicitor Alison Ayre welcomed more than 70 attendees to the launch of her new networking group Young Professionals in Property (YPIP) at the Flemings hotel in Mayfair on 19 July.
