13 July 2012
Property Week
View all stories from this issue.
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"East End legacy makes London Olympics winner"
13 July 2012
There are two weeks to go before the opening ceremony on 27 July of the London Olympics.
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"London has delivered on all its Olympic Games bid promises"
13 July 2012
This is it. The biggest property event of our careers is just two weeks away.
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"London has delivered on all its Olympic Games bid promises"
13 July 2012
This is it. The biggest property event of our careers is just two weeks away.
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"Tech City" concept wins Olympic media centre
17 July 2012
The London Legacy Corporation’s board today awarded “preferred bidder” status to a Delancey-backed proposal for the 1m sq ft Olympic media centre.
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"The anti-Trump who shows his stuff on the street"
13 July 2012
To the chagrin of long-established developers, Manhattan has become Extell Island.
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"The games are also about brand London"
13 July 2012
With just two weeks left until the Olympics, as a nation, we should already be proud.
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£50bn infrastructure investment announced
18 July 2012
Chancellor George Osborne has today pledged to underwrite £50bn of investment in flood defence infrastructure, in a move that has been welcomed by the property industry.
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1 - Fawn James, director, Soho Estates
17 July 2012
She is the biggest landlord in Soho, having inherited more than 60 acres of prime property in the West End from her grandfather, Paul Raymond.
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2 - Simon McCabe, director, Scarborough Group International
17 July 2012
The 34-year-old McCabe is at the helm of Scarborough Group International, which has a portfolio of mixed-use assets as far north as Inverness and as far south as Exeter.
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3 - John Maddison, head of retail warehouse asset management, British Land
17 July 2012
Maddison, 30, is responsible for 9m sq ft of space — nearly twice as much as any other landlord.
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4 - Anil Khera, principal, real estate team, Blackstone
17 July 2012
Khera, 34, is the man to “dial for the money”, putting together the finance for Blackstone’s property acquisitions in the UK and Europe.
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5 - Nick Cuff, chairman, planning applications committee, Wandsworth Borough Council
17 July 2012
Cuff, 30, is a development manager at Essential Land, but is perhaps better known for his role at Wandsworth Borough Council.
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A fish tale
13 July 2012
My great grandfather, Harry Forman, came to settle in east London from Russia almost 100 years ago.
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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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Armani Exchange in Guildford
19 July 2012
Armani Exchange has taken a store at The Friary shopping centre in Guildford, Surrey.
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Axa sells Eversheds' Birmingham office to Israeli firm for £32m
17 July 2012
AXA Real Estate Investment Managers has completed the sale of 115 Colmore Row in Birmingham for £32.2m to the Israeli CLAL Insurance Enterprises Holdings.
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Bargain hunters hit Hatton Garden
13 July 2012
Loan expiry at 120 Holborn next week prompts offers
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BBC selects TV Centre developer
13 July 2012
The BBC has selected Stanhope as preferred bidder to buy its Television Centre site in West London.
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BBC Television Centre sale exchanges
16 July 2012
The BBC has exchanged contracts for the sale of Television Centre in White City for around £200m.
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Be prepared: planning for the Olympics
13 July 2012
London’s landlords and occupiers make ready for Olympic onslaught. Rachel Hunter reports
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Be prepared: planning for the Olympics
13 July 2012
London’s landlords and occupiers make ready for Olympic onslaught. Rachel Hunter reports
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Berkeley sets up home in Hong Kong and Singapore
13 July 2012
Developer’s Asian offices will target growing numbers of Far Eastern buyers of central London property
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Blackstone prepares to offload $22bn American office portfolio
13 July 2012
Blackstone is considering selling its portfolio of more than 100 office buildings in the US, which is valued at as much as $22bn.
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British Land and Hammerson clash at Meadowhall over out-of-town Next
13 July 2012
Plans to develop a Next Home and Garden store next to Meadowhall Shopping Centre have been opposed by Hammerson, which proposes a scheme in central Sheffield.
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Caffè Nero opens Bluewater ‘caff’
13 July 2012
Caffè Nero has opened a new concept store that aims to mimic a high street cafe, at Bluewater shopping centre in Kent.
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Cap & Reg Mall Fund dips 2%
13 July 2012
Capital & Regional has reported a 2% decline in the value of its Mall Fund for the three months to 30 June.
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Carnival’s next stop
13 July 2012
David Hatcher looks ahead to Rio 2016
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CBRE is master of alternative universe
13 July 2012
CBRE Global Investors is the world’s largest “alternative” investment manager with $94bn of assets under management, as real estate beats private equity and hedge funds as the most popular “alternative” asset class (table, below).
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Central London prices reach new high
13 July 2012
Central London property prices reached a new high in June, with prices rising 0.8%, according to the latest prime central London index from Knight Frank.
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Co-op confirms sale and leaseback plans
13 July 2012
The Co-operative Group has confirmed it is planning a £150m sale and leaseback of its new headquarters in Manchester as revealed by Property Week on 01.06.12.
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Council rejects housebuilders’ challenge to new tax
17 July 2012
Bristol City Council has upheld its Community Infrastructure Levy following a challenge by housebuilders.
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Crown Estate completes £87m Bafta HQ purchase
17 July 2012
The Crown Estate has completed its purchase of the Bafta HQ in St James’s, London, for £87m.
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Cushman adds to leisure team
19 July 2012
Cushman & Wakefield has appointed Matthew Ashman as a senior surveyor in its UK leisure and restaurants team.
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Deal to forward fund £60m Sydenham retail park collapses
19 July 2012
A deal by the Strathclyde Pension Fund to forward fund the development of a £60m retail and industrial park in Sydenham, south London, has collapsed.
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Delancey makes 1m sq ft Olympic play
16 July 2012
Delancey is the property backer of ICity, the frontrunner to buy the 1m sq ft International Broadcast Centre and Main Press Centre following the Olympic Games, PropertyWeek.com can reveal.
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Deutsche backs Brockton Mayfair residential project
13 July 2012
Refinancing precedes fund manager applying for planning consent at Curzon Street
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Deutsche’s €2bn loan tie-up
13 July 2012
Kennedy Wilson, the global real estate firm, has teamed up with Deutsche Bank to buy €2bn of European property loans.
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Developers picked for Olympic Park homes
19 July 2012
Taylor Wimpey and registered social landlord London & Quadrant have been selected to develop the first tranche of houses at the Chobham Manor scheme at London’s Olympic Park.
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Developers picked for Olympic Park homes
19 July 2012
Taylor Wimpey and registered social landlord London & Quadrant have been selected to develop the first tranche of houses at the Chobham Manor scheme at London’s Olympic Park.
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Dukelease and BA Pension Trustees scheme gets clearance for take off
18 July 2012
A joint venture between Dukelease and British Airways Pension Trustees has been granted planning permission for a mixed-use scheme at 61 Oxford Street in London’s West End.
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Edinburgh property snapped up for £2.9m
17 July 2012
Grovemoor Properties has sold 106-108 George Street, an office and retail scheme in Edinburgh, for £2.9m.
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Ethel Austin back in administration
18 July 2012
North west fashion retailer Ethel Austin has collapsed into administration today for the fourth time.
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Fashion Hub withdraws from Olympic media centre race
13 July 2012
The UK Fashion Hub has officially withdrawn its bid to occupy the press and broadcast centres in the Olympic Park, it announced this afternoon.
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Financing for Almacantar's CAA House and Kemble Street purchase agreed
13 July 2012
Crédit Agricole CIB and Deutsche Postbank have helped to finance Almacantar’s purchase of CAA House and 1 Kemble Street in Kingsway.
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Footasylum on road to rehabilitation
18 July 2012
The co-founders of the JD Sports empire have hailed a “step change” in the performance of their Footasylum sports and fashionwear business.
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Fresh images of Shell Centre revealed
18 July 2012
The joint developers behind the redevelopment of the Shell Centre on the South Bank, Qatari Diar and Canary Wharf Group, have today revealed fresh images of the proposed scheme.
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FSA eyes ‘shadow banking’ curbs
13 July 2012
Regulation could affect amount of new debt for market and sale of new loan portfolios
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FSA lifts lid on crippling missold property interest rate swaps
13 July 2012
Investors hurt by Barclays, HSBC, Lloyds and RBS now claiming compensation. Mike Phillips reports
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FT appoints agent for property review
13 July 2012
The Financial Times has appointed DTZ to review its property options.
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Fun and games: Property Pub Olympics
13 July 2012
Team DTZ went head to head with team Knight Frank at the Property Week International Pub Olympics. David Doyle reports. Photographs by Matt Leete
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Gazeley gets go-ahead on first rail connected shed
17 July 2012
Gazeley has received detailed consent to build an 850,000 sq ft rail-connected warehouse at G Park Ashby de la Zouch in the East Midlands.
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Germany’s biggest-ever refinancing
13 July 2012
The giant German residential property landlord owned by Terra Firma this week submitted a plan to its lenders for Europe’s biggest-ever property refinancing, in preparation for flotation.
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Giant regional portfolio in receivership
18 July 2012
A regional office portfolio once valued at £244m and owned by one of the UK’s biggest private equity-backed property companies has been put into receivership.
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Giant Tchenguiz residential business in line for breakup
13 July 2012
Vincent Tchenguiz’s residential ground rent business, which he has valued at £3.5bn, is to be broken up, with a major UK institution set to buy a portion of it.
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Government mulls Penfold planning suggestion
16 July 2012
Government proposals to simplify the administration of development consents such as highways orders have been welcomed by the property industry.
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GRANDSTAND DESIGNS
13 July 2012
From colossal structures to stadia that prompted widespread regeneration, can the London legacy compare with that of past Olympic sites? Victoria Ellaway reports
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Great Portland finds debt from new source
18 July 2012
Great Portland Estates has refinanced one of its joint ventures, with debt from an increasingly important source for the property market.
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Greenwich game time
13 July 2012
Royal borough will provide historic backdrop for the equestrian events and plenty of shopping for visitors. Hardeep Sandher reports
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Grosvenor raises £90m in US bond issue
19 July 2012
Grosvenor has raised £90m through a bond issue on the US market.
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GVA leads barracks contractor search
19 July 2012
GVA has been instructed by the Defence Infrastructure Organisation to find a contractor to manage the regeneration of the Deepcut barracks in Surrey.
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Hammerson alliance speaks out as battle for Croydon heats up
19 July 2012
Hammerson and its partners have sent a bullish letter to the freeholder of the Whitgift Centre in Croydon urging it to drop their rival Westfield and join forces, but warning that legally they believe the freeholder would struggle to stop their plans.
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Hammerson exchanges on office portfolio
19 July 2012
Hammerson has exchanged contracts with Brookfield Office Properties on the £518m sale of three-quarters of its London office portfolio, as revealed by Property Week in June.
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Henderson buys French asset management firm
17 July 2012
Henderson Global Investors has bought Horizon Investment Management France SAS, in a bid to grow its French portfolio.
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Hermes assembles Guildford Friary site
13 July 2012
Hermes Real Estate Investment Management has taken a step closer to developing a 400,000 sq ft extension to its Friary Shopping Centre in Guildford, after buying a site within the development area and appointing architects.
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HOT 100 - Runners-Up
18 July 2012
Here is a full list of nominations that didn’t quite make it to the Hot 100
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HOT 100: The rising stars of 2012
17 July 2012
Find out who are the most successful under-35s in the property industry
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Hotelier buys Paris star haunt Lancaster
13 July 2012
The five-star Hotel Lancaster in Paris is believed to have been sold for €60m to French owner-operator Pierre Esnee.
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Hotels overlooking Olympic Park up for sale at around £65m
18 July 2012
Two hotels overlooking the Olympic Park and Westfield Stratford have been put up for sale for around £65m.
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InfraRed goes live in Norwich
13 July 2012
InfraRed Capital Partners has bought the Castle Mall shopping centre in Norwich from the Mall Fund for £77.3m — an initial yield of 7.8%.
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Investment company secures loan for Bradford buys
17 July 2012
A new property investment company has bought a series of addresses in Bradford and Hull after securing a £1.3m loan.
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JJB Sports in talks for further funding
19 July 2012
RETAILER JJB Sports has said it is in talks to gain further funding following poor summer sales, which it has blamed on the bad weather.Like for like sales for the 24 weeks ended 15 July decreased by 8.7% and cash margin decreased by 16.6%.
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JLL Report: global retail banking: key trends for retail estate
16 July 2012
The global retail banking environment will continue to be driven by political, economic and technological trends, says a report by JLL.
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JLL: NYC investment sales rise while transaction volumes slow
16 July 2012
Jones Lang La Salle’s New York capital market group reported that Q2 investment sales figures are up on Q1, however transaction volume has slowed considerably.
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Junction whets investor appetites
13 July 2012
Hammerson, Blackstone and Pradera with Brockton Capital in the running
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Kwok brothers face corruption charges
13 July 2012
The heads of Hong Kong’s largest property company, Thomas and Raymond Kwok, have been charged with bribery offences by Hong Kong’s Independent Commission Against Corruption agency (ICAC), it was announced today.
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L&G appoints sustainability manager
13 July 2012
Legal & General Property has appointed Debbie Hobbs as sustainability manager to lead further development and integration of the sustainability agenda at the company.
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Land Secs reports strong lettings progress
18 July 2012
Land Securities this morning announced strong lettings progress across its portfolio, despite a slight rise in voids as visitors to its shopping centres declined.
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Land Secs Victoria lettings gather pace
17 July 2012
Land Securities has let another 35,000 sq ft floor at its forthcoming 123 Victoria Street scheme, and is thought to be in negotiations with tenants on the rest of the building.
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Land Securities Victoria lettings gather pace
17 July 2012
Land Securities has let another 35,000 sq ft floor at its forthcoming 123 Victoria Street scheme, and is thought to be in negotiations with tenants on the rest of the building.
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LandSecs lettings strong despite retail visitor dip
18 July 2012
Land Securities this morning announced strong lettings progress across its portfolio, despite a slight rise in voids as visitors to its shopping centres declined.
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Legal & General to sell CBRE City HQ
16 July 2012
Legal & General Property is selling the City headquarters of CBRE for more than £100m after a number of approaches for the building.
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Leon founders bond with customers for high street rollout
13 July 2012
Fast food chain Leon is planning to double its restaurants over the next three years, using funds raised by a bond that is being offered to customers.
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Let the legacy begin ...
13 July 2012
Emma Haslett and Nick Johnstone chart the transformation of the Olympic Park
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Lloyds and Co-op agree Verde price
19 July 2012
The Co-operative Group has announced it will pay £750m for 635 branches from Lloyds Banking Group.
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Mapping out a modern metropolis
13 July 2012
Property Week and Aecom’s Cities of the Future report reveals how the urban landscape needs to adapt to grow over the next 25 years
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Max Studio signs for London Designer Outlet
20 July 2012
US fashion retailer Max Studio has signed to open its second UK store at the London Designer Outlet in Wembley.
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Mayad Rassam “I met a client who had such a complex hedging structure, it took two days to model fully”
13 July 2012
Swaps have received much attention in the national press, mostly negative and focusing on high street banks misselling hedging products to small and medium-sized businesses, so-called non-sophisticated customers.
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MGPA refinances €190m Le Madeleine in Paris
17 July 2012
MGPA has completed a €190m refinancing of Le Madeleine, an office and retail scheme located in Paris.
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Mountgrange in £184m regional play
18 July 2012
Opportunity fund manager Mountgrange Investment Management is set to buy one of the biggest regional property portfolios put up for sale since the beginning of the downturn.
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Moylan out of the starting blocks
13 July 2012
New chairman of London Legacy Development Corporation speaks exclusively to Property Week International
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Multi wants early Bath exit from Southgate
13 July 2012
European shopping centre developer Multi Development is preparing to sell its half-share in the Bath Southgate shopping centre for a second time.
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Never Never Land
13 July 2012
The Olympics and planning reforms are giving investors inflated hopes of making a quick buck. Sarah Stewart reports.
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New Olympics blocks in Poplar
13 July 2012
Regen, Willmott Dixon’s development arm, has joined forces with a housing association to develop 1,200 homes at an unloved estate 2 miles from the Olympic Park.
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New Outfit prompts makeover for Perth retail park
13 July 2012
Pradera and the European Property Investors Special Opportunities fund are poised to undertake a substantial redevelopment of St Catherine’s Retail Park in Perth into a shopping park.
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New York label to land in London
13 July 2012
John Varvatos appoints CWM to follow Tom Ford and other American brands in setting up shop in capital
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Nine Elms on the line
13 July 2012
Councils want £1bn for Northern Line extension. Hardeep Sandher reports
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Olympic gold coast
13 July 2012
Ben Ainslie will be going for gold at the Olympic sailing venues that have regenerated Weymouth and Portland. Sarah Stewart reports
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Olympic media centre to be transformed into high-tech hub
13 July 2012
ICity to make use of bandwidth and power supply as part of government TMT drive
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One of Germany's biggest-ever busts
13 July 2012
A German retail portfolio secured by €331m of debt provided by the Royal Bank of Scotland went into bankruptcy last Friday, in one of the largest German property insolvencies of the downturn so far.
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Orion and Quadrant buy London development site
16 July 2012
Orion Capital Managers and Quadrant Estates have completed the purchase of an empty building on the banks of the Thames that will be redeveloped into a £120m office.
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Palmer beneficiary seeks new angles for development
13 July 2012
If you’re a developer with a wealthy backer, then there is not just good, but very good money to be made today.
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Palmer faces contest for Invista
13 July 2012
Palmer Capital’s hold on Invista Real Estate Investment Management weakened this week when a rival real estate private equity firm entered the battle to buy the fund manager.
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Palmer takes a Vue on Birkenhead …
13 July 2012
One of few backers of development in UK today buys two sites for Opus North and Angle Property
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Pleasure time
13 July 2012
Crowds swarm to London Pleasure Gardens at the Royal Docks — the biggest success yet in Property Week’s Site Life campaign. Lee Mallett reports. Photographs by Tim Foster
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Pleasure time: An afternoon at the London Pleasure Gardens
13 July 2012
Crowds swarm to London Pleasure Gardens at the Royal Docks — the biggest success yet in Property Week’s Site Life campaign. Lee Mallett reports. Photographs by Tim Foster
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Positive Altitude
13 July 2012
Newly launched asset manager to focus on West Country where there is “incredible potential for growth”. Sarah Stewart reports
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Primark agrees 90,000 sq ft prelet
18 July 2012
Primark has agreed a 90,000 sq ft prelet at thecentre:mk for the anchor store within a £40m proposed extension.
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Property Week Digital Edition - 13 July 2012
13 July 2012
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Property's Olympians
13 July 2012
Hardeep Sandher speaks to the agent, developer, surveyor and lawyer who all lived the Olympic dream
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Put on your spectacles: London's corporate pavilions
13 July 2012
London 2012’s corporate sponsors have built dramatic pavilions to celebrate their presence in the Olympic Park. Sarah Townsend reports on some of the most eye-catching creations
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Raven Russia completes double deal in Moscow
18 July 2012
Raven Russia has signed two deals worth more than $70m near Moscow.
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Restaurant Group gets into bed with hotels
13 July 2012
Leisure agency Restaurant Property has launched a hotel division in response to approaches from clients.
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Riotous assembly: raising Croydon's profile
13 July 2012
Developers are preparing sites to change Croydon’s image from crime spot to retail and business haven. Hardeep Sandher reports
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San Carlo flagship gets facelift
18 July 2012
Family-owned restaurant group San Carlo is to spend £700,000 on an upgrade of its Manchester site.
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Schroder REIT NAV slips
17 July 2012
Schroder Real Estate Investment Trust’s net asset value dipped slightly to 50.6p over the last year.
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Scottish Power selects developer for Glasgow scheme
19 July 2012
Scottish Power has selected its preferred developer to deliver its 220,000 sq ft headquarters in Glasgow, propertyweek.com can reveal.
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Secretary of state approves Peel plans
18 July 2012
The secretary of state has approved Peel’s plans for a residential scheme in Salford.
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Segro warns of £12m rent loss from Neckermann insolvency
18 July 2012
Segro has been hit hard by the collapse of one of its biggest tenants, the German mail-order company Neckermann.
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Shaftesbury backs Team GB
13 July 2012
Shaftesbury, the West End landlord, has got into the Olympics spirit.
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Spain’s Serrano leads arch rivals
13 July 2012
Rafael Serrano, the Spanish entrepreneur who developed London’s Bulgari hotel, has emerged as the frontrunner to buy Admiralty Arch.
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Stanhope poised to buy City site
10 July 2012
Stanhope, with funding from Benson Elliott, is frontrunner to buy a City development site out of receivership.
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Supermarket scoops giant industrial deal
18 July 2012
A supermarket giant has signed one of the biggest industrial occupier deals of the year.
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Supermarket scoops giant south west industrial deal
18 July 2012
A supermarket giant has signed one of the biggest industrial occupier deals of the year.
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Swedish fashion brand to open first UK store
13 July 2012
Swedish fashion retailer J. Lindeberg is looking to open its first stores in the UK.
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SWIP to be appointed on new Lloyds administration
10 July 2012
Scottish Widows Investment Partnership has been brought in to asset manage a property company put into administration by Lloyds Banking Group, as part of an innovative tie-up between the duo.
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Tesco adds two new stores at West Brom
16 July 2012
Tesco’s development arm Spenhill has secured two new tenants for its £140m New Square development in West Bromwich, which will open next year.
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The Main Events: who's got the hottest Olympic tickets?
13 July 2012
Property people have some of the hottest Olympic tickets in town. David Hatcher reports
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This town ain’t big enough for both of us
13 July 2012
Trowbridge scheme hangs in balance as row between rivals rages. Sarah Stewart reports
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Topshop in talks to open second Oxford Street store
13 July 2012
Topshop is in talks to open its second store on Oxford Street after its sister brand Evans agreed a deal to move out of its existing store on the UK’s busiest shopping street.
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Town Centre Securities makes Leeds purchase
19 July 2012
Investment and development company Town Centre Securities has bought 6-7 Park Row in Leeds.
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Treveria in talks on €418m debt maturity
16 July 2012
Treveria, the AIM-listed German investor with a €1.4bn retail portfolio, is in talks with its lenders about a €418m loan which matured yesterday.
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Treveria in talks on €418m debt maturity
16 July 2012
Treveria, the AIM-listed German investor with a €1.4bn retail portfolio, is in talks with its lenders about a €418m loan which matured yesterday.
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UK Coal sells 900 acres
16 July 2012
UK Coal has sold 900 acres of UK agricultural land and associated buildings to a pension scheme.
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University of the Arts puts London HQ up for sale
13 July 2012
Knight Frank has been appointed by a private investor to sell University of the Arts’ building at 272 High Holborn in London.
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West London en vogue for jean queen, Donna Ida
17 July 2012
Denim fashion retailer, Donna Ida has agreed to take a five-year lease at the 25,000 sq ft Phoenix Brewery office development in north Kensington.
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Westbourne Grove office block sold for £19m
13 July 2012
JR Capital and Alchemi Group have bought an office building in London’s Westbourne Grove for a consortium of private and institutional Middle Eastern investors.
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Westfield signs two at Bradford
19 July 2012
Westfield has confirmed a deal with Marks & Spencer to anchor its Broadway development in Bradford and has also agreed a pre-let with Next.
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Weston promise: private and public sectors unite
13 July 2012
St Modwen counts on creative sector and public partnerships. Sarah Stewart reports
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Wharf ordered to pay following £2m property scandal
19 July 2012
Wharf Land and a group of property professionals, including a member of the British aristocracy, have been ordered to pay a wealthy Russian entrepreneur £2m for their part in a property deal that turned sour.
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Widows adopts first ‘orphan’
13 July 2012
Scottish Widows Investment Partnership (SWIP) has been brought in to manage the assets of New Edinburgh Limited — a property company put into administration by Lloyds Banking Group on Monday.
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Wigan tastes better for Prupim
13 July 2012
Prupim has bought a Sainsbury’s supermarket in Wigan.
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Wolverhampton's Mander Centre to be revamped as part of city redevelopment
19 July 2012
Delancey’s Mander Centre in Wolverhampton is poised to undergo a comprehensive refurbishment and extension as part of plans by the council to meet demand for around half a million square foot of retail and leisure in the city.
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Wren Kitchens & Bedrooms signs for two new stores
16 July 2012
Wren Kitchens & Bedrooms has signed to open two new stores in London and Birmingham.
