17 November 2006

Property Week

View all stories from this issue.

  • ...and 40m Thurrock shed deal

    17 November 2006

    New Star is poised to buy Legal & General and Graftongate’s Hardcase warehouse in Thurrock for around £40m, reflecting a yield of around 5.5%.

  • ‘Walkie-Talkie’ put on hold

    23 November 2006

    Land Securities’ proposed development of the ‘Walkie-Talkie’ at 20 Fenchurch Street in the City has been put on hold after the government decided to call in the scheme, it emerged this afternoon.

  • 20-30-40-50

    15 November 2006

    Each week we meet a property character from a different age bracket. This week Heather Greig-Smith meets Paul Nichols, 53, head of Cushman & Wakefield’s Manchester office

  • AAIM in exclusive £50m Frimley talks

    15 November 2006

    AAIM is in exclusive talks with a private investor for the £50.5m sale of AMS House in Frimley.

  • All change at Slough Estates as REIT conversion looms

    17 November 2006

    FTSE-100 property company set to announce review of UK structure and overseas holdings

  • All wrapped up and nowhere to go

    17 November 2006

    On a freezing cold night the Drivers Jonas landlord and tenant team sacrificed their beds for a night to raise money for Centrepoint, a charity the helps London’s young homeless people.

  • Appetite for REITs grows

    20 November 2006

    An increasing number of financial advisors planning to incorporate REITs into clients portfolios when they launch in January 2007.

  • Atisreal grows in Southampton

    23 November 2006

    Atisreal this week acquired Southampton practice Neilson Holt.

  • Barclays Wealth takes Glasgow space

    20 November 2006

    Barclays Wealth has taken 77,000 sq ft ( 7,153 sq m) of office space at Glasgow’s Aurora office development.

  • Barking Riverside gets go ahead

    16 November 2006

    Barking Riverside – the largest residential-led development in the Thames Gateway – has been given the go ahead.

  • Base rate rise is ‘dangerous’ for new homes

    17 November 2006

    The Bank of England’s 0.25% base rate rise last week to a five-year high of 5% drew a mixed response from the residential sector.

  • Birmingham’s blockbusters

    17 November 2006

    British Land and Abstract Securities seal new city centre office schemes worth £220m

  • Blackstone set for Equity Office Properties takeover

    20 November 2006

    Blackstone is set to takeover US property giant Equity Office Properties, the US commercial real estate company founded by Sam Zell, in property’s biggest ever takeover deal.

  • Brighton affront

    17 November 2006

    This man halted a development in a right-of-light case that is sending shock waves through the industry.

  • Bristows

    17 November 2006

  • British Land to refinance Meadowhall

    20 November 2006

    British Land will cut £3m off its interest bill from a £1bn refinancing of its Meadowhall shopping centre in Sheffield.

  • Brum duo go it alone

    17 November 2006

    Two Johnson Fellows partners have left to focus on retail warehousing in the Midlands area.

  • Buller’s Bee Bee charges in Corby

    17 November 2006

    Alfred Buller’s Bee Bee Developments is to buy Wilson Bowden’s Centrix Park site in Corby.

  • Calas Huddersfield win

    17 November 2006

    Cala Group has won detailed planning permission for a residential scheme on one of the largest available brownfield sites in West Yorkshire.

  • Calderbank offers

    17 November 2006

    Question: I am acting for a landlord on a lease renewal and an agreement seems unlikely. My client has asked me to send a Calderbank offer to settle. Is this a good idea and are there any pitfalls?

  • Capital & Regional buys €50m of retail property

    23 November 2006

    Capital & Regional, the co-investing property asset manager, has bought a portfolio of ‘big-box’ retail properties for €50m (£33.8m).

  • Carphone Warehouse founder launches property venture

    13 November 2006

    Joint founder of Carphone Warehouse David Ross has launched a joint venture property company with Morgan Stanley Real Estate Fund (MSREF)

  • Case news

    17 November 2006

    Jonathan Ross highlights the importance of detailed evidence in dilapidation claims while Warren Gordon reports on a Brighton homeowner’s successful right-of-light appeal

  • Catella appoints quartet at City office

    17 November 2006

    New recruits include ex-Richard Ellis chairman and Cushman’s Buchele

  • Charity: we were first

    17 November 2006

    With reference to the recent story, ‘Protego and Cazenove put charity first’ (finance, 03.11.06), I would like to point out that the Charities Property Fund was the first property common investment fund (CIF) designed for all charities in England and Wales.

  • City view: James Whitmore

    17 November 2006

    The quoted property sector has an obvious vacancy for a £2bn central London office REIT that needs filling.

  • Crest rebuffs Bank of Scotland and West Coast

    17 November 2006

    Crest Nicholson, the UK developer and housebuilder that fought off a bid approach from Heron Corporation last year, has rejected an offer from Bank of Scotland Corporate and Sir Tom Hunter’s West Coast Capital.

  • Curo to launch £25m fund on Chatham’s enterprise zone

    17 November 2006

    Syndicator inviting £25,000 minimum stakes in leisure and entertainment development

  • Dashes to Ashes

    17 November 2006

    Mike Phillips meets the fans abandoning UK property to follow the England team to Australia

  • Derwent Valley and London Merchant to create REIT giant

    17 November 2006

    Merger agreed at price Great Portland could get ‘nowhere near’

  • Derwent Valley to merge with LMS

    14 November 2006

    John Burns’ Derwent Valley has swooped to buy London Merchant Securities to create a £2.25bn central London development specialist and beating another takeover attempt by Great Portland Estates

  • Diary of... a project manager

    17 November 2006

    Neil Grey, head of property management at CB Richard Ellis, takes us through his week

  • Dilapidation schedules

    17 November 2006

    Question: I am a commercial tenant and I have received a long schedule of dilapidations from my landlord. What should I do?

  • Disposal of waste soils

    17 November 2006

    Question: Are there rules for the handling and disposal of waste soils generated during development. What are the penalties incurred if these are not followed?

  • Drivers Jonas searches for British Film set

    17 November 2006

    Drivers Jonas is searching for a new national film centre for the British Film Institute (BFI).

  • DTZ enjoys high overseas tide

    17 November 2006

    DTZ’s shares jumped 5.6% in the middle of this week after the quoted property services firm issued a strong trading statement.

  • Environmental services: how clean is your site?

    17 November 2006

    The cost of contaminated property is making lenders cautious, says David Lawson

  • Essex + north-east London boroughs

    17 November 2006

  • Final green light for Argent at King's Cross

    17 November 2006

    Camden Council has given Argent the final go-ahead for its giant regeneration scheme at King's Cross Central station

  • Fosters & Partners reveals latin project

    14 November 2006

    Fosters & Partners has revealed the design of its first project – The Aleph - in Latin America

  • Fourth Indian property company to list on AIM

    16 November 2006

    Unitech, the largest quoted property company in India, is set to be the fourth Indian property company to list on London’s AIM.

  • From Creases to leases

    17 November 2006

    Next week’s first Ashes Test will be keenly followed by both sports fans and the property industry. Mike Phillips talks to three former stars-turned-property men and, overleaf, he meets the ‘barmy army’ flying down under

  • German quoted company sells €85m offices

    21 November 2006

    German quoted company IVG Immobilien has sold 12 office buildings to CIT Europe for €85m (£57.5m)

  • Going places

    17 November 2006

    This week's movers...

  • Great Portland powers up with pre-REIT results

    17 November 2006

    Great Portland Estates produced an extremely strong set of half-year results this week.

  • Green light at Barking

    17 November 2006

    Barking Riverside – the largest housing-led scheme in the Thames Gateway – was poised to get the green light this week following a recommendation to grant outline planning consent.

  • Hard work is the secret of APC success, not your firm’s size

    17 November 2006

    Sir, I think your ‘First Friday’ article (professional + legal, 03.11.06) does small firms a disservice when discussing the APC (Assessment of Professional Competence).

  • Head butt of jokes

    17 November 2006

    Mark Williams, the highly regarded head of retail at DTZ, knew it would be a bad move to seat himself in the front row at Modus Properties’ comedy night at last week’s British Council of Shopping Centres annual conference in Manchester.

  • Heart sell

    17 November 2006

    O&H is targeting Walton-on-Thames’s affluent residents at its shopping centre, the Heart.

  • Hit and miss

    17 November 2006

    A new RICS report shows valuers struggling to keep up with the market, while boom times are causing temptation for others.

  • Horny beast

    17 November 2006

    I ran a story recently about Robert Maxted of Pillar, Chesterfield and now Ardwood fame, who was going buffalo shooting in Tanzania.

  • How to go green and stay in the black

    17 November 2006

    Recycling is the affordable and responsible answer to sustainable construction, says Jo Stocks

  • In the auction room the glass is half full

    17 November 2006

    As the nights draw in, drink deeply and think about the coming year, says Duncan Moir

  • ING forecasts 11% return for 2007

    21 November 2006

    ING Real Estate Investment Management has forecast an 11% total property return for 2007.

  • ING presales kickstart Ilford’s Pioneerpoint

    17 November 2006

    Dutch fund and Circle Anglia snap up 100 of 279 flats at Empire’s regeneration scheme

  • Inside parliament

    17 November 2006

    A stern warning

  • Investment markets slowing down, says IPD

    17 November 2006

    Property performance is slowing down, according to the Investment Property Databank index for October, published this week.

  • Invista in £166m equity-raising campaign

    21 November 2006

    Invista European Real Estate Trust kicked off a £166m equity-raising campaign today

  • Israeli and Irish investors to spend £1bn on Marriotts

    16 November 2006

    Israeli investor Igal Ahouvi has teamed up with Israeli property company Delek Real Estate and Irish investor Quinlan Private to buy 47 Marriott hotels in the UK for around £1bn.

  • Kelly to call for Thames Gateway design offensive

    17 November 2006

    Communities secretary to unveil new housing policy at next week’s forum

  • Lambert Smith Hampton achieves 24% profit increase

    23 November 2006

    This increase in pretax profits amounted to £2.6m in the six months to 30 September

  • Land Securities' net asset value rises 11%

    15 November 2006

    Land Securities beat forecasts today with an 11% rise in half-year net asset value and said it would increase its dividend by 30% when it converts to a REIT.

  • LandSecs promises 30% REIT windfall

    17 November 2006

    UK’s biggest property company posts double-digit NAV rise

  • Lend Lease swoops at Croydon’s Park Place

    17 November 2006

    Minerva advances £92.5m sale of 50% of interest to Lend Lease

  • Liberty raises £337.5m from share placing

    22 November 2006

    The 25m shares represent 7.4% of Liberty International’s issued share capital

  • Liverpool One

    17 November 2006

    This is the first image of the £35m hotel and residential element at Grosvenor’s Cesar Pelli-masterplanned Liverpool One scheme, which received planning consent at the end of September. The Squire & Partners-designed, nine-storey building includes 63 flats.

  • Livingstones and J-REITs on AIM

    17 November 2006

    Ian and Richard Livingstone have made an initial £118m from the AIM flotation of Northern European Properties.

  • London Merchant Securities

    17 November 2006

  • Macquarie acquires Akeler for £600m

    14 November 2006

    Macquarie Goodman Group, owner of developer Arlington, has agreed to buy business park specialist Akeler Holdings for £600m

  • Macquarie Goodman acquires Akeler for £649m

    17 November 2006

    Australian group continues European expansion with third big deal in a year

  • Markham gets into Hotbed

    17 November 2006

    Hotbed, the UK’s largest private investor network, has appointed Johnny Markham as investment director in property division.

  • Mayor's planning powers increased

    15 November 2006

    The Greater London Authority Bill was this week given the go ahead in the Queen’s Speech to increase the mayor of London’s planning powers.

  • Mayors powers surge

    17 November 2006

    The Greater London Authority Bill was this week given the go ahead in the Queen’s Speech to increase the mayor of London’s planning powers.

  • Membership club set up for BIDs

    17 November 2006

    A membership organisation for business improvement districts called British BIDs was launched last week by the British Urban Regeneration Association and consultant Partnership Solutions.

  • Miliband to force company energy commitments

    17 November 2006

    Environment secretary David Miliband launched a consultation on a carbon trading scheme for offices, supermarkets, universities and around 5,000 other organisations last week.

  • Modus

    17 November 2006

  • More London drops Jones Lang LaSalle

    17 November 2006

    Jones Lang LaSalle has been dropped as an agent from the iconic More London development on the south bank of the Thames after seven years on the scheme

  • Morgan Stanley rings up Ross for £500m retail tie-up

    17 November 2006

    Drake Circus in Plymouth and 36 high street assets form initial portfolio

  • National Grid’s £61m HQ sale

    17 November 2006

    National Grid is to sell its UK headquarters as part of an ongoing property review.

  • New Star shines with £150m City buy...

    17 November 2006

    Investor continues spree with Gracechurch Street deal

  • O2 to double up at Slough Estate

    17 November 2006

    Telecoms company O2 is to double its office space at Slough Estates’ Slough Trading Estate.

  • Only a state of emergency will prevent Olympic shame

    17 November 2006

    The politics of property, with Steven Norris

  • Parkridge cuts a €2.5m dash over continent

    17 November 2006

    Cutts’ outfit storms Europe in partnership with Morley, says Deirdre Hipwell

  • Prestigic reshuffles at top

    17 November 2006

    Prestigic Holdings, the commercial and residential property investor set up by former Rotch director Adrian Goldsmith, has undergone a significant management reorganisation for a £100m overseas venture.

  • Pringle Richards Sharrat

    17 November 2006

    Ealing Council has given consent to the second phase of the £50m redevelopment at Ealing Studios, which will include 25,000 sq ft (2,322 sq m) of offices designed by Pringle Richards Sharratt. The London film studios, whose films include this year’s Fade to Black starring Christopher Walken and Danny Huston (pictured above), is owned by a consortium that includes Fragile Films and Manhattan Loft Corporation.

  • Prupim to sell £185m Knightsbridge trophy

    17 November 2006

    CB Richard Ellis appointed for sale of block opposite Harrods

  • Public sector agencies must stand together warns Peel man

    23 November 2006

    Peel Holdings property director Peter Nears spoke to delegates at the Thames Gateway Forum in London Docklands today

  • PWC’s City fringe shuffle deals Shard a free hand

    17 November 2006

    PricewaterhouseCoopers’ three-way move leaves Southwark Towers site free for Sellar tower

  • Queen’s planning promise

    17 November 2006

    The Queen this week confirmed that the government would introduce new proposals next year to overhaul the planning system.

  • Queen's planning promise

    15 November 2006

    The Queen this week confirmed that the government would introduce new proposals next year to overhaul the planning system

  • Quinlan’s £70m Thames Valley splash

    17 November 2006

    Developer to buy Akeler’s 230,000 sq ft Marlow International

  • Recovery play

    17 November 2006

    Despite plummeting yields, office investors are parting with their cash in the hope that rental levels will improve.

  • Redevelopment plans for Liverpool Garden Festival site

    22 November 2006

    Langtree Group and David McLean Developments have today submitted an application to redevelop the 88-acre International Garden Festival site.

  • Ridgeford Properties

    17 November 2006

    Ridgeford Properties has applied for planning consent for 12 luxury flats, totalling 22,000 sq ft (2,043 sq m) at 10 Weymouth Street in Marylebone, central London. Designed by Ken Shuttleworth’s Make practice, it will have environmental features, including a ‘Green meadow roof’. Work is scheduled to start next October 2007 for completion by 2009.

  • RO to extend Harlow park

    17 November 2006

    RO Developments is asking Harlow Council for consent to develop a second phase of Harlow Business Park

  • Rock Capital buy's City Park for £63.25m

    23 November 2006

    Roger Smee’s Rock Capital Group has bought Glasgow’s City Park office scheme from Elphinstone and Earthquake Property Partners for £63.25m.

  • Scarborough announces £45.5m pre-tax profits

    15 November 2006

    Kevin McCabe’s Scarborough Group today revealed its annual profits for the year to 28 February 2006

  • Siemens greetings

    17 November 2006

    Siemens’ Frimley Square letting is being welcomed as the catalyst for Surrey’s office recovery. Stuart Watson reports

  • Signature Capital launches €200m German fund

    20 November 2006

    Signature Capital has launched a €200m (£135.4m) German fund targeting Irish private investors looking to invest in Germany.

  • Slough Estates reviews £1bn US business

    16 November 2006

    Slough Estates revealed this morning that it had begun a strategic review of its £1bn US business.

  • Small or nothing

    17 November 2006

    A shortage of land is forcing industrial developers to smaller towns.

  • St Martins bags Europe’s biggest shopping centre

    17 November 2006

    Property group pays $750m for 3m sq ft Pradera-managed mall in Istanbul

  • St Modwen

    17 November 2006

    St Modwen’s promise of a five-year rent freeze for market traders at Queen’s Market, Green Street in Newham, failed to silence opposition to the site’s proposed £85m redevelopment (pictured). After a public consultation last month, campaign group the Friends of Queen’s Market complained a freeze was not legally binding.

  • Sussex, Surrey + London boroughs south

    17 November 2006

  • Sweet and sour

    17 November 2006

    Capital & Provident’s plans to regenerate the 2.1m sq ft former Tate & Lyle site in Newham hang in the balance. Mike Phillips reports

  • Tchenguiz goes green with $250m energy fund

    17 November 2006

    Vincent Tchenguiz’s Consensus Group, together with Abu Dhabi Future Energy Company and Credit Suisse, this week launched its Masdar Clean Tech Fund.

  • Thames Water and EDF to supply Ebbsfleet development

    22 November 2006

    Land Securities has signed an agreement with Thames Water Services and EDF Energy to provide utilities at its Ebbsfleet Valley development in Kent Thameside.

  • The flat pack

    17 November 2006

    Home Factory is seeking inspiration from Ikea for its new range of affordable prefabricated housing. Doug Morrison reports

  • The market in minutes

    17 November 2006

    Anna Goldie gives you the lowdown on all the sectors across the region

  • The market in minutes

    17 November 2006

    Christine Eade and Mike Phillips give you the lowdown on all the sectors across the region

  • Trade union

    17 November 2006

    Drivers Jonas has also been running a competition all year for the best places staff can be photographed in ‘I Love DJ’ T-shirts.

  • Treasure Ireland

    17 November 2006

    Four property groups will hear next month if they have been given a £200m chance to cash in on Ulster’s new dawn.

  • Treasury’s £1bn property squeeze

    17 November 2006

    Government estates under pressure to cut costs

  • Unisys picks JLL for global role

    17 November 2006

    Unisys, the technology services company, has appointed Jones Lang LaSalle as global services provider for its property portfolio.

  • Unite makes £515m stand with student property fund

    17 November 2006

    Big-name institutions invest a total of £266m in the open-ended vehicle

  • Urbina purchases nationwide

    17 November 2006

    Bristol-based investor and asset manager Urbina has completed two purchases at opposite ends of the UK.

  • Urgent action for gateway

    17 November 2006

    Sir, The remarks made by Tony Pidgley and Maggie Sherlock at the BURA (British Urban Regeneration Association) conference highlighted both the government’s role and the expense of competing for regeneration projects (residential + regeneration, 20.10.06).

  • Valuers: gird yourselves for a tough 2007

    17 November 2006

    Cast your mind back to March when a prime City office yielding 4.75% was worth £100m.

  • Victory for campaign with rogues run out of town

    17 November 2006

    Government to launch consumer bill promising redress for the public

  • Victory for resi campaign

    15 November 2006

    Property Week has scored a major victory in its campaign to clean up the housing market

  • Watch the backhand

    17 November 2006

    Winter may be drawing in, but shopping centre manager Plus Shops has just held its annual outdoor tennis tournament.

  • Waverley TBS

    17 November 2006

    Waverley TBS, a subsidiary of Scottish & Newcastle, has agreed to prelet a 34,500 sq ft (3,205 sq m) distribution warehouse at Quadrant Estates and Helical Bar’s Ropemaker Park in Hailsham. Waverley is taking a 15-year lease at £6.75/sq ft (£40.37/sq m).

  • Where 55s the limit

    17 November 2006

    Christine Eade visits the site of developer Countryside’s controversial retirement village at Cliveden in Buckinghamshire

  • Workspace invests another £18.1m in London

    13 November 2006

    Workspace Group has continued its investment focus on London with the purchase of three properties for £18.1m.


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