20 April 2012
Property Week
View all stories from this issue.
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£1bn wealth fund launches
20 April 2012
Queensgate Investments has launched a £1bn property fund.
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Allied Carpets sold in pre-pack administration… again
24 April 2012
Allied Carpets has been bought in a pre-pack deal after falling into administration for the fourth time in the past three years.
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Anglo Irish sale slips again
20 April 2012
The sale of the property arm of Anglo Irish Private Wealth has fallen through for the second time, so assets it owns, such as the City of London’s Royal Exchange, may now be sold over a longer period.
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Aquascutum succumbs
20 April 2012
Fashion brand Aquascutum fell into administration on Tuesday, as the malaise affecting the retail market bit into the luxury sector.
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Banschus to lead Helios German expansion
20 April 2012
Helios Europe has appointed a former Parkridge director to run its operations in Germany.
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Basingstoke discovers a little goes a long way
20 April 2012
While Southampton struggles to attract office tenants, MEPC is relying on tenant loyalty to keep Basingstoke’s Chineham Park occupied, and Muse Developments is exploring lease endings to find new occupiers for Basing View in the town centre.
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BGC launches merged firm
20 April 2012
BGC Partners this week created one of the largest commercial real estate firms in the US, through the integration of the two firms it has bought in the last seven months
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BIDs should buy together
20 April 2012
Sarah Townsend reports on new plans to improve procurement, including property management
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BLOG: A vintage Property Week Awards
20 April 2012
Last night has to go down as a vintage Property Week Awards Dinner. In Nick Leslau’s words ‘it’s become the Oscars of the property sector’.
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Boris doesn't factor in sign
20 April 2012
If it wasn’t already obvious from the floppy haircut, the bumbling demeanour, or the pro-growth policies, Development Securities and Cathedral Group last week spelled it out in black and white: Boris is indeed a Tory.
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Boxpark prepares to pop up again
20 April 2012
The creator of the world’s first “pop-up” mall, Boxpark in London’s Shoreditch, is to open a second UK site, and another in Amsterdam.
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Brazilian fund leads $4.6bn fundraising in March
20 April 2012
Unlisted real estate funds raised $4.6bn around the world in March, double the amount in February, reports Indirex, the new global online community for the sector.
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British Land sells Virgin health clubs
23 April 2012
British Land has sold five Virgin Active health clubs it bought in a portfolio last summer for £33m.
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Brookfield’s $10bn flotation
20 April 2012
Toronto-based asset manager to list in New York and Canada to create global giant
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Buyer and seller lost for words
20 April 2012
The message: Agreements to purchase land must be in writing.
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Canary Wharf offices in legal row
20 April 2012
The Irish High Court was this week the scene of a legal row over the ownership of two Canary Wharf office buildings valued at more than £250m that have been encircled by investors.
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Capital Shopping Centres revolt breaks out over pay
26 April 2012
The annual general meeting of Capital Shopping Centres yesterday saw 28.73% of shareholders vote against the directors’ remuneration.
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CBRE enlists DTZ man for regional renaissance
20 April 2012
CBRE has poached DTZ’s Scotland-based regional chairman to chair a new “regional development board”, PropertyWeek.com revealed this week.
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CBRE grows revenue but Europe posts losses
25 April 2012
CBRE last night reported first quarter growth in revenue and underlying profit on a global level – but saw its European and Asian businesses post operating losses.
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CBRE sees growth but Europe and Asia make operating losses
25 April 2012
CBRE last night reported first quarter growth in revenue and underlying profit on a global level – but saw its European and Asian businesses post operating losses.
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Celebrity chef Nick Nairn to open cookery school in Aberdeen
24 April 2012
Celebrity chef Nick Nairn has signed to open a cookery school and shop in Aberdeen.
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Chinese Estates owner Lau denies bribery allegations
20 April 2012
Joseph Lau, the billionaire owner of Chinese Estates, has denied allegations he paid a bribe to Macau’s former secretary of transportation and public works, Ao Man-Long.
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City finds an outside edge
20 April 2012
The battle for hearts and minds in the City of London’s development scene has swung noticeably from the financial services sector to the digital or “tech” sphere.
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Cushman & Wakefield appoints asset management partner
23 April 2012
Cushman & Wakefield has appointed a new partner to its property & asset management team.
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D2 Private secures massive Mayfair rent
20 April 2012
D2 Private has secured one of Mayfair’s biggest rents at it’s 23 Savile Row office building.
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De Vere exchanges to sell in Bournemouth and Warrington
23 April 2012
De Vere Group has exchanged contracts to sell two hotels for £20m.
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Debenhams to anchor £130m Flemingate redevelopment
23 April 2012
Debenhams has signed to anchor the £130m Flemingate regeneration project in Beverley, East Yorkshire.
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Debenhams’ desire for Shrewsbury
20 April 2012
Debenhams is to anchor the New Riverside shopping centre scheme in Shrewsbury with a 95,000 sq ft store.
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Derwent London secures consent on former Astoria site
20 April 2012
Derwent London has gained planning consent for its mixed use scheme on the site of the former Astoria music venue.
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EC Harris wins ‘free’ school scholarship
20 April 2012
Property consultancy EC Harris has won contracts to project manage six of the government’s new “free” schools.
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Empty homes tsar calls for fund
20 April 2012
“Restoration Man” George Clarke wants the number of long-term empty homes in the UK reduced by half over the next five years.
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Former Hampshire airbase to be reincarnated as aviation business hub
20 April 2012
The Homes and Communities Agency (HCA) wants to try to turn the former Daedalus Royal Naval Air Station at Lee-on-Solent, Hampshire, into a specialist aviation and engineering business hub.
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Forum Partners expands in Australia
20 April 2012
Forum Partners, the global real estate investment management firm, has established an office in Sydney, Australia, under the leadership of Andrew Faulk, a director of Bluestone Capital.
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Fresh Centre Point images unveiled
25 April 2012
Almacantar and Frogmore have released a fresh handful of images showing how their redevelopment of London’s iconic Centre Point would look.
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Frustrated US investor steers European REITs in right direction
20 April 2012
When the world’s largest REIT investor tells the European listed sector it needs to change, chief executives across the continent should sit up and take notice.
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GBR Phoenix Beard appointed to Birmingham’s 2 Snowhill
26 April 2012
Niche agent GBR Phoenix Beard has been appointed as joint letting agent at Hines’s 2 Snowhill office scheme in Birmingham.
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Government aid for agents
20 April 2012
Property services mandates to be handed down to smaller regional firms
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Government aid for agents: mandates to be handed to smaller firms
20 April 2012
Regional property services firms are to be given a much-needed boost to fee income through the chance to advise the government on its £280bn estate.
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Grainger embarks on road to Newlands
20 April 2012
Work began on Monday on £65m of infrastructure for Newlands, Grainger’s new village (pictured, below) at Waterlooville in Hampshire.
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Grosvenor backs IO industrial guru
20 April 2012
Chief Preston’s “diversification” leads to investment with Sims
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Hammerson bond buy-back meets enthusiastic response
26 April 2012
Hammerson has agreed to buy back €220m of debt from bondholders after an enthusiastic response to its offer.
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HCA’s property and regeneration programme bears fruit
20 April 2012
Land Trust given control of green space and brownfield remediation beats targets. Sarah Townsend reports
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Hemming's way
20 April 2012
Do you recall that MP who had the affair?
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Henderson’s Italian fund duet
20 April 2012
Fund manager teams up with asset manager Investire Immobiliare for €200m-€400m products
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High streets need to go beyond Portas review
20 April 2012
Sir, Although the Portas Review is strong on practical suggestions, I believe there is still more work to be done to create a unified vision of the future role of our high streets, and to explore the role customer service plays in their revival in particular (PropertyWeek.com, 30.03.12).
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Hushwing sweats its asset
20 April 2012
Nat Rothschild and his chum, Lord Mandelson (below), could soon be hot-footing it to trendy Hoxton to sample London’s first authentic Russian banya, complete with ice bath and birch sticks.
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Hussey "takes steps to recover" Lord's costs
19 April 2012
Almacantar’s Mike Hussey has instructed lawyers to recover his costs from around £750,000 paid towards working up the redevelopment of Lord’s cricket ground, propertyweek.com can reveal.
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In London’s two-horse mayoral race, it’s Boris by a nose
20 April 2012
I normally like to put my money where my mouth is come election time.
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Indirect investment boosts Grosvenor coffers
20 April 2012
The value of Grosvenor, the Duke of Westminster’s property group, increased by 8% to £2.86bn last year.
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Investors on track for rail freight fund
20 April 2012
Increased demand should help to attract investors and operators. Stuart Watson reports
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Investors on track for rail freight fund
20 April 2012
Increased demand should help to attract investors and operators. Stuart Watson reports
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Kilbride plans Wolverhampton DIRFT
20 April 2012
Midlands rail freight interchange subject to planning permission. Stuart Watson reports
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Know value of location and good asset management to be local hero
20 April 2012
With prime areas of London potentially looking overpriced, where is value to be found?
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Land near Edinburgh airport earmarked for development
20 April 2012
Bids will be submitted this month for a strategic site in west Edinburgh that lies south of the city’s airport.
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LandAid key to unlocking private sector funding
20 April 2012
As the new chief executive of LandAid, I’ve been struck by how relevant our charitable giving is in 2012, as the property industry’s charity strives to improve the lives of disadvantaged young people in the UK.
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Landlords lobby to stop retail prepacks ‘Taking the Profit’
20 April 2012
British Property Federation launches campaign for insolvency practitioners to act fairly
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Lend Lease pays $56m in fines over US fraud
26 April 2012
The Australian construction and development company Lend Lease has had to pay $56m in fines to avoid criminal prosecution in the US.
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Leslau sells in Midtown
26 April 2012
Nick Leslau’s Prestbury has sold 6-10 St Andrew Street, EC4 for £23.5m.
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Lloyds steps up £25bn Irish distressed loan workout
24 April 2012
Lloyds Banking Group has appointed advisers for two parts of its strategy to work through its £25bn Irish property headache.
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Lok’nStore profit hit by debt costs
25 April 2012
Lok’nStore has reported a 22% decline in first-half pretax profit as a result of higher interest payments and a one-off debt refinancing charge.
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London's Mayoral Manifestos
20 April 2012
In part three of our series examining the issues affecting London’s mayoral election, Patrick Gower scrutinises the four main candidates’ policies and compares Ken Livingstone and Boris Johnson’s battle plans two weeks before Londoners cast their votes
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London's Mayoral Manifestos
20 April 2012
In part three of our series examining the issues affecting London’s mayoral election, Patrick Gower scrutinises the four main candidates’ policies and compares Ken Livingstone and Boris Johnson’s battle plans two weeks before Londoners cast their votes
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Lowy and Sellar top list of winners at Property Awards 2012
20 April 2012
Frank Lowy and Irvine Sellar were two of the big winners at Property Week’s Property Awards 2012 last night.
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Luton airport pair of sites for sale
20 April 2012
The operator of London Luton airport is selling two sites close to the Bedfordshire airport.
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LXB consent for £110m Bedfordshire scheme
26 April 2012
LXB Retail Properties has been granted planning consent for a £110m retail warehouse scheme in Biggleswade, Bedfordshire.
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M&S to grow space despite sales slump
20 April 2012
Marks & Spencer intends to increase UK floorspace by 3% in 2012/13 and grow overseas space by 20%, despite a fall in like-for-like sales.
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Man U’s London HQ 4.2% sale
20 April 2012
The West End of London Property Unit Trust (WELPUT) has sold Stratton House, which houses Manchester United’s London office, for £166m to a European family.
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Manston airport sale raises hopes for expansion
20 April 2012
Nearby business parks and proximity to London attractive for buyers. Stuart Watson reports
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Max to put wind back into St Katharine Docks’ sails
20 April 2012
Group to transform City marina into London food and leisure destination. Mike Phillips reports
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Microsoft ponders Victoria headquarters refresh
20 April 2012
Microsoft is considering a departure from London’s Victoria, after instructing agents to find it a smaller UK headquarters.
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Miller Group appoints new chairman
23 April 2012
Miller Group has appointed the chief executive of global technology company Smiths Group as its new chairman.
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MORNING AFTER: Lockton Real Estate charity poker night
23 April 2012
Lockton Real Estate & Construction raised £9,404 for Help the Heroes by hosting a charity poker night at the end of last month.
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MORNING AFTER: Mayoral Debate at the Heron Tower
23 April 2012
Boris Johnson, Ken Livingstone and Brian Paddick took questions from 250 Londoners in a live televised debate at the Heron Tower last week.
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MORNING AFTER: PW Property Awards 2012
20 April 2012
The Property Awards 2012, held at the Grosvenor House Hotel, was a sell-out event and the biggest since 2008.
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Morys joins McCready at GPU
20 April 2012
The Government Property Unit has drafted in a senior civil servant to run the department alongside its managing director John McCready.
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NAMA tally tops €8bn
20 April 2012
NAMA, Ireland’s National Asset Management Agency, has approved €8bn of property sales in the last two years, focusing on UK assets.
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Native Land plans prime rented drive
23 April 2012
Native Land, Grosvenor and Amcorp Properties of Malaysia have today confirmed the purchase of Pavilion D at NEO Bankside on London’s South Bank as a rental investment, as Native gears up for further rental deals.
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Need to know: Imperium measure
20 April 2012
After being bought out of administration before Christmas, Solstice Park’s new owners have embarked on a rebranding exercise. Christine Eade finds out why
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Need to know: TUPE regulations
20 April 2012
Why is TUPE in the spotlight?
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Negotiating interests
20 April 2012
Sir, I read your recent article about negotiation with interest (analysis, 30.03.12).
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New chief plans to put Peverel’s problems in past
20 April 2012
Private equity owners hope Entwistle will combat Tchenguiz effect. Emma Haslett reports
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New GSK plant is tonic for troubled pharma sector
20 April 2012
Glaxosmithkline (GSK) announced its intention last month to build a £350m manufacturing facility at its plant in Ulverston, Cumbria.
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No sympathy for the private equity prepack devil
20 April 2012
Battered and bruised by public opinion, landlords have given more and more ground to tenants since 2009, as the high street has fallen apart.
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On your bike Boris, Ken is property’s true friend
20 April 2012
When Ken Livingstone attended his first MIPIM after being elected as London mayor, he gave his opening speech to a packed London stand.
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People Moves: 20 April
20 April 2012
Hitchcock Wright & Partners has promoted retail specialist Matt Kerrigan from associate to salaried partner in the Liverpool office.
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People Moves: Strutt & Parker, Colliers International, Christie & Co and more...
20 April 2012
Hitchcock Wright & Partners has promoted retail specialist Matt Kerrigan from associate to salaried partner in the Liverpool office.
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Pinsent Masons poaches insolvency partners
23 April 2012
Law firm Pinsent Masons has poached three of rival firm Lawrence Graham’s insolvency and restructuring partners.
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Planning permission granted for £1bn Edinburgh village
23 April 2012
Planning permission has been granted for a £1bn residential scheme near Edinburgh.
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Pramerica to target unloved global offices
20 April 2012
Pramerica is to roll out a global investment strategy in which it will spend hundreds of millions of pounds purchasing unloved offices.
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Praxis gets green light in Wales
20 April 2012
Praxis has secured outline planning consent for a major mixed use scheme in Deeside, North Wales.
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Prelets prove that Heathrow is ripe for expansion
20 April 2012
Almost two years ago, an Icelandic volcanic ash cloud brought Heathrow airport to a standstill. Since then, BAA has had to deal with more extreme weather, in addition to a volatile global economy and shifts in international politics towards the issues of security and border control.
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Primark to open six stores
24 April 2012
Primark will open six stores over the next six months, including one store in the UK.
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Pro-growth Persimmon triumphs in Solihull
20 April 2012
A developer has won an appeal against a council decision to refuse it planning permission, in one of the first cases to test the government’s new pro-growth planning policy.
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Property steps up to responsibilities
20 April 2012
Property Week, Jones Lang LaSalle, Chainbow and LandAid teamed up to bring property’s message to a charity-dominated audience at a pan-industry exhibition and conference last month.
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Property Week Digital Edition - 04 May 2012
4 May 2012
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Property Week Digital Edition - 20 April 2012
20 April 2012
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PWC to control £107m Evans Randall fire sale
20 April 2012
Five vacant assets on market following failure of Labour’s control centre scheme
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Q+A: Gatwick’s retail plans take flight
20 April 2012
Global Infrastructure Partners is in the middle of a £1bn, two-year improvement programme of Gatwick airport that is scheduled for completion in summer 2013.
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Q+A: Spacehive creates buzz around ‘crowd-funding’
20 April 2012
An online “crowd-funding” initiative has been launched to enable communities to deliver development projects. Property Week spoke to its founder, Chris Gourlay
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RBS’s West Register ramps up resi division
20 April 2012
New management team will add “quality and liquidity” to portfolio of 1,400 homes
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Redrow to raise £80m for London resi expansion
24 April 2012
Redrow is raising £79.6m through a sale of shares in order to expand its London business as well as buy more regional sites.
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REIT begins work on first phase of £15m Monument Mall upgrade
25 April 2012
The discount designer retailer TK Maxx has signed a prelet at Monument Mall scheme in Newcastle in the same week that redevelopment starts.
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RICS’s new resi king backs tougher regulation
20 April 2012
The RICS has appointed Peter Bolton King as its global residential director, as it attempts to increase its influence in the sector and tackle issues such as regulation and sustainability.
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RICS’s new resi king backs tougher regulation
20 April 2012
The RICS has appointed Peter Bolton King as its global residential director, as it attempts to increase its influence in the sector and tackle issues such as regulation and sustainability.
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Robert Dyas gets house in order for exclusive sale talks
20 April 2012
High street retailer will choose between remaining bidders this month. Rachel Hunter reports
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Rolls-Royce and Muse land in east Midlands
20 April 2012
Rolls-Royce has picked a partner for the redevelopment of a former engine-testing premises north of Nottingham, in a fillip for the east Midlands development scene.
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Segro agrees to sell IQ Farnborough for more than £90m
20 April 2012
Segro has agreed to sell IQ Farnborough for more than £90m as a part of its disposals of non-core assets.
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Sherley-Dale raises £9m for hostel
20 April 2012
JMS Estates, the central London residential property company started in 2009 by Michael Sherley-Dale, has raised around £9m of new equity to make its fifth acquisition.
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Ska can benefit both sides
20 April 2012
Sir, I was interested to read your article “Shops to undergo Lush, green transformation” in your Eco Issue (16.03.12)
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St Modwen and Vinci buy Uxbridge site
24 April 2012
VSM Estates, St Modwen’s joint venture with Vinci, has completed the purchase of RAF Uxbridge in west London for its Project MoDEL contract.
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Stable pricing suggests weak year for returns
20 April 2012
The Royal Bank of Scotland estimates that around £400m was traded over the first quarter of 2012 for UK commercial property derivative contracts, which compares with £340m executed in the fourth quarter of last year.
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Standard Life exchanges on Cheltenham office
23 April 2012
Standard Life Investments has exchanged contracts to buy a multi-let Cheltenham office for its Property Income Trust.
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Swiss watchmaker to pay record rent on New Bond Street
20 April 2012
Swiss watchmaker Breitling has agreed a deal to open its first standalone store on New Bond Street at what is expected to be a record rent of £1m.
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Take three … rallying regional retail tales
20 April 2012
Theo Paphitis, the retailer and Dragons’ Den panellist, teased Hammerson at the launch of Southampton City Council’s masterplan last month, because the REIT had no suitable shop in Southampton’s WestQuay shopping centre for Boux Avenue, the lingerie chain that he launched last year.
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Terrace Hill turns from town to gown in search for tenants
20 April 2012
Low office take-up in Southampton prompts rethink from developer. Christine Eade reports
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Tesco opts for fresh focus in £1bn revamp
20 April 2012
Refurbishment preferred over space growth following dip in profits
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The Property Lexicon
20 April 2012
SWUF /sw f/ abbrev. Increasingly popular derivation, unpronounceable without sounding more Labrador than property agent, it means “sovereign wealth fund”. Example: “I think the SWUFs will love this pin-up bit of kit”. DERIVATIVES — SWF, the acronym for “sovereign wealth fund”. See also: sovereign wealth fund
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Trowbridge braces itself for box office battle
20 April 2012
Two developers plan cinemas but can Wiltshire town cope with both? Christine Eade reports
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Try deploying LPA receiver before nuclear option of administration
20 April 2012
We may not have seen the volume of administrations that many anticipated during this recession, but evidence suggests a recent rise, particularly in the retail sector.
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Two new lettings at British Land's Eldon House
20 April 2012
British Land has secured two new lettings at Eldon House in EC2 totalling 11,000 sq ft.
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UK Commercial Property Trust NAV takes a hit
26 April 2012
Net asset value at UK Commercial Property Trust fell by 1.9% over the first quarter of the year, the company said today.
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UK investment markets shrinks, "Money into Property " says
24 April 2012
DTZ’s influential Money into Property report today revealed that the UK property investment market shrank by 1% in 2011, and predicted further pain to come from bank deleveraging.
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UK market shrinks says DTZ
24 April 2012
DTZ’s influential Money into Property report today revealed that the UK property investment market shrank by 1% in 2011, and predicted further pain to come from bank deleveraging.
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US private equity helps put Cap & Reg into Redditch
20 April 2012
Oaktree Capital Management starts UK push by backing £130m purchase of Kingfisher Shopping Centre
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Vornado promise from Roth
20 April 2012
Steven Roth, chairman of US REIT Vornado Realty Trust, is putting “everything on the table” in an attempt to lift the company’s share price.
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Warner ‘reliant on support of lenders’
23 April 2012
Warner Estate has said it is still marketing properties to reduce its debt and remains “reliant on the continuing support of its lenders”.
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Whitbread reports strong results
26 April 2012
Whitbread, the owner of Premier Inn and Costa Coffee, reported strong results for the year to 1 March 2012 this morning.
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Zero C’s Portland Olympic village
20 April 2012
Building the highest-profile housing development in Dorset has drawbacks as well as advantages.
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Zero chance
20 April 2012
While London’s mayoral race grips the capital, the UK’s other growth city, Aberdeen, faces its own local election.
