22 June 2012
Property Week
View all stories from this issue.
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SWIP buys in Glasgow
21 June 2012
Scottish Widows Investment Partnership has made a prime retail purchase in Glasgow.
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Team effort needed to create institutional resi sector
22 June 2012
There has been a dramatic shift in demand for housing in the last two decades.
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€700m Santander portfolio sale collpases
22 June 2012
The sale of a €700m Spanish loan portfolio sale from Santander to Morgan Stanley has collpased after the pair could not agree a price.
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Abramovich plays Battersea blinder
22 June 2012
Property Week reveals Chelsea and Almacantar’s eye-catching plans for Battersea Power Station, which have been benched — for now
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AkzoNobel shelves 60,000 sq ft requirement
25 June 2012
AkzoNobel, the Dutch paint and coatings company, has put its requirement for more than 60,000 sq ft of offices in the south east on hold, PropertyWeek.com understands.
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Albion Land to create Bicester network
22 June 2012
Albion Land will submit an outline planning application to Cherwell District Council next month for the development of a 50 acre business park that will be called Network Bicester.
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Amersham sheds sell for £100/sq ft
22 June 2012
Peter Beckwith’s PMB Holdings has sold speculative industrial space after stripping back Amersham Commercial Park to its steel frame, and developing units that total 81,482 sq ft on White Lion Lane.
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Annabel’s & Cannes: the crazy antics of the SFO
22 June 2012
Wednesday 9 March 2011 was the most dramatic day in MIPIM’s 21-year history.
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Architects and developers reinvent City
22 June 2012
The Developing City exhibition has opened this week in the City of London, showcasing architects’ visions of the Square Mile in 2050.
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ASOS to shed Hemel warehouse
22 June 2012
Online fashion retailer ASOS will be freed from property liabilities for its Hemel Hempstead logistics warehouse in August, when it exercises a break clause to leave the facility.
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Assura aims for REIT conversion
26 June 2012
Assura Group, the primary healthcare property investor, is aiming to covert to a REIT.
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Barclays hunts in the south east
25 June 2012
British bank Barclays has launched a requirement for 60,000 sq ft of office space in the south east.
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Bernstein takes bow on West End stage
22 June 2012
Manchester City Council chief to chair Westminster’s commission on business
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BNP Paribas Real Estate’s Slade reveals aggressive expansion plan
28 June 2012
BNP Paribas Real Estate’s new chief executive John Slade has told staff he plans to double turnover by carrying out a massive hiring spree, PropertyWeek.com can reveal.
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BNP Paribas Real Estate's hiring spree
28 June 2012
BNP Paribas Real Estate’s new chief executive John Slade has told staff he plans to double turnover by carrying out a massive hiring spree, PropertyWeek.com can reveal.
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British Land buys Daily Mail printworks
27 June 2012
The Daily Mail has sold its 14.5 acre printing works site at Harmsworth Quays to British Land, as revealed by Property Week.
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Brookfield seeks prelets for Hammerson’s City assets
22 June 2012
US developer will use £518m London offices as platform to expand into London market
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Captains, keep cool: Management advice
22 June 2012
Property Week’s management guru Alan Froggatt tackles missed targets, business development and transportable skills
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Carter Jonas arrives in London
22 June 2012
Regional adviser aims to focus on planning and development. Sarah Stewart reports
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Centre:MK prelet to kick off extension plans
22 June 2012
Hermes and Prupim are within days of naming the retailer that has taken a prelet on most of the 90,000 sq ft extension to the Centre:MK.
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Crest Nicholson’s starring role at Surrey studios
22 June 2012
Film studio site to be redeveloped in £500m mixed-use scheme. Emma Haslett reports
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Crown Estate’s diamond year
22 June 2012
Monarch’s property company reaches market-defying record value of more than £8bn
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CSC submits plans for Lakeside Travelodge hotel
26 June 2012
Capital Shopping Centres has submitted a planning application for the development of an 81-bed Travelodge hotel at its Lakeside Shopping Centre.
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Deichmann takes UK in its stride
22 June 2012
German shoe retailer aims to open 400 stores across the country. Rachel Hunter reports
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Edinburgh investment sales
22 June 2012
Irish Life has put up for sale the Citymark building in Edinburgh for £37.3m, at a yield of 6.5%.
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Element Six’s precious new home
22 June 2012
Diamond manufacturer adds sparkle to Goodman’s Oxford park with 50,000 sq ft prelet. Christine Eade reports
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Ellandi’s White River raft
22 June 2012
Ellandi and Tristan Capital Partners have completed one of the first significant purchases from the £900m loan portfolio sold by Lloyds Banking Group last December.
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Eurohypo team ponders management buyout
27 June 2012
The management of Eurohypo’s UK lending arm is weighing a management buyout of the division following the parent company’s decision to close down the business yesterday.
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Eurohypo UK team ponders management buyout
27 June 2012
The management of Eurohypo’s UK lending arm is weighing a management buyout of the division following the parent company’s decision to close down the business yesterday.
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European property giant to stop new lending
27 June 2012
One of the largest lenders to commercial property in Europe is to stop all new lending, after its parent company decided it was not a business it wanted to continue.
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European property giant to stop new lending
27 June 2012
One of the largest lenders to commercial property in Europe is to stop all new lending, after its parent company decided it was not a business it wanted to continue.
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European property transactions plunge
26 June 2012
Property transactions in Europe’s troubled economies have plunged 65% in a year, according to CBRE.
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First look: Morrisons stationed in Hillingdon
22 June 2012
Morrisons and development partner Bride Hall have submitted a planning application for a supermarket on land next to Hillingdon Tube station, in north-west London.
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Ford speeds into Bristol industrial park
28 June 2012
Ford Retail has signed the first pre-let for a 14,405 sq ft showroom at Goodman’s Northfield Park industrial estate in Bristol.
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Former Invista head wins new mandate for Schroders
22 June 2012
While Palmer Capital was trumping rival Internos for the remains of Invista Real Estate Investment Management, the company of its former chief executive, Duncan Owen, was winning a new mandate of its own.
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Former Sound nightclub in Leicester Square put up for sale
28 June 2012
The former Sound nightclub on Leicester Square in London has been put up for sale.
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Forum Partners services £30m London office start-up
22 June 2012
Forum Partners is providing £30m of equity funding for a new London serviced office company.
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GDF Suez’s Leeds power play
22 June 2012
Energy company GDF Suez has agreed to lease 30,000 sq ft at IVG’s No 1 Leeds development in the city (below).
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Goodman gets nod for Arla Foods depot
26 June 2012
Goodman has secured planning consent for a 231,000 sq ft shed at Hatfield Business Park.
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Grainger wins consent in riot-torn borough
26 June 2012
Grainger was last night granted planning consent for a redevelopment in the area worst-affected by last summer’s riots.
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Grainger wins key consent for scheme in riot-torn borough
26 June 2012
Grainger was last night granted planning consent for a redevelopment in the area worst-affected by last summer’s riots.
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Hawksmoor on the moove
22 June 2012
Steak restaurant Hawksmoor has signed to open its fourth London restaurant, on Regent Street.
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Healthcare goes private
22 June 2012
New NHS Property Services company likely to form regional joint ventures to run £5bn healthcare estate. Sarah Townsend reports
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Hendon's Regal makeover
22 June 2012
London-based developer Regal Homes has been given planning permission to build 10 flats at a site on Queen’s Road in Hendon, north-west London.
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High street is ‘finito’ unless it takes the bull by the horns
22 June 2012
The crisis that has pushed Spain to the brink of financial ruin has given the fighting bull a dubious win of sorts.
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How to … survive midsummer speech nightmare
22 June 2012
The summer party season is now in full swing, and there will be no shortage of opportunities for senior staff to stand up in front of an audience.
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Invesco sells Paris building to Swiss Life Assurance
22 June 2012
Invesco Real Estate has sold the Paris headquarters of French food manufacturer Casino Group to Swiss Life Assurance et Patrimoine.
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Investors face mounting problem of obsolescence
22 June 2012
BCO research reveals 15% of portfolios failing to meet demands. Sarah Townsend reports
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Investors face mounting problem of obsolescence
22 June 2012
BCO research reveals 15% of portfolios failing to meet demands. Sarah Townsend reports
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Investors in Bond Street are going for gold
22 June 2012
There is an extraordinary correlation between the price of gold and Bond Street property.
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Investream returns with deal trio for US giant
22 June 2012
The property company set up by a duo of Jones Lang LaSalle directors has made a return to the market with a trio of deals on behalf of a giant private equity fund manager.
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Irn-Bru brews plans at Magna Park
22 June 2012
Gazeley will embark on its first development at Magna Park in September since buying out the former joint owner, Land Securities, last month.
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JLL wins Logica global mandate
26 June 2012
Technology company Logica has appointed Jones Lang LaSalle as advisor to its global property portfolio.
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JP Morgan fund buys Paris assets
22 June 2012
An institutional property fund advised by JP Morgan Asset Management has bought two buildings in Paris.
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Kier Group reveals £750m development pipeline
25 June 2012
Kier Group has revealed a development pipeline valued at around £750m and has said its property business is trading well and is in line with expectations.
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King’s Cross Central scores rare spec loan
22 June 2012
Eurohypo returns to lending with debt package for speculative development
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Kings of Soho
22 June 2012
Soho Estates’ John James and Steve Norris plan to transform streets synonymous with sleaze into edgy, upmarket bars, shops and restaurants. Hardeep Sandher met them. Photographs by Tim Foster
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Kings of Soho: James and Norris's Soho transformation
22 June 2012
Soho Estates’ John James and Steve Norris plan to transform streets synonymous with sleaze into edgy, upmarket bars, shops and restaurants. Hardeep Sandher met them. Photographs by Tim Foster
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Land Securities' head of retail leasing quits
27 June 2012
Land Securities’ head of retail leasing has quit the firm.
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LaSalle buys Coventry retail block
22 June 2012
LaSalle Investment Management has completed the purchase of the long leasehold interest of a retail block in the centre of Coventry.
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Lights, camera, action for Crown Estate at BAFTA HQ
28 June 2012
The Crown Estate is under offer to buy the iconic Princes House on Piccadilly, the headquarters of the British Academy of Film and Television Arts (BAFTA). The group is paying around £86m for the building.
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Lloyds agrees terms with Co-op on branch sale
28 June 2012
Lloyds Banking Group has confirmed it has agreed terms with the Co-operative Group on the sale of 632 of its high street branches.
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London & Stamford completes Surrey office acquisition
28 June 2012
London & Stamford has acquired Unilever House on Leatherhead Office Park in Surrey for £61.15m, as revealed by Property Week.
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London & Stamford in £147m resi splash
22 June 2012
London & Stamford has bought a residential block in London’s Chelsea from one of the world’s biggest sovereign wealth funds for £147m.
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London cranes standing in stagnant sites
22 June 2012
London residential development has “largely stagnated” over the last six months, the latest Drivers Jonas Deloitte Crane Survey claims.
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Louch Shacklock & Partners rises from ashes of Douglas Duff
22 June 2012
Former Milton Keynes directors start afresh following agency’s administration in April. Christine Eade reports
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McBains Cooper Kabul call-up
22 June 2012
Property and construction consultancy firm McBains Cooper has been drafted in to help redevelop Kabul, capital of Afghanistan, as Britain and the US prepare to pull their troops out.
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McDonald's unveils flagship Olympic Park restaurant
26 June 2012
McDonald’s has provided a sneak preview of its biggest ever restaurant, built for the London 2012 Games at the Olympic Park in Stratford.
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Meyer Bergman launches €1bn European retail fund
26 June 2012
Meyer Bergman, the European retail real estate fund manager, is believed to have secured around €130m of equity at the first close of its second fund.
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Meyer Bergman launches €1bn fund
26 June 2012
Meyer Bergman, the European retail real estate fund manager, is believed to have secured around €130m of equity at the first close of its second fund.
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Nairobi tops global prime residential rent growth list
28 June 2012
Prime residential rents across the world rose by less than 2% in the year to March, the weakest annual rate of growth since the final quarter of 2009, a report by Knight Frank has found.
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Need to know: Portas to pep up Bedford High Street
22 June 2012
Last month, Bedford was one of 12 towns chosen by the government out of 370 that applied to be a Mary Portas pilot. The borough council will receive £50,000 from the £1.2m pot. Christine Eade explains what happens next
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New City investment head for Strutt & Parker
19 June 2012
Strutt & Parker has appointed a new head of City investment following key defections at the end of last year.
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New Look agrees debt deal but shuts stores
26 June 2012
Fashion chain New Look has agreed a refinancing package with its lenders, but will shut 100 stores in the coming years.
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No more child's play: RBS brings an end to loan sale strategy
22 June 2012
If you want to get an inkling into the Royal Bank of Scotland’s loan sale strategy, a good place to start is Rory Cullinan’s family tree.
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Norges edges closer to clinching Meadowhall stake
22 June 2012
Norway’s giant sovereign wealth fund has entered into exclusive talks to buy a prized stake in one of the UK’s largest shopping centres, Meadowhall in Sheffield.
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Office Group takes 30,000 sq ft prelet at scheme
22 June 2012
Serviced office provider the Office Group has taken a 30,000 sq ft prelet at the E1 property at King’s Cross Central.
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Olympic Park receives planning consent
28 June 2012
The London Legacy Development Corporation has been granted outline planning permission for its master plan of the Queen Elizabeth Olympic Park.
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Palmer closes in on Invista remnants
22 June 2012
But £39.7m takeover of former HBOS arm will not be a simple process. Mike Phillips reports
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People Moves: 22 June
22 June 2012
Nick Viner has left BNP Paribas Real Estate, where he was a director, to become director of workplace for the UK business of architectural firm HKS.
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People Moves: Eddisons, GVA, BlackRock and more...
22 June 2012
Nick Viner has left BNP Paribas Real Estate, where he was a director, to become director of workplace for the UK business of architectural firm HKS.
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Pickles calls in St Modwen’s Telford supermarket plan
26 June 2012
St Modwen’s plans for a new Sainsbury’s store on a greenfield site north of Telford have been called in.
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Picton secures two new debt facilities
28 June 2012
Picton Property Income has secured two separate debt facilities from insurers Aviva and Canada Life,it announced today.
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Pop-up shops are the future, so prepare the legal ground
22 June 2012
Retail is changing fast. One of the new trends that has emerged in recent years — and which appears to be flourishing — is the concept of “pop-up” stores: the opening of temporary retail and leisure spaces to make use of otherwise derelict space.
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Porsche Design eyes shop
22 June 2012
Fashion retailer Porsche Design is searching for a London store after giving up its New Bond Street shop.
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Portas criticises upward-only reviews
22 June 2012
The government’s high street tsar, Mary Portas, has attacked upward only rent reviews for preventing new businesses from opening on UK high streets.
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Pricoa makes debut UK property loan
25 June 2012
Pricoa Mortgage Capital has closed a £70m commercial real estate loan in the UK, the first financing since launching its European business earlier this year.
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Property Week Digital Edition - 22 June 2012
22 June 2012
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PW’s Barrie loses his head
22 June 2012
“Off with his head!” they cried (well, texted, actually) when voting closed at Party at the Tower by the Tower of London last Thursday night.
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PW’s Barrie loses his head
22 June 2012
“Off with his head!” they cried (well, texted, actually) when voting closed at Party at the Tower by the Tower of London last Thursday night.
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Q+A: McCrae tunes into FM at Cluttons
22 June 2012
Cluttons has bought the facilities management (FM) company McCrae Martin Duncan, to which it outsourced this service for the last two years.
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Quinn found in contempt of court
26 June 2012
Irish former billionaire Sean Quinn could face jail after he was found in contempt of court for putting assets beyond the reach of the former Anglo Irish Bank.
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Quintain teams up with Hong Kong billionaire in Greenwich
22 June 2012
Quintain’s shares jumped by 15% to 38p on Monday after it signed a funding partner for its 14m sq ft residential-led development around the O2 in London’s Greenwich.
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Regus signs motorway deal
25 June 2012
Regus Third Place has formed a new partnership with Extra Motorway Service Area Group to open Regus business centres in motorway service areas.
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REIT keeps focus on Shoreditch
22 June 2012
Hammerson and Ballymore have appointed Cushman & Wakefield to find office occupiers for its Goodsyard project in Shoreditch on the edge of the City of London.
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Rent game rage
22 June 2012
LandSecs, Capital Shopping Centres and Hammerson prepare legal test case against PWC in retailer row
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Rent game rage: Game landlords' legal row
22 June 2012
LandSecs, Capital Shopping Centres and Hammerson prepare legal test case against PWC in retailer row
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Research veteran Paul McNamara to retire from Prupim
27 June 2012
Leading property researcher Paul McNamara is retiring from the Prudential after 25 years at its property fund management arm.
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Restaurant chain in prepack rescue
26 June 2012
A leading south east restaurant chain has been sold as part of a prepack administration today.
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Revealed: List of 60 Staples stores at risk of being disposed of, downsized or relocated
28 June 2012
Staples, the world’s largest office products retailer, is considering disposing of, downsizing or relocating just under half of its UK store portfolio.
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Revenues hit the roof at United House
27 June 2012
Developer and contractor United House says revenues for the year to the end of December rose to £239m, from £201m in 2010.
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Ritblat’s Delancey taps US for £350m bond issue
22 June 2012
Real estate fund manager joins Grosvenor and British Land in lucrative US private-placement market
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Ronson gets nod for Chiltern Street resi scheme
27 June 2012
Ronson Capital Partners (RCP) has received consent to redevelop an 80,000 sq ft office block in the West End into residential space.
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Ronson gets nod for resi scheme
27 June 2012
Ronson Capital Partners (RCP) has received consent to redevelop an 80,000 sq ft office block in the West End into residential space.
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Safestore reports drop in earnings
27 June 2012
Safestore, the self-storage provider, suffered a drop in earnings and net asset value in the six months to 31 March.
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Sainsbury’s sources Local sites in London and beyond
22 June 2012
Sainsbury’s aims to expand its “Local” convenience format by at least 30 stores in London this year, and is racing to take the limited sites that are available in the capital.
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Savills and Carbon Trust to help slash occupier energy bills
27 June 2012
Savills and the Carbon Trust have teamed up to help commercial property occupiers reduce carbon emissions from their buildings.
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Savills to market Midtown office development
25 June 2012
Cordea Savills has brought 10 Fetter Lane in London to the market for a guide price of £26.8m. The price reflects net initial yield of 5.75%.
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Schroders wins £135m mandate
22 June 2012
Schroders’ Property Multi-Manager team has won a new £135m mandate.
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Segro completes £204.5m industrial sale and cancels £82m of debt
25 June 2012
Segro has completed the sale of four non-core UK industrial estates for £204.5m to a fund advised by Harbert Management Corporation and has cancelled £82m of debt facilities.
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Segro plumps for CBRE and specs
22 June 2012
CBRE has replaced DTZ as valuer to Segro’s portfolio of wholly owned properties.
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Segro's £204.5m industrial sale
25 June 2012
Segro has completed the sale of four non-core UK industrial estates for £204.5m to a fund advised by Harbert Management Corporation and has cancelled £82m of debt facilities.
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Shedding light on why Toronto and Aberdeen are recession-proof
22 June 2012
Urban theorist and cartographic superstar, Richard Florida, delivered a characteristically bravura speech as he tripped through London via the ULI Europe Trends Conference on 30 May.
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Silver's Spanish bailout
22 June 2012
Ping! An urgent request for help was sent to Ludgate on Tuesday from the personal email account of Trevor Silver, director of Landid.
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Spanish banks hit by fresh property woes
26 June 2012
Spain’s beleaguered banking sector took a fresh knock last night when even its strongest lenders were downgraded by ratings agency Moody’s.
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St Albans’ Verulam Point full following Rockspring revamp
22 June 2012
Final letting shows supply and demand imbalance as refurbished offices achieve just less than top-of-the-market rents. Christine Eade reports
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St Albans’ Verulam Point full following Rockspring revamp
22 June 2012
Final letting shows supply and demand imbalance as refurbished offices achieve just less than top-of-the-market rents. Christine Eade reports
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St Botolph lands largest let
22 June 2012
Jardine Lloyd Thompson to consolidate staff in 280,000 sq ft in biggest deal this year
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Storm in an economic cup
22 June 2012
People are always searching for new ways to describe the abstract twists and turns of the UK’s rollercoaster economy.
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Studley forges further global alliances
22 June 2012
International “tenant rep” adviser AOS Studley has signed strategic partnerships to enter sub-Saharan Africa, northern Europe and Russia.
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Tchenguiz tallies up huge damages
22 June 2012
After fraud action is dropped, entrepreneur prepares claims
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Telford Shopping Centre leisure extension gets consent
25 June 2012
Area Property Partners has secured planning consent for a leisure extension to Telford Shopping Centre.
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Thames Valley veteran to step down
27 June 2012
Roger Hicks, the founder of Reading and Thames Valley agent Hicks Baker, is to step down after 23 years at the helm, PropertyWeek.com can reveal.
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The Property Lexicon
22 June 2012
Granular ‘græn.j .l rToo fiddly for most investors, but sweet returns available for those who can be bothered. Nothing to do with Silver Spoon or, for that matter, the Apprentice.
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The Quill gets planning consent from Court of Appeal
25 June 2012
The Quill, a 500-bed student accommodation scheme on the South Bank in London, has been granted planning consent by the Court of Appeal.
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Top PhD support for Sanderson
22 June 2012
She is a former Krypton Factor contestant who has represented Great Britain 21 times in marathon and half-marathon events.
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Transfer of NAMA debt to Barclay brothers valid, Court of Appeal rules
27 June 2012
The billionaire Barclay brothers today won an appeal over whether or not their acquisition of £660m of debt from Ireland’s National Asset Management Agency (NAMA) was valid.
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Truffle Hunting to open first restaurant in London
26 June 2012
Truffle Hunting, the restaurant management and consultancy firm, is planning to launch its eponymous first restaurant on Goodge Street, in central London.
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UK house prices to shoot up despite downturn
22 June 2012
BNP Paribas Real Estate figures suggest UK house prices will achieve cumulative growth of 34% between 2007 and 2016, an annual rate of 6% (graphs, below).
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Unibail-Rodamco’s German retail venture
22 June 2012
Unibail-Rodamco is to buy from opportunity fund manager Perella Weinberg Partners a 51% stake in MFI, the German shopping centre company that has up to €2bn of assets.
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US data centre giant makes £715m UK splash
26 June 2012
One of the world’s largest data centre owners has made a £715m UK push, as one of the few bright sectors for property continues its boom.
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Westbrook aims for full control of O Twelve
28 June 2012
Westbrook, the private equity real estate investment management firm, is aiming to take full control of a £154m portfolio of properties in the Thames Gateway.
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Westfield Stratford to close early ahead of Olympic opening ceremony
27 June 2012
Westfield Stratford is likely to have to shut early on the day of the Olympics opening ceremony following a request from the London Organising Committee of the Olympic and Paralympic Games (LOCOG).
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What’s happened to ‘real’ developers?
22 June 2012
Sir, The developer, in the old sense of the word — meaning someone who takes on risk — has been a dying breed for many years and some could say, like dinosaurs, is now extinct.
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Won Woser
22 June 2012
Ludgate was perturbed to see the England football team manager so far from Euro 2012 in Poland and Ukraine last Tuesday night.
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Wrong call by BT led to sublet hitting the buffers
22 June 2012
The message:Failure to strictly satisfy a precondition lost a landlord a letting
