All Property Week articles in 01 April 2010 – Page 4
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Online
UK house prices face prolonged bear market
The housing market may now be trapped in a long-term bear market and may not bounce back to the peaks it reached in 2007 for generations, a leading economic consultancy has warned.
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Online
Administrators seize £850,000 of art from property adviser Pierre Rolin
Administrators have seized £850,000 of valuable art from the home of a London property adviser, Pierre Rolin, amid claims that his collapsed firm managing $6.5bn (£4.25bn) of assets for a key Middle Eastern client had been making "unauthorised payments".
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Online
HCA outlines "exceptional performance" in year-end figures
Sir Bob Kerslake, chief executive of The Homes and Communities Agency (HCA) today hailed “an exceptional performance for housing starts and completions” for the group in the year to 31 March, 2010.
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Online
Premier Inn signs for new hotel in Glasgow
Whitbread has signed a deal with ING to convert a former office block on Glasgow’s West Nile Street, just off Sauchiehall Street, into a new 210-bedroom Premier Inn hotel.
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Online
Best first quarter City take up in 10 years says CB RIchard Ellis
Take-up of office space in the City of London is the highest on record since 2000, according to the latest research from CB Richard Ellis.
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Online
Basingstoke & Deane council buys The Malls shopping centre
Basingstoke and Deane Borough Council have bought the town’s shopping centre, The Malls, through acquiring co-owner Key Property Investments’ 65% share in the property.
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Online
Barrie Blogs: A very open banker
I haven’t yet heard a banker speak more openly than Lloyds’ managing director for corporate real estate Richard Dakin this week.
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Online
MPs deliver damning verdict on Fire and Rescue Control Centre rationalisation
The governmen's attempt to replace 46 local control rooms with nine new regional ones since 2004 has been inadequately planned, poorly executed, and badly managed, according to the Communities and Local Government Select Committee.
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Online
General Growth plan allows time for rival bidders
General Growth Properties’s proposal to exit bankruptcy with funding from Brookfield Asset Management. has a clause that will give the company until the end of the year to complete a takeover deal with another party, according to two people with knowledge of the plan.
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Online
Nakheel offers leave investors unimpressed
About 700 people who invested in homes in Nakheel’s delayed Palm Jebel Ali say they are unhappy with the Dubai World-owned developer’s offer of alternative properties, and plan to hire lawyers to argue their case.
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Online
Fed opens books toxic assets
The Federal Reserve Bank of New York lifted a veil of secrecy on the troubled mortgage assets it bought as part of the 2008 rescues of Bear Stearns and AIG.
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Online
Japan REITs double purchases
Japan’s 38 publicly traded real estate investment trusts more than doubled the purchase of property in the first quarter as credit conditions eased, a research firm said.
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Online
Latest asking prices fall at HK's Festival City
Cheung Kong has cut prices and lowered the required down payment to lure buyers to Festival City in Tai Wai amid concerns the development is not selling as well as expected, property agents say.
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Online
State needed to cut UAE mortgage cost
State help is needed to whittle down the cost of home loans in the UAE and to push local banks to improve mortgage availability, a real estate expert has said.
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Online
California hotel foreclosures jump 27%
Hotel foreclosures in California climbed 27% in the first quarter from a year earlier as unemployment cut business travel.
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Online
Aviva Investors swoops on West End property
Aviva Investors has bought the long leasehold IVG’s 111 The Strand development in London’s West End for £35m reflecting a net initial yield of 5.1%.
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Online
Evans Randall to sell Condor House
Evans Randall instructed CB Richard Ellis to sell Condor House in the City for around £100m reflecting an aggressive 5.75% yield.
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Insight
Telling porkies
Sir, Your recent piece “PIGS in a poke” (Property Week Global, March) was interesting but misleading
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News
Savills: Where there is play, there is pay
Savills’ latest leisure bulletin, published this month, claims 2010 is a good time to sell leisure assets
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News
Smith offers workout service
I was delighted to hear from former investment surveyor Simon Smith, whose CV includes stints at Fletcher King, Conrad Ritblat and Richard Ellis