All Property Week articles in 02 May 2008 – Page 9
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Mixed use schemes add to Derby’s £2bn regeneration
Two mixed-use schemes in Derby received planning permission this week as a part of the £2bn regeneration of the city centre.
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Commercial property to create £5bn blackhole
Britain's big banks stand to lose as much as a fifth of their profits as the commercial property market implodes, the Bank of England has warned.
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Residential derivatives hit the skids
Trading in residential property derivatives has slowed almost to a standstill, owing to widespread fears about the housing market that have hit direct sales. Financial Times
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Credit correction 'gone too far', says Bank
The correction in the credit markets has gone too far, the Bank of England says today, in a signal that it believes the worst of the global crisis could be over. Financial Times
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Land Securities in resi joint venutre
Land Securities has formed a joint venture with Places for People, the housing developer, to buy more than 2,400 acres north of Harlow in Essex from Ropemaker Properties. The Times
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Abbey offers mortgage rate cheer
Abbey is to reduce its rates for some mortgages, partly in response to the Bank of England’s liquidity scheme which will inject £50bn into the mortgage market. Financial Times
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House prices down 1%
Nationwide’s measure of house prices has suffered its first annual fall in 12 years. Prices are now 1% lower than this time last year, taking £1,759 off the average price of a home in Britain, which is £178,555. The Times, The Independent
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Balfour Beatty wins Swiss work
Balfour Beatty as part of the Transtec Gotthard consortium, has won the rail systems work for the Gotthard Base Tunnel in Switzerland from AlpTransit Gotthard, worth about €250m (£197m) to the company. The Times
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Trump to testify over golf course
Donald Trump will give evidence at a public inquiry into his plans for a golf development in Scotland. The inquiry was ordered by Scottish ministers after Aberdeenshire council rejected plans for the £1bn scheme at Menie Estate. Financial Times
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DTZ Hospitality enters Russia
DTZ has entered the Russian hotel market with the appointment of a new team in Moscow.
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Creditors give stricken Aussie group seven day reprieve
Australian listed property company Centro Properties Group has won a seven day extension from its creditors on all of the debt facilities that had been due for repayment today.
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Tesco to sell its estate agency business
Tesco is in talks to sell its internet estate agency business to Spicerhaart, one of London and the south east’s largest independent estate agencies.
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Evans Randall teams up with Bank of Scotland for €1bn European fund
Evans Randall and Bank of Scotland Corporate have completed the fundraising of a €1bn (£790m) European property fund.
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CBRE first quarter profits halve
The world’s largest property services firm saw its profits more than halve in the first quarter this year, due to the severe downturn in the global property market.
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JLL sees sharp drop in first quarter earnings
The world’s second largest property services firm suffered a 90% drop in first quarter earnings.
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Irish commercial property market weakening, says report
Ireland’s commercial property market is weakening in recent months and has ‘not been immune to the downturn in economic conditions’ said CB Richard Ellis today.
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Real Estate Investors reports strong results
Real Estate Investors, Birmingham’s only quoted property company, has reported a 3.6% rise in the value of its assets for the year, bucking the downturn in the market.
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LandSecs buys Essex land for housing led scheme
Land Securities has entered into a 50:50 joint venture with social housing provider Places for People and is set to agree a land purchase for housing development in Essex.
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University of Cumbria announces £160m development plans
The University of Cumbria has outlined its plans for a £160m property development after being set up a year ago.
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Competition Commission calls for ‘competition test’ in planning and action against land banking
The Competition Commission today called for a ‘competition test’ in planning decisions and recommended actions to prevent ‘land banking’.