All Property Week articles in 04 December 2009 – Page 2
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Dubai bond dip signals more trouble
The tumble in bonds of Dubai’s state-controlled companies to record lows signals growing concern more borrowers will fall behind on debt payments as Dubai World seeks to restructure $26bn of obligations.
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US homeowners lost $5.9tr in bust
US homeowners have lost about $5.9tr in value since the housing market’s peak in March 2006 as mounting foreclosures and the recession weighed on prices, according to Zillow.com.
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University of the Arts gets green light for Charing Cross redevelopment
The University of the Arts London has won planning permission for a residential-led mixed use redevelopment of its campus on Charing Cross Road in London’s West End.
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Aviva appoints Catriona Allen to multi-manager arm
Aviva Investors has appointed Catriona Allen as fund manager in its real estate multi-manager team.
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ProLogis European secures two new loan facilities
ProLogis European Properties (PEPR) has raised €92.8m of secured financing with two European banks.
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DTZ reports half-year loss of £20.6m
DTZ suffered a pretax loss of £20.6m in the six months to 31 October after making £16m of one-off charges.
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Giles Barrie’s Pre-Budget Report blog shows little to turn property on
Read Barrie’s Pre-Budget Report Blog
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Hudson Advisors Europe expands in Central London
Hudson Advisors Europe has opened an office in London as part of its expansion in Europe.
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DTZ to manage Central Europe’s largest mixed-use development
Ballymore has appointed DTZ to manage the retail element of its 230,000 sq m Eurovea scheme on the banks of the Danube River in Bratislava, Slovakia.
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Sandbanks beachfront sites up for sale
Savills is marketing the sale of a prime area of beachfront development land in the sought-after Sandbanks area in for £7.5m.
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Elton John to open temporary shop in Covent Garden
Pop singer Elton John’s Aids Foundation is to open a ‘pop-up shop’ called “Out the Closet” at Covent Garden for two weeks.
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St Martins lets final retail unit to Pod Food
Property company St Martins has let the last remaining retail unit at its 150 Cheapside office development in the City of London to healthy food outlet Pod Food.
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Effects of property crash seen until next year
There will be another year before the effect of the property crash has come to an end, according to the UK investment forecasts of a leading consultancy.
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King Sturge partners forgo half their pay as profits halve
King Sturge’s partners gave up half of their remuneration last year so that the money could be retained for use as working capital.
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Workspace buys up other half of venture
Workspace, the business space provider, has purchased the half of a joint venture that it did not own from HBOS for £83m ($135m), partly through a share placing to raise £18.9m.
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House price rises beat expectations
House prices rose by more than twice as much as economists predicted in November as demand for property outstripped supply.
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Canary Wharf Group sells 5 Churchill Place
Canary Wharf Group has agreed to sell its long leasehold interests in 5 Churchill Place for £208m to a limited patnership owned and controlled by a Middle Eastern private investor based in Bermuda.
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Hanseatic Funds to buy 5 Chancery Lane
German fund manager Hanseatic Funds has placed Ignis Asset Management’s 5 Chancery Lane in London under offer for around £49m at a yield of 6.6%.
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Bicester Village refinanced in £190m five bank deal
Five banks have refinanced Value Retail’s Bicester Village scheme in Oxfordshire in a £190m transaction.
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Conygar reveals massive profit on TAP takeover
Conygar, the AIM-listed property company headed by Robert Ware, made a profit of £21.8m from the acquisition of the Advantage Property Income Trust (TAP) in August.