All Property Week articles in 11 May 2007 – Page 10
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News
Foxtons set for sale for £400m
Foxtons, London’s largest estate agent, is to be sold for £400m. The Times
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Vector director nets £1m windfall
Vector Hospitality, the hotel REIT set up by Richard Balfour-Lynn, is to give Sir David Michels, shares worth more than £1m as part of its £2bn flotation. The Times
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Aldwych Bank restaurant to be redeveloped
The Individual Restaurant Company is to sell its flagship Bank Aldwych restaurant in London for £3.5m to the property’s landlord. The Times
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St Modwen wins Welsh new town
BP has picked St Modwen as its preferred developer for a new town to be built on the site of its 1,000 acre Llandarcy oil refinery in south Wales. The Times
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New Thai challenge for Tesco
Tesco may face a new setback as it tries to expand in Thailand after the country’s military-installed government endorsed a new law to curb the expansion of foreign retailers. The Times
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Online
Croydon Gateway inquiry to go ahead in September
A date has been set for the inquiry into the hotly disputed Croydon Gateway development site
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OnlineTesco launches legal challenge over Sunderland site
Tesco is to launch a legal challenge to the decision of the Department for Communities and Local Government (DCLG) to approve the Sunderland Arc’s planning application for the former Vaux brewery site in Sunderland.
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OnlineBarclays man joins Manhattan Loft Corp.
Manhattan Loft Corporation has appointed Martyn Bowes as managing director.
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CBRE and Reech team up to launch hedge funds
CB Richard Ellis and derivatives specialist fund manager Reech Alternative Investment Management today confirmed plans to launch a batch of hedge funds investing in property securities and derivatives.
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Baugur poised for summer sales
Baugur, the Icelandic investment group that owns large swathes of the UK high street, is considering selling some of its retail interests over the summer. Sunday Telegraph
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City fears over mayoral powers
The City of London has warned that the capital could be damaged as a financial centre if politicians wave through new planning powers for mayor Ken Livingstone. Financial Times
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Morrison’s is next takeover target
Private equity firms are circling the supermarket group Morrison's, triggering speculation that a £9bn takeover approach is imminent. Sunday Times
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Rank to sell bingo clubs
Leisure group Rank has put almost 10% of its Mecca bingo clubs estate up for sale ahead of the smoking ban in England. Sunday Times
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Councils' £10bn private property plans
More than £10bn of council-owned property could end up partly in private hands following Croydon Council's announcement that it is to set up a joint venture property development scheme. Sunday Telegraph
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Mitchells & Butlers resists Tchenguiz's REIT demands
Pubs group Mitchells & Butlers is set to disappoint Robert Tchenguiz by ruling out spinning off its £5.5bn property portfolio into a REIT. Sunday Telegraph
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Kingfisher shuts Korean B&Qs
Kingfisher is to close its B&Q stores in South Korea and withdraw from the country. Daily Telegraph
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BUPA hospital bids hit £1.4bn
Bids for the UK hospitals arm of BUPA reached close to £1.4bn after the close of the first round last week. The Times
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Brown prepares autumn planning revolution
Gordon Brown plans a radical shake-up in Britain’s planning system early, introducing legislation into parliament this autumn, Whitehall insiders have revealed. Financial Times
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CB Richard Ellis launches Iceberg hedge fund
CB Richard Ellis and boutique derivatives specialist Reech AiM have launched a £100m property hedge fund. Financial Times
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Online
Sackville lands extra Station Hill site
Sackville Properties has acquired a prized site next to its proposed Station Hill development in Reading for an undisclosed price.
