All Property Week articles in 12 December 2003 – Page 3
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Insight
At last, Gordon Brown looks set to do the REIT thing
It is everything the property industry could have hoped for. The chancellor Gordon Brown's announcement on Wednesday that he would consult on a new tax-transparent property investment vehicle was well ahead of schedule. Most had hoped for a hint in the new year or in the Budget next March that ...
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News
Drake and Swan fly Brixton nest
Brixton has sold the freehold interest in Drake and Swan House in Homestead Road, Rickmansworth, Hertfordshire, to Jersey-based European investment vehicle Zamora for £18.3m. CB Richard Ellis acted for Brixton. Zamora was advised by DTZ .
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News
Oracle and Wimpey in Brighton link
Oracle Group has formed a joint venture with housebuilder Wimpey to develop a £30m mixed-use development at Jubilee Street in Brighton. Oracle subsidiary Larrik is developing the commercial, which comprises 250,000 sq ft (23,225 sq m) including 40,000 sq ft (3,740 sq m) of retail and leisure, while Wimpey will ...
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News
Derivatives market boost
The Inland Revenue this week issued draft legislation to facilitate the development of a property derivatives market. The government hopes a strong derivatives market, where investors trade the potential gains and losses from properties rather than the buildings themselves, will increase the overall efficiency and liquidity of the property investment ...
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News
Pompey’s biggest for two years
Sovereign Land has secured the biggest industrial letting in Portsmouth for two years. It has let 55,820 sq ft (5,185 sq m) at its Interchange Park scheme to home delivery company Focus Logistics, which has taken a 10-year lease at £5.95/sq ft (£64.05/sq m). Vail Williams and King Sturge ...
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Insight
You may scoff, but for hungry drivers Little Chef made a big difference
The last word, with Steven Norris
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News
Despard set to seal SJ Berwin's City letting
Patrick Despard's City & West End Developments is set for a coup by attracting law firm SJ Berwin to its Milton Gate office building in Chiswell Street, London EC2. SJ Berwin is poised to announce its new headquarters location and the building, where BT and PricewaterhouseCoopers have vacated ...
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News
Irish investors win battle of Hastings
Boots Properties has sold its Priory Meadows shopping centre in Hastings, East Sussex, to private Irish investors for £61.5m. The deal, which reflects a net initial yield of 7%, was tipped in Property Week (news, 5 September, p8). The private buyers, represented by Belfast-based property consultant BTWShiells, beat more ...
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Professional
The law made simple - Battle to escape contract to buy fails
A company that had agreed to buy three flats for £5.85m has failed in its claim that, because the vendor failed to serve a written notice, it was released from its contract and entitled to recover its deposits. However, the court did exercise its discretion and ordered the repayment of ...
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News
Reichmann facing axe
Paul Reichmann's future at Canary Wharf Group was this week uncertain after a £1.56bn formal bid made by Silvestor UK Properties, a vehicle led by Morgan Stanley, was recommended by the group's independent committee. Reichmann, who last month handed over his chairmanship of Canary Wharf Group to Sir Martin ...
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News
Teesland bids for API
Offer of around £45m on the table following collapse of British Land deal
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News
Erinaceous aims high as Real Estate boom continues
Erinaceous Group made a positive debut on the AIM at the end of last week. Shares in the property services company, which operates in the public and private sectors, rose 5%, or 10.5p, to 140.5p on its first two days of trading after joining the AIM on the Thursday. The ...
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News
JLL lands Shell global advice prize
Agent will advise on portfolio of 65,000 properties worldwide
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News
Mapeley sells former Abbey National HQ
Mapeley has sold Abbey House, the former headquarters of Abbey National on London's Baker Street, to CIT. The 100,000 sq ft (9,290 sq m) building (below) was sold for around £18m. CIT, which beat competition from Hines and Galliard Homes, plans to submit a planning application for a ...
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News
Syndicate poised for £95m Fulham buy
Merchant Place in line to buy Pillar's west London leisure scheme
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News
French sell £90m assets
One of France's top property companies is selling almost all of its London portfolio for £90m. Bail Investissement has instructed Knight Frank to sell the 98,890 sq ft (9,187 sq m) Templar House on High Holborn. The building is valued at around £45m. The other two buildings are being ...
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News
Dixons sells 90% stake in Euro specialist Codic
electronics retailer Dixons has sold its 90% holding in Codic International, the specialist European property development business, for ¤33.3m (£23.6m). The buyers are a group of Belgian investors, comprising Sofina, Agridec and Compagnie Bois Sauvage, together with the existing Codic management team. The management team, which owns the outstanding 10% ...
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News
£500m Bristol green light
The Bristol Alliance’s £500m redevelopment plans for the city’s Broadmead were granted detailed planning consent this week by the city council. The Alliance – comprising Land Securities , Hammerson and Morley Fund Management – is planning 1.1m sq ft (102,190 sq m) of retail plus offices and residential. ...
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