All Property Week articles in 14 December 2007
View all stories from this issue.
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News
Delancey buys into schools sector
Delancey Estates has bought Alpha Plus, Britain’s second-largest owner of independent schools for £113m. Sunday Times, Financial Times, Daily Telegraph The portfolio of 18 schools and colleges includes Wetherby School in Notting Hill, once attended by Princes William and Harry. Paul Goswell, managing director of Delancey, said there was still ...
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Canary Wharf Group donates to Labour 'for Crossrail promotion'
Canary Wharf Group gave more than £120,000 to the Labour party to help to gain access to ministers and key officials during a lobbying campaign for a new rail link. Sunday Times
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New store blitz by Somerfield
Somerfield, part-owned by Robert Tchenguiz, has ambitious plans to open 250 new stores over the next three years and to increase its 900-strong store portfolio by more than a quarter. Sunday Times
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Citibank warns of 10% house price drop
House prices are set to fall by 10% over the next three years, experts at Citigroup have warned. Sunday Telegraph
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Olivant ready to stump up for Rock
Olivant, the consortium led by former Abbey National boss Luqman Arnold, is bowing to pressure to pay £800m for troubled mortgage lender Northern Rock. Daily Telegraph
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Trocadero in $20m fraud suit
Asif Aziz, the property magnate who owns the Trocadero, is being sued for $20m over claims that he defrauded a Lebanese businessman. Sunday Telegraph
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Poorer areas set for house price rises
Some of the UK’s poorest areas could see the biggest increases in house prices next year, despite average property values across the country remaining unchanged. Daily Telegraph
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Debt highest since 1991 as commercial property falters
The proportion of households paying more than 20% of their gross salaries on mortgages and other debts is now higher than it was in 1991, amid the last housing crash, says the latest Bank of England Quarterly Bulletin. Daily Telegraph Financial Times
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Squeeze drives rise in equity release
The popularity of equity release products has jumped as more conventional loans and mortgages dry up owing to the credit squeeze on UK lenders. Financial Times
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Land Securities raise £200m
Land Securities has raised more than £200m in equity so far for its Trillium PPP Investment Partners and is 83% of the way to meeting an initial capital target of £1.136 billion with additional debt funding of about £600m. Sunday Times
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Property man in £20m movie venture
Property entrepreneur Robert Whitton is to invest £20m of his own money in a film production company with Lord Richard Attenborough and film producer Jo Gilbert. Sunday Telegraph.
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Capital & Regional NAV hit by clawback
Capital & Regional said that it estimates the net effect of fee clawback on full-year net asset value per share to be 30p to 50p a share. The co-investing property asset manager said Mall Fund’s underlying valuation was 7.9% down in the year to date, and Junction’s was down 13.6%. ...
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Home Information Packs become buyer's weapon
Home Information Packs have become the latest weapon of homebuyers seeking a cut in asking prices, with a survey reporting that nearly half of buyers are ready to use the packs’ energy reports to demand a discount. Sunday Times
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Summit Germany in £24m buy
Summit Germany is to buy four German properties for €34 million (£24m). The AIM-listed German commercial property investment company said that it is well financed going forward. Sunday Times
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Online
Go ahead for Stratford housing scheme
Unex Group has got the go ahead for a residential tower opposite Stratford bus station.
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OnlineTesco boss calls for green building boost
Tesco chief executive Sir Terry Leahy today called for lower business rates and a faster planning regime for `Green’ buildings.
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LandSecs completes first closing for £1bn Trillium fund
Land Securities has completed the first closing for its £1bn public private partnership fund
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OnlineCrown Estate’s Quadrant redevelopment plans approved
Westminster City Council has approved the Crown Estate’s plans for ‘The Quadrant’ redevelopment on Regent Street in London’s West End.
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OnlinePeterborough gets new shops
Hammerson and Morley, the joint owners of the Queensgate shopping centre in Peterborough have signed up three new retailers.
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Capita takes Manchester’s largest office letting of the year
Manchester city centre’s largest office letting this year completed this week.
