All Property Week articles in 14 October 2016 – Page 2
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Online
Commercial property 10% of UK’s net wealth
The value of the UK’s commercial property stock reached an all-time high of £871bn in 2015, representing 10% of the UK’s net wealth, a new report from the Property Industry Alliance (PIA) reveals today.
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Greystar and Macquarie form Asia-Pacific BTR alliance
Global finance giants Greystar Real Estate Partners and Macquarie Capital have joined forces for a build-to-rent push in the Asia-Pacific region.
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Online
U+I hit by Brexit concerns, but confident of further progress
U+I, the property development and investment group, has reported its investment portfolio performance has been hit by uncertainty around Brexit as capital values in its portfolio fell 5.2% during the first half of its financial year.
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FTSE 100 edges back over 7000
The FTSE 100 closed above the 7000 point mark on Tuesday, boosted by a rally in mining and property stocks.
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Institutions increase real estate allocations to nearly 10%
Institutional investors around the globe have increased their real estate allocations to almost 10% despite concerns about slowing returns and diminishing opportunities, a survey has found.
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Online
SCS grows to 100 stores with triple opening
Furniture retailer ScS has announced it will be opening three new stores on Boxing Day, taking the brand to a total of 100 retail units across the UK.
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LJMU signs for Exchange Station in largest Liverpool deal since 2014
Commercial Estates Group and Anglo Scandinavian Estates have signed up Liverpool John Moores University to take 58,000 sq ft at their Exchange Station office scheme, in the city’s largest deal since 2014.
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Welsh government to continue 3% stamp duty surcharge
The Welsh government will continue with proposals for a 3% stamp duty surcharge on additional homes following a consultation period, finance secretary Mark Drakeford has confirmed.
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Online
Aviva to forward fund £87m spec office building in Cambridge
Aviva Investors will pump £87m of forward funding into a new 163,000 sq ft office building in Cambridge, it has announced.
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Online
Westbrook agrees £85m reduced Project Rio package
Private equity firm Westbrook Partners has agreed a deal with BlackRock to buy a slimmed down version of the £190m Project Rio portfolio after the original sale fell through.
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New £25m fund for Basingstoke development
Basingstoke and Deane Borough Council has launched a £25m fund to provide debt or equity finance for local development.
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UK property values drop for third consecutive month
UK commercial property values dropped in September, but at a slower pace than in July and August, suggesting concerns about the impact of Breixt are easing.
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Bellway sells record number of homes
FTSE 250 housebuilder Bellway has reported a 40.6% rise in full-year profit as it sold 12.5% more homes in the year to 31 July, compared to last year.
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Cardiff's Queen's Arcade Shopping Centre put on the market for £33m
Addington Capital and Tristan Capital Partners have put Queen’s Arcade Shopping Centre in Cardiff on the market for £33m.
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Strong results help Lok’n Store shares defy gloom
Lok’n Store shares defined stock market gloom on Tuesday with the shares climbing 2.3% following strong full year results.
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Blackstone signs up QA at St Katherine Docks
Blackstone has secured a new 10-year lease of 16,000 sq ft to QA Limited at International House, the 215,000 sq ft office building at the heart of St Katharine Docks in central London.
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Insight
From care homes to aspirational lifestyle: is retirement living coming of age?
With equity-rich, cash-poor baby boomers entering retirement age, they are increasingly looking to move into housing that is better suited to their changing lifestyles. However, in reality, few are doing so.
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Online
DTZ Investors sells Mayfair office to private overseas investor
DTZ Investors has sold the £80m freehold interest of Nightingale House in Mayfair to a private overseas investor.
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Sovereign Centros signs Next and New Look to Durham retail park
Sovereign Centros has agreed deals with Next and New Look at Arnison Retail Park in Durham on behalf of CBRE Global Investors.
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London office leasing up 21% in Q3
Take-up of London office space increased by 21% in the third quarter of this year – compared to a 22% decline in the previous quarter – according to CBRE.