All Property Week articles in 15 May 2009 – Page 2
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Capital raising set to trigger spree
More than £1bn will be raised in the property sector in the next few weeks as companies prepare to hunt for bargains in the battered commercial real estate market.
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Building societies accused fundamental errors
A senior manager at the Financial Services Authority has accused building societies of making fundamental errors during the credit crisis, saying they ignored repeated warnings over lending practices and inadequate risk management.
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Local Shopping Reit NAV down
Local Shopping Reit said its net asset value fell to £50.3m at the end of March, from £93.3m at the end of September. Rental income fell to £7.7m, from £16.7m, as it sold off assets and more of its tenants went bankrupt.
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Grainger posts loss
Grainger:, Britain’s largest listed residential landlord reported a first-half pre-tax loss of £143m, from a profit of £200,000 a year ago, and deferred its dividend after UK house prices fell to their lowest in five years.
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Shaftesbury set to raise £150m
Shaftesbury is to raise £150m through a fully underwritten rights issue in order to expand its property estate in London’s West End.
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M&B in cash call talks with banks
Mitchells & Butlers, the owner of pub chains such as All Bar One and Harvester, has been engaged in active discussions with its banks over a possible rights issue.
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Mortgage targets first timers
A mortgage that enables parents to help children to buy their first home but without drawing on their own savings has been launched by Lloyds Banking Group.
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Treasury braced for order to slim down Lloyds
Alistair Darling, chancellor, is braced for an order by the European Commission seeking the shrinking of Lloyds Banking Group as a condition for the granting of state aid.
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Newcastle business park signs 40,000 sq ft occupier
Customer care and HR company Convergys has signed up to pre-let a 40,201 sq ft building at Newcastle’s Quorum Business Park.
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MORNING AFTER: Bristol Fashion Week
The Mall at Cribbs Causeway hosted Bristol Fashion Week, to launch the centre's seasonal fashion collections.
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Modus’s Wigan Grand Arcade shopping centre in administration
The company set up to own Modus’s Wigan Grand Arcade shopping centre has been put into administration.
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FA Cup Final tickets for next table bought at Party near the Park
Welbeck Land's Alistair Watson has two FA Cup Final tickets for the next person or company to buy a table of 12 at Party near the Park
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Individual tickets on sale for Party near the Park
For the first year ever Party near the Park, the annual property bash for LandAid, will be selling individual tickets.
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Prupim appoints chief operating officer
Prupim has appointed Malcolm Smith, former managing director of Barclays Global Investors in Europe, as its chief operating officer.
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Maclay Murray & Spens and DTZ appointed to sell Edinburgh mill
The administrator of a residential developer in Scotland has appointed DTZ to advise on the disposal of the company’s main development site, Kinleith Mill in Currie, south west Edinburgh.
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Liverpool convention centre 'most desirable'
Liverpool’s £146m Arena and Convention Centre at King’s Dock has been named as one of the most 'desirable' locations to hold a conference by the industry 'bible'.
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Shaftesbury announces £149.1m rights issue
Shaftesbury is raising £149.1m from a rights issue to spend on bargains in London’s West End.
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Japanese economy shrinks at record rate
Japan's gross domestic product plunged at a record annual pace of 15.2% in the three months to March as exports collapsed and businesses cut production, the government said Wednesday.
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JD Sports buys French sports chain Chausport
Sports retailer JD Sports Fashion has acquired 100% of the entire issued share capital of French sporting goods chain Chausport for a total cash consideration of €8m.
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Spurt in Indian REITs may point to revival
The marked improvement in the performance, in recent months, of REITs, including those set up by Indian developers, is being seen as a pointer to an imminent revival in the property market.