All Property Week articles in 16 April 1999 – Page 2
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News
Drop in yields offsets Stamp Duty increase
Evidence that property yields are at last beginning to fall was provided this week by the latest Richard Ellis St Quintin Monthly Index. Both the all-property equivalent and initial yields fell by 0.1% in March to 7.2% and 7.3% respectively. The drop in yields more than offset the impact of ...
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News
Rate cuts prompt share rises
Property shares joined in the general rise in share prices last week, driven by the twin interest rate cuts in the UK and the euro-zone. The Real Estate Index rose by 2.3% to 1935, in line with the increase in the All-Share to 2969. The most significant movers were British ...
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News
Lawyers criticise new procedures for leases
The Lord Chancellor s department has botched the implementation of landlord and tenant reforms by making it harder to sign short leases, claimed property lawyers this week. The new procedures, which come into force on 26 April, complicate the exclusion of security of tenure agreements when leases are signed. Exclusions, ...
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Markets
Crawley
The start of this year has seen a more subdued industrial market following a most exciting 1998, which saw considerable development activity and take-up of space. The manufacturing sector in Crawley, as in the rest of the country, is taking a cautious approach based on the high value of the ...
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Markets
Crest unveils its plans for Crawley
Crest Nicholson Properties has submitted an application for 5,110 sq m (55,000 sq ft) of retail on the corner of Queens Square and Broadway, Crawley. The £12.5m scheme is expected to improve the retail offer of what was the town s prime pitch before the opening of Friends Provident ...
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Insight
Child's play
The Government's pledge to provide 190,000 nursery spaces by 2002 could lead to 'explosive' growth in childcare. Jigsaw's Mike Hirsch tells us how property investors are keen for a piece of the action
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News
Chesterfield mulls takeover proposal
Chesterfield Properties shareholders last Friday voted for a second adjournment of an extraordinary general meeting to consider the proposed sale of a £93.5m portfolio to GE Capital. The EGM, which was previously adjourned from 22 March, is now set for 29 April. The delay allows the company further time ...
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News
Chainstores ill-prepared for internet revolution
Half of all retail sales will take place on the internet in 10 years time, says a report published last week even though, to date, only 28% of UK multiple retailers offer an internet shopping facility. Active Centre Management Associates looked at the websites of 138 national ...
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News
Shopping centres suffer decline in investment
Shopping Centre investment dropped by more than 26% in the last quarter, according to the latest figures from DTZ Debenham Thorpe. A total of £718.9m was transacted during the first quarter of 1999, compared with £970m in the fourth quarter of 1998. The two largest single transactions the sale ...
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News
Disney calls the toon on Welsh theme park
Legend Court has formed a joint venture company with Group One of Florida, the developer of Disney World, to develop its 2m sq ft theme park in South Wales. The joint venture company, Legend Court Operations Limited, will jointly finance the park and Group One will develop and operate ...
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News
Town-centre solidarity over business rate cuts
Town-centre retailers in York are calling for cuts in business rates because their trade is being hit by rival shopping centres. York retailers have banded together to lodge a rating appeal after witnessing a downturn in trade since the autumn openings of a BAA McArthurGlen s Designer Outlet and ...
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News
Texaco brings bumper Docklands lot to market
Canary Wharf will get its first stab at buying in parts of its estate when Texaco brings its Docklands head office to the market later this month. The oil company is understood to have shortlisted four agents to sell the 22,410 sq m (241,234 sq ft) office on a ...
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Markets
Brighton offices
Sold out! This is the message coming from the Sussex coast office market. The snowballing recovery of this market, centred on the Brighton & Hove conurbation, is creating a shortage of new space. There has been a substantial take-up of office accommodation in the greater Brighton area over the past ...
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Markets
Brighton & Hove retail
Speculation over the future of Town Centre retailing in Brighton has now been resolved, with all locations establishing their market level. Prime shopping has been centralised and condensed into one retail centre. Churchill Square, which opened last September after a massive £90m spend by Standard Life , is believed ...
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Markets
Boot finds south-eastern foothold on Safeway site
Henry Boot Developments has paid Safeway around £1m for a 3.6ha (9 acre) retail and business development at Hailsham, East Sussex, following the supermarket s failure to secure planning permission for food retail. Contracts have been exchanged with Great Mills DIY at a rent just under £107/sq m (£10/sq ft) ...
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Markets
Brighton block
Sainsbury s has stumbled into a minefield in Brighton, where the council has rejected plans for a town-centre supermarket. But, developers in Hove seem to be enjoying better fortune
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News
Cash-rich BL plans spree
Speculation Is rife on potential targets for British Land after the company announced this week it was raising £1.54m from the securitisation of Broadgate. Part of the money will be used to refinance existing debt, but most will be available for acquisitions. Possible corporate targets include the usual suspects: ...
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News
New homes in Birmingham
Central Birmingham can expect to see up to 8,000 new homes in the next eight years, according to research from DTZ Debenham Thorpe. Adrian Willet, of DTZ s Birmingham office, pointed out last week that 450 new city-centre homes had already been completed and sold. The average price of ...
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News
Culture clash dooms Insignia merger bid
Insignia s bid to buy the Canadian operation of Colliers International, Colliers Macaulay Nicolls, has collapsed after more than six months of discussions. Directors at Colliers Macaulay Nicolls finally spurned Insignia s offer earlier this month. A well-placed source at Colliers said the deal fell through because certain directors were ...
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News
Now Brixton exits Belgium
Brixton Estate continued its exit from overseas markets this week with the sale of its Belgian property subsidiaries to Leasinvest for BFr2.47bn (£41.2m). The sales at an exit yield of 7.4% was at a 7% higher figure than the 1998 year-end valuation. The two Belgian companies generated pre-tax profits ...
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