All Property Week articles in 16 April 2010 – Page 3
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The Charities Property Fund buys Tesco in Mansfield
Cordea Savills, on behalf of the Charities Property Fund, has bought a Tesco Extra supermarket in Mansfield, Nottinghamshire for £43m. The property is let to Tesco on a 20-year lease.
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Tesco agrees shopping centre deal in Peterborough
Howard Group has agreed a deal with Tesco at Werrington Shopping Centre in north Peterborough.
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Invista sells Belgian office and completes French lettings
Invista European Real Estate Trust has sold its interest in a Belgian office asset for €7.7m and completed more than 250,000 sq ft of lettings in France.
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Aurora Property Group secures Bangor prelet
Aurora Property Group has secured a prelet to Eurocell at the Gateway Park in Bangor, North Wales.
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Irish Nationwide losses reach €2.5bn
Irish Nationwide, the Irish building society that emerged during the property boom as a major backer of Ireland’s big developers, has reported a loss for last year of €2.5bn ($3.4bn).
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Tesco profits boosted by expansion in banking, resilient UK and Asian deals
Tesco, one of the world's largest retailers, met forecasts with an 8.7pc rise in annual profit, with acquisitions in Asia and financial services adding to a resilient performance in its main British market.
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Taylor Wimpey chief Pete Redfern's pay near doubles to £1.7m
The boss of Taylor Wimpey saw his pay package near double last year despite the housebuilder reporting a £640m loss, enduring a 27% drop in revenue, and having to call on shareholders for £510m in an emergency rights issue.
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Kirkby to demolish baths for town centre scheme
Knowsley council today announced plans to demolish Kirkby’s former swimming baths and clear the way for a new retail scheme.
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MORNING AFTER: Ronson tops out the Heron Tower
Gerald Ronson invited memebers of the property world to enjoy the view from the top of what will be the City of London’s tallest building, the Heron Tower, at its topping out ceremony earlier this month.
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Denham intervenes in “disastrous” Doncaster council
Communities secretary John Denham has intervened in the running of Doncaster Council, following a damning audit published today
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AEW and Mountgrange raise £20m from asset sales
A joint venture vehicle managed by AEW Europe/Tristan Capital Partners and Mountgrange Investment Management has sold two assets for a total of £20.3m.
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Norway sovereign wealth fund to announce new real estate head
Norway’s sovereign wealth fund is to announce a new head of real estate within weeks.
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China launches 'draconian' measures to dampen property
China told banks to stop loans for third-home purchases as the government steps up measures to cool property prices with some of the “most draconian” orders yet. Shares of developers and banks tumbled.
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Glorious rise for China developer
Property developer Glorious Property Holdings reported a sharp rise in its revenue and gross profit for last year, driven by strong demand for luxury residential projects in first- and second-tier cities on the mainland.
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Abu Dhabi to get proper address system
Officials have revealed that all streets and buildings in Abu Dhabi are to get a proper name and number in a bid to make the UAE capital easier to navigate around.
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US mortgage areas down again
In an encouraging sign for the US housing market, mortgage delinquencies fell in March for the second month in a row, according to new data.
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UAE 'must focus on consumer demand'
Developers in the UAE are being warned to pay closer attention to consumer demand if they hope to sell or rent off the space in the multitude of new projects coming online in the country, senior industry observers say.
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Mubadala Development downsizes Abu Dhabi scheme
Mubadala Development, the strategic investment arm of the Abu Dhabi Government, has downsized its Mina Zayed project in a new design that focuses on creating a more “liveable” waterfront community, executives say.
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Arabtec to get 40% of Nakheel payments this month
Arabtec Construction, a unit of Arabtec Holding, will receive 40% of the total outstanding payments from Nakheel by the end of April, Emirates Business 24/7 reported, citing the chief executive officer of the unit.
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Eurohypo finances Aerium’s Manchester purchase
German bank Eurohypo has provided £122.75m of debt to finance Aerium’s purchase of Allied London’s 3 Hardman Street office scheme in Spinningfields, Manchester.