All Property Week articles in 16 November 2007 – Page 9
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Go-ahead for giant biomedical campus
A 2.3m sq ft biomedical campus in Cambridge that will house a major research laboratory for the Medical Research Council was given the go-ahead this week.
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October IPD figures second lowest ever
All-property returns in October were the second lowest ever, according to the latest Investment Property Databank Monthly Index.
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New hotel for Aberdeen airport
The Airport Property Partnership (APP), a joint venture between Morley Fund Management and the British Airports Authority, has announced a new hotel to be built at Aberdeen Airport.
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Early Christmas gift for rust-belt town
Christmas has come unexpectedly early in the form of a gift of $100 million (£48 million) from a mysterious donor for Erie, Pennsylvania. The Times
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Builders steer clear of Olympic race
Building contractors are refusing to put in bids for venues at the Olympic Park because the projects carry too much risk and too little profit. The Times.
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Break for LandSec set to be confirmed
Land Securities, the UK’s biggest property company, will today confirm plans to break its business into three despite rumours of disagreement among board members. Daily Telegraph
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Five year low for new mortgages
New mortgage last month fell to its lowest level for at least five years, further fuelling fears of a housing market slowdown. Daily Telegraph
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Subsidy shift aids landowners
Landowners have benefited from a 'tenfold' shift of agriculture subsidies away from real farmers, European Union auditors have warned. Daily Telegraph
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Poor Asda shrugged off by Wal-Mart
Lower profits from the Asda supermarket chain failed to drag down its US parent company Wal-Mart, which today reported better than expected third quarter income.
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EasyGroup offers weekly rent at EasyOffice
EasyGroup is challenging the UK’s commercial landlords by renting out office premises by the week, paid for up-front. Financial Times, The Independent
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GPE sees growth with loss of 'easy money'
The property industry has been caught in 'a hell of a headwind' amid the most negative sentiment for years, according to Toby Courtauld, chief executive of Great Portland Estates. Financial Times, Daily Telegraph
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Sainsbury set to rebuff break-up call
J Sainsbury is expected to reject calls to split itself into an operating company and a property group amid fears that the store portfolio has slumped in value by up to 15%. Financial Times
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Inflation target breach raises interest rate fears
A sharp rise in petrol and food prices drove inflation back above the Bank of England’s target in October, confirming the power of commodities to complicate the economic outlook and muddy the waters on interest rates. Financial Times, The Guardian, Daily Telegraph
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Rock rescue could cost taxpayers £2bn
Potential bidders for Northern Rock are pressing the government to waive a £2bn interest bill on the stricken bank's outstanding £20bn loan. The Guardian
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Rock debts 'to last years' as LSE warns on share deals
Northern Rock could still owe the Bank of England billions of pounds in three years’ time, according to a confidential sales memo. Financial Times, Daily Telegraph The Times
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Global property markets in for ‘tough ride’
One of the most aggressive Australian investors, Macquarie, says global real estate markets are in for a ‘tougher ride’ with marked regional variances sparked by the US economic slowdown and financial volatility.
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Segro sells power plant interests in Slough Trading Estate
Segro has sold its interests in the Slough Heat & Power power generation operation to Scottish and Southern Energy - one of the largest energy companies in the UK – for £49.2m.
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LandSecs reveals Sainsbury’s JV
Land Securities today revealed a joint venture with Sainsbury’s to expand current sites and develop new stores worth an initial £113m.
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OnlineBritain’s biggest property company in three-way split
Land Securities, Britain’s biggest property company, this morning revealed that it will split into three separate companies.
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Great Portland results go down a storm
Great Portland Estates provided some much-needed cheer to the listed property sector today when it revealed that its London West End-dominated portfolio is weathering the storm.
