All Property Week articles in 17 July 2009 – Page 13
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Olympic fund agrees terms to restructure debt
AIM-listed Olympic property fund, O Twelve Estates, has agreed terms in principle with its lenders to restructure its £170m debt after breaching its loan-to-value covenant.
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Macdonald Estates and Asda press ahead in Dundee
Macdonald Estates and Asda are to lodge a planning application for a scheme in Dundee later this month.
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Bradford secures funding for city centre park
Funding for Bradford’s six acre city centre park, which will hold the largest water feature in any UK city, was secured this week.
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Astra Zeneca pulls out of Broadgate Tower deal for Paddington move
AstraZeneca has pulled out of plans to take more than 60,000 sq ft of office space at British Land’s Broadgate Tower in the City of London and is instead in talks to move to Paddington.
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OnlineMike Hussey becomes BCO president
Departing Land Securities’ London head Mike Hussey has taken over the role of president of The British Council for Offices (BCO) from Nicholas Ridley.
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Land Securities ready to buy again
Land Securities has completed more than £350m of sales in the second quarter and reduced its net debt by 5.5% as it prepares to take advantage of buying opportunities and restart its development pipeline in 2010.
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John Healey unveils timetable for major infrastructure project planning regime
Housing and planning minister John Healey has unveiled a detailed timetable for the implementation of the new planning regime for major infrastructure projects.
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Middle East shoppers will boost West End by £250m this summer
London’s West End is preparing for a‘gold rush’, with more than 140,000 visitors from the Middle East expected to spend an estimated £250m between July and September, according to the New West End company.
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Rich Russians snapp up US bargains
Russian millionaires are returning to the US property market, lured by distressed sales and the ruble’s rise against the dollar, lawyer Edward Mermelstein said.
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Manhattan office rents down 7.4%
Manhattan office rents fell by a record 7.4% in the second quarter as landlords adjusted to job losses and fallout from the shrinking financial services industry, property broker Cushman & Wakefield Inc said.
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Hamptons home sales dive
Home sales in the Hamptons, the oceanside summer getaway for Wall Street financiers and celebrities, plunged 58% in the second quarter as the recession sapped demand for second homes.
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UAE property prices on the rise
Property prices in parts of Abu Dhabi and Dubai are registering big increases as buyers regain their confidence, brokers said Tuesday.
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The World top see first resort
The Dubai developer Seven Tides plans to be the first company to start developing its holdings on the man-made archipelago near the Palm Jumeirah.
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Action group urges withholding of ACW payments
A group of investors locked in a dispute with developer ACW Holdings have urged its members to withhold further payments until installments are linked to construction.
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Tough China credit controls trigger market fears
The resumption of credit controls on home loans by Hangzhou banks has sent shockwaves through the mainland property market, igniting fears of a clampdown on the current recovery by the central government.
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Mortgage securities plan to switch risk to lender
Proposed guidelines aimed at restoring credibility to the market for mortgage securities would switch more of the risk to lenders that originate loans and investment firms that package them into securities.
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India's DLF to sell more to raise funds
Debt-ridden realty player DLF said today it will sell more land and wind power business this fiscal to raise Rs 1,900 crore and lowered the sales figure for flats.
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OnlineChris Bartram joins Land Securities board
Chris Bartram has been appointed to the Land Securities' board as a non-executive director.
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IPD index down for 24th month
The value of commercial property has fallen for 24 consecutive months, according to the Investment Property Databank. Values fell by 0.9% in June, taking total peak to trough falls to 44.1%. The IPD said that vacancy rates had risen, leading to a fall in landlords’ rental income.
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London maintains foreign investment levels
Foreign investment into London has remained at record levels in spite of the global economic crisis – much to the surprise of inward investment chiefs who had predicted a tough year.
