All Property Week articles in 17 September 1999 – Page 2
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News
NAV growth for embattled CNC
CNC Properties, whose future was secured for a few more weeks following the collapse last week of a takeover bid, has reported a 12% increase in net asset value in the first half of the year. The NAV rise to 132p a share reflected a revaluation of the portfolio ...
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News
Development masterplan set to end City stagnation
Masterplans are quietly being drawn up on a huge raft of land in the City for the first time since the aftermath of the Second World War. Separate plans are being devised by Jones Lang Lasalle and the Corporation of London which could lead to dramatically improved ...
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News
Space mission for City pair
Two large financial occupiers have earmarked almost a quarter of a million square feet of office space in the Square Mile. Commerzbank, Germany s fourth-largest commercial bank, is almost doubling its City office requirement and South African investment bank Old Mutual has whittled its building shortlist down to ...
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Insight
Bright future
After four months as MEPC chief executive and with results looming at the end of the month, Jamie Dundas is confident that his leadership of the company will meet the City's high expectations.
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News
Mucklow makes brass as Midlands prospers
Midlands industrial specialist A&J Mucklow has seen its third year of 8% capital growth in its portfolio, helping it achieve an impressive 18% increase in net asset value to 246p in the year to 30 June. The announcement on Monday sent Mucklow's shares up 10p to 190p, ...
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News
RICS boss hits out at DETR
RICS President Simon Kolesar has urged the government to speed up action to encourage good urban design. In an open letter to planning minister Nick Raynsford, published in today's Property Week, Kolesar, writing in his capacity as chair of the Urban Design Alliance, said: 'Putting off action... would seriously ...
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News
BR board site sales on track
British Rail Board has been given the signal to sell off its remaining 1,400 sites after more than a year s delay. The government stalled the sales after publication of the Transport White Paper. It wanted to ensure that the sites were not needed for integrated transport development. The sites ...
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Markets
Retail Surviving the Bluewater effect
Large shopping centre schemes dominate Kent's retail scene.
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Professional
The lease has ended; the litigation has just begun - Landlord
Landlord Ensuring the property is returned in a good, lettable condition is a landlord's main concern
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Professional
The lease has ended; the litigation has just begun - Tenant
Tenant Not only can there be uncertainty over when a lease actually ends, but the tenant can face heavy penalties if it fails to leave the premises on time
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News
CLS jumps on revaluation bandwagon
CLS Holdings has joined the growing band of property companies to commission an interim revaluation of its portfolio and with good reason. In the first half of the year, net asset value rose by a stunning 18% to 217p a share, thanks mainly to a 112,900 sq ...
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News
P&O sell-off is well ahead
Shipping, construction, property and services company P&O said on Tuesday that its disposal programme was well ahead of schedule. Chairman Lord Sterling of Plaistow said the strategy to dispose of its non-shipping interests would soon lead to the flotation of its Bovis Construction arm and the sale of its ...
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News
Children ban binned at Halifax scheme after media ruckus
Century Homes has quietly dropped the 'no children' policy at its new development near Halifax , following a blaze of publicity about the proposal. Meanwhile, Devington Homes has also faced a dilemma over children. It has refused to spend £70,000 on new classrooms close to its Exminster development, because ...
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News
£92m development gains boost Freeport
The Freeport Leisure success story continued this week when the factory outlet specialist announced that its net asset value had risen a massive 84% in 15 months. The NAV jump from 301p in June 1998 to the current 555p largely reflects a £92m revaluation surplus, or 228p a share, ...
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News
Workspace seals ‘spectacular’ Sainsbury’s deal
Workspace Group, the provider of flexible space to small businesses, has broken with tradition by pulling off a spectacular deal with supermarket giant Sainsbury s in south east London. Sainsbury s has agreed to pre-lease 1 Union Street on a 15-year lease, with a five-year break option, at £2m ...
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News
Consultancy’s new ‘Mr Fixit’
Simon Sokel, the former head of agency at Catella and Grant & Partners, has linked up with planning expert David Shaw to set up a strategic consultancy firm. Based in Pollen Street, Mayfair, Sokel Shaw Consulting is especially aiming services at non-property organisations. It will play a strategic role ...
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News
£6m NHS site purchase hinges on social housing
Wilcon Homes has paid East Hertfordshire NHS Trust more than £6m for the former hospital site at Upney Lane, Barking. Barking District Council demanded a contribution to the school building programme and also that 15% of the development on the 4.24ha (10.5 acre) site should be for social housing. The ...
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News
Chester ups buying power with £50m venture
Chester Properties has set up a £50m fund to boost its buying power. It has teamed up with four of its shareholders to set up Chester Properties Ventures. The geared fund will target lot sizes of between £10m and £25m. Chester completed its first deal this week with the acquisition ...
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News
Doughty raises £344m for assault on Europe
Doughty Hanson has raised US$550m (£344m) to gain a foothold in the ultra-competitive European property market. The private UK equity fund manager will target properties, portfolios and operating companies primarily in Germany, Italy, Scandinavia and central Europe. The company expects to raise a further US$150m (£94m) equity and gear ...
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News
£18.4m deal ends Blossom’s Inn saga
The last link in a chain of more than 28 deals was made this week which unleashes Land Securities largest speculative development in the City this decade. Helical Bar has sold its 10 Mansion House Place scheme to owner-occupier British Arab Commercial Bank for £18.4m, ...
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