All Property Week articles in 19 March 2004 – Page 4
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Professional
Landlords face Thurloe backlash
A landmark court decision could open the floodgates to tenants who have been refused permission to sublet.
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News
No SDLT transitional arrangements
The Treasury has refused to offer transitional arrangements for limited partnerships which become subject to Stamp Duty Land Tax later this year. The chancellor confirmed in the Budget statement that transfers of property into, out of or within limited partnerships will be subject to the full rate of Stamp Duty, ...
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News
PRICOA Property arm in buyout talks
Parent Prudential Financial agrees to investment management MBO
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News
Tchenguiz reaches Consensus on America Square
Vincent Tchenguiz’s new company Consensus is to buy 1 America Square, London EC3, from Fordgate for £110m. In an off-market deal, the 210,000 sq ft (19,510 sq m) building is being bought by Tchenguiz only a year after the Gertner brothers’ Fordgate, backed by GMAC, bought it from Japanese investor ...
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Markets
Testing the Alliance
First it lost an investment partner, then it lost an anchor tenant. Now the Bristol Alliance faces a CPO battle over a key site.
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News
SRA issues guidelines to aid rail freight
The Strategic Rail Authority (SRA) has issued guidelines to help developers revive rail freight development. The SRA has struggled to deliver a significant increase in rail’s share of the freight market and improve the rail distribution network, largely because of planning difficulties. This week the SRA has produced a strategy ...
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News
Two more London deals ahead
The central London office market is set for two more huge deals as the occupational market bursts back to life. Hammerson , Greycoat and Henderson 's Moorhouse scheme in EC2, has emerged as favourite to land German bank HVB's 150,000 sq ft (14,000 sq m) requirement. Drivers Jonas ...
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News
London Bridge hotel agents picked
Sellar Property Group has appointed Christie & Co as hotel agent on its London Bridge Tower. The firm will seek an international operator for the scheme’s 200-bedroom hotel.
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Markets
Finally afloat
Crest Nicholson has won the battle to launch its twice-rejected Harbourside scheme after making revisions.
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News
£8.8m Scottish addition for Highcross
Highcross has bought six multilet industrial estates in Scotland from a private investor for £8.8m for its £350m private equity fund. The estates in Glasgow, Motherwell, Newhouse, Airdrie, and Bathgate total 325,000 sq ft (30,193 sq m). The net initial yield is 9.3%. Ryden acted for Highcross, GVA ...
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News
£53m Glasgow park sale
The Junction limited partnership has bought Great Western retail park in Drumchapel, Glasgow, from Pillar ’s Hercules Unit Trust for £53m. Great Western is a 178,500 sq ft (16,583 sq m) park next to a Sainsbury’s seven miles to the north-west of the city centre. Tenants include B&Q and ...
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News
British Land and LandSecs in £500m Scottish venture
Two of the prime REIT candidates, British Land and Land Securities , have set up a £500m Scottish retail joint venture to pool their shopping centre assets in Aberdeen and East Kilbride. The 50:50 partnership will initially own 1.4m sq ft (130,000 sq m) of retail space, producing ...
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News
Duty revenue to rise by 25%
Stamp Duty revenue is to increase by 25% this year, despite the decision to freeze the rates at which it is paid. Treasury predictions reveal that Stamp Duty is forecast to bring in £9.4bn this year, up from £7.5bn last year. KPMG estimates that £6m will come from property transactions, ...
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News
WC2 deal for GE Capital
GE Capital has taken 16,000 sq ft (1,486 sq m) from Vodafone at 80 Strand, London WC2. It is paying £43.50/sq ft (£468.23/sq m). DTZ acted for Vodafone; Godfrey Vaughan advised GE.
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News
27,000 civil servants to move out of south-east
A total of 27,150 civil servant posts will be moved out of London by 2010 under Sir Michael Lyons’ review of public sector relocation, vacating up to 3.5m sq ft (325,000 sq m) of office space and saving the government £2bn. In his final report published this week, Lyons said ...
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Online
British Land and LandSecs set up £500m Scottish venture
British Land and Land Securities have set up a £500m Scottish retail joint venture to pool their shopping centre assets in Aberdeen and East Kilbride.
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Online
Willis joins DevSecs board
Former Knight Frank partner Paul Willis has been appointed to the board of executive directors at Development Securities.
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Online
Chancellor launches REIT consultation
Chancellor Gordon Brown launched public consultation in his midday Budget on the proposals to introduce a REIT-style tax transparent property investment vehicle.
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Online
Brixton’s £211m industrial spree
Brixton today revealed it has splashed out £211m in three industrial property deals.
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