All Property Week articles in 26 March 2004 – Page 4
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Markets
Basing reviewed - Residential invasion
The idea of building straight office space in a dire market may bring a shudder to the council and developers, but there are concerns that if too much space is changed to residential, the result could be a shortfall in quality space when the market recovers. The Crown Heights scheme ...
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News
Government bans out-of-town mezzanine floors
The government has moved to all but ban mezzanine floors in out-of-town retail developments. The Office of the Deputy Prime Minister is to add new clauses to the Planning Bill to prevent retailers adding mezzanine floors without securing planning permission. Internal adjustments to buildings do not usually require planning permission ...
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News
CPO support for Bangor scheme
Northern Ireland development minister John Spellar has backed plans for a mixed-use scheme in Bangor, County Down by pledging his support for compulsory purchase orders to assemble the site . Private developer Karl Greenfarm proposes a £70m, 500,000 sq ft (46,451 sq m) retail-led seafront scheme with an anchor department ...
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News
Royal Mail to outsource portfolio in web auction
Cost-cutting postal group invites agents’ bids for management of 45m sq ft estate
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News
Ashtenne celebratesmost successful year
Industrial specialist announces 24% NAV rise in best year since flotation
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News
Allied London ties up Spinningfields deal
Allied London Properties has completed the protracted negotiations to let 280,000 sq ft (26,012sq m) at its Spinningfields scheme in Manchester to the Department of Constitutional Affairs (DCA). The DCA plans to establish a civil justice centre at the building, designed by Denton Corker Marshall. It has taken a 35-year ...
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News
OFT pins hopes on voluntary code to improve estate agency
Estate agents have escaped compulsory licensing after the Office of Fair Trading opted for a voluntary code of practice to improve standards in the industry. After an 18-month investigation into the 55,000 estate agents in the UK, the OFT said one in four customers had a ‘serious problem’ with their ...
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News
Brixton’s £69m share placing
Brixton has raised £68.5m of new equity from a very rare property company share placing while unveiling full-year results that surpassed those of its main rival Slough Estates . The placing of 24.4m shares at 281p each on Wednesday represented 10% of Brixton’s share capital and was the first ...
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News
Tesco/Topland £650m tie-up
Tesco this week completed its £650m property joint venture with Topland. The supermarket retailer is selling 33 stores and two distribution centres – 5% of its portfolio – into the joint venture. It will continue to operate the stores and the centres. The joint venture is for 25 years ...
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News
Cap & Reg unites funds to create £500m X-Leisure
Capital & Regional this week brought together its three former Marylebone Warwick Balfour leisure funds to form a single £500m X-Leisure fund. The three funds were bought from MWB in January 2003, when each fund had two to three years’ life remaining. The combined fund will have a ...
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News
Walsall’s £50m Saddlers Centre sale
Chester Properties has completed its purchase of the Saddlers Centre in Walsall for £50m. It has bought the 200,000 sq ft (18,580 sq m) centre from Catalyst Capital, Halifax Bank of Scotland and West Coast Capital. Jones Lang LaSalle advised Chester.
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News
DevSecs beats City forecasts with NAV rise of 5%
Development Securities has outperformed the City’s downbeat forecasts by achieving a 5% increase in net asset value in 2003. Run jointly by Michael Marx and Julian Barwick, the company had been expected to produce poor figures, reflecting the weak occupational markets in its core office development market. But it ...
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News
L&AP has 32% NAV increase
London & Associated Properties, the shopping centre investor, achieved a 32% rise in net asset value to 89p a share last year. The increase was driven by a 12% uplift in the value of its directly owned centres to £94m, and a 7.5% rise in the value of the ...
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News
British Land provides £125m for Canary bid
Support helps Morgan Stanley consortium raise offer to 292p a share
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News
Salmon sues Met for £1m over Bow Street
Developer issues writ after police's U-turn on Covent Garden scheme sale
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Online
Tower trio battle for Leeds city centre
Three developers have aimed high and unveiled their rival bids for a major regeneration of Leeds city centre.
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Online
Cap & Reg chief warns government off regulation
Martin Barber, chief executive of Capital & Regional, today urged the government not to stifle the promise of property investment funds with excessive regulation.
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