All Property Week articles in 27 April 2007 – Page 9
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Growth spurt spurs rate rise
The likelihood of the Bank of England imposing two more interest rate increases by the summer grew after data showing stronger than expected GDP growth in the first quarter. The Times
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Punch has £1bn of hidden property value
Punch Taverns, which has been the subject of private equity takeover talk, saw its shares soar yesterday after Numis Securities said the pubs group could unlock £1bn of hidden value in its managed estate — equating to nearly a third of its present valuation. The Times
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Out of Town goes under
Out of Town Group, the shopping centre restaurant operator, has gone into administration. The Times
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Grainger fundraising
Grainger Trust, Britain’s largest quoted owner of residential property, plans to raise £112m through the issue of a convertible bond at a conversion price of 864p, 35% above the reference price. The Times
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M&S reshuffle signals global ambitions
Stuart Rose, chief executive of Marks & Spencer, has reshuffled his top team, sparking speculation that he is grooming a successor and signalling his global ambitions. Daily Telegraph.
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Tchenguiz welcomes Qatari group to Sainsbury's
Qatar-backed property investment group Three Delta yesterday paid £1.4bn to become the biggest shareholder in Sainsbury's, adding to speculation that the board would sell property to mollify activist investors. Daily Telegraph. Financial Times
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Peers shoot at HIPs
Pressure mounted on the government yesterday to delay next month’s introduction of home information packs. Financial Times
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UK property derivatives take off
The UK’s property derivatives market saw £2.9bn of deals in the first three months of the year, taking the running total to £7.6bn. Financial Times
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Tesco aims for 100 small US stores
Tim Mason, head of Tesco’s US operations, said yesterday that the UK retailer aimed to have 100 of its small Fresh & Easy Neighborhood Market stores open by February next year in Arizona, Nevada and southern California. Financial Times
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£509m upgrade on track for Victoria Tube station
Victoria underground station is to undergo a £509m upgrade and redevelopment, the mayor of London has announced
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Stelios moves towards Easy offices
Entrepreneur and Easy Group founder Stelios Haji-Ioannou is to extend his Easy brand into the serviced office sector.
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ODA hits back at Olympic Park rumours
The Olympic Delivery Authority has hit back at claims that open space in the Olympic Park area has been reduced.
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East London square gets £250m price tag
Axa Real Estate and GIC, the investment arm of the Singaporean government, are to bring Thomas Moore Square in East London to the market next month with a price tag of around £250m.
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OnlineSellar's £600m Pompey spectacular
Portsmouth Football Club and Sellar Property Group have today unveiled plans for the £600m Waterfront Quarter in Portsmouth.
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First UK hotel REIT announced
The first hotel REIT in the UK is to list today with a portfolio of £2.6bn.
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Westminster confirms MacQueen appointment
Westminster City Council today confirmed that Rosemarie MacQueen will be its new director of planning and city development.
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Rothschild dons Mitre
Alliance & Leicester and investment bank Rothschild have joined forces with Lanebridge Investment Management to form a commercial property finance business called Mitre Capital Partners.The Times
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Primark to expand in UK and Spain
Associated British Foods, owner of Primark, plans 'significant expansion' of the value fashion business. The Times
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Admiral Taverns owners buy Jurys Cardiff
Jurys Cardiff Hotel has been sold to Mountain Capital, the property investment group controlled by the families that own Admiral Taverns, for an estimated £16m. The Times
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David Lloyd sale to result in investor payback
Leisure group Whitbread has said a sale of David Lloyd Leisure - for which it is thought to have received three bids of more than £900m - could result in a further cash return to investors. Financial Times
