All Property Week articles in 27 August 1999 – Page 2
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News
Property shares fail to reflect general growth
Despite the good news on rental and capital growth emanating from the major indices, the property share sector had a dull week. The Richard Ellis St Quintin Monthly Index last week showed a 10-basis-point hardening in initial yields to 7.1% and annualised capital growth of 8.4%, while ...
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News
End of an era for H&B HQ
One of the oldest UK surveying firm head offices is about to be sold. Healey & Baker s base at 25-27 St George Street, London, is under offer to Belvedere Smith Portfolio, the joint venture between Portfolio Holdings and Julian Smith. The property company, which is backed by US ...
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News
EZ investment reaches eight-year high
Investment in unexpired Enterprise Zones has reached its highest level for eight years, according to Richard Ellis St Quintin s annual survey of the market. In 1998/9 transactions were up 20%, with more than 34 deals completed at a cost of £220m. Yields continued to harden ...
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News
Retail rents rocket as demand stays strong
Two shopping centre deals with a combined value of almost £50m have demonstrated the continued strength of demand from investors and tenants, with rents rising at their fastest since 1990. Ashcroft Estates, backed by the US fund PRICOA , is understood to be paying around £20m ...
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News
Corporation fears market oversupply
The Corporation of London has issued a warning that development plans in neighbouring boroughs could generate an oversupply of office space. In a letter to Property Week, Stuart Fraser, chairman of the Corporation's planning and transportation committee, said: 'There is a risk that increasing development in Tower Hamlets, Islington ...
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News
Developers say it's no fair cop
The developers shortlisted to build the new Criminal Records Bureau in Liverpool are losing their grip on development sites because of stalling by the Home Office. The department has delayed making a decision for two months while it reviews its IT provision, following the summer's Passport Agency fiasco. It ...
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News
IC comes to UK
German open-ended fund IC Invest has made its first acquisition in the UK with the purchase of a prime office development in Southampton. The fund paid Grosvenor Waterside, part of Associated British Ports, £8.6m for three office buildings at a net initial yield of 7.89%. The buildings ...
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News
Japanese renew investment in the City
In a rare example of Japanese investment in the property market since the crash of the early 1990s, a private buyer has exchanged on a City office scheme. The deal with Abbey Life on 1 Aldgate, EC3, was at £36m. But the Far Eastern investor s identity was kept ...
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News
Lonrho checks out of hotels
The last chunk of the late Tiny Rowland s hotel empire has been put on the market. The Lonrho Hotels Africa portfolio, which was spun out of the conglomerate two years ago, includes one of the most famous hotels in Africa, the Norfolk Hotel in Nairobi, Kenya. The ...
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News
Morrisons plans giant UK distribution centre
Northern supermarket group Morrisons plans to expand southwards by developing one of the largest distribution centres in the UK close to Bedford. The Bradford-based retailer has taken an option on Old Road Securities' 30ha (75 acre) Marsh Leys Farm site at Kempston, for a 93,000 sq m (1m sq ft) ...
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News
Lobbyists plan to rewrite rules on historic buildings
Lord Rogers has put his weight behind a high-profile campaign to rewrite the rules governing the redevelopment of historic buildings, using a scheme in the city as a test case. The demolition of 27 Finsbury Square, an unlisted building within an Islington conservation area, will be used by the ...
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News
Caborn brought in to heal departmental rift
Former DETR minister Richard Caborn has been parachuted into the DTI to improve frayed relations between the two departments. Westminster sources revealed this week that one of the minister of trade s new roles will be to implement policies on which the departments have historically ...
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News
UK debut for Brantano name
Brantano, the Belgian shoe retailer, last week launched itself in the UK by rebranding 53 former Shoe City stores. The Brantano name will now appear on those stores, bought from the former British Shoe Corporation last year. The retailer s unique selling proposition is that it displays both shoes ...
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News
US law firm is London bound
Altheimer & Gray, the Chicago-based law firm which lists Sam Zell and Prologis as clients, is due to open a London office this week. The firm has already succeeded in attracting several lawyers from other property practices, including Andrew Astachnowicz from Eversheds. Altheimer & Gray has been involved ...
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News
Bilton is flying free with Raven
Through the expansion of his company, Raven Group, Anton Bilton is managing to shake off the stigma of his family's stuffy image. Last week he bought out Pillar's £78m office portfolio.
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News
Big game hunt for Hemingway
PRICOA has won in its £119m bid for Hemingway Properties . The offer, which was announced on 29 July, was declared wholly unconditional on Tuesday, the first closing date, after acceptances for 78% of Hemingway s shares were received. PRICOA, through special vehicle First Sloane Street, is offering ...
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Professional
On your best behaviour
Civil claims Most property professionals have been involved in a civil claim at some point. This report looks at the impact of the new Civil Procedure Rules
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News
Coleman to chip away at the facade of development
One of the 'three Richards', Richard Coleman, is the strategist behind plans to transform London's skyline and reshape UK conservation areas. Formerly at the Royal Fine Art Commission, Coleman left after 13 years to establish his own urban design and conservation consultancy. Together with Lord Rogers and former RIBA president ...
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News
Aussie heavyweight flies into Warburgs
One of the key players in Australia's property capital markets, Warburg Dillon Read's head of corporate finance, Andrew Pridham, is moving to London to become the group's global head of real estate. Over the past decade, Pridham has built Warburg into the dominant property team in Australia. ...
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