All Property Week articles in 27 February 2009 – Page 2
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Stansted planning inquiry put on hold
The planning inquiry into the building of a second runway and terminal at London Stansted by BAA has been postponed by ministers because of the uncertainty over the future ownership of the airport.
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Taxpayers pay for PFI rescue
The taxpayer is to lend large sums – potentially billions of pounds – to private finance initiative projects in an attempt to rescue a clutch of deals that risk collapsing for lack of bank lending.
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M&S must change, says analyst
Marks & Spencer must change its strategy in a 'fundamental way', close its Simply Food stores and launch a new chain to attract young shoppers if it is to thrive.
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Mortgage approvals down
The number of mortgages approved for house purchases remained steady at 31,000 in January, but this was 55% lower than in January last year, official figures show. Total net mortgage lending rose by £690m during the month, less than half the rise analysts had expected and much lower than December’s ...
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Tesco creates banking jobs in Edinburgh
Edinburgh’s beleaguered banking sector was boosted yesterday when Tesco’s finance arm said it would create more than 200 new jobs in the Scottish capital.
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Wolseley set to launch £1bn rights issue
Wolseley is planning to launch a long-awaited £1bn rights issue as soon as the end of the week in an attempt by the company to dig its way out from under its £3bn debt pile.
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Matterhorn Capital pays £92.5m for O2 Centre
X-Leisure Fund has today agreed the sale of the O2 Centre in London’s Finchley Road for £92.5m.
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Essay Competition: Runners-Up
In December we asked readers where property is heading. Click on the attached essays to read the entries by the runners-up.
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Deloitte appointed administrator of Mosaic Fashions as management agree pre-pack deal
Mosaic Fashions Limited, Mosaic Fashions Finance Limited and its brands Warehouse, Oasis, Coast, Karen Millen, Anoushka G, Principles and The Shoe Studio Group have all been placed in administration.
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Segro confirms possible equity raising
Segro this morning confirmed that it was considering raising new equity, having renegotiated loan covenants last week. The news sent its shares down 16% to below 90p this morning.
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Castlemore Securities’ subsidiaries follow parent into administration
Sixteen companies linked to Grahame Whateley’s Castlemore Securities have been, or are about to be, placed in administration following the collapse of the parent company last week.
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P&O submits plans for new Thames Valley offices
P&O Estates has submitted a planning application for the latest phase of its Opus Business Park on the Causeway in Staines.
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HSS Hire picks Savills for property advice
Tool and equipment hire company HSS Hire has appointed Savills to advise on its entire UK and Ireland property portfolio.
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Terrace hill gets green light for Gateshead design hub
Terrace Hill has been granted planning permission for its Design Centre for the north at the Baltic Business Quarter in Gateshead.
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Climate Change Capital buys first building
Climate Change Capital has completed its first deal, buying 5 St Philip’s Place in Birmingham city centre.
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Zara takes store at Hammerson’s Aberdeen shopping centre
Fashion chain Zara has agreed to open a new store at Hammerson’s Union Square development in Aberdeen.
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Sirius secures €45m debt facility to buy German properties
Sirius has secured €45m of debt from BerlinHyp, which is owned by Landesbank Berlin, to buy large mixed-use commercial sites in Germany for redevelopment.
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Irish total returns fall by 37% in 2008 says CBRE
Ireland’s commercial property was hit by a more than 37% decline in total returns in 2008 as it continues to be ‘severely impacted’ by the lack of bank funding, according to CB Richard Ellis.
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UK Coal plans coastal village regeneration
UK Coal will this week submit two planning applications for a major regeneration scheme at two coastal villages in the north-east.
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Dukelease to develop three Mill Hill schemes
Developer Dukelease has been granted planning consent for three schemes in Mill Hill by the London Borough of Barnet.