All Property Week articles in 27 January 2023 – Page 3
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NAV falls 12% at Picton as yields move out
Picton’s net asset value (NAV) fell 12% in the final quarter of 2022 as the group suffered from industry-wide yield movements and a worsening economy.
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Harworth takes valuation hit but housebuilder demand remains robust
Harworth Group has said yield movements and “softening macroeconomic conditions” hit valuations in 2022 in an end-of-year update.
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LSH makes four hires in Belfast
Lambert Smith Hampton (LSH) has made four appointments to its team in Belfast, including two directors.
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Knight Frank boosts healthcare team with seven hires
Knight Frank has added seven new recruits to its healthcare team and part of an expansion of the firm’s advisory services in the sector.
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House demand set to pick up amid slow start to 2023
Demand for homes has rebounded in the first few weeks of 2023, but remains well below January 2020-2022 levels, according to Zoopla’s house price index.
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Value of planned public sector construction in Scotland increases to £12.2bn
The value of planned Scottish public sector construction projects has increased by £600m over the past six months to £12.2bn, according to a report from the Construction Pipeline Forecast Tool (CPFT).
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Government gives developers six weeks to sign up to housing safety contract
The government has given developers six weeks to sign up to legally binding agreements to pay to replace unsafe cladding on buildings.
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LEOS launches £200m SME developer fund
LEOS International has launched the £200m Vision Fund to offer funding to SME developers, builders and landowners across the UK.
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Shaftesbury enjoys strong festive period as it awaits CMA decision on Capco merger
Shaftesbury has told investors it enjoyed “buoyant trading” during the festive period ahead of its proposed merger with Capital & Counties (Capco).
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Boreal IM secures £208m Pbb facility to refinance seven assets
Investment manager Boreal IM has secured a combined €237m (£208m) loan from specialist lender Deutsche Pfandbriefbank (Pbb) to refinance seven assets across Europe it has acquired in a joint venture (JV) with investor Cadillac Fairview.
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LendInvest and British Business Bank collaborate to support the building of more homes
UK asset manager for property finance LendInvest is collaborating with British Business Bank to help finance smaller property developers to provide more homes across the UK.
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Purpose-built offices in Olney bought for almost £1.5m
A two-storey office building in Buckinghamshire market town Olney has been acquired by a Hampshire-based private investment company for £1.49m.
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Controversial MSG sphere greenlighted for East London
The MSG Sphere, an arena in the form of a giant orb earmarked for a site in Stratford, East London, described by West Ham MP Lyn Brown a “monstrosity”, has moved a step closer to gaining approval.
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Event Hire UK takes 55,000 sq ft at Barberry’s Wolverhampton site
Event equipment hire firm Event Hire UK has taken a 15-year lease on a 55,575 sq ft Wolverhampton warehouse owned by developer and investor Barberry Industrial for its new headquarters.
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Hong Kong developer pays Landsec £349.5m for Deloitte City HQ
Landsec has sold City office building One New Street Square to Hong Kong property developer Chinachem Group for £349.5m.
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Commercial real estate investment slumps in Q4 2022
Just £7.3bn of property assets changed hands during Q4 2022, down 41% on Q3, according to Lambert Smith Hampton’s (LSH’s) UK Investment Transactions (UKIT) report.
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TK Maxx signs leases for two new stores in Watford and Workington
Discount fashion and lifestyle retailer TK Maxx has announced it is opening stores in Watford and Workington this summer.
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TFT Consultants achieves B Corp status
Real estate and construction adviser TFT Consultants has gained B Corporation status, a designation recognising high standards of social and environmental performance.
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Harworth sells Chorley industrial park in transition to grade-A portfolio
Harworth Group has sold Moorland Gate Business Park, Chorley, for £5.3m as it continues to transition its investment portfolio to 100% modern grade-A space by 2027.