All Property Week articles in 28 May 1999 – Page 3
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Insight
Pizza the action
Pizza and pasta restaurant group ASK Central is stealing sites from under the noses of restaurant groups more than twice its size. Lucy Benyon looks at how its property strategy has made this possible
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News
Bids for top property firms finally accepted
The long-awaited winnowing of listed property firms continued this week, as bids for Greycoat and Chesterfield Properties were finally settled. But further trimming of the overloaded sector may be around the corner as companies such as Evans of Leeds are squeezed by tough new accounting rules. Greycoat chief ...
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News
London & Continental set to overhaul King’s Cross
King s Cross, Europe s largest derelict urban site, could finally be transformed under plans being drawn up by London & Continental Railways. The group, which is to build phase two of the Channel Tunnel Rail Link to St Pancras station, believes that its plan could see ...
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News
Shop rents set to accelerate, warns Donaldsons’ indicator
Donaldsons Retail Indicator predicts that shop rents are about to rise faster than they have since Christmas 1997. Donaldsons partner John Burmester said that shoppers are more confident than they have been since before the general election. On a cautious reading, the Indicator still suggests that rental ...
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Markets
Pru’s Redhill centre full for first time
The Prudential has completed the letting of its 27,880 sq m (300,000 sq ft) Belfry shopping centre in Redhill. It is the first time the scheme has been fully let since it was built in 1989. David Hyland of Prudential said: Since we bought it four years ago ...
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Professional
The unpaid vendor’s lien: fact or fiction?
Unpaid vendor’s lien The lien arises as soon as the parties enter into a binding contract for sale and protects the vendor’s right to receive full payment Where the seller is entitled to additional payments over the amount of the sale, its rights could be overlooked ...
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News
ARLA blasts Scrooge letting agents for ‘miserly’ attitude to longhold tenants
Letting agents must stop doling out miserly six-month leases, and recognise that many tenants want to live in their rented homes for a long time. The warning was given in London last Friday by the new chairman of the Association of Residential Letting Agents, Frances Burkinshaw. She told the annual ...
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News
Chelsfield on target for £55m
Chelsfield expects to earn £55m by the end of the year from its Westbury Hotel sites in the West End and US, two years after buying them for £120m. In New Bond Street, the hotel has been sold to a private group for £68.25m, £18m up front and the ...
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News
WH Smith sales bring in £40m
WH Smith has completed the sale and leaseback of 26 high street stores for £40m, which will be reinvested into the company s principal operating activities. The deal looked uncertain in February when property director Keith Saunders left the company, but it was put back on track by finance director ...
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News
Pelham in $220m Polish push
Roger Orf s Pelham Partners and its US partner Apollo Real Estate have joined forces with Polish-based company Portico Developments to exploit the leisure void in the Polish market. The joint venture has committed $220m (£137m) to build multiplex cinemas. The move is part of Pelham s plan to strategically ...
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News
Real Estate Index hits 1999 high
In a week dominated by talk of takeovers and buyouts, it is not surprising that the Real Estate Index outshone the rest of the market, rising 1.2% to 1995, a high for the year. The All-Share crept up 0.5% to 2944 by Friday, stimulated late on by its own frisson ...
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News
£1.2bn Meadowhall bid
British Land announced to the Stock Exchange this week that it has made a staggering £1.2bn bid for Eddie Healey and Paul Sykes s Meadowhall shopping centre in Sheffield. The offer tops the £940m bids tabled by the Prudential and Capital Shopping Centres last year by a ...
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News
LandSec development rockets above £1bn
Land Securities has shaken off its staid image with a 60% jump in its development programme to more than £1bn. Managing director Ian Henderson denied this was a response to City criticism that the UK's biggest property company had fallen behind more exciting rivals. And he predicted even ...
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