All Property Week articles in 29 February 2008 – Page 2
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OnlinePrestbury’s £220m London portfolio deal confirmed
Nick Leslau’s Prestbury has completed the purchase of a portfolio of nine central London building from Invista Real Estate, as exclusively revealed in Property Week last month.
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Consultation on 'Brownfield Skills Strategy' launched
English Partnerships and the Academy for Sustainable Communities have launched a consultation on a new national strategy to improve ‘brownfield skills’ and support Government plans to build three million new homes by 2020.
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CTP and Sainsbury submit Neston Town Centre plans
CTP and Sainsbury’s have submitted a planning application to Ellesmere Port and Neston Borough Council for a large scheme in Neston Town Centre.
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Stonemartin MD quits as company freezes expansion plans
Stonemartin’s managing director Colin Peacock has resigned as the service-office company freezes all acquisitions for the ‘medium term’ citing adverse economic conditions.
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OnlineAsda Living gets expansion plans under way
Asda has confirmed plans to open three ASDA Living Stores in retail parks in Newport, Stratford-Upon-Avon and Teesside later this year.
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Germans in £600m London raids
German institutions have bought nearly £600m of central London offices so far this year, accounting for a third of overseas purchases of British property. During the first two months of this year £3.8bn of UK commercial property has been sold, meaning the first quarter by value is set to be ...
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HSBC takes massive sub-prime hit
Yesterday HSBC spelt out the damage it had suffered from its foray into lending to US consumers with poor and patchy credit records. Financial Times
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News
Over 50 government buildings taken offshore
The article, “Over 50 government buildings taken offshore” has been removed. We accept that Babcock & Brown Public Partnerships (BBPP) pays tax in the United Kingdom in accordance with UK and EU legislation.
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Atlas reverses losses
Atlas Estates, the central and eastern European property investment company, has reported €20.2m (£15.5m) of pretax profits for the year to December 31, reversing a loss of €9.8m for the previous 11 months of trading. Revenues rose to €27.6m from €5.3m in the previous period. The Times
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Post office closures will 'destroy village life'
Plans to close hundreds of rural post offices will undermine communities and leave many living in the countryside isolated, one of Gordon Brown’s advisers has warned. Daily Telegraph
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'Near-prime' the next big worry for banks
Forget sub-prime mortgages: the fear has now moved the next step up, to those financial stocks such as HBOS exposed to 'near-prime' mortgages. The Times, Daily Telegraph
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News
All borrowers face property lending freeze
The debt drought will force some banks to reject refinancing requests even from solid UK property investors, says Susan Geddes, head of real estate finance at Abbey. Daily Telegraph
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Balfour wins in Dubai
Balfour Beatty said that Dutco Balfour Beatty Group, a Dubai construction group in which Balfour Beatty has a 49 per cent stake, has secured two key projects worth 1.5 billion dirhams (£220 million). The Times
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Nomura chief falls on sword after US losses
Nobuyuki Koga, Nomura Holdings president and chief executive, is to step down in a move widely seen as prompted by the heavy US sub-prime-related losses Japan’s largest brokerage has suffered. Financial Times
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Bradford & Bingley down on rights issue fears
Bradford & Bingley, the specialist mortgage lender, led banking stocks lower on fears that it might need a rights issue if it was forced to write down the value of its £1.1bn investment portfolio or its £1.3bn holding of bank bonds. Traders noted that B&B was in a precarious position ...
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Online
Porn and property baron dies
Soho Estates owner and porn baron Paul Raymond has died aged 83.
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OnlineHigh Court £154m property battle settled
A High Court battle between developers Frontier Estates and Abstract Land over the profits from the sale of a £154m Birmingham office scheme has been settled out of court.
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OnlineCarillion and Igloo to develop Olympic media centre
Construction company Carillion and regeneration vehicle Igloo have been chosen as the developers of the 1.3m sq ft Olympic Media Centre.
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OnlineWrenbridge founder sets up new company
The co-founder of Cambridge-based Wrenbridge Land has set up a new company called Endurance Estates which will focus on commercial and mixed use development and investment in the East Midlands and east of England.
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Invesco and Pramerica pair start new property fund manager
The heads of Invesco Real Estate Europe and Pramerica Real Estate Investors have started a new property fund management company aiming to take advantage of the downturn in the European property market.
