All Property Week articles in 3 October 2003 – Page 3
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News
Smith urges RDAs to provide cheap offices
Former culture secretary Chris Smith has urged regional development agencies to provide cheap office space for small firms in the creative sector. At a seminar organised by the RICS and think-tank Demos, Smith said creative industries were key to the UK’s economic success and providing the sector with business ...
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News
Chancerygate meets growing freehold demand
Industrial specialist Chancerygate has introduced a new concept that aims to cash in on growing demand from occupiers for freehold ownership. The company has acquired three sites, to be branded Chancerygate Business Centres, in South Ruislip, Wokingham and Twyford in Berkshire. The company has also raised £30m to spend on ...
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Professional
Case news
The statute rulesJ McDonald v J Fernandez 19 August 2003, Court of AppealCommercial landlords sometimes have to regain possession of property occupied by residential tenants. There is a considerable amount of residential law that such landlords need to be aware of and this case highlighted the importance of complying with ...
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News
VAT may change to encourage brownfield
Regeneration minister Lord Rooker has hinted that the government may be ready to change the VAT regime on brownfield and greenfield land to encourage development on previously used land. ‘At the moment there are no tax advantages to building on brownfield,’ Rooker said at a British Property Federation seminar ...
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Markets
Breaking the Cowes cliche
Developing the Isle of Wight economy beyond a week's summer sailing is a challenge that is being taken up by the public sector.
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News
Blackstone bucks London hotel trend
US private equity firm the Blackstone Group has bought the Marriott Grosvenor Square Hotel in Mayfair, London, from a private Japanese investor. Blackstone Real Estate Advisers will spend £4.5m refurbishing the 221-bedroom five-star hotel. It is thought to have paid between £65m and £70m, but exact terms have not ...
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News
Law firm renews Birmingham lease
Eversheds has renewed its lease at Edmund House on New Hall Street in Birmingham at £19/sq ft (£204.5/sq m). It is renewing its lease on four floors totalling 30,088 sq ft (2,795 sq m) at the property, which is jointly owned by Catalyst Capital and JER Partners.
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News
Olympic bid looks to private sector for land buys
Private developers could be brought in to help fund land acquisition in the Thames Gateway for the capital’s Olympic bid, the chief executive of the London Development Agency has said. The LDA estimates it will need £500m to acquire the 200 acres (81 ha) it would need to host the ...
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News
Benchmark board looks at sale options
Kempner announces 27% NAV drop and hints at sale of company
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News
Topland back with a bang in London and Bristol
Topland Group, the private property investor, is set to return to acquisitions with deals in London and Bristol. The company run by Sol and Eddie Zakay was this week expected to pay Standard Life £58m for First Avenue House at 42-49 High Holborn, London WC1, which is occupied by ...
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News
City take-up falls short of average
Central London take-up remained flat in the third quarter of 2003. City take-up was just 501,000 sq ft (46,544 sq m), taking the total for the year to 1.8m sq ft (167,224 sq m), according to figures from DTZ . Director James Oliver said that although August was very positive, ...
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Professional
Atkins stakeholders
The controversial Atkins diet has a growing band of followers in the property world. Mark Jansen reports on their progress
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News
Laing O’Rourke snaps up Asite shares
Construction firm Laing O’Rourke has taken options over shares in online tendering portal Asite that could dilute founding director Robert Tchenguiz ’s stake from 26% to 9%. Tchenguiz, through his vehicle B&C Plaza, holds 25.9% of Asite, which has failed to turn a profit since its formation in October ...
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News
Greene King man leads Fleurets arm
Fleurets, the specialist pub adviser, has launched a new restaurant advisory business. Richard Negus has joined from Greene King, where he was senior estates manager, to head the division. James Posner, who is already at Fleurets, will join him.
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News
Auction analysis
An upturn in buy-to-let investor interest has fuelled recent sales but investors are continuing to bid for diverse lots and seeking balanced portfolios. FPDSavills raised £18.5m at its 22 September auction in London’s Royal Garden Hotel, partially because of investor appetite for buy-to-let property. Average rents on buy-to-let properties rose ...
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News
Amec on board at BT City offices
BT has sublet a swathe of office space to construction company Amec as part of its central London disposal programme. The 50,000 sq ft (4,650 sq m) subletting at 207 Old Street, EC1, is one of the largest on the City fringe this year. BT has a lease on ...
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Insight
I am proud to work for Jarvis – it stops me from becoming a political anorak
The last word, with Steven Norris
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News
CHIP is up after flotation
Close Property Management has reported a 10% increase in the share price of its high-income fund Close High Income Properties (CHIP) since floating on 4 April, despite suffering a setback last week. Reporting its interim results to the London Stock Exchange last week, CHIP revealed a net asset value of ...
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News
Law firm ups sticks after Mayfair row
Reid Minty moves in party wall spat with Grosvenor and Hammerson
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Professional
Acid testing the expert witness
Despite many warnings, expert witnesses are still falling foul of the rules on impartiality.
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