All Property Week articles in 30 July 1999 – Page 2
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News
REStQ dispenses with gardening leave
Six ex-Richard Ellis St Quintin directors who have been on enforced gardening leave for three months have won a reprieve from a further three months of weeding and sunbathing. After the merger was concluded in April, REStQ s board of directors originally imposed six months leave ...
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News
Thorn in side of developers
Thorn EMI has pulled the carpet from under the feet of several UK developers preparing bids on its site in Hayes, Middlesex, by selling it off-market to a Far Eastern fund. Thorn, which was taken over by Japanese investment bank Nomura last year, appears to have used its new Far ...
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Markets
Winning the local Derby
Derby has long been a poor second to Nottingham as a shopping centre, but new plans have raised hopes of the city competing more effectively.
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Markets
Nottingham & Derby retail
Nottingham was recently placed number two in Management Horizons league table of premier shopping centres outside London s West End. This success must be, in part at least, attributed to the high-profile and active Town Centre Management programme which ensures that the city is successful in attracting shoppers ...
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News
Petchey sells Dencora stake
Jack Petchey has sold his 6.2% stake in Suffolk-based industrial specialist Dencora to the company s joint managing directors. Trefick, the Isle of Man discretionary trust for which Petchey invests, sold the 1.165m shares to Dencora co-founders Colin Holmes and Richard Youngs at 218p each a 7p ...
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News
Serviced office market in danger of oversupply
The head of HQ Business Centres has warned that the serviced office market in the City of London is in danger of oversupply. Peter Kershaw, HQ s MD, said that inexperienced operators, providing middle-to-low range serviced office space, were flooding the market, and were in danger of driving down rents. ...
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News
Sultan lets Cunard House
The Sultan of Brunei s UK property investment vehicle, Bahagia Investments, has let its only City-based development. Bahagia has agreed terms with insurance firm Wellington Underwriting on the outstanding 2,790 sq m (30,000 sq ft) at Cunard House at £481.69/sq m (£44.75/sq ft) with 14 months rent-free. Weatherall Green ...
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News
Small firms still surfing on the crest of a wave
Three of the smallest property companies, UK Land , Bourne End and Moorfield , saw their shares soar last week on the back of takeover rumours and private investor interest. An article in the Sunday Telegraph s Diary of a Private Investor suggested that UK Land was worth ...
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News
Makeovers for council malls
Tesco announced last week that it had identified five shopping centres on council estates that were ripe for redevelopment and replacement by a Tesco Extra. Last week work started on the first of the five at Seacroft, near Leeds, when demolition began on the 1964 Seacroft District Shopping Centre. ...
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Markets
Transforming East Midlands coalfields
When Highbridge Properties first became involved in the East Midlands coalfields in 1996, there had been no speculative developments for 15 years, no significant out-of-town office park development, and commercial buildings had a utilitarian quality. However, our confidence in the region as a viable business location led us to develop ...
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News
Chicago firm Equis jockeys for position in UK market
Equis International is preparing to become the first US property consultant to open in the UK without a domestic partner as it launches an ambitious drive into Europe. The Chicago-based firm, with 26 US offices, also intends to bring the first purely occupier-orientated service to the UK. Introduction of ...
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News
Gap doubles Milton Keynes outlets with second store in new centre
US retailer GAP became the first shop to take space in Midsummer Place, Milton Keynes, last week, while retaining its existing outlet in the former New Town s adjoining main shopping centre. Gap signed a lease last Thursday to take a 1,300 sq m (14,000 sq ft) unit, which will ...
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News
Cash flow up for Trizechahn
Trizechahn, the Toronto-based property company that has embarked on a shopping centre development programme in Europe, increased its cash flow by 21% in the three months to June. Funds from operation the measure of cash flow rose to $80m (£50m). Rental income was up 15% to ...
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News
What the Butler saw, the judge did not
Bristol Port Company has successfully defended all UK port landlords against a landmark legal challenge from the oil and petrol giant Totalfina Oil. Butler, a subsidiary of Totalfina Oil, had its seven-year lease renewal appeal thrown out of court only two days into a five-day hearing. The case upholds the ...
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News
UTF man calls for new mix on brownfield schemes
Affordable housing requirements must be relaxed to facilitate effective mixed-use development, a member of Lord Rogers Urban Task Force warned last week, writes John Lewis. David Lunts, chief executive of the Prince s Foundation and a member of the UTF, told the environment select committee ...
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News
Shop specialist is LAP dancing to a bigger tune
London & Associated Properties , the shopping centre specialist, has carried out its first and largest acquisition for 18 months. The company has bought the Orchard Square Shopping Centre in Sheffield from MEPC for £15.8m, reflecting a yield of 7.3%. Built in the mid-1980s, Orchard Square comprises 30 retail ...
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Insight
Best of British
John Ritblat, chairman of British Land, tells us why buying Meadowhall is more important than being in the FTSE 100. Photograph by Gautier Deblonde
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News
Moderate results let Insignia beat US rivals
Insignia Financial Group, the New York-based property services group that owns Richard Ellis St Quintin, posted reasonable second-quarter figures this week, in stark contrast to the bad news from rivals Jones Lang Lasalle and CB Richard Ellis . The firm s results were hardly impressive net ...
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Markets
Leaving the backwaters
Wellingborough looks like a bit of a backwater on the map, 10 miles east of Northampton and another five from junction 15 of the M1. Therefore it comes as little surprise that Lambert Smith Hampton closed down its office there at the end of last month, moving two of ...
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