All Property Week articles in 5 March 1999 – Page 2
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News
Legal eagles find homes
Law firms Rowe & Maw and Baker & McKenzie are close to ending two of the longest-running requirements in the City. Rowe & Maw is understood to be looking at a 3,720 sq m (40,000 sq ft) pre-let at Development Securities ' £57m Blackfriars Court. Baker & McKenzie is believed ...
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News
Regus moves in next door to HQ rival
Serviced offices operator Regus will open a new centre next to rival HQ Business Centres proposed office at Stockley Park. Run by Mark Dixon , Regus has signed for 6,590 sq m (71,000 sq ft) at Standard Life s Lakeside House at £301/sq m (£28/sq ft). The ...
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News
Docklands growth dominates strategy
The ideal scenario for analysts and institutional shareholders in the-big-is-beautiful stock market environment would be to see Canary Wharf Group merge with Land Securities or British Land . The prospect of a huge £6bn property company dominating the central London office market would be mouth-watering for investors, who ...
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Markets
Diversity is the key to success
Spread your risks. This is the very first piece of advice a financial adviser will give to a novice equity investor. A diverse portfolio will ensure that you are not overly exposed to any one sector of industry. People wondering whether the West End market is in danger of tumbling ...
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News
Development is key to growth
Canary Wharf Group is pinning its hopes of equity growth on its gargantuan development programme. In the past 10 years, the company has completed more development than any other quoted property company. Looking to the next decade, Canary Wharf wants to beat this record. The company has built ...
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Markets
Development
Eighteen months ago, 30 Berkeley Square was let to British Telecom , breaking the £50/sq ft barrier (£538.20/sq m) for the first time this cycle. Optimism spread through the West End development market. Developers and agents pushed out their rent forecasts, and bidding for the best sites became ...
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Markets
Soho & Covent Garden
Soho and Covent Garden have been among the strongest performing areas in the West End in recent years, with a headline rent of £484.40/sq m (£45/sq ft) achieved in late 1998. Limited supply of large, flexible units and strong demand have been key features of the area, with particularly high ...
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News
Hermes sells Tudor Court
private Israeli investors, who have spent more than £200m on central London property in the last year, have added 6-8 Bouverie Square to their growing portfolio. Israeli agent Igal Ahouvi acted for a private investor to buy Tudor Court in the City for £26m from hermes at a net ...
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Professional
Can double counting be removed in rating?
Car parks A car park in a retail development is part of the common areas and should not be assessed or let separately by landlords A recent decision by the Lands Tribunal for Scotland has created a precedent that may consign the inequity ...
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News
Cooking oil to be the secret ingredient in new GLA headquarters
If stocks of vegetable oil in London run low in 2001, blame Sir Norman Foster . Last month, Property Week revealed that the Foster-designed scheme at London Bridge City had been chosen to house the Greater London Authority . We can now report that the building will be heated ...
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News
E&G revival continues
Estates & General s recovery since a restructuring of capital continued last year when it increased net asset value by 15% to 125p a share. Pre-tax profits rose 17.5% to £2.6m and the dividend was doubled for the second year, running to 1.6p a share. The main events of ...
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Markets
Park congestion
Occupiers look set to be squeezed by falling business park availability this year.
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Professional
Recovery and compensation
This report analyses the issues arising from the recovery of money paid under a mistake, the compensation payable to a landlord following a disclaimer and the return of goods after termination of a lease Case 1: Recovery of money paid under a mistake Case 2: Compensation payable to ...
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News
Leeds council pulls plug on development company
Leeds City Development Company, the council-owned property company set up to encourage public/private partnerships in the 1980s, is to be liquidated. The city council has decided to wind up the company and release an estimated £15m worth of city development sites to the open market. The largest site is Criterion ...
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Markets
Retail comment
New retail concepts evolve, as do the descriptions we give to the latest initiatives, be they out-of-town , in-town or edge-of-town . But what about the high street ? The West End is a somewhat large Town Centre , but what happens there traditionally sets ...
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News
Knock-down portfolios dog Chesterfield
Events at Chesterfield Properties over the last couple of weeks have caused more eyebrow-raising than is normal when a company is broken up. And the controversy was exacerbated this week when more details of the liquidation of the £350m portfolio emerged. GE Capital is buying 14 of Chesterfield's properties for ...
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News
Delancey revs up for car showroom venture
Delancey Estates has formed the first joint venture partnership between a property company and a car dealership in a £16.8m deal with Dixon Motors. The property company, run by james ritblat , has snapped up a 50% share in five of Dixon s existing showrooms, and plans to finance ...
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Markets
Capital finds tenants for Queensberry House
Capital & City has secured two new tenants at Queensberry House, 55 Grosvenor Street. Clayton Dubilier & Rice, a US fund manager, has taken 410 sq m (4,410 sq ft) on the fourth floor and construction group Jarvis has taken 226 sq m (2,435 sq ft) on ...
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News
REIT-style tax status makes Canary Wharf unique
Canary Wharf Group can be regarded as a seven-year, tax-transparent property fund when it floats on the Stock Exchange early next month. With a projected market value of around £2.4bn, it will become the third-largest quoted property company, after Land Securities and British Land , but it ...
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Markets
Comment: build or lose out
In Property Week two years ago I suggested the need for a tower to be built in the West End. This was in response to the Baltic Exchange/Millennium Tower proposals and the volume of development activity in the City. This suggestion reflected my concern over the problems that would be ...
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