All Property Week articles in 5 March 1999 – Page 3
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News
Boost for Green and C&R
Green Property and Capital and Regional both saw their shares soar 19% last week in a fairly flat market after producing sparkling 1998 results. Both Green (NAV up 28%) and C&R (NAV up 18%) far exceeded City forecasts. St Modwen , which also surprised the City the week before, ...
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Markets
CSFB buys block in Kensington High St
Credit Suisse First Boston, through its new global fund Praedium Performance Fund IV, has bought 165-181 Kensington High Street for £17m. The deal with Morgan Grenfell Asset Management represented a 6.4% yield. The freehold block consists of six retail units and self-contained offices. Richard Ellis acted for Praedium, while Joiner ...
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News
IPD provides bigger picture
IPD has improved its monthly index by introducing equity and gilt return figures for comparison with those of property. The first index for the year for January published this week shows that gilts were the best monthly performer (1.5% returns), followed by equities (0.9%), with ...
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News
Teesland in records bid
Teesland is bidding to house the Criminal Records Bureau in a £20m office development in the centre of Liverpool. The Home Office is set to decide next week where to locate its requirement for up to 11,000 sq m (118,400 sq ft) in Merseyside. Teesland has set up a joint ...
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News
A deal between Friends
Pillar Property is close to completing a deal with Friends Provident to buy 5 Cheapside, an office next to the Paternoster Square development site behind St Paul s Cathedral. Market sources suggest that Pillar will pay £18m, reflecting a net initial yield of 5.5%, for the 3,160 sq m ...
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News
Small is beautiful vs the magic roundabout
A public inquiry should finally settle the propaganda-plagued battle between Legal & General and Allied London for supremacy in Bracknell.
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News
Wates plans buy-back to beat share price flop
Wates City of London Properties is planning to sell or securitise properties and use the proceeds to buy back shares, in a bid to reduce the gap between its net worth and its share price. Joint chief executive Rodney Clutton said that the gap between the share price (around 72p) ...
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Markets
Bearing west
For the past decade, developers have had big plans for Paddington, but none have been realised. Can the Paddington Regeneration Partnership kick-start redevelopment?
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News
Ashtenne steals march in Cleveland bid war
Ashtenne, the industrial specialist, has seized the initiative in the battle for bid target Cleveland Trust by acquiring an option to buy a 28.4% stake in the company. The option, which expires on 11 May, has been negotiated at a price of 105p a share with Trefick, the Jack Petchey-linked ...
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Markets
Appliance of science
Developers are keen to build the next Silicon Valley here in the UK. But their ambitions could prove premature.
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Markets
Andersen sets up in Kensington
Walt Disney is close to letting its vacant space at the Kensington Village office complex, following its move to Hammersmith. Andersen Consulting has put 3,160 sq m (34,000 sq ft) under offer at Beaumont House, which is being marketed by Jones Lang Wootton. Represented by Weatherall Green & Smith, ...
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News
AMEC dropped from Manchester scheme
Manchester City Council has unexpectedly booted AMEC Developments off a £30m leisure scheme planned for the 2002 Commonwealth Games. The Eastlands site in Manchester is part of a £120m development plan to build a sports stadium, nicknamed the Wembley of the North , plus new indoor and ...
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News
Used Dome for sale: all offers considered
Universal Studios and the Tussauds Group are considering separate bids for the Millennium Dome on London s Greenwich Peninsula once the Millennium Experience is wound up. Minister for London Nick Raynsford yesterday declared that the Dome was for sale and sent out 1,000 prospectuses to the US, Europe and Asia ...
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News
Shoppers back in town again
Shoppers are flocking back to town-centre supermarkets, according to research published last week by Healey & Baker . Its study, Where people shop in Great Britain, shows that last year 62% of women used town-centre supermarkets, compared with 54% in 1997. Men showed equal enthusiasm for the centre, as 67% ...
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Markets
Billiton to be the first tenant at new Adelphi
FTSE 100-listed Billiton is to become the first tenant of the refurbished Adelphi, the art deco office facing the Thames. The South African mining group has taken 2,510 sq m (27,000 sq ft) in the tower, which is owned by Gefica Industries. Represented by Conrad Ritblat, Billiton has taken a ...
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Markets
Planners will have to accept new uses for Noho
There is a small corner of the West End that is dear to my heart. It is that little patch north of Oxford Street, which used to be called the rag trade area. It is here that I packed cardigans into boxes for several years in my late ...
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Professional
Stamping out doubts about the duty rate
Stamp duty Each increase in stamp duty has been accompanied by a 'saving' provision that allows transfers to be stamped at the old rate in certain circumstances The Stamp Office is reluctant to acknowledge that an option is an agreement for sale that ...
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News
Ramparts first to go in the Pru’s retail sell-off
Prudential is looking to offload three shopping centres as part of the realignment of its portfolio towards industrial and office buildings. It has kick-started the sell-off by putting its Tower Ramparts shopping centre in Ipswich on the market for £26m. It is understood that two other similar-sized centres ...
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Markets
Mayfair & St James’s
As the backbone of the West End market, Mayfair and St James s have shown steady rental growth and strong occupier demand since the mid-1990s. Over the past two years, headline rents increased by 20%, with vacancy levels in grade A stock standing at only 2%. However, over the past ...
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Markets
St James’s Square new home for Virgin Net
Virgin Net has signed for the third floor of Norfolk House in St James s Square. The Internet service provider has taken 960 sq m (10,340 sq ft) in a sub-lease from AT&T, at a passing rent of £363.29/sq m (£33.75/sq ft). Agent Richard Ellis represented AT&T.
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