All Property Week articles in 6 April 2018
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Local authorities hugely exposed in casual dining sector
Local authorities own 20% of all casual dining restaurants in London according to new data shared exclusively with Property Week.
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WeWork makes first acquisition of a UK company
WeWork has made its first acquisition of a UK company purchasing office fit-out company LTB as part of a global drive to buy up firms in its supply chain.
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Carpetright's shares plummet on news of store closures
Carpetright’s share price plummeted 8.1% to 38.55p on Thursday following n ews that the retailer is set to close 92 stores as part of its proposed company voluntary arrangement (CVA).
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Office Space in Town buys hotel and island in Devon
Office Space in Town (OSiT) has expanded its portfolio with the purchase of Burgh Island Hotel, its first non-office asset.
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Founder Gandesha steps down as chief executive at Property Partner
Real estate crowdfunding platform Property Partner has announced RFIB Group chief executive Marshall King as its new top man replacing outgoing chief executive and founder Dan Gandesha.
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LaSalle appoints head of real estate return funds
LaSalle has appointed Philip Nell as head of real estate return funds.
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TH Real Estate backs Wembley Park BTR with £36m loan
Quintain has secured a £36m five-year investment loan from TH Real Estate on its second build to rent development, Alto at Wembley Park.
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Zuaya secures debut restaurant site on Kensington High St
Latin American and Mediterranean fusion concept Zuaya has signed for a 2,500 sq ft site to open their debut UK restaurant at 35 Kensington High Street.
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Councils spend £3.8bn on commercial property in five years
Councils spent £3.8bn on commercial property between 2013 and 2017, according to a new report by retail membership body Revo and consultancy Carter Jonas.
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Screwfix secures first unit at Stockport spec dev
Southfield Development has pre-let the first unit of the second phase of its 40,000 sq ft speculatively developed scheme in Stockport to Screwfix.
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Carpetright to close 92 stores
Carpetright plans to close 92 stores as part of its proposed company voluntary arrangement (CVA), which creditors and shareholders will now be asked to vote on at the end of this month.
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Pacific purchases industrial portfolio from LondonMetric
LondonMetric has agreed the disposal of four distribution and two industrial warehouses to Pacific Industrial Logistics REIT in two portfolio deals for a combined £36m.
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Gazeley to build UK's first three-storey warehouse
Gazeley is set to speculatively develop the UK’s first three-storey logistics facility on a six-acre plot of land in Silvertown, London.
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Hammerson drops after fresh Klépierre bid is rebuffed
Hammerson’s share price fell 0.69% to 521.4 p on Wednesday after its board rejected a second approach from French rival Klépierre, saying the 635p a share bid “very significantly” undervalued the firm.
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Green light for final phase of £400m Green Park Village in Reading
The final residential phase of the projected £400m GDV mixed-use development around the new Reading Green Park railway station has been given the green light by the council.
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Funding into non-listed real estate reaches record levels
Equity capital invested into non-listed real estate reached record levels in 2017 with €152.3bn (£132.8bn) raised globally, according to research by the European Association for Investors in Non-Listed Real Estate Vehicles (INREV).
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AIG agrees funding deal for Manchester BTR scheme
Balfour Beatty and AIG Global Real Estate have completed a funding deal for a 274-home build-to-rent (BTR) development in Manchester’s New Cross.
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Record levels of Asian investment into UK real estate to continue
The majority of real estate professionals expect the amount of Asian capital invested into the European real estate market to increase over the coming two years with the UK being the top destination for investment.
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Littlewoods and Very owner to shut trio of distribution sites
Shop Direct, the owner of online fashion retailers Littlewoods and Very.co.uk, has announced plans to close its three distribution sites in Greater Manchester.
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Cording and Migdal make €56m light industrial portfolio purchase
Cording Real Estate Group has teamed up with with Israeli insurance company and pension manager Migdal to acquire three light industrial properties in Germany for €55.7m (£47.7m).