All Property Week articles in 7 May 1999 – Page 2
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Professional
Cost - cutters
Small estate agency firms are facing relentless pressure to slash commissions. We ask whether the latest resurgence in the market could stem the downward spiral
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News
Sequential test control is critical for retailers
Retailers are hoping for a test case to prevent local planners from trying to divide their merchandise between in-town and edge-of-town locations. The problem came to light last week in Controlling the Sequential Pest, published by the Edinburgh office of CB Hillier Parker . Richard Slipper, director of planning ...
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Markets
Witholding tax could shake confidence
Does the debate over withholding tax have an impact on London? Well yes, of course it does. The original reason that Credit Suisse First Boston and Morgan Stanley wanted to take space in the Canary Wharf project in the 1980s was to expand their euro dollar bond business. At ...
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Markets
Comment
Cast your mind back 10 years. Imagine a City agency practice giving relocation advice to the finance director of a major listed company looking for 3,720 sq m (40,000 sq ft). The budget isn't big, address is not paramount, but quality is. He is offered an interesting building currently being ...
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Markets
Developer comment: Hollybrook
Hollybrook began developing apartments in the Bermondsey, Butlers Wharf and Bankside areas of Southwark at the beginning of 1990. Having formerly been a small building company, its belief in the fringe London location has brought rich rewards. It now enjoys sales turnover around £30m. Hollybrook recognised these parts of Southwark ...
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News
Hillier Parker planning co-investment funds
CB Richard Ellis is in the final stages of assembling a US property fund, in a move which will lead to the firm s UK subsidiary CB Hillier Parker co-investing for the first time. CB Richard Ellis is understood to be weeks away from launching Strategic Partners, ...
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News
Focus closes Tamworth deal
Focus Do It All has completed the sale and leaseback of its Tamworth-based national distribution facility for nearly £28m. Clerical Medical Investment Group has bought the 31,760 sq m (341,845 sq ft) warehouse for £19.26m, representing an 8.48% yield. It will pay a further £8.05m if the DIY specialist undertakes ...
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News
Core City yields harden
Yields in the core City market have hardened, based on Delancey s £36.75m purchase this week of 55-61 Moorgate and 57-79 Coleman Street from Pearl Assurance. At a 6.33% yield, it shows that the market has moved since the last comparable deal five months ago, ...
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Markets
City investment
The City of London investment market had a record year in 1998; almost £3.25bn of property changed hands. However, a large number of high-profile properties failed to sell, which, when the market was so active, can only be as a result of mispricing. These included Milton Gate, Triton Court, 3-10 ...
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Markets
City development
A forest of tower cranes might suggest that the City of London is in the middle of a development boom, with 501,670 sq m (5.4m sq ft) on the way. However, a majority of the buildings under construction (57.4%) are pre-let or for own occupation, and those that are progressing ...
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Markets
City occupier market
The last quarter of 1998 saw a decidedly jumpy City office occupier market, unsettled by doom-and-gloom forecasts of up to 40,000 job losses. From the calmer standpoint of spring 1999, however, it looks as though its worst fears will not be realised. No-one has forgotten the effects of the last ...
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Markets
The return of the City rent review market
The introduction of elaborate definitions of the basis for reviews and upwards-only reviews has enjoyed a certain notoriety during the prolonged property recession. While the upwards-only rent review clause cannot be said to have caused the recession, it has probably made recovery more difficult. The City of London felt the ...
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Markets
City fringe
After a brief pause for breath in the autumn of 1998, due to the turmoil in the financial markets which resulted in uncertainty in the UK economy, the northern City fringes have seen a return to buoyancy in the first quarter of 1999. The Clerkenwell/Farringdon area has undergone a ...
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Markets
City take-up highest for more than a year
The City office market saw a 42% rise in take-up over the first quarter of 1999. Research from Ingleby Trice Kennard showed take-up for the first three months standing at 84,887 sq m (913,741 sq ft). However, activity remains low compared with the same period last year, take-up being 38% ...
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Markets
Church sells City Road site for resi scheme
The Church Commissioners have exchanged contracts on a cleared site of 0.17ha (0.41 acres) at 11/23 City Road. The site has been bought by City North Group for a 7,430 sq m (8,000 sq ft) primarily residential development. King Sturge represented the Church Commissioners, while Thompson Yates ...
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News
Schroder PUTs together fund for Chiswick Park
Schroder properties is set to establish its second single-asset offshore property unit trust to kick-start its proposed business park development at Chiswick Park in west London. With an end value of at least £450m, the Chiswick Park property vehicle would be the largest fund of its type and will ...
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Markets
Looking to the future: Rupert Cherryman, Chesterton
Since the first major letting at Canary Wharf during its administration, Docklands property owners have sat quietly but confidently awaiting better market conditions. Canary Wharf has clearly led the Docklands market and is perceived to be at its centre. Its successful stock market listing will have provided it with ...
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News
CGU disposals show focus on new markets
CGU, the Financial services group formed through the merger of General Accident Property Services (GAPS) and Commercial Union last year, has sold former GAPS land and new homes divisions in the south-east of England, Scotland and the Midlands to the management. The divisions were bought last week by David Leslie, ...
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News
Rowan teams up with Palmer Capital
Rowan Asset Management, the property investment and development vehicle, has joined forces with Palmer Capital Partners, the private capital equity house, to set up an £80m limited partnership. The partners are seeking to raise £25m of equity to form an opportunistic geared fund, which will invest in all asset classes. ...
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