All articles by Clayton Hirst – Page 4
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News
Young’s old guard backs aggressive London fund
Lord Young of Graffham, former Tory trade and industry secretary, is backing the revival in property values in an aggressive investment venture with former Scottish Widows fund manager Andrew Winskell. The pair have set up London Active Management with Neil Sinclair, co-founder of Sinclair Goldsmith, to target opportunistic ...
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Fortress joins Soros to bid for £2bn PFI plan
opportunistic us fund Fortress Investment is planning to make a grand entrance into the UK property market by bidding for the £2bn government PFI project. Run by UBS s former head of real estate Wes Edens, Fortress has teamed up with financier George Soros s Quantum Fund to provide ...
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REStQ bags plum job as PFI project adviser
The government has awarded the largest-ever single public property instruction to Richard Ellis St Quintin, as adviser on the Inland Revenue and Customs & Excise PFI project. The surveying firm beat off competition from King Sturge and Chesterton to win the contract, which is thought to be worth ...
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London & Continental set to overhaul King’s Cross
King s Cross, Europe s largest derelict urban site, could finally be transformed under plans being drawn up by London & Continental Railways. The group, which is to build phase two of the Channel Tunnel Rail Link to St Pancras station, believes that its plan could see ...
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Soros hunts company stakes in global push
George Soros, the international financier, is to spearhead his push into property investment by taking stakes in real estate businesses. In an interview with Property Week, managing partner of Soros Real Estate Partners Richard Georgi, who is fronting the drive, said: Generally we will not be investing directly ...
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£200m RDA cash under threat from Euro probe
The eight Regional Development Agencies, dubbed England s economic powerhouses by the government, could be starved of up to £200m in funding, because of European Commission intervention. Brussels this week ordered a freeze on the transfer of an English Partnerships grant regime Partnership Investment Programme ...
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Liverpool retail park clears final hurdle
Cardinal Lysander, the private property company run by Jonathan Harris, has secured funding for its proposed £70m retail and fashion park at Speke near Liverpool. The New Mersey Retail & Fashion Park, in which venture capitalist group Baltic Property Finance has already taken a 50% equity stake, is to be ...
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Discovery leisure plan secures MPs’ backing
Discovery Properties is planning an £80m leisure scheme in north London with the backing of culture secretary Chris Smith. The private property company, run by Hugo Hawkings and Paul Clarke, this week submitted a planning application to Haringey Council for the 55,230 sq m (594,500 sq ft) development on a ...
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Soros’ $600m investment push
George Soros, the international financier who poached Goldman Sachs head of European property, is to launch a $600m (£375m) push into global property investment. Soros has entrusted the money to Richard Georgi, who was this month hired as managing partner of Soros Real Estate Partners, based in St James ...
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$17bn US REIT plans move into UK shopping centres
Simon Property Group, a US Real Estate Investment Trust with a $17bn market capitalisation, is preparing to make a push into the UK shopping centre market. US sources said the specialist retail REIT is planning to open an office in London to launch its plan, which could ...
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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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Departing King Sturge boss sets up new HQ
David Pow oversaw his last deal as King Sturge s head of UK offices and London agency last week with the acquisition of new premises for the firm. Pow, who retired last Friday, helped to secure 75 Davies Street in Mayfair as King Sturge s new base for its ...
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Foster Wheeler plans HQ sale and leaseback
Foster Wheeler, the US engineering and construction company, is to conclude the rationalisation of its UK property with a bang by putting its giant Berkshire HQ on the market. Shire Hall, which will be offered on a sale and leaseback basis, is to be marketed by Healey & Baker ...
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AIG gazumps UBS to get into Curzon Street
American International Group (AIG), the largest US insurer, is today due to sign up for a floor at 1 Curzon Street in Mayfair, gazumping another party for the space. Advised by Weatherall Green & Smith, AIG s deal on the fifth floor will scupper plans being hatched by ...
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Railtrack makes haste to fill top-level void
Railtrack Property this week took urgent steps to fill a potentially damaging gap in its senior management team. The group has appointed headhunters to recruit a deputy property director after Mike Grant announced his departure last week, having spent just eight months in the job. The new recruit is ...
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Two in line for £60m Civil Service PFI plan
Two consortia, led by P&O and Rentokil Initial, will be told this week that they are within spitting distance of netting a major PFI project in Berkshire. The Cabinet Office has shortlisted the two groups to own and operate the Civil Service training college at Sunningdale. The scheme, which is ...
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NatWest buys a 25% slice of Gainsborough
NatWest Development Capital has invested in a 25% stake in Gainsborough, a small, serviced-office firm which it is hoping to help expand into a leading operator in the mid-range market. As part of the deal, the venture capital group has taken Gainsborough private and injected £1m of equity. ...
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Pearson begins search for single West End site
Pearson, the media group, is looking to consolidate its central London holdings and has introduced one of the largest current requirements to the West End market. The company which has interests in television, newspapers and books is searching for up to 13,940 sq m (150,000 sq ...
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Barclay brothers to inject £50m into Moorfield fund
The secretive Barclay Brothers, fresh from backing Philip Green s takeover of Sears, are to pump £50m of equity into a £392m property fund run by Moorfield Estates. It is understood that Frederick and David Barclay are close to acquiring a stake of around 75% in Moorfield Capital ...
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Lasalle to raise £100m for high-yield plan
LaSalle Investment Management is hoping to raise more than £100m from the sale of an office in London s Victoria, as part of a plan to redeploy capital in higher-yielding opportunities. On behalf of British Coal Pension Scheme, LaSalle is expected to put 151 Buckingham Palace Road on the ...
