All articles by Clayton Hirst – Page 5
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News
DFID move provokes Whitehall property row
A bitter row has erupted within the civil service over the relocation of the Department for International Development (DFID) in London s West End. The disagreement threatens to re-open the debate on the Government s property strategy. Whitehall sources have revealed that the disagreement stems from a Treasury memo issued ...
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News
LandSec plans West End’s largest block for decade
Land Securities is drawing up plans to create the largest single office block in the West End for more than a decade by redeveloping a slice of its Victoria estate. Headed by Ian Henderson , the company is proposing to demolish two 1960s office buildings on Victoria Street and ...
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News
Celexa plots industrial investment assault
Celexa Real Estate, the property fund manager that split from Swedish pension fund SPP last year, will today launch a euro 250m (£175m) pan-European industrial property fund. Sources have revealed that the fund, which is run from Celexa's Amsterdam office, will become the first Netherlands-based vehicle specifically targeting distribution ...
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News
Royal & Sun set to take 25% Moorfield stake
Moorfield Estates, run by former analysts Marc Gilbard and Graham Stanley, has set up a leveraged property vehicle to buy a £392m portfolio from Royal & Sun Alliance. The deal will represent Moorfield s biggest acquisition since Gilbard and Stanley took charge in January 1996, and is structured to ...
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Markets
How the west was won
City & West End s success is largely due to Patrick Despard s enviable knack of reading the market.
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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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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
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
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
Lipton leads Stanhope to investment market
Stuart lipton , the man behind Broadgate and Stockley Park, is planning to enter the property investment market. He has appointed headhunters to recruit a high-flying broker to Stanhope, his development and project management company. Sources close to the company said that Lipton has amassed considerable equity from ...
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News
Heron to increase its West End exposure
Heron International is planning a speculative office redevelopment behind London's Oxford Street, helping it to become one of the most active developers in the West End. Run by Gerald Ronson , Heron has formed a joint venture with Axa Equity & Law to redevelop 105 Wigmore Street. The ...
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News
Salomon days from signing Canary deal
Salomon Smith Barney, the US investment bank owned by Citigroup, is days away from signing a deal with Canary Wharf Ltd for a new base. Sources close to the talks said that Canary Wharf will build a 46,450 sq m (500,000 sq ft) office for the bank next to ...
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News
JLW brokers desert New York office over merger
Jones Lang Wootton has been hit by the resignation of more than half of its broking team in New York. The defections are in protest against management and pay structures proposed under the merger with LaSalle Partners. Some 14 staff have walked out this year prior to the approval ...
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News
MEPC and Regus link up in profit-share deal
MEPC and Regus this week completed a profit-sharing deal to open a serviced office in London's St James's. The deal could lead to further joint ventures between the companies. Mark Dixon 's Regus has taken MEPC's former headquarters at the Grade II-listed 12 St James's Square as well ...
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News
Pillar and Railtrack to couple at Cricklewood
Railtrack is about to hook up with Pillar Properties to take forward one of the largest development schemes in the United Kingdom. The two parties are in advanced negotiations to form a joint venture at Cricklewood Sidings, next to Hammerson 's Brent Cross shopping centre in north London. ...
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News
GLA finds a home at London Bridge site
The Government is to end months of farcical feuding over the site of the Greater London Authority by announcing that it is to be based at London Bridge. A government source told Property Week that the Foster -designed scheme had been selected and an announcement would be made in ...
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News
NPC founder Gosling sets up property firm
Sir Donald Gosling, the joint founder of National Parking Corporation who last year sold the company for £800m, has set up a property company. Gosling has teamed up with his former NPC chief executive Gordon Layton to create Consolidated Property Investments. Based in Marble Arch, London, the company has ...
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News
Reuters move could seal Docklands as media hub
Reuters, the news agency, is considering a wholesale move to Docklands as part of a review of its London properties. A source close to the group said that a Docklands move is high on the list of options . Such a move would result in it developing a new ...
