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NewsBoreal IM secures £208m Pbb facility to refinance seven assets
Investment manager Boreal IM has secured a combined €237m (£208m) loan from specialist lender Pbb Deutsche Pfandbriefbank (Pbb) to refinance seven assets across Europe it has acquired in a joint venture (JV) with investor Cadillac Fairview.
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LendInvest and British Business Bank collaborate to support the building of more homes
UK asset manager for property finance LendInvest is collaborating with British Business Bank to help finance smaller property developers to provide more homes across the UK.
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Purpose-built offices in Olney bought for almost £1.5m
A two-storey office building in Buckinghamshire market town Olney has been acquired by a Hampshire-based private investment company for £1.49m.
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Controversial MSG sphere greenlighted for East London
The MSG Sphere, an arena in the form of a giant orb earmarked for a site in Stratford, East London, described by West Ham MP Lyn Brown a “monstrosity”, has moved a step closer to gaining approval.
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Event Hire UK takes 55,000 sq ft at Barberry’s Wolverhampton site
Event equipment hire firm Event Hire UK has taken a 15-year lease on a 55,575 sq ft Wolverhampton warehouse owned by developer and investor Barberry Industrial for its new headquarters.
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Hong Kong developer pays Landsec £349.5m for Deloitte City HQ
Landsec has sold City office building One New Street Square to Hong Kong property developer Chinachem Group for £349.5m.
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Commercial real estate investment slumps in Q4 2022
Just £7.3bn of property assets changed hands during Q4 2022, down 41% on Q3, according to Lambert Smith Hampton’s (LSH’s) UK Investment Transactions (UKIT) report.
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TK Maxx signs leases for two new stores in Watford and Workington
Discount fashion and lifestyle retailer TK Maxx has announced it is opening stores in Watford and Workington this summer.
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TFT Consultants achieves B Corp status
Real estate and construction adviser TFT Consultants has gained B Corporation status, a designation recognising high standards of social and environmental performance.
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Harworth sells Chorley industrial park in transition to grade-A portfolio
Harworth Group has sold Moorland Gate Business Park, Chorley, for £5.3m as it continues to transition its investment portfolio to 100% modern grade-A space by 2027.
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Puma loans Vita Group £24m for Belfast PBSA development
Puma Property Finance is providing a £24m development facility for Vita Group’s purpose-built student accommodation (PBSA) scheme with 269 studio rooms in Belfast City Centre.
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LondonMetric’s chair steps down
LondonMetric’s chair Patrick Vaughan is set to step down from the board with effect from 11 July 2023.
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Industrials REIT reports muted investment activity for Q4 2022
Investment activity at Industrials REIT remained muted in Q4 2022 compared to previous years, according to Industrials REIT’s multi-let industrial (MLI) trading update for 1 October to 31 December 2022.
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PM stumbles in Zahawi zone
If any of us wondered what kind of leadership the UK might get from prime minister Rishi Sunak, we now have a clear indicator courtesy of the tax troubles of Conservative party chair Nadhim Zahawi. The leadership we are getting is not what we need.
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Property Week Digital Edition – 27 January 2023
West Midlands mayor Andy Street on helping to land big investments from public and private players – Why more developers are choosing to retrofit rather than demolish and redevelop heritage buildings - The industrial boom may be ending, but experts say the long-term outlook is good
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Historic England backs PJ Livesey’s York hospital development plan
Developer PJ Livesey Group’s submitted proposal to transform York’s former asylum, The Retreat, into apartments, has gained support from Historic England, the public body tasked with protecting England’s historic environment.
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Five of 10 regional cities saw office rental growth in 2022
In 2022, five of 10 regional cities – Bristol, Leeds, Manchester, Newcastle and Sheffield – recorded rental growth for offices, according to Knight Frank’s report UK Cities – Looking Back Moving Forward 2023.
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UK’s ‘first hybrid commercial estate agency’ launched
Former commercial property agency City & Counties Commercial has relaunched as Whozoo, to offer a platform connecting partner agents with clients buying, selling or developing commercial property in the UK.
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Vail Williams launches menopause awareness campaign as government rejects Equality Act changes
Property consultancy Vail Williams has launched a campaign to raise awareness of menopause, following the government’s rejection of proposals from the Women and Equalities Committee for menopause leave pilot schemes.
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Maersk takes 41,500 sq ft at Network Space’s Altrincham site
Developer, investor and manager Network Space has agreed a pre-let deal for logistics firm Maersk to take 41,500 sq ft of space at its Greater Manchester scheme.
