Offices news
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NewsReturn of energy bill ‘cliff edge’ could force 370,000 firms to downsize or close
Around 370,000 small firms may have to downsize or close when hit with radically higher energy bills following the end of the Energy Relief Scheme on 1 April, the Federation of Small Businesses (FSB) has warned.
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Vanguard takes space in Manchester’s Landmark office scheme
Investment group Vanguard has taken space in Barings Real Estate’s Landmark office scheme in Manchester.
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Office market set to see drop in sales values for Q2
The office market is forecast to see the greatest fall in sales values over the next quarter compared to industrial, retail and leisure, with prices per square foot predicted to fall by 2.7%, according to Robert Irving Burns (RIB).
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PIC agrees £268m blockbuster deal for Croydon Home Office hub
Pension Insurance Corporation (PIC) has agreed the £267.6m acquisition of 2 Ruskin Square, a new 344,940 sq ft office hub pre-let to the Home Office, from Schroders Capital UK Real Estate Fund.
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Grosvenor pre-lets Holbein Gardens to PE firm Oakley Capital
Private equity firm Oakley Capital has agreed a pre-let deal with property group Grosvenor to take all 26,500 sq ft of Holbein Gardens, a west London office building.
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Gamuda acquires Deutsche Bank’s London HQ Winchester House for £257m
Malaysian construction firm Gamuda Berhad has bought Winchester House, the current London headquarters of Deutsche Bank, for £257m, with plans to refurbish the office block and add an additional 200,000 sq ft.
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Top Vatican official says failed London property deal was ‘absolute deception’ in trial
A Vatican official has compared the events leading up to the deal for a prime London office block with Jesus’ march towards crucifixion after testifying in the Vatican’s ongoing ‘trial of the century’.
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Bristol office rents growing at fastest rate of any UK regional city
Bristol’s office market has recorded the strongest growth in rents in any UK city outside London over 2022, at 12%, according to Knight Frank’s 2023 UK Cities report.
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Acuitus offers 11 lots for more than £1m at its March auction
A parade of shops in Southampton, Hampshire, with flats and offices above, listed at a guide price of £2.5m, will lead Acuitus’s 45-lot auction on 30 March, which includes 11 lots with guide prices of £1m-plus.
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US hedge fund sues developer for breaking alleged Royal Albert Dock deal
US hedge fund Baupost has filed a High Court claim suing UK developer DPK Management for allegedly breaking a deal to jointly acquire London’s Royal Albert Dock development.
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Standard Chartered commits to global HQ in City of London
Standard Chartered has signed a new reversionary lease at its global headquarters in London, committing to its long-term future at the City of London.
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Online
WeWork reopens flagship City of London flexible office
WeWork’s flagship flexible office location in the City of London has reopened following a major revamp to “meet the evolving needs of the modern workforce”, Property Week can reveal.
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Online
Lloyds Bank signs major letting for new Leeds HQ
Lloyds Banking Group will move to MEPC’s office building 11 and 12 Wellington Place in Leeds after signing for 124,000 sq ft, in one of the city’s largest lettings in recent years.
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Hammerson greenlighted to turn Birmingham’s Drum into 200,000 sq ft offices
Property giant Hammerson has been granted planning consent to repurpose the former John Lewis department store building at Grand Central, part of its Birmingham Estate, into 200,000 sq ft of offices.
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Henry Boot to relocate Sheffield HQ
Property investor, developer and construction company Henry Boot is to move its head office to The Isaacs Building on Charles Street in Sheffield city centre after 90 years at its Banner Cross Hall office on the edge of the city.
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IWG adds employee perks for workspace users
Flexible workspace provider IWG aims to broaden the range of services it offers as it expands from the provision of space to the provision of services, chief executive Mark Dixon told Property Week at Mipim in Cannes.
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Obayashi buys London’s 60 Gracechurch Street
Obayashi Properties UK, a subsidiary of Japanese construction group Obayashi Corporation, has bought 60 Gracechurch Street for around £160m from German investment and asset manager KGAL Investment Management.
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Final unit let at Sandown industrial development
The 65,000 sq ft Equus development at Sandown Industrial Park in Esher, Surrey, is now fully let, after Advanced Logistics for Aerospace (ALA) took the final unit.
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Avant Homes greenlit for £58m Nottinghamshire resi development
Housebuilder Avant Homes Group has been granted planning permission for a £58m residential development in Awsworth, Nottinghamshire.
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Gerald Eve snapped up as Newmark continues UK expansion
Gerald Eve has become the latest UK consultancy to be snapped up by US-based commercial real estate services business Newmark Group as part of the latter’s move towards increasing revenue generation internationally.
