All Offices articles – Page 14
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News
JLL reports 3.4m sq ft of central London space under negotiation
The latest JLL research shows occupiers continue to commit to new offices in the capital and the firm estimates that around 3.4m sq ft of space is subject to negotiation across the market for Q4, up 13% on the corresponding quarter of 2022 and 24% on the 10-year average.
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News
Illicit drug profits ‘flowing’ through City of London into UK property, senior MPs warn
A group of senior MPs have warned that illicit drug profits from Asia are flowing into UK property through the City of London.
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News
BrewDog boss slams council and developer over ‘delayed’ Durham bar opening
The boss of brewery and pub chain BrewDog has taken aim at Durham County Council and joint venture developer The Arlington Real Estate and Richardson over delays in opening a bar, which he claims have now stretched beyond 12 months.
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News
Flexi-office provider Spacemade to add Marylebone location to portfolio
Flexible workplace provider Spacemade is adding 5,000 sq ft of flexible office space in Marylebone, London to its portfolio, after signing an agreement with the Howard de Walden Estate.
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News
Major London office development goes into receivership
A major London office development that included plans for an innovative 1.4-acre urban rooftop and 430,000 sq ft of office space has been placed under receivership after defaulting on a loan provided by the billionaire Reuben Brothers.
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News
Eat Work Art takes over ex-WeWork building to launch Hackney workspace for creatives
Creative workspace provider Eat Work Art has been awarded the leasehold of a former WeWork building in Hackney, east London, where it will open its latest location for the creative industries.
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News
Landsec looks to prime retail for new opportunities as it reports £193m loss
Landsec is “looking for opportunities to deploy further capital” with a particular focus on prime retail, chief executive Mark Allan said today after the firm posted a £193m loss for the half year ended 30 September.
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News
Regional REIT reports robust Q3 despite office market headwinds
Regional REIT achieved a high tenant retention rate for Q3, with 73.2% of units up for renewal let to the same tenants at an average 6.2% rise in rental income, its trading update for the quarter said.
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News
HUB and Bridges plan resi conversion for £39m Aldgate office purchase
HUB and Bridges Fund Management have bought a central London office block in Aldgate for £39m with plans to convert it into a residential scheme.
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News
Galliard and City Developments JV buys massive Morden Wharf site
Mixed-use developer Galliard Homes has acquired the 13.8-acre Morden Wharf site in London’s Royal Borough of Greenwich to develop around 1,500 homes, in a joint venture with City Developments Limited (CDL), Property Week can reveal.
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News
Green light for Gen Two’s Cambridge life sciences hub
Life sciences developer Gen Two has been given the green light to develop a 125,000 sq ft life sciences hub in Cambridge.
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Insight
Storm clouds are gathering over the office market
The sector faces challenges and a correction lies ahead – so buyers and occupiers have much to consider.
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News
Industry could be on the ‘cusp’ of a serious downturn in demand
There is a sense the industry could be “on the cusp of a serious downturn in demand across the markets”, Gareth Lewis, PwC director, said during a webinar yesterday to launch the firm’s joint report with the Urban Land Institute (ULI) titled ’Emerging Trends in Real Estate Europe’.
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News
Revolut in talks to move headquarters to iconic Canary Wharf YY building
Fintech banking firm Revolut is in talks to move its headquarters to a 113,000 sq ft space at Quadrant’s YY building at Canary Wharf.
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News
UK Commercial Property REIT and Picton in merger talks
UK Commercial Property REIT (UKCM) is in discussions with Picton Property Income regarding a possible all-share merger, which would create a company with net assets of around £1.6bn and a portfolio worth around £2bn.
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News
WeWork files for bankruptcy in US but ‘business as usual’ for UK operations
WeWork has filed for Chapter 11 bankruptcy in the US but declared it is “business as usual” for its operations in the UK and Ireland.
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News
Delay in completing London office schemes to push up rents, Gerald Eve report says
London office developments may face further delays due to increased financing margins, putting additional pressure on supply of best-in-class space and pushing up top-end rents, according to the London Markets report from property consultacy Gerald Eve.
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News
Ex-WeWork execs to help landlords with ‘struggling workspace operators’
Flexible workspace firms Re-Defined and Platformspace have formed a new partnership, bringing together several of WeWork’s former executives with the aim of stepping in to take over space from operators struggling in the co-working market.
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News
LondonMetric completes £24.5m of non-core sales
FTSE 250-listed REIT LondonMetric Property has sold four offices and two long-income assets in separate transactions for a combined £24.5m.
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Online
WeWork plans to file bankruptcy as early as next week, sources say
WeWork plans to file for bankruptcy as early as next week, according to reports in the US.