All Offices articles – Page 16
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Insight
CapitalRise’s Uma Rajah on why prime central London market is so resilient
As English writer Samuel Johnson so aptly put it in 1777: “When a man is tired of London, he is tired of life.”
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News
Brookfield working up plans for new City skyscraper at 99 Bishopsgate site
Brookfield Properties is working up plans to replace its 99 Bishopsgate office tower in the City of London with a new 54-storey skyscraper.
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News
Co-op’s Manchester HQ sells for third less than original asking price at £140m
The Co-operative Group’s 330,000 sq ft Manchester headquarters has been sold to a Middle Eastern investor for around £140m, around two thirds of its original price.
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News
Hines and Peterson Group secure €80m loan for Dublin Central Plaza fit-out
A joint venture between Hines and Peterson Group has secured an €80m (£69.9m) senior loan from global alternative asset manager Cheyne Capital to fund fit-out works at the mixed-use Central Plaza scheme in Dublin and to refinance an existing facility.
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Online
Picton wins permission for Angel Gate resi conversion in City
Picton has secured planning permission for a residential conversion of it Angel Gate scheme in the City of London under residential permitted development rights.
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News
Essensys posts revenue growth but UK activity remains subdued
Essensys, which provides technology to the flexible workspace industry, has reported a 9% rise in revenue to £25m, mainly driven by new site activity, according to its results for the financial year to the end of July.
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Online
West End prime office rents could hit £300/sq ft by December 2024, claims BNP
BNP Paribas Real Estate has predicted that super prime office rents in London’s West End could hit £300/sq ft by December 2024, as demand continues to outstrip constrained supply.
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Online
CBRE’s Trammell Crow enters European office market with Candour buy
CBRE has expanded its Trammell Crow Company (TCC) real estate development business in the UK with the purchase of office developer Candour.
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News
Q3 commercial investment falls 57% but UK industrial sector shows ‘glimmers of light’
European commercial real estate registered the seventh consecutive quarterly fall in investment in Q3, but the UK industrial sector provided a small bright spot, according to the latest research from MSCI Real Assets.
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News
‘Crunch decision’ on Palace of Westminster restoration to face new government
A fully costed plan for the restoration of the Palace of Westminster will now not take place until 2025 after the general election and work will not start on the beleaguered building until at least 2029.
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News
Canary Wharf owners inject £400m into repositioning plans
The owners of Canary Wharf Group (CWG) have committed £400m of fresh capital to invest in the east London financial district, which has suffered from waning office demand and the loss of key tenants in recent months.
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Online
Fidelity buys WeWork office block in London
Fidelity International has acquired 99 Queen Victoria Street in the City of London from troubled serviced office group WeWork.
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News
Edinburgh’s Argyle House office block sold to PGIM for £38m
PGIM Real Estate has acquired Edinburgh’s landmark Argyle House from global real estate investor Kennedy Wilson in an off-market deal understood to be worth around £38m.
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News
Hines’ Soho Square office scheme rejected in ‘clear signal to investors’
Hines’ plans for a major mixed-use development in London’s Soho have been rejected by Westminster City Council, with the planning committee voting against recommendations for approval.
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News
Central London records highest take-up of the year as active demand grows
Central London office take-up reached 2.2m sq ft at the end of Q3, the highest quarterly take-up of the year so far, while active office demand in central London is surging ahead of the long-term average, according to new research from Savills.
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News
St James’s Place suspends fund amid falling demand for commercial property
Investment manager St James’s Place has suspended dealing in its SJP Property unit trust and deferred redemptions in its Property life and Property pension funds, blaming falling demand for UK commercial property.
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News
Yahoo moves into Dublin’s tallest office tower
Tech giant Yahoo has signed for 35,703 sq ft at Dublin’s tallest office building, Tristan Capital Partners’ The Exo, in the city’s largest office leasing deal in the second half of the year.
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News
CBRE says obsolete office conversions offer lifeline for London residential market
Converting London’s secondhand, vacant office stock could plug an urgent housing shortfall in the capital, creating an estimated 28,000 new homes, CBRE has calculated.
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News
Impact Hub London Euston to open affordable workspace for local community
Social enterprise organisation Impact Hub London has signed a deal with British Land to open its second site in London’s Knowledge Quarter offering affordable workspace for under-served local communities.
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Online
La Française buys Victoria office scheme from Grosvenor in £55m deal
La Française Real Estate Managers has struck a £55m deal to acquire an HQ building in Belgravia, London, from Grosvenor.