A North-East company charged with reinvigorating a county’s business community and economy has launched a survey to determine the region’s future commercial property needs. Wholly-owned by Northumberland County Council, with a mixed public-private board, Arch: The Northumberland Development Company wants to hear from both start-ups... Read More
The faltering recovery in the holiday market is forcing one Irish bank to speed up the disposal of its hotel assets — with other lenders almost certain to follow. Ulster Bank has confirmed the hiring of agents CBRE and professional services company KPMG to oversee the sale of a portfolio of eight hotel and two hostels. The package... Read More
Property developer and investor MEPC has completed a £430m deal to sell three of its UK business parks to a joint fund controlled by Oaktree Capital Management and Patrizia Immobilien. The three sites now in joint US and German hands are the 1.2m sq ft Birchwood Business Park, near Warrington, Chineham Park in Basingstoke and... Read More
During the recession, bookmakers were one of the few businesses taking-up space on the high street. However, as the economic recovery continues to gather pace, local authorities have begun to wage war on gambling shops, meaning increasing numbers of bookmakers have had to turn their attentions to their online offering in order to continue... Read More
Amazon continues to be one of the major powerhouses of internet retailing, with millions of consumers placing orders worldwide each year. Yet in order to remain ahead of the increasingly strong competition, the online giant has recognised the need to invest beginning with a proposed expansion of its Staffordshire distribution... Read More
A joint venture development could see Bath getting its first major office development in more than two decades. It’s hoped the scheme will end the run of expanding businesses looking beyond the city for extra space while others are forced to scatter staff across a number of separate buildings. Bath and North East Somerset Council is... Read More
A report in today’s Evening Standard suggests that Ping An, the Chinese owner of the landmark Lloyd’s Building, is seeking to remove its eponymous tenant by 2019. City Spy cites unnamed sources who believe that Ping An, who paid £260m for the Lloyd’s Building little more than twelve months ago, is keen to redevelop the property... Read More
Approval by Salford planners has allowed an immediate start on the £10m modernisation of the city’s canal side Exchange Quay office complex. First unveiled by Hunter Real Estate Investment Managers in April, the Salford Quays site is made up of six office buildings ranging from 26,151sq ft to 116,684sq ft. In addition to... Read More
Land Securities has sold its 50 per cent stake in Bristol’s Cabot Circus shopping centre to Axa Real Estate in a £267.8 million deal, which also includes Quakers Friars and a number of surrounding city centre shops. Land Securities developed Cabot Circus in a joint venture with Hammerson PLC, with the completed centre opening in... Read More
Birmingham has seen tourism to the city rise significantly, with visitor numbers reaching 34 million in the past year – boosting its economy by more than £5 billion. According to data released by the Regional Observatory, Global Tourism Solutions and the research arm of Marketing Birmingham, tourists are choosing to spend increasing... Read More
As the debate over how to best increase airport capacity in the UK drags on, local authorities and businesses surrounding Gatwick are keen to promote the merits of their case. Pointing to the benefits of the “Gatwick Diamond” – home to over 38,000 businesses – they argue that a second runway at Gatwick Airport is the best... Read More
Britain’s second largest supermarket chain has confirmed it is going ahead with plans to build an information technology centre at Ansty Park near Coventry. The retailer, which has more than 1,200 outlets nationwide, is negotiating the purchase of land at the 100-acre West Midlands innovation complex before building two office blocks... Read More
Since the end of the recession, the majority of sectors within the British economy have enjoyed a significant upturn in fortune as consumers once more begin to accumulate disposable income. However, within the pubs sector, the story remains somewhat grim with the Campaign for Real Ale’s latest data showing that an average of 31 pubs per... Read More
Defence Infrastructure Organisation (DIO)—which owns and manages the British military infrastructure —has confirmed it will consider offers for the Old War Office in London’s Whitehall later this month. Completed in 1906 and located on Horse Guards Avenue the neo-Baroque building was, for 58 years, the home of the Government... Read More
The issue of business rates remains one of the most contentious within the British economy, with retailers in particular calling for the Government to address problems within the current system as a matter of urgency. Although steps such as capping the Retail Price Index (RPI) increase to 2 per cent for the next two years and extending... Read More
According to a new study by accountancy firm BDO, the number of firms planning to take on new staff has grown at the fastest pace for 16 years, indicating that British businesses are now confident that the recovery is well under way. The BDO Employment Index shows that British firms’ intention to take on new workers in the coming... Read More
Independence jitters are being blamed for a dramatic fall in the value of Scottish commercial property deals. Despite an increase in the number of transactions the country’s second quarter figures fell by almost £250m. Aberdeen — where property sales rose by £34m to £165m in the three months to the end of June — was the only... Read More
With returns from retail assets hitting a five year high, a number of high-profile deals have recently been completed. One of the latest is the acquisition of Bramley Shopping Centre by Rockspring Property Investment Managers. The west Leeds shopping centre was placed on the market by NewRiver Retail, with the resulting deal netting... Read More
The recession remains fresh in the minds of high street retailers, and the recent stagnation of sales has proved worrying for many. However, July saw a comfortable bounce back with the BDO’s monthly High Street Sales Tracker recording a 1.7 per cent like for like sales lift when compared to the previous year. Warm weather and a... Read More
The Church of England has sold a majority stake in its 400-year-old Pollen Estate in the heart of London’s Mayfair to a partnership led by the Crown Estate. Financed by Norway’s state wealth fund, the Crown Estate’s £381m offer was enough to see off a range of “impressive” international buyers including banks, pension funds... Read More
Allied London says it has started working with a team of “master planners and heritage consultants” to determine the future of the former ITV Granada studios site in Manchester. Speaking at a public meeting to outline its plans for the 13-acre lot — which stretches from the city’s Quay Street to the Museum of Science and... Read More
Twenty English councils have been selected to take part the second phase of a programme to stimulate growth by releasing surplus Government land and property. Managed jointly by The Cabinet Office and the Local Government Association (LGA), the One Public Estate scheme is aimed at boosting local economies by encouraging councils to... Read More
