As regional activity continues to pick up within the commercial property market, areas which struggled during the recession are beginning to see a stronger level of investment. This has been the case in Yorkshire, where total commercial property investment rose by 56 per cent in the first half when compared to the same period last... Read More
The office vacancy rate in Canada’s capital has hit 10.6 per cent, according to the latest office report released by Colliers International. Vacancy rates were up in all sub-markets in Q2 of this year, except for the fringe core, which includes neighbourhoods like the Byward Market and the Glebe. These were “relatively stable”at... Read More
Sales of Melbourne commercial real estate have nearly doubled over the year to June, according to agents. During the last financial year, more than $6.6 billion in retail, industrial, and office transactions were finalized, compared with $3.77 billion the previous year, according to figures released by Knight Frank. Property... Read More
In line with its philosophy that potential tenants want to see a building before signing up to a lease, developer JR Smart (JRS) has started work on an 85,000sq ft office scheme for the centre of Cardiff. The M2H designed, Number Two Capital Quarter building is one of the biggest speculative developments in the city since the recession... Read More
The Olympic Games in London proved to be hugely beneficial for the capital with higher tourism levels, an increase in business opportunities and higher spending recorded during the event and since. Now, it appears that the Commonwealth Games may have had just as strong an impact on Glasgow, with the host city noting a significant boost in... Read More
A group of US lenders is focusing on loans for smaller properties, which is good news for ‘mom and pop’ type investors. These lenders, including ones controlled by Guggenheim Partners LLC, Sabal Financial Group LLC, and Waterfall Asset Management, have started new programmes with an emphasis on loans of $10 million or less... Read More
The retail market saw returns hit a five-year high during Q2 as consumer spending drives the resurgence in values. Returns jumped from 2.6% during Q1 to 4.3%, according to the latest IPD UK Quarterly Property Index. During the same period, capital values in the sector increased by 2.9%, more than doubling the growth seen in the early part... Read More
The construction and regeneration group Morgan Sindall has said that multi-million pound projects being built by its subsidiary, Muse Developments, are a “major contributor” to the company’s better than expected half year results. Morgan Sindall Group — which operates through five divisions of construction and infrastructure,... Read More
In the past few years, there has been significant investment into transforming Birmingham into a top tourism destination, with advertising campaigns and international marketing strategies playing a central role in this. However, it appears that businesses are also doing their part to welcome foreign visitors to the city, with a Birmingham... Read More
DNA and medical laboratories are leading a surge in North-East industrial property take-up. The first half of 2014 saw more than a million-and-a-quarter sq ft of space contracted — double the figure for the same period last year. According to Simon Haggie, a partner with Knight Frank, the rising logistics and industrial activity... Read More
Global property agents DTZ has been commissioned to find an investment partner for a half-a-million sq ft development in the centre of Manchester. The city council has already signalled its approval for the regeneration of an area adjacent to Manchester’s Oxford Road railway station. DTZ said the site has the potential for up to... Read More
Although consumers are benefiting from shop price deflation, which has seen the prices of everything from clothing to electrical goods plummet, retailers are becoming concerned that further lowering of prices will have a negative impact on their profit margins. And it appears that the end of this competitive pricing campaign is nowhere... Read More
Plans to convert Manchester’s derelict Mayfield train station into a cultural venue have been derailed after the property’s owner announced it wants to use the location for rail improvements, The Business Desk reports. The decision appears to have brought an end to plans from the Mayfield Depot Partnership to transform the property... Read More
Mary Portas’ scheme to reduce retail vacancy rates and breathe life back into town centres is failing, a prominent retail expert claims. Bill Grimsey (pictured, right) says the Government-backed plans for rejuvenation are “over-promising and under-delivering”, and has called on new High Streets minister Penny Mordaunt to address... Read More
Thousands of commercial landlords could be facing a fine unless they upgrade their premises to meet the Government’s proposed Energy Performance Standards, a leading property agent has warned. Consultations are currently underway on regulations outlined in the 2011 Energy Act and which places a duty on the Government to impose... Read More
Council leaders in Darlington believe that a new Education Department building will create jobs and provide a boost to trade in the North East town. It is also hoped it will prove to be the catalyst for further investment and prosperity. Around 400 civil servants are due to move in to the four storey office, being built by local firm... Read More
JD Sports has become the latest business to announce it is moving its entire high-tech production team to Manchester’s pioneering Sharp Project. Completed in 2011, the city council-owned profit-for-purpose development has already attracted some of the UK’s brightest digital entrepreneurs and production companies. Funding for the... Read More
The City of London Corporation has appointed a head of design to ensure the quality of future developments within the Square Mile. Gwyn Richards will report to the new chief planning officer Annie Hampson who recently replaced the outgoing Peter Rees, the man credited with shaping today’s City skyline, Building Design reports... Read More
The initial phase of the Neath Town Centre redevelopment project will begin this month with the demolition of the Welsh town’s Magistrate’s Court. The first phase of the scheme includes a 24,000 sq ft retail unit which will be constructed alongside a 600 space multi-storey car park. Funding for the first phase of the... Read More
The HS2 high speed rail link is one of the most significant infrastructure projects to take place in the UK for some time, and its presence in Birmingham is expected to boost the local economy thanks to a speedier link to London. However, Birmingham is already benefiting from the effects of the rail link thanks to the uptake of Grade A office... Read More
Dalian Wanda Commercial Properties — China's biggest property developer —has announced its intentions to become the world’s largest and most influential real estate company by the end of 2014. The strategy, which many see as a “natural”progression for a company with an appetite for acquiring high-priced Western assets, was... Read More
Although the big four supermarkets have struggled in the face of competition from discounters such as Aldi and Lidl, high end retailers such as Waitrose have been relatively untouched by the phenomenon due to an extremely loyal customer base. However, it appears that this trend may be changing somewhat, as Waitrose has been forced to deliver... Read More
