Internet giant Google — better known for buying out internet rivals and software companies — has now turned its attention to commercial property. In the second quarter of this year alone it spent $2.6bn (£15.4bn) on capital expenditure. Although the multinational corporation owns land and buildings on six of the seven continents,... Read More
As consumers continue to spend following several years of recession, retailers and groups within the industry are seeking ways in which to capitalise on this upturn by boosting footfall levels and dwell times. This could see shops and bars in Canary Wharf open round the clock next year as a result of extended tube hours due to be rolled out... Read More
The number of applications for new supermarket space in the UK has now fallen to the lowest level seen since the start of the financial crisis, with only 15.22 million sq ft of shop space currently proposed by the grocery market. According to property agent CBRE, this is the lowest amount seen since September 2008, indicating that the... Read More
With less than two months before the arrival of its first tenants, a Scottish office development has been rebranded as Rutherglen Links Business Park. After three years under the “working title” of Rutherglen Low Carbon Zone the new name for the 12-acre Clyde Gateway scheme was chosen from a shortlist offered to local authorities,... Read More
The Co-operative has announced the sale of its farming business to the Wellcome Trust in a deal worth £249 million. In total, the Wellcome Trust has gained 39,553 acres of land containing 15 farms, 27 commercial properties and more than 100 residential properties from which a high rental income can be claimed. Upon agreeing a deal,... Read More
With the manufacturing industry being one of the key reasons for economic recovery within the UK, forecasts by economists that growth is due to stagnate in the coming months is somewhat worrying to say the least. Unfortunately, it appears that this slowdown is already beginning to make itself felt with Birmingham based engineering group IMI... Read More
A property company which owns and manages more than six-million square feet of business space across the UK has teamed up with a Midlands’ university to develop a new generation of eco-friendly office buildings. The collaboration — between family-owned Bruntwood and the University of Salford — will explore how future commercial... Read More
Commercial property transactions in the North West of England peaked at more than a billion-pounds in the second quarter of 2014 — an increase of almost 300 per cent on the same period last year. Property consultancy Lambert Smith Hampton’s (LSH) UK Investment Transactions also reveals that the 12 months to the end of June recorded... Read More
Most California commercial markets are expected to increase development through 2017, due to employment growth and goods making their way through the state’s ports. This positive outlook for the state is based on the recently-released Allen Matkins/UCLA Anderson Forecast Commercial Real Estate Survey, which is a leading indicator of future... Read More
Ireland’s National Asset Management Agency (NAMA) has put a €110m (£87m) price tag on a package of five out-of-town shopping centres it is offering for sale. The retail parks portfolio is the first to be sold as a single lot by the agency and could produce almost €10m (£7.9m) for its new owner. Four of the sites are in Northern... Read More
An unexpected rise in demand for offices in the Indian city of Bangalore has resulted in a flurry of movement on building sites as contractors are working hard to complete delayed commercial projects. Several funds are actively looking to invest in India and business confidence is expected to improve, which is expected to drive demand... Read More
Working is about to start on Gateshead’s first speculative light industrial estate for more than six years thanks to European and local cash incentives of almost four-million pounds. The 6.5-acre park is being built next to the A1 (M) at Birtley by brownfield reclamation specialists, Ravensworth Property Developments. Portobello... Read More
Hibernia REIT’s chief executive Kevin Nowlan confirmed at the company’s general meeting that the firm has begun discussions with domestic and international lenders about obtaining funding for Irish commercial property. Since €372m in equity has been raised to date, the company can legally borrow up to the same amount. Market... Read More
Hungary saw an impressive 35 per cent increase in commercial real estate investment in the first half of this year, according to research published by property consulting firm CBRE. Both Hungary and the Czech Republic were able to benefit from the challenge that a number of investors had in finding the type of asset they were looking... Read More
As consumer confidence continues to grow, shopping centre owners are benefiting from a boom in spending and an increase in retail tenants looking to expand their store portfolios. This has seen Intu Properties enjoy a successful first half, with revenues and profits surging due to strong investment demand within its prime shopping centre... Read More
Internationally renowned artist Damien Hirst has been given the green light to press ahead with a mixed use development on the outskirts of a Devon town. The outline plan for 750 homes, together with a school, health centre, shops and offices - which has been ongoing for some time - was finally approved by North Devon Council this... Read More
Turning its back on an “overheating” London, business buyout specialist Aurelius has focussed its attention — and its £175m war chest — on potential Scottish targets. The mergers and acquisitions (M&A) company, which was last year named the “German Private Equity Firm of the Year” in the international M&A Awards,... Read More
A 10-month-old Sheffield property company has negotiated a deal for Marks & Spencer which will see the retailer take more than half-a-million square feet of space at the city’s International Rail Freight Terminal. The agreement is the firm’s fifth high-profile deal in as many months. Acting for landlords CBRE Global Investors,... Read More
Inward investment in Wales is approaching a 25-year high with 79 foreign companies either moving into the country last year or expanding an established foothold, giving a boost to the commercial property market. The UK Trade and Investment (UKTI) figures came within hours of China’s biggest television manufacturer announcing it was... Read More
Retail schemes within train stations have become immensely popular destinations for retailers seeking to expand as the combination of a captive market and constantly renewable consumer base has continued to prove attractive, especially in terms of increased footfall levels. This has seen Network Rail invest heavily into creating... Read More
Warwick Business School is to establish an outpost at The Shard it has been confirmed. The educational institution has leased the 17th floor of the Stirling Prize shortlisted tower and will utilise the new base as a “campus in the sky” for its MSc Human Resource Management & Employment Relations course. The 12,150 sq ft floor... Read More
After 18 months of arguments and a three-week planning inquiry, the Secretary of State has finally given the green light to a £50m retail and leisure development in Northamptonshire. Allowing work to start on the Rushden complex, the Minister ruled the scheme would not only regenerate the local area but would also enhance the... Read More
