Cost of space in London hubs rivals Oxford Street As economic recovery continues to build, consumer shopping habits are becoming more and more difficult to predict for the nation’s retailers. As well as increasingly searching for discounts, consumers are placing a greater emphasis on convenience and click and collect initiatives –... Read More
A North-East developer has completed the second of a pair of business parks delayed by the credit crunch. In February the Hellens Group — which specialises in regenerating brownfield sites — finished the second phase of its Teal Farm Business Park near Sunderland. The initial work was completed in 2008 and let during the... Read More
According to the Office for National Statistics (ONS) the number of people in employment rose by 254,000 to 30.6 million between March and May, marking a new record and hinting that further improvements are on the horizon. In addition, the unemployment rate fell to 6.5 per cent thanks to a 121,000 person reduction in those claiming... Read More
Electronic giant Apple has become the first company in Europe to trademark the layout of its iconic stores. The ruling is an extension of an intellectual property claim it secured in the United States back in 2010. Apple - which has 37 stores in the UK, and others throughout France, Germany, Italy, Spain, Sweden and the Netherlands —... Read More
Berkshire planners are considering a scheme to transform an empty 1970s office block into the mirror image of a 19th century upstate New York skyscraper. The project, proposed by the building’s joint venture owners Brockton Capital and Landid Property, would add four more floors to Reading’s 11-storey Thames Tower (above) to create... Read More
The largest undercover shopping centre in Scotland is up for sale with a £175m price tag. Delancey, the owners of EK East Kilbride, is also shedding a second mall in Wolverhampton for £50m. Delancey bought both shopping centres — in a joint venture with RBS together with other UK assets in December, 2010, as part of the Blade... Read More
Retail sales have been steadily growing since the end of 2013 with uplift in consumer confidence together with a hike in real wages creating a more positive environment for retailers. However, the latest figures from the British Retail Consortium (BRC) and KPMG Retail Monitor show that this upward momentum somewhat faltered in June, with... Read More
Planners behind the £1bn reshaping of Dundee’s Waterfront have released a million square feet of land in a bid to attract new developments and thousands of jobs to the city. A second half-a-million square foot package will follow in 2016. The freeing up of the prime development sites, some ahead of schedule, comes after a vote of... Read More
The cost of car parking, urban congestion, and the growing number of small town centre offices being converted to residential use is driving many companies to consider relocating to more rural premises, according to one property consultant. It’s a nationwide trend being reported by almost every commercial agent, but one southern... Read More
Urban Splash, and partner the Pears Group, have sold the “iconic” Fort Dunlop development in a deal which underlines the opportunities for investors in the regional markets. The 375,000 sq ft property, which lies close to the Spaghetti Junction, comprises office space, a hotel and a number of ground floor retail units; all of which... Read More
As the UK recovery continues to gather momentum, confidence amongst businesses has reached a level not seen since before the recession hit in 2008. This has led to huge investment into almost every sector of the economy, with two different studies demonstrating how this upbeat attitude towards growth has benefited the country as a... Read More
A Scottish city’s decision to give away common good land to a hotel developer could cost it millions in lost revenue, experts have warned. Earlier this year proposals for a Picardy Place hotel showed that it included a large chunk of Edinburgh’s common good land - land gifted to the Scottish capital under a 1491 Act. As part of... Read More
As business expansion continues to eat into the commercial property supply of many towns and cities throughout the UK, projects designed to tackle this issue and fulfil growing demand are becoming increasingly prevalent. Stoke-on-Trent is just one example of this boom in commercial development within regional areas, with the £40 million... Read More
During the Olympic Games, an influx of visitors to the UK provided a welcome boost for retail businesses, with tourism spending for 2012 rocketing as a result. In part, this was due to the relaxation of Sunday trading laws, allowing larger stores to open for longer in a bid to capitalise on the higher consumer spending potential triggered by... Read More
British businesses have in recent years enjoyed a boom in interest from international investors, with many having been taken over by multinationals based in the Middle East and Far East due to their market penetration in growing economies. Now Pizza Express bosses have confirmed that the restaurant chain is being bought out by Eastern... Read More
Britain’s third biggest hotel chain is hoping to benefit from Scotland’s tourism boom by building ten new hotels north of the border. The £75m expansion is being backed by international hedge fund investment. Travelodge — which already has nearly 38,000 budget hotel rooms across Britain — believes that by 2030 the low-cost... Read More
The recession may be over but many property companies are still living through its vapour trail of late payments and bad debts, claims one of the UK’s leading corporate recovery lawyers. According to Eleanor Temple, a barrister at Kings Chambers in Leeds, an increase in the number of property companies facing insolvency is leading to a... Read More
High Street retailers may be enjoying a relatively profitable period at present due to the upturn in the economy, but this does not necessarily mean that their future successes are guaranteed. Factors such as changing consumer spending habits, high levels of competition and uncertainties over interest rates are all taking their toll on... Read More
Bayleys Research says that a healthy level of investor interest in New Zealand has pushed commercial property yields below the 5% mark in Queenstown. The latest report on the district's property market notes that the CBD in general is sought after, but there are definitely parts that are considered more attarctive than others by... Read More
First it was the world’s tallest building, then a hotel shaped like a sail. Now, even before work has finished on its palm tree shaped archipelago of luxury properties, Dubai has unveiled plans for its biggest project yet - the world’s largest shopping centre inside a “climate-controlled city”. Heralded as the first... Read More
In the first six months of 2014, a total of €1.37 billion has been spent in the Irish commercial property market. This is more than during the same period in 2006 at the height of the boom when the figure stood at €1.09 billion. During the past six months, international real estate firms have shown a strong level of interest in... Read More
BNP Paribas Real Estate - the property service and management division of the French bank - has won a contract to refurbish and let office space in the heart of Newcastle’s historic Grainger Town. The Grey Street property, which has a listed sandstone façade, is owned by Norham House Estates and is part-occupied by the headquarters... Read More
