As the economy continues to improve and consumers begin to spend on luxuries once more, the commercial property sector has seen a rise in leisure and retail developments and refurbishments. Coventry’s Skydome leisure centre scheme is the latest to gain investment for an improvement programme, with owner Mansford pledging £2 million... Read More
U.S. commercial real estate services provider, Cassidy Turley, reports that demand for office space in that country rose sharply in the second quarter of this year. It also stated that development of new office buildings is "accelerating." U.S. office markets absorbed 15.1 million sq ft of office space in the quarter, up 41 per cent... Read More
Retail acquisitions have risen hugely in recent months as developers seek to cash in on the improving consumer climate, with a number of high profile deals being completed in regional areas throughout the UK. This week, London based property firm Clearbell Capital has confirmed its purchase of The Gates shopping centre in Durham in a deal... Read More
A company owned by one of Northern Ireland’s highest profile property developers has posted a £143m loss. Belfast Offices Properties blames its disastrous 2013 returns on a write-down in the value of its assets. Paddy McKillenco-owns the company with the County Tyrone developer Padraig Drayne and, like the majority of the... Read More
As international retailers continue to flock to London, competition for prime locations amongst top designers has begun to reach fever pitch. Now, luxury designer brand Michael Kors is to open a 15,000 sq ft flagship store on Regent Street, which it believes will allow for a greater flexibility when displaying its collection of shoes,... Read More
HULL City Council has unveiled the first £12.7m phase of the largest transformation project in the East Riding city’s history. The improvements — expected to cost at least £25m when complete — are part of the run up to Hull’s reign of UK City of Culture in 2017. Created by the authority’s physical regeneration team in... Read More
During the recession, a number of retail developments were put on the back burner as investment into the sector dropped hugely - fortunately most have now been kick started again as the economy continues to improve. However, few can claim to have faced quite as lengthy delays as the Queens Retail Park in Preston, which this week was granted... Read More
An MP has claimed the go-ahead for an eight-million sq ft Northamptonshire logistics terminal could wipe out unemployment in his constituency. The developers of the DIRFT III site at Daventry say it will create at least 9,000 jobs. After three months of consideration the Secretary of State for Transport has granted a Development... Read More
An historic Birmingham building, used for decades as civic and institutional offices, is being offered for sale as a commercial investment for the first time in its 120 year history. Louisa Ryland House — named after a major benefactor to Birmingham in the 1800s — is owned the city council which, until recently, used the 93,000sq... Read More
Although the economic improvements have led to an increase in consumer spending, retailers are now facing a new problem; increased competition within the retail industry from both discounters and their market rivals. This has seen stores dropping prices in a bid to attract new customers, with the result that shop prices have now fallen at... Read More
Wolverhampton council has launched an international search for developers and investors to regenerate a brace of neglected sites across the West Midlands city. To manage what the authority calls its “soft marketing” exercise it has hired property consultants Bruton Knowles. Feedback from the project will help the council form a... Read More
As the economic recovery continues to take hold throughout Europe, a number of hotly anticipated new retail developments have sprung up to boost local economies. One of the most exciting is the Mall of Scandinavia, in Stockholm, which has been given the title “Home of the Flagships” thanks to the number of international retailers... Read More
Real Estate Investors (REI) has sold its Birmingham headquarters in a £4.6m deal — exactly 30 days after the property group appointed a new head of acquisitions and disposals. Recruited from London’s Square Metre Properties where he was a senior asset manager, Andrew Osborne’s arrival comes at the end of a busy six months of... Read More
Manufacturing has proven to be one of the greatest drivers of growth since the end of the recession, fuelling demand for industrial and warehouse property as firms expand to fulfil domestic and overseas orders. However, according to accountancy and business advisory firm BDO, levels of confidence in the sector dipped for the first time... Read More
The Communities Secretary has rejected plans for a 235,000 sq ft office and retail development at London’s Smithfield Market. The surprise decision came today from Eric Pickles who accused the owners of deliberately neglecting the building which has been described as one of the finest nineteenth-century market halls in Europe. The... Read More
The tightening squeeze on North-East office space is forcing companies to swap their city centre properties for out-of-town locations — a trend which has turned one Tyneside complex into Britain’s fastest growing business park outside London. Already the country’s largest speculative office development outside the capital, with... Read More
Cambridge has emerged as the clear winner in a new survey attempting to find the best long-term property investment location outside London. In its latest Market Differentials report, Legal & General Property’s (LGP) research team attempted to find which areas of the UK were most likely to outperform for a ten year portfolio.... Read More
Although consumer confidence has improved since the recession, a combination of low wage growth and changing spending habits continues to affect high street retailers. This has led to several popular names voicing concerns for the future with upmarket pram and maternity wear chain Mamas & Papas the latest to confirm that it is in talks... Read More
A £700m retail property sell off has allowed two of Northern Ireland’s most prominent businessmen to retain control of their Foyleside and Forestside shopping centres. The disposal was ordered by Ulster Bank which wants to reduce its exposure on loans used to assemble the portfolio. The package of eight shopping centres and parks... Read More
This year, UK sports fans have enjoyed a range of international events such as the World Cup, Wimbledon and the Tour de France; the latter of which has enjoyed a hugely successful opening weekend in Yorkshire. Yet as well as proving enjoyable for cycling fans the opening stage of the Tour de France has given retailers in the region an... Read More
A joint venture company has submitted plans for the first phase development of a multi-million pound logistics and manufacturing hub in Yorkshire. The London-headquartered Evans Property Group and Keyland Developments, a sister company of Yorkshire Water, have joined forces to form Aire Valley Land for an initial project at Temple... Read More
As the economic recovery continues to gather pace, regional areas are beginning to feel the benefits that were for some time limited only to London and the South East. Although wide variations remain, the regional commercial property markets have been showing signs of improvement since the start of 2014. New evidence of this comes in a recent... Read More
