Shangri-La at the Shard is one of London’s most hotly anticipated hotel developments, with its location at the top of Western Europe’s tallest building providing guests with panoramic views of the London skyline. However, it appears that guests are getting an eyeful of a very different kind– that of their neighbour’s... Read More
The dire shortage of industrial and warehousing premises within the M27 corridor could soon be over, according to commercial property consultants Lambert Smith Hampton (LSH). There have been no significant speculative developments within Hampshire’s coastal strip since 2009 and LSH says there are currently only two units over... Read More
After increasing interest from international investors Bruntwood has sold Manchester’s 30-storey City Tower to asset manager Schroder for £132m — seven million above the regional landlord’s asking price. The sale of the 615,000 sq ft tower is the biggest office transaction in the region since the Co-op Group's new headquarters... Read More
Pioneering property forecast to become the norm by 2025 A pioneering system that uses combined solar technology and thermal energy to provide year-round power is being installed in a British commercial property for the first time. Called the Zero Carbon Solution, the system is being fitted to a newly-built office on the Foundry... Read More
Hereford’s trouble-hit Maylord shopping centre has a new owner with promises of “significant developments” over the next few months. Lunar Holdings Sarl — a joint venture between real estate investors Apollo Global Management and M&M Asset Management — has confirmed its takeover of the 50-shop centre, but refused to... Read More
The Luxembourg-based global investment group Flacks has paid £1m for a neglected German airfield it hopes to transform into an “emergency airport” and cargo hub. Cottbus Drewitz airfield is 50 miles east of Berlin and, because of its remote location, has no restrictions on round-the-clock landings and take-offs. Used as a training... Read More
Czech commercial property investment increased by 4 per cent per year to €268m in the first quarter of the year, according to property consulting company DTZ. Full-year investments are projected to exceed €1bn. Investment in office space made up almost half of the deals (49 per cent), retail deals came in next at 27 per cent, and... Read More
Prologis and the Emirati marine terminal and port operator DP World have teamed up to speculatively build a distribution centre at London Gateway Logistics Park. The fifty-fifty 316,000sq ft joint venture is being designed to offer the maximum flexibility within its 15-metre height. Ground work on the project — the size of four... Read More
Environmental issues have become increasingly important in new commercial property builds, with initiatives such as rainwater recycling and natural air conditioning lowering utilities costs for tenants whilst simultaneously contributing towards the UK’s eco targets. However, a new store opening by US clothing retailer J. Crew has proven... Read More
Commercial mortgage bond investors, tired of waiting for the European market to recover after the financial crisis, have started lending directly Bloomberg reports. The 2007 European real estate crash triggered a number of defaults that had a severe impact on the region's commercial mortgage-backed securities market. Annual sales of... Read More
Three Irish shopping centres are about to go up for sale as the market heats-up. Lloyds is preparing to sell the Douglas Court shopping centre in Cork, the Bloomfield shopping centre in Dun Laoghaire, and part of the Eyre Square centre in Galway. Lloyds was responsible for financing the properties during the boom but is now seeking to... Read More
Discount brands are continuing to enjoy a boom in sales despite the end of the recession bringing with it increases in disposable income and a drop in inflation. This has seen brands such as Aldi, Lidl and Poundland invest in new store openings throughout the UK, with the latter particularly benefiting from an expansion in its commercial... Read More
A Midland’s property and development company has reported a record start to 2014 with lettings and commercial take-up back to pre-recessions levels. So far this year Birmingham-based Calthorpe Estates has secured more new tenants than any first quarter for more than five years. By the end of March its 2014 deals had already passed... Read More
Although the recession is over and consumers are able to spend more freely as a result of improvements in wage growth, the pub industry continues to struggle with closures reported every week. This has meant that vigilance is required regarding new openings and careful property portfolio management – something proven by the third quarter... Read More
With reports of demand beginning to outstrip supply in some key markets, the absence of commercial development during the recession may hinder the recovery. However, a new report from asset design and consultancy firm Arcadis has highlighted the very real impact that a lack of investment could have upon the wider economy, and how investment... Read More
During the recession, high street vacancy rates soared as even established retailers struggled to survive. This situation was partially mitigated by a wave of betting shops, pawnbrokers and charity shops occupying empty properties. But their expansion did not please everyone. Now, retailers in Lytham, Lancashire have called on their... Read More
IM Properties has sold a number of its German logistics properties to the multi-let investment management company Valad Europe for more than £21m. The sale follows the company’s recent unloading of a near-100,000sq metre Munich logistics facility to car maker BMW for £36m. All four properties in the latest deal are let to the... Read More
British Land and Stanhope have officially cut the tape on the Old Market Shopping Centre in Hereford following a £90 million investment to improve local services. The open air shopping complex was developed by Stanhope but, as all funding was provided by British Land, the latter will now retain control of the development as a whole and will... Read More
Britain’s first dedicated state-of-the-art research and production factory is to be constructed at Sheffield Business Park after winning city council approval. Factory 2050 is being built by the University of Sheffield (pictured) near its original Advanced Manufacturing Research Centre on a part the Catcliffe site already dedicated... Read More
While the London commercial property market may be in robust health, until the beginning of this year the regional markets had struggled to recover. However, a new survey conducted by RICS indicates that the West Midlands is in the midst of a resurgence which could potentially see rents increase to pre-recession levels – something that is... Read More
The supermarket sector has become one of the most competitive in retail of late, largely due to the influx of discount brands eating into the market share of Britain’s traditional “Big Four” chains. Yet while analysts were concerned that this would lead to falling results for the Big Four, Sainsbury’s has defied expectations by... Read More
Commercial space in London is in high demand, with investors from both the UK and overseas keen to snap up properties in one of Europe’s key business capitals. However, while burgeoning skyscrapers make the headlines, there remains a relatively untapped stock of space begging for attention – so long as windows are not a requirement for... Read More
