New York property company Tishman Speyer has continued its acquisition of land parcels on Manhattan’s Hudson Yards development site by buying an adjacent plot that could that could see it constructing of one of the tallest buildings in the world. While the developer refused to confirm the amount it paid for its latest collection of... Read More
Several European commercial property markets are reporting rental growth and growing investor appetite across all property sectors in the first quarter of 2014. There has been a strong increase in investment activity across Europe in the past six months, according to the results of CBRE's latest quarterly survey of EMEA prime rents and... Read More
For the first time since the 1950s Cuban revolution foreign individuals and companies will soon be allowed to own and take full control of the country’s commercial property. Under a new law passed by the National Assembly, and due to come into effect by the end of June, foreigners will now be allowed to buy commercial and residential... Read More
Demolition will make way for New Bailey regeneration A law firm which led a campaign to save its offices from destruction — claiming 30 businesses would be disrupted by the eviction — has been forced to move out of its Salford premises. Ralli Solicitors was one of a number of legal and financial companies faced with upheaval when... Read More
Investors searching for rural land may be interested in taking advantage of a unique opportunity – a Lake District mountain is on the market for £1.75m. And if, if that is not enough to tempt potential buyers, the successful bidder will be entitled to use the feudal title of Lord of the Manor of Threlkeld. The 2,850ft Blencathra... Read More
Planners are expected to rubber stamp Manchester’s latest Spinningfields development later this week — despite objections from some of the city’s top lawyers and its premier theatre venue. Barristers with chambers at the Grade II listed Cobden House on Quay Street argue that the new 340,000sq ft tower — known as No 1... Read More
Birmingham, which is already set to benefit from the redevelopment of the Paradise Circus area of the city centre, will see two more major revamps get underway shortly. The first of these involves department store Selfridges, which has revealed plans to upgrade its flagship Bullring store, in a move which is expected to cost around £20... Read More
A Derbyshire developer has been committed to a crown court for sentencing after magistrates found him guilty of illegally destroying a bat roost while converting a loft of a property. The Chesterfield court heard how 55-year-old Hargurdial Singh Rai, and his company ISAR Enterprises Limited, ruined the roost while re-building a loft... Read More
After a year of off-loading a number of its assets, Development Securities has reported an impressive jump in its earnings. Pre-tax profits for the London-based group have risen from £792,000 to £19.5m. Development Securities £30m Hale Barns scheme will include 15 retail units anchored by Booths Supermarket “The strong improvement... Read More
JBG Cos. has entered into a partnership with ICG Properties and Rittenhouse Partners to develop a trophy office building on Washington DC’s lower 16th Street corridor. Recently, representatives from the three companies were joined by city officials for the official groundbreaking ceremony for 900 16th Street, a new Class A building... Read More
CBRE and GVA — two of Birmingham’s highest profile property consultancies — have been appointed as joint agents for the first phase of the city’s ambitious Paradise Circus development. Work is due to start on the massive project later this year which will eventually see 10 new buildings on the 17-acre site between Chamberlain... Read More
American International Group (AIG) is thought to be the first company in the world to offer cyber insurance cover that includes damage to commercial property. In a unique move, the global insurer has also expanded its protection to compensate for security failures and physical injury to staff posed by cyber-attacks. Targeted at... Read More
Blackstone — which already claims to be the world’s biggest property owner — has agreed to pay Ireland’s National Asset Management Agency €1.1bn (£904m) for a loan portfolio once controlled by developer Michael O’Flynn. Known as the Project Tower portfolio — and snapped up at a 38 per cent discount on its par value of... Read More
While demand for high street retail property remains mixed, there is no shortage of interest in retail parks and shopping centres, with British Land the latest to benefit from an upturn in the market. The property investment firm has this week successfully closed two sales this week; the first concerning St James Retail Park in... Read More
Swire Hotels, the Hong Kong-based company, will expand its holdings into the U.S. market with the opening of EAST, Miami at Brickell City Centre. The hotel will be located within its $1.5 billion mixed-use development, which will open its doors to guests next year. Miami has successfully made the switch from a resort market to a... Read More
Only a couple of years ago, industry analysts were predicting a Woolworths-style exit from the retail industry for Home Retail Group’s Argos and Homebase brands. The recession, teamed with poor weather over the summer and a rise in popularity for internet shopping, saw both sales and profits tumble at the two chains, with the result that... Read More
Canary Wharf Group and Land Securities’ 20 Fenchurch Street is now 87 per cent let, the developers have announced. The news comes following yesterday’s confirmation of two new tenants for the 37 storey City tower, popularly known as the Walkie-Talkie. The latest tenants are Law firm DWF, which has taken out a lease on 43,000 sq ft,... Read More
LaSalle International Management has been named as the preferred new owner for Warrington’s Golden Square shopping centre. Confirmation of the £115m deal comes just days after the release of new figures showing industrial property take-up in the Cheshire town is the highest since 1998. The 764,000sq ft town centre retail site is... Read More
Move will be part of wider regeneration scheme Following last week’s announcement that Liverpool FC is set to expand Anfield, comes the news that neighbours Everton are, once again, looking for a site for a new stadium as part of wider regeneration plans for the city. While Liverpool City Council’s cabinet has already given... Read More
Last of the Big Four enters the fray The supermarket sector has become deeply embroiled in a price war, with Asda, Tesco and Sainsbury’s all having revealed intentions to drop prices in the past month in a bid to win back consumers from budget competitors. Now Morrisons has entered the fray, pledging to drop the price by an average of 17... Read More
In what has been described as “a red letter day for Edinburgh“ the city’s ageing St James Centre is to be flattened to make way for a futuristic £850m office and retail complex aimed at stripping Glasgow of its title as Scotland’s shopping capital. Work on demolishing the 45-year-old St James Centre will start early in 2015... Read More
With Sainsbury’s full year results to be released next week, the question on analyst’s lips is whether the brand will have been negatively affected by its first quarterly sales decline in nine years. Although analysts at Deutsche Bank believe the retailer will have fared relatively well against rivals in the mid-priced supermarket sector,... Read More
