The issue of business rates has been one of the most controversial topics within the commercial property market for the past several years with retailers, in particular, arguing that the rising cost of non-domestic rates has been one of the key reasons for the high street’s decline. Despite Chancellor George Osborne taking steps to... Read More
Retailers are becoming increasingly eager to take up prime units in the nation’s most popular shopping centres as a rise in household disposable income allows consumers to spend in earnest once more. This has proven extremely useful for the St Enoch shopping centre in Glasgow, which has this week completed a number of lease renewals and... Read More
A Tyneside laboratory site — opened in 1970 by technology minister Tony Benn — is being evaluated for sale by the engineering and electronics giant Siemens. The 25.3-acre plot, off Victoria Road West, Hebburn, was once occupied by a huge grey cube which housed Reyrolle’s Henry William Clothier laboratory. Heralded as the premier... Read More
The value of commercial property deals in Melbourne has increased by 55 per cent in Q1 of 2014 and doubled in the past 12 months. Research conducted by Knight Frank indicates that property with a value of over $1.8 billion changed hands during this period, compared with $1.8 billion in the first quarter of 2013. The total value of... Read More
Liverpool and Manchester-based developer Urban Splash has confirmed a four-way £135m debt refinancing deal with the Royal Bank of Scotland, the Co-operative Bank, HSBC and Blackstone. The financial package is a joint venture agreement with London property group Pears and initially covers Urban Splash’s Braun portfolio of 35... Read More
Scottish businesses which survived the recession are now going to the wall in greater numbers than anywhere else in Britain. In the first three months of this year the number of corporate insolvencies north of the border was up more than 70 per cent on the same period last year. The figures, published yesterday by the Accountant in... Read More
A novel retail outlet is coming to the Millbrook area of Southampton. Known as the Boutique Box Warehouse, the site will be comprised of more 100 shipping containers arranged within a 20,000 sq ft warehouse to create an indoor market-style retail space. The entrepreneurs, trading under the name Macerich UK Ltd, claim that there will be space... Read More
Consumer confidence is expected to rise sharply this summer, with the steady improvement in both price inflation of goods and wage growth putting more money in household budget pots. Yet these factors have already begun to play an instrumental role in the recovery of the retail and hospitality industries, as recent figures released by the... Read More
The traditional UK supermarket sector has been facing stiff competition recently, with an influx of discount brands such as Aldi and Lidl taking market share and sales from the “Big Four”. This has meant that, in order to effectively compete, all brands have had to examine their pricing options, with a flurry of discounts and promotions... Read More
Chinese car manufacturer Changan has confirmed it is searching for a new site for its UK research and development operation. In 2010 Changan established a base in Nottingham Science Park but now wants to move closer to the West Midland’s cluster of automotive firms. Changan Automobile — which is among the top 15 of vehicle... Read More
Liverpool City Council is committing £8.2m — almost half its regional Growing Places Fund — to kick-start nine stalled private development projects across Merseyside. The nine projects are situated in the centre of Liverpool, and at Halton, Knowsley and the Wirral. All have either been granted planning consent or have stalled... Read More
Now that real wage growth has finally taken steps to combat low household disposable income, retail chains are increasingly deciding to invest in growth so as not to miss the predicted boom in consumer spending. This has been especially true of high street food and drinks retailers, which are channelling a lot of funds into expanding their... Read More
A Manchester-based developer has opened a London office in a bid to generate interest and attract more investors to the region. Real Estate Developments (RED) will also use its new branch to target deals in the capital. “A lot of the bigger funding comes out of London and they're happy to look at Manchester as a development... Read More
Record price sought for 8 Canada Square Canary Wharf’s HSBC building is on the market for offers over £1.1 billion. If the price is realised it will be a British record for a single asset, reflecting the current strength of the London market. The 44-storey tower, also known as 8 Canada Square, is currently owned by South Korean... Read More
For some time there has been concern in some quarters about the number of bookmakers taking-up high street properties. In response to this the government has announced that local authorities will be given powers to veto the opening of betting shops where they feel that ‘clustering’ is taking place. The Association of British... Read More
A consortium of private investors has paid more than a quarter-of-a-million pounds for the Art Deco former Dock Office building at Salford Quays. The iconic Grade II listed building was once part of a debt-ridden property portfolio sold on by Lloyds TSB. LiveMan Properties, a special purpose vehicle set up solely for the acquisition,... Read More
Retailers struggled greatly during the recession, and unlike businesses in other industries have not seen a huge pick-up in sales since recovery began to take hold. However, a survey by the Confederation of British Industry (CBI) has indicated that the slow growth in sales has resulted in a huge boost to the confidence of retailers, with... Read More
Commercial real estate is increasingly regaining its popularity among investors. These investors have been able to create wealth by finding quality properties where they can generate a high level of returns. For those who are new to commercial real estate investment, the key to finding the best opportunities is performing a thorough... Read More
The US industrial real estate market continued its progress in the first three months of 2014. Rising rental rates, declining vacancies and robust absorption were all noted, according to Cushman & Wakefield's (C&W) newly-released research findings. Supply was down in several markets, which was a factor in the leasing slowdown in Q1,... Read More
Town and city centres around the country have begun to embrace the opportunities afforded by a rise in both consumer confidence and household disposable income brought about by improvements in the economy, with many undergoing extensive commercial property renovation programmes in order to lift footfall. This has seen many implement schemes... Read More
Prologis is to complete its existing Heathrow industrial park with the speculative build of two logistics facilities totalling almost 140,000sq ft. Prologis Park Heathrow, close to Junction 4 of the M4 motorway, is just over a mile from the main airport and was designed as a three-stage project with a completed floor space of 436,000sq... Read More
Commercial property buyers could be losing thousands of pounds in capital allowances and need to take a more pro-active approach when acquiring plant and machinery with buildings. The warning comes after this month’s Inland Revenue reform of the pooling allowance rules. Under the new tax regulations capital allowances are only... Read More
