Dublin is among six cities pressing the Irish government to extend its proposed Living City tax relief scheme to include offices as well as retail properties and private homes. Described as a “pilot project for urban regeneration”, the initiative was unveiled last year as part of Ireland’s 2013 Finance Bill. Under the scheme the... Read More
Canada’s fastest growing commercial property service provider has bought one of its UK-based competitors for an undisclosed sum. The acquisition by Avison Young will also see the opening of its first office outside North America. Seen as another milestone in the firm's growth and expansion strategy, Canadian company has for months... Read More
Six years after it was approved by planners work has finally started on a £400m Black Country business and office corridor scheme. Developers claim the Walsall town centre project could eventually create as many as 3,200 new jobs. Based on the town’s Littleton Street and Blue Lane areas, the Gigaport project will see construction... Read More
North American commercial insurance buyers will probably see a modest improvement in market conditions over the remaining months of 2014. This is attributed to a softening in the property insurance line, as well as an easing of the upward pressure on several other lines of business, according to the results of the semi-annual Marketplace... Read More
Small business creation boomed during the recession, as uncertainties over job security prompted many to take the plunge and establish control over their futures. This attitude has continued after the end of the recession and has led to a sharp increase in the number of family run businesses in the UK – something which, according to new... Read More
As the global economy continues to strengthen, businesses and investors are taking notice of overseas opportunities which could prove to be extremely profitable. This has led to a boom in business travel which, paired with an increase in international tourism, has led many countries to seriously consider upgrading their airport... Read More
Nexus — which owns and runs Tyneside’s Metro system — is preparing a £300m bid for Government cash to help it kick-start a 20-year expansion and upgrade programme. It’s expected the project will cost at least £1bn to complete. As well as adding a number of towns and villages to the network, a key strategy of the massive... Read More
With the Bank Holiday upon us, it is generally assumed that consumers will be eagerly stocking up on Easter eggs, toy rabbits and wicker baskets in a bid to celebrate the first big holiday of the year. However, a new survey released by Conlumino and Web Loyalty indicates that this may not necessarily be the case this year. Although... Read More
Greater Manchester Pension Fund — which manages am £11bn pension pot for the 10 local authorities in Greater Manchester— has just spent £10m on buying a run-down shopping centre. The 17-shop precinct at Chorlton, four miles from the city centre, has suffered years of stalled or abandoned redevelopment schemes, the latest in 2012... Read More
UK corporations were shaken last year when a series of reports detailed the lengths some businesses operating within the country were going to in order to avoid paying tax. One of the most highly criticized was coffee chain Starbucks which, despite a growing customer base and rising profits, paid only £8.6 million in UK corporate tax... Read More
Amidst the rise of the discounters in the supermarket sector, the established ‘Big Four’ have seen their profits fall as more and more consumers choose to conserve cash by shopping elsewhere. This has taken an especially strong toll on traditional market leader Tesco, which announced that group trading annual profit has fallen by 6 per... Read More
Earls Court date coincides with shop acquisition plans In the world of fashion, few events attract international interest quite like the annual Victoria’s Secret Fashion Show. Now, London is set to cash in on a piece of the action as the US brand has announced that this year’s most glamorous lingerie show is to take place in... Read More
Iconic British brands play a huge part in the country’s economy, with both domestic customers and visitors from overseas attracted to the established prestige of stores such as Fortnum and Mason, Harrods and Selfridges. The latter has particularly enjoyed the fall-out from popular television show Mr Selfridge this year, with footfall and... Read More
In the retail industry, the trend of late has seen consumers purchase items for the home and DIY materials rather than clothing in a bid to save money whilst still capitalising on promotions brought about by the Government’s Help to Buy campaign for first time homeowners. However, last month fashion sales picked up as a result of the... Read More
A bankruptcy order against property developer Jan Fletcher has been officially dropped after a last minute agreement with Leeds City Council. The former boss of Montpelier Estates Ltd (MEL) had refused to pay £2m in court costs awarded against her company last year. The company was ordered to pay the costs after a nine-week hearing in... Read More
Eastgate Shopping Centre, in the heart of Inverness, has made the decision to further improve facilities by adding a new level to the complex, which will house an eight screen cinema along with several restaurants, it has been announced. At present, the site covers around 320,000 square feet in the city centre, but this could be... Read More
UK commercial property values continued to grow during March according to the latest data. The IPD Monthly Property Index reveals that the steady growth seen earlier in the year was followed by a further rise of 1 per cent. This was the tenth month of consecutive growth during which values have increased by 6.8 per cent. However,... Read More
As cheaper imported and domestic brands become ever more popular, many staples of the British retail scene are finding it difficult to boost sales and raise profits on the high street. This has been especially true of both Marks and Spencer and Debenhams, which have seen rival brands overtaking them in sales and edging in on their market... Read More
Part of Manchester’s landmark Granada TV site — until 2013 the oldest operating purpose-built television studios in the United Kingdom — is to be turned into a new creative media hub. To be called Hello House, developer Allied London says the first of the new facility’s tenants could transfer from the nearby Quay House as early... Read More
A new type of lender is stepping forward in the commercial property market. As the market begins to expand from traditional areas of strength, such as London and Frankfurt, to other markets, non-traditional lenders are offering funding to investors. An example of this new type of player is a venture of Prudential Real Estate Investors... Read More
Police on both sides of the Irish border have confirmed they are investigating “death threats” against a businessman just days before his company was set to acquire a company once owned by the failed property billionaire Seán Quinn. The construction group Lagan, which has its headquarters in Belfast, has confirmed it is pulling... Read More
Sales and profits in the discount sector of the retail industry have skyrocketed in the past few years, largely due to consumers striving to save during the recession. However, at the other end of the scale, luxury goods retailers have enjoyed an impressive return to form of late as inflation has fallen and allowed households to spend on... Read More
