Ten months after announcing its partnership with the American hospitality chain Marriott International, the Swedish furniture giant Ikea has named the British location for its first joint venture budget hotel. Branded as Moxy Hotels, the partnership’s first UK low-cost hotel will be close to Heathrow Airport. Inter Hospitality... Read More
The controversial redevelopment of London’s Smithfield Market is not warranted by a shortage of office space in the capital, a public inquiry has been told. The multi-million pound redevelopment of the Victorian market hall has divided opinion, both in the architectural profession and among heritage groups. On one side of the... Read More
A consortium of Chinese factory owners has pulled off a multi-million pound groundbreaking deal — thought to be the first outside London — by buying an historic listed building opposite Birmingham’s city council house. The Grade II-listed office building at 130 Colmore Row was acquired, with the assistance of former Wragge &... Read More
Investing in commercial property this year is likely to make you as much money as putting your money in equities, claims the manager of one of Britain’s top-rated asset funds. The reason most investors underestimate property funds is because they do not properly account for rental income, says Simon Evan-Cook, who co-manages the £254m,... Read More
For many towns, the presence of a local market is a major draw, with a variety of unique and specialist retailers able to showcase their goods in a busy location. However, changes to this setting can be the cause of controversy – as has been the case with Eastgate Market in Gloucester. The current market is located on the bottom... Read More
The recession brought about many changes in employment patterns. However, one factor which experts now believe cannot be blamed upon the financial crisis is the growing number of British workers choosing to take on a “mini job” rather than committing to full time employment. Will a structural shift in employment norms lead to a... Read More
Ireland’s newly-formed Hibernia REIT has made its first investment by acquiring a €67m portfolio of property loans from Ulster Bank. The asset collection, which is held by RBS Capital Resolution, includes a mix of commercial and residential properties as well as several undeveloped plots of land. The transaction is the first for the... Read More
With internet shopping increasingly gaining in popularity, the postal service has become hugely important in the UK’s retail industry. In order to keep up with high levels of demand, a number of independent companies are being forced to expand rapidly in order to capitalise on the growing trend. This week, TNT Post has announced it will... Read More
Chinamex — one of China’s largest overseas trading companies — has appointed London-based property agents Cluttons as the leasing agent for its new multi-million dollar Dragon City retail project in Bahrain. Dragon City is a mirror of the Dubai Dragon Mart A mirror of the Dubai Dragon Mart in the United Arab Emirates, the $3.2bn... Read More
Cardiff planners are considering an application to build a 135,000sq ft office development as the first phase of an ambitious mixed use regeneration project for the city’s Capital Square. The £30m building — to be called One Capital Square — would be the biggest ever speculative office development in the Welsh capital. If... Read More
An IPD/ Levy LLP study of commercial property performance across London has shown that fringe locations are outperforming the traditional markets in many cases. While the overseas funds, which are currently responsible for much of the investment in London, may favour ‘trophy’ locations like the West End and the City, the study... Read More
Earlier this week, it was reported that Realis Estates had issued a statement reiterating their commitment to Stoke-on-Trent’s City Sentral shopping centre development in response to fears over its future. The development of the city centre retail scheme, along with that of a new central business district and bus station, is designed to... Read More
Mergers have proven extremely profitable for a number of companies in recent years, with the lower consumer spending throughout the financial crisis prompting many to combine forces in order to gain access to a wider network of consumers and revenues. One of the most high profile has been the merge of Orange and T-Mobile in 2010 to create... Read More
With much of Europe enjoying a revival the real estate market, Cyprus continues to decline with January property sales plunging by almost a quarter, according to the island’s Department of Lands and Surveys. With thousands of unsold properties, record levels of unemployment, lack of liquidity and fears over the state of the economy,... Read More
The Crossrail factor is boosting property demand in the areas set to benefit, with east London in particular reaping the rewards as investors seek to get into the game ahead of the improved transport link’s arrival. Fund management firm Clearbell Capital LLP is one of the latest companies to move into the area, purchasing the three... Read More
Small companies can often struggle to make ends meet, with business rates and rising energy bills piling pressure on already overstretched finances. However, a piece of legislation due to come in on the 6th of April may add to the woes and, according to tax experts, could see some SMEs forced to throw in the towel completely. Under... Read More
Jones Lang LaSalle has launched its second real estate fund aimed at the Indian commercial property market and is hoping to attract at least Rs 600 crore from investors. The fund, to be managed by the property consultancy’s investment arm Segregated Funds Group, hopes to raise the majority of its cash on the domestic market before... Read More
A Devon property manager has admitted a three-year fraud which netted him almost half-a-million pounds. Magistrates at Plymouth heard how management agent Mark Postle-Hacon had systematically removed more than £400,000 from his clients bank accounts. The 41-year-old businessman admitted a single charge of running his company, PHC Management... Read More
In many ways they are the perfect supermarket. There are no queues at the checkouts. There is no Muzak. And there are no customers. The only people you’ll see are “pickers” selecting groceries for on-line orders. These are Britain’s growing network of “dark supermarkets” and the statistics for their existence are hard to... Read More
Poundland — Europe's largest single-price discount retailer — has unveiled plans for a £750m flotation on the London Stock Exchange. It is the first of seven other high street and internet companies expected to go public this year. The Poundland chain, which sells more than 3,000 branded and look-a-like items through its 500... Read More
Realis Estates has offered reassurances that the City Sentral scheme will go ahead following reports that the developer is heavily in debt. The multi million pound retail and leisure development was due to open in 2015 but a lack of progress has led to fears that the scheme has stalled. News that the city’s new central business... Read More
And Selfridges’ Mr Men pop up is back too Amid the excitement of London Fashion Week, designers are finding that interest is no longer simply focused on the catwalk. Instead, increasing numbers are flocking to a wave of pop up shops opening in surrounding areas of London, with everything from design to vintage catered for by this recent... Read More
