A Scottish council has agreed a unique £45m deal with Barclays against income from its commercial properties. North Lanarkshire Council will now transfer 975 of its commercial sites to North Lanarkshire Properties LLP, a new limited liability partnership established with the bank. "This is a truly innovative approach to some of the... Read More
Commercial property owners are pressing the Government to bring the law on squatting in line with homes and private premises. Prop-Manage head of management David Robbins It is illegal — under the Legal Aid Sentencing and Punishment of Offenders Act — to take over or squat in residential property. Now three senior local and... Read More
DHL has been confirmed as the first pre-let for Manchester’s £800m Airport City scheme. The delivery group has signed up to take a 37,000 sq ft building at the new world logistics hub. Company chief executive Phil Couchman says that DHL's investment is "reflective of the demand for British-made goods overseas." He went on to say... Read More
The bespoke architectural glass and facade maker glassHUS has reported a near-full order book for the first time in its four-year history, reflecting the upturn in commercial development. A flood of new contracts has allowed the Sunderland-based firm — which produces architectural glass, aluminium facades and curtain walling for... Read More
A new online database of commercial leases is expected to open up the Irish property market and allow businesses to negotiate fairer rents. Modelled on Ireland’s house price register — and containing details of every company lease signed since 2010 — the Commercial Lease Database will, for the first time, give an accurate picture... Read More
The Russian government is considering legislation to restrict purchases of commercial property, land, and homes by foreign investors. President Vladimir Putin (foreground) The new law, which has been proposed by the Economic Development Ministry, would require foreign-controlled companies and individuals to get permission from the... Read More
A North-East based company has completed the sell-off of two of its subsidiaries in one of the region’s biggest property transactions. The Adderstone Group has sold UK Ground Rent Estates Ltd and UK Ground Rent Estates (2) Ltd for £17m in a deal which included an ongoing management contract from the new, undisclosed buyer. Tim... Read More
Hemingway wrote standing at a desk he had designed himself. Leonardo da Vinci, Winston Churchill and Thomas Jefferson are said to have used stand-up desks. Even modern entrepreneurs like HootSuite chief executive, Ryan Holmes, insists the majority of his company executives follow his lead by working standing up. Spending too long sitting... Read More
The Philippines has been left reeling from the impact of Typhoon Haiyan, which was the most powerful storm ever to hit landfall. The deadly typhoon was responsible for the deaths of an estimated 4,000 people, with many more left injured. The impact of the storm on property was devastating with up to half a million homes destroyed... Read More
It’s hoped a multi-million pound shopping development for Croydon will boost the area’s recovery after the devastating 2011 riots. The £1bn Westfield mall — overwhelmingly approved by council planners and backed by London’s Mayor Boris Johnson — will be the chain’s third retail complex in the capital after Stratford and... Read More
The official start of the Christmas shopping season is upon us, with the UK following in the footsteps of the USA by celebrating Black Friday tomorrow. Traditionally, Black Friday occurs the day after Thanksgiving and sees US retailers offering their customers substantial discounts on purchases in a bid to boost profits into December –... Read More
John Lewis has, in recent years, become the undisputed champion in the Christmas retailing stakes, with its Christmas television advert and in-store decorations increasing its customer base exponentially at this time of year. Now, it appears that the department store chain is well on target to top even last year’s bumper Christmas sales... Read More
Manchester is quickly becoming one of the prime business locations in the UK, with the arrival of MediaCityUK and the eagerly anticipated Airport City development attracting small and large businesses alike from sectors such as technology, media and finance. This has seen a rise in demand for hotel rooms, driven by both business travel and... Read More
During the recession, a wealth of brands entering administration provided investment opportunities for existing retail groups willing to take a risk, with several seeing their decisions pay off now as consumer confidence rises. This has been the case for the Edinburgh Woollen Mill Group, which bought fashion brand Peacocks in 2012 and has... Read More
As many as 1,000 new jobs would be created if Amazon is given the go-ahead for a million square foot Merseyside distribution centre. The application, formally lodged by Gallan Stoford on behalf of the internet shopping giant, is for a 22-hectare storage and distribution facility at Stonebridge Cross, Croxteth. The land falls within one... Read More
Ballymena has the highest proportion of empty shops in Northern Ireland, according to a new report. The town's vacancy rate has jumped from 17 per cent to 27 per cent over the past 12 months. The figures have been disputed by the head of the local Chamber of Commerce and the town council. Thomas McKillen, who operates a shoe shop in... Read More
Retailers — who claimed that business rates should be reduced in line with falling rental values — have lost a three-year fight to change Scottish valuation law. Sauchiehall Street, Glasgow The national and local businesses, who each lodged individual appeals against the 2005 revaluation of rental premises on Sauchiehall Street,... Read More
Once famous for showering the surrounding countryside with its “red rain”, Consett Steel Works dominated the landscape with the glow from its furnaces visible for more than 20 miles. Now a multi-million pound scheme has transformed the site into one of the North-East’s most successful business developments. Tony Cragg's Terris... Read More
Despite several multi-million pound development deals a county’s commercial property stock has reached “critical” levels. Dachser’s new facility at Brackmills Point in Northampton With a number of new design-and-build projects on the stocks, and demand strong, Northamptonshire is in danger of having its credit crunch recovery... Read More
Billionaire Gennadiy Bogolyubov is being sued by rabbi Yonah Pruss in a dispute over two central London properties which are worth hundreds of millions of pounds, the Evening Standard reports. The rabbi claims that he and Mr. Bogolyubov set up a joint venture with surveyor Colin Gershinson to buy and operate the investment properties.... Read More
While retailers are eagerly anticipating the Christmas rush and the boom in profits it generally leads to, spirits have been somewhat dampened by recent news on the high street. After a massively successful summer season, it appears that the change in weather has driven consumers back indoors, with small local retailers particularly suffering... Read More
British manufacturing firms are enjoying a boom period following years of recession, with both domestic and overseas demand leading to strong job creation within the sector. In fact, growth in the manufacturing industry is only outstripped by that in the services sector, which is impressive given the latter’s advantages in terms of size and... Read More
