A sharp fall in retail rents has been recorded in all regions except London over the past five years according to Colliers International. However the commercial property advisers’ Midsummer Retail Report also contains the encouraging forecast that the market is expected to recover to pre-recession levels by 2020. Stockport has seen one... Read More
Premier-Inn owner Whitbread has announced a new city centre hotel concept focused on cheaper, smaller rooms in the best locations. The UK's leading hotel group will open its first "Hub by Premier Inn" next summer in London’s St Martin's Lane. The group has committed to four further locations in central London, which will be opened... Read More
A recent study conducted by Deloitte Real Estate shows that the self-storage sector has grown by 12 per cent over the past year. This growth has been driven by a number of social and business factors that have helped to push revenues in the industry to around £355 million. Self-storage began in the United States and didn’t arrive in... Read More
Time Warner is believed to be in advanced talks about shifting its operations to New York’s Hudson Yards development. According to the FT the multinational media corporation is discussing selling its 80 storey Columbus Circle headquarters and taking over 1 million sq ft on the 26 acre site in Manhattan. Although nothing has yet been... Read More
Japan's public pension fund is the largest pool in the world and with huge amounts of capital to work with, it may start buying real estate in a bid to boost returns. This move could pour tens of billions of dollars into international centers like London and Paris, according to property consultant CBRE. Any plan by Japan's Government... Read More
While much focus has been placed on the plight of the retail sector recently, it is easy to forget that other industries have suffered as a result of economic uncertainty. The local pub was once a cornerstone of British social life, but with the rate of closures at record levels, there are increasing calls for action to reverse this... Read More
In order to take advantage of the recent lift in consumer confidence, retailers are pulling a number of tricks out of the bag to maximise profits and make up for several years of poor results. Promotions, offers and BOGOF deals have become seemingly permanent features of the high street and supermarkets – yet while chain stores are... Read More
Google has unveiled the details of its new London headquarters. The internet giant submitted plans for the one million sq ft development to Camden Council on Friday and, if approval is granted, construction is expected to begin early next year. The building will be located on a 2.4 acre plot of land in Kings Cross that has cost Google... Read More
Prince Charles has received a £700,000 boost to his income thanks to the performance of the Duchy of Cornwall. Official figures show that the Prince earned £19 million from the estate last year in comparison to £18.3 million in 2011. The Duchy is a landed estate given to the heir to the throne to provide an income. It is also... Read More
George Osborne has been forced into a humiliating climb-down over a £150 million ultrafast broadband scheme that was meant to support growth outside London. During his Spending Review statement the Chancellor hardly touched on broadband, despite the top billing given to infrastructure investment. The news came after the Department for... Read More
Despite encouraging economic indicators, rising living costs play a huge role in the lives of families living on the breadline. According to a report by the Joseph Rowntree Foundation (JRF), the past five years have seen the average cost of living for a typical British family increase by 25 per cent and have significantly widened the poverty... Read More
A Middle Eastern bidder has made an astonishing $2.1 billion offer for the Empire State Building. According to the Daily News the identity of the would-be-buyer remains a mystery, but the unnamed group is said to be serious and prepared to enter a bidding war to acquire the iconic building. The offer follows an earlier bid of £2... Read More
Energy regulator Ofgem has this week warned business owners that power shortages across the UK could lead to widespread blackouts in the coming years. These shortages, it claims, will be caused by a number of factors, not least of which is the closures of several ageing power stations which are unlikely to be replaced by alternatives for some... Read More
Despite signs of a slow-down in the Chinese economy, investors from the country are continuing to target the US commercial property market. Chinese interest in US assets began with a trickle of purchases two years ago but, recently, this has developed into a flood of billion dollar deals that shows no sign of receding in the near... Read More
In the case of residential property, the three most important factors are "location, location, and location." But when it comes to commercial property, does the mantra apply in the same way? The London market is very active right now, and has reached boom levels, according to Mat Oakley, Savills' head of commercial research. He... Read More
Since the demise of JJB Sports, rival chain Sports Direct has been growing both its market share and commercial property portfolio. Chief executive Mike Ashley, who also owns Newcastle United Football Club, has increased the worth of the chain several times over and, seemingly, has no intention of halting the rapid expansion of the sporting... Read More
Direct Line Insurance group has said that it is planning to axe 2,000 UK jobs as it seeks to extend its cost-cutting plan. The group announced plans in August 2012 to reduce gross annual costs by £100m a year, but now plans to double its cost-saving programme. The latest cuts affect around 14 per cent of its 14,400 staff. Direct... Read More
Commercial real estate leasing in the Washington D.C. area was limited during this quarter. Vacancy rates were on the rise, according to preliminary data collected by CBRE Group Inc. CBRE stated, "While the overall economy continues to show positive markers, office markets in the District, Northern Virginia and Suburban Maryland remain... Read More
While consumer confidence has grown in recent months, and May yielded the most positive sales results seen since records began, many stores are still suffering from the problems caused by the poor weather seen earlier this summer. There are concerns that the annual results of commercial property-based stores will be negatively affected by... Read More
A new survey of 18 to 35 year olds provides an insight into the thinking of the age group dubbed Generation Y and, according to its joint author, it provides good news for the property industry. The survey, Generation Y: Shopping and Entertainment in the Digital Age, was commissioned by the Urban Land Institute and conducted by the ULI... Read More
The British Retail Consortium (BRC) Retail Symposium has become one of the most highly anticipated events in the retail calendar, with representatives from some of the industry’s most successful firms sharing their experiences with established companies and start-up SMEs alike. However, as well as being an opportunity for senior figures... Read More
Football is a game that many enjoy playing as well as supporting and watching. Both men and women around the world get hooked on their team’s performance during competitions and some diehard fans even have their clubs logo tattooed on their body. But where did this sport that we love today actually come from and where did it all start?... Read More
