On Monday evening a landmark building hosted a landmark event. As the sun set over London, dozens of invited stars headed to the top of the Shard to get an exclusive first listen to the feverishly anticipated new album by chart topping French duo Daft Punk. In terms of the hype it has generated, Daft Punk’s return to the limelight,... Read More
Sheffield may be famous for its steel, but it’s Meadowhall that is doing all the shining at the moment. The shopping centre, which is the eighth largest in the country, has continued to attract record numbers of visitors and keep vacancy rates to a minimum. The centre, which opened in 1990 has 1,500,005 sq. ft. of space available to... Read More
British Land, which posted its full year results this week, has placed its mainland European retail portfolio up for sale in order to concentrate on expanding its core UK interests. However chief executive, Chris Grigg, is not expecting the disposal to be a quick one, due to current market conditions, but he stresses the announcement marks a... Read More
The results of research conducted by Deloitte show that office construction in Central London has hit a four year high. The London Office Crane Survey, one of the leading monitors of office development in the capital, reports that 9.7 million sq ft is currently under construction, three times the level of activity in 2010. The... Read More
A 20 per cent tax on hot pasties was introduced in October 2012, but even now some businesses are still charging it when they shouldn’t and not charging it when they should. But when should Value Added Tax (VAT) be added to pasties? If a pasty has just come out of the oven and is still warm then the tax should not be added. However... Read More
But are the returns worth the gamble? The commercial property market in Las Vegas has a definite perk for investors: low prices. Office buildings, strip malls, warehouses and other commercial properties are being offered for sale at approximately 20 per cent below 2000 prices. In other US markets, similar properties are priced 75 per... Read More
Three weeks after a garments factory collapsed in Bangladesh resulting in the death of 1,100 people, European retailers including Zara, H&M and Primark have signed an accord aimed at improving overall health and safety for all workers. The military rescue operation at the nine-storey Rana Plaza ended on Tuesday, and district... Read More
Jones Lang LaSalle says that confidence is returning to the regional commercial property market and that it is "stronger now than at any point since the financial crisis." Tim Luckman, of the North West valuation advisory team, made the comment at the firm's spring briefing. He stated that the market has passed its lowest point and was... Read More
In the past few years, many proposals have been put forward as “miracle” cures for the economic situation. However, it has become increasingly apparent that growth is reliant on the businesses which operate in the UK – and this, of course, includes SMEs which have struggled to remain afloat throughout the crisis. It has never been... Read More
The government’s change of use legislation, which is due to come into effect in England on May 30, threatens to descend into chaos as a number of local authorities are believed to be consulting lawyers over their failure to secure exemption. As we have previously reported 17 local authorities, including large areas of London, were... Read More
Last month it was announced that Britain has managed to avoid triple dip recession with a growth of 0.3 per cent in the economy. While this is positive news it does not necessarily mean that the troubles faced by businesses are over – in fact, figures released this week indicate that the situation on the high street may be getting... Read More
According to the latest report from the group's administrator, there has been little demand for JJB Sport's leasehold property portfolio. Administrators from KPMG LLP sold 20 of the group's trading stores to its major rival Sports Direct when it was appointed in October of 2012. The administrators continued to market 129 shops through... Read More
Newcastle’s Eldon Square shopping centre is to undergo a major refurbishment as part of a nationwide drive by owners intu to broaden the experience offered to visitors. The company is planning to invest £1 billion over the next decade on its portfolio of 15 shopping centres which also includes the Trafford Centre and the Arndale... Read More
High street banking chains are faced with a difficult position at present – many face accusations of withholding lending from small businesses, while the Government is throwing substantial support behind building societies and alternate lenders in a bid to “increase competition” in the financial sector. Yet with the financial... Read More
Banks and insurance companies have launched a strategy to acquire office buildings in Hong Kong. Rents are rising, while the amount of available space is on the decline in the location where occupancy costs are the second-highest in the world. Canadian insurance company Manulife Financial Corp and Hang Seng Bank Ltd. have bought office... Read More
English Heritage has published the results of a pilot project which will make it easier for landlords to make alterations to listed commercial buildings. The conservation body, which recently gave its blessing to controversial plans to redevelop London’s Smithfield Market, says the review will give owners more clarity in managing... Read More
Many small US companies and investors holding commercial properties are facing a financial crisis. Banks usually re-evaluate this type of mortgage loan at the five or 10-year term mark. They have the option of renewing it or asking the owner to pay it off. The issue for many owners is that banks have become less likely to extend any... Read More
Justice Secretary Chris Grayling has made the first step towards outlawing squatting in commercial property. Mr Grayling is understood to have written to MPs to discover the extent of the problem before deciding whether to bring the law in line with that regarding residential property. Pubs and shops have been occupied by... Read More
The British Retail Consortium (BRC) and KPMG Retail Sales Monitor has revealed a disappointing drop in April sales thanks to poor weather earlier in the month coupled with continuing economic uncertainty. Like for like sales during the month fell by 2.2 per cent when compared to April 2012, while total sales showed a 0.6 per cent... Read More
A bid for funding to restore Nottingham Castle and make more of its connection with Robin Hood has been rejected. Nottingham City Council applied for £14.9m towards the £26m development, which it hoped would create a “world class heritage attraction”. The Heritage Lottery Fund said requests for grants was “highly... Read More
The Portas review has begun to have an impact on the town centres of Britain, with retailers using funds from the government to repaint facades, organise events to draw in consumers and generally bring a feeling of community back to the high street. However, there is a very real concern that retail areas which experience a period of success... Read More
Shares in G4S, the company that made such a mess of providing the security for last year's Olympics, dropped 11 per cent on Tuesday morning, after it said profit margins would be lower than anticipated in 2013 because of a difficult first quarter in Europe. The news will pile more pressure on the company’s chief executive, Nick... Read More
