Movehut Exclusive Here at Movehut we aim to bring you the latest news from the commercial property industry and today we begin with an exclusive story. For several years now London’s O2 Arena has taken up valuable land on the Greenwich Peninsula in South East London, having become something of a final resting place for fairly unknown... Read More
It has been announced that West Ham will be anchor tenants for the Olympic Stadium after the government agreed to put in an additional £25m towards the costs of transforming the venue. The extra money takes the Treasury's contribution to around £60m, whilst the modification of the stadium could cost between £150m and... Read More
Alliance Partners has bought Burnham Center in downtown Chicago for $94.6 million. The company, which is the east coast branch the real estate firm The Schidler Group, signed the deal for the 580,000 sq ft property only five months after the historic building was put up for sale. Lenders were quite interested in offering support for... Read More
The recent unpredictable weather has created havoc in many areas of the UK, with widespread flooding in the south and blizzards in the north making the daily commute exceptionally difficult for many workers. However, it has also taken a toll on the retail industry – in particular home improvement brand B&Q, which has revealed the hit... Read More
With a delinquency rate of 14.6 per cent, boom-era commercial mortgage holders are missing out on the U.S. real estate recovery, according to Trepp LLC. The data provider has released a report showing that the average delinquency rate for the overall market is currently sitting at less than 10 per cent over the past year. The amount of... Read More
Maguire Investments has announced that it has recapitalised Water's Edge, its 6.5 acre, two-building "creative office campus" in Los Angeles with a $105 million loan. Water's Edge is located close to Ballona Preserve The funds are earmarked for tenant improvements as well as commissions for new leases on available space. The financing... Read More
The UK hotel industry experienced a boom last summer with the Queen’s Diamond Jubilee celebrations and the Olympic Games drawing visitors from around the world to experience the country’s culture. And while the Summer of Sport may be over, the hotel industry believes that Britain is still an attractive holiday destination with the... Read More
A Glasgow-based company has been fined £90,000 for making thousands of unwanted marketing calls, becoming the first company to be punished for a breach of privacy and communications procedures. Nearly 2,000 people complained to the Information Commissioner's Office (ICO) and the Telephone Preference Service (TPS) about kitchen-fitting... Read More
The commercial property market has not been immune to the effects of the foreclosure crisis. Years after the real estate boom went bust, Southwest Florida has seen some multimillion dollar commercial foreclosures in Lee and Collier counties. While there doesn't appear to be a large second wave of trouble brewing for properties in these... Read More
When London won the Olympic Games, promoters including London Olympic chief executive Lord Coe promised that the legacy would do wonders for UK businesses. Many believed that the Games would usher in a new era of prosperity for their companies, with their work and skills being showcased to billions on an international platform. Lord... Read More
Recently we reported that plans to remove an historic section of the Berlin Wall to allow a property development to go ahead had led to protests in the German capital. The section in question is part of the East Side Gallery stretch of the wall which has been decorated by international artists and is considered to be a symbol of freedom by... Read More
More than 2,000 staff at the DVD rental firm Blockbuster have seen their jobs protected by an investment company that previously helped to rescue the Republic fashion group. Gordon Brothers Europe has bought 264 Blockbuster shops threatened with closure. The company has struggled over the past few years as a result of online... Read More
Following a period of tough conditions in the commercial property market, Macdonald Estates Group has been forced to post a pre-tax profit of only £2.1 million for 2012. However, the firm has admitted that even this amount has been chalked up as a major achievement thanks to factors such as falling rents and a plunge in capital values.... Read More
Pacific Investment Management Co (PIMCO), which has $2 trillion under management, is now targeting direct commercial property investments and non-securitized loans. The company says that now that banks worldwide are making a move to offload some of their debt, it is buying some of the unrated loans. Dan Ivascyn, a managing director at PIMCO,... Read More
Time appears to be running out for Preston’s bus station after a millionaire’s bid to buy it was formally rejected by the council. Simon Rigby hoped to prevent the demolition of the 1960s building by purchasing it for £1 together with a pledge to immediately invest £2 million followed by £500,000 a year over the next... Read More
Following the tax scandal which plagued the business dealings of many big retail names earlier this year, it is hardly surprising that Starbucks is attempting to draw back consumers with a promise of greater quality and variety than ever before. The coffee chain has already put its plan for optimum flavours in its beans into action by... Read More
The commercial property market in Beijing has risen by 320.5 per cent in the first 10 days of March. Since the government has introduced its new measures to cool down the country's residential sector, investors have responded by shifting their focus to this portion of the market. According to real estate brokerage firm Century 21, 759... Read More
As Britain’s economy struggles to emerge from recession, it appears that the government is investing its hopes in SMEs leading the way to recovery with aspects of the recent budget reflecting this. However, Business Secretary Vince Cable has now announced that further measures are required to nurture and support small start-ups, and... Read More
A new cinema, a smaller shopping space, and plans to turn Bolton into the main hub for town centre offices in north Greater Manchester are among major plans currently under consideration. The Greater Manchester Planning and Housing Commission has carried out a study into Greater Manchester’s eight main town centres and formed an... Read More
The developers behind the South Bank’s controversial Elizabeth House scheme have been given the green light following a planning disagreement that became known as the ‘Battle of Waterloo.’ On one side were Chelsfield Partners and London Regional Properties together with architect Sir David Chipperfield. On the other were Westminster... Read More
British Land has sold its Ropemaker Place development in London for £472 million to raise capital to buy several new office properties. The sale is part of the company's efforts to accumulate nearly £1 billion it needs to take advantage of the growing number of office and retail properties that are coming onto the market. The company... Read More
A new Grade A office development is currently under construction near Didcot which will play an instrumental role in the formation of the Science Vale Enterprise Zone. The project on Milton Park, which upon completion will be Oxfordshire’s only top class office space, is expected to create 500 new jobs in the area with hopes that the high... Read More
