The German government has signed an agreement to sell sate owned property firm TLG Immobilien to Lone Star Funds for $1.4 billion (€1.1 billion). This deal represents the company's largest commercial property transaction of 2012. TLG Immobilien owns approximately 800 buildings in the eastern part of Germany. German Chancellor Angela... Read More
Despite continuing economic uncertainty the London commercial property market continues to attract growing numbers of foreign investors. Overseas institutions, including pension and sovereign wealth funds, have been pouring billions into UK property over recent years with London offices seen as particularly desirable investments. This... Read More
With Christmas drawing ever closer, stores across the UK are in a festive frenzy to achieve the highest possible sales following four years of recession. Yet there are still concerns in the retail industry that economic pressure will see this year’s sales dampened due to lower disposable incomes in households, which has led to many big high... Read More
The taxpayer will be left with a multi-million bill following the collapse of electrical retailer Comet according to the administrator Deloitte. With the remaining 50 Comet stores due to close today it appears there is insufficient money left in the coffers to honour statutory redundancy payments to the chain’s 6,000 staff, leaving the... Read More
For the second weekend running the festive spending frenzy has smashed West End trading records. Over the course of Saturday and Sunday retailers took an estimated £200 million as footfall once again exceeded expectations. The scale of the bonanza saw the number of shoppers hitting Oxford Street, Regent Street and Bond Street rise by... Read More
Starting a business in a time of economic difficulty may seem like an ill-advised venture, yet with self-employment on the rise throughout the period it seems that plenty of workers were willing to take that risk. Unfortunately, it now appears that many of those who took the plunge and set up their own company since the beginning of the... Read More
Supermarkets, libraries, a Costa Coffee shop and even Tottenham Hotspur's football ground are being suggested as places where the public could go to report crime as a replacement for traditional police station front counters. The radical idea to create “pop-up police stations” across north London has been put forward in a bid to save... Read More
In last week’s Autumn Statement the Chancellor George Osborne announced all newly built commercial property completed between October of next year and September 2016 will be exempt from empty property rates for 18 months. It is hoped this move will give a boost to speculative development which is currently stalled due to economic... Read More
The commercial property market in Hong Kong has increased dramatically in 2012. Transaction volumes and values have reached their highest level since 1997 as a result of strong demand from investors after the government moved to impose special stamp duties on residential property transactions. Transaction figures in the period to 8th... Read More
It is fair to say that the Olympic and Paralympic Games created something of a stir in Britain earlier this year. As well as London being the home ground for the events for the first time since 1948, Team GB did the country proud by eventually finishing third in the countries table, with 29 gold medals among the 65 strong haul. Of course,... Read More
The UK’s struggling economy is proving to be bad news for charities. According to a recent poll many could disappear as early as next year unless the situation improves. The poll commissioned by the Charities Aid Foundation (CAF) confirms that as many as one in six charities believe they could close in the next 12 months, while... Read More
Hilton Worldwide has announced plans to develop its first dual-branded property in France. The Hilton Garden Inn and Hampton by Hilton Val d’Europe will be located near Disneyland Paris in Val D'Europe. The properties are scheduled for completion in 2015. The two hotels will occupy 22,200 square meters (239,000 square feet) of space... Read More
The prestigious Sheraton Norfolk Waterside Hotel in Virginia will be sold at auction on 20th December, according to a legal notice published in the December 6 issue of the Virginian Pilot. The 468-room hotel was acquired by a local company for $40 million in October 2006. In 2011 the property value had fallen to as low as $31.4... Read More
With the advent of online shopping, traditional high street retailers came under attack from a new generation of rivals. Consumers can now order games, DVDs and CDs from the comfort of their own homes rather than trek around the shops, with their purchases being delivered to their front door only days later. As well as offering a more... Read More
Commercial Mortgage-Backed Securities (CMBS) are offering better yields to investors than corporate bonds issued by lenders, which means investors seem to be betting on a commercial property recovery. According to JPMorgan Chase & Co., relative spreads on bonds tied to hotels, shopping malls and other commercial buildings have narrowed... Read More
Anyone who faces the daily commute to work by public transport knows that, along with frequent delays due to traffic congestion or weather issues, it can prove to be incredibly expensive even with discount options such as a young person’s travel card. And with prices set to rise as revealed by George Osborne’s Autumn Statement, workers... Read More
Many fashion retailers have struggled to garner consumer interest in recent times due to falling disposable incomes for most workers. This has led to profit warnings being posted by traditionally successful brands such as Burberry and Mulberry, and the eventual lapse into administration by high street favourites including Peacocks, JJB Sports... Read More
In hard times, it is understandable that businesses wish to save money where possible in a bid to post higher profits and boost their share prices. However, in recent weeks the press has been flooded with tales of multinational companies failing to pay tax for trading on UK soil – something that hard pressed British tax payers have reacted... Read More
This year has seen a minor contraction in Russian commercial property value. Cushman and Wakefield has released figures indicating that the expected volume of investment is expected to reach approximately $7.2 billion (€5.5 billion) by the end of the year, which is five per cent less than the total for 2011. Moscow is a popular location... Read More
Low prices and falling rents have created a situation where banks are feeling the pressure to get large loans off their books and have resorted to putting a significant number of commercial properties up for auction hoping for a quick sale. This is good news for investors who are searching for a bargain, according to property experts... Read More
Shoe Zone, which acquired Stead and Simpson in January 2008 has announced that it will be closing 90 of their 227 high street stores. The locations of the closures have not yet been announced, but it is understood that around 500 staff will lose their jobs. Naomi Shefford, marketing and property director for Shoe Zone spoke of the... Read More
British households have had a tough four years during the recession, with high inflation, the rising cost of essentials and pay freezes all adding to the strain on domestic budgets. On top of this, rising public transport costs have severely hit the pockets of those having to commute to their workplace. In a study published by a coalition... Read More
