The supply of commercial farmland increased during the first half of the year, leading to significant price growth expectations. According to the latest RICS/RAU Rural Land Market Survey H1 2015, demand growth moderated throughout many parts of the country in the first six months of the year, leading to an increase in supply. RICS Chief... Read More
After announcing earlier this week that it has fully let a City of London office building, Cornerstone Real Estate Advisers Europe has today confirmed two separate lettings at Hays House, Guildford. Hays House was originally constructed in the 1980s and was acquired by Cornerstone in 2012. This year the real estate investment manager... Read More
Logistics property specialist Tritax Big Box REIT has this morning reported a significant increase in operating profit and portfolio valuation. Profit for the first half of the year came in at almost £73.8 million, compared with £8.21 million in June 2014, while the value of the group’s warehouse portfolio increased from £0.36... Read More
Despite Newcastle facing the “challenge” of dwindling office space, yet another abandoned city centre office block has been added to a clutch of buildings about to receive a residential makeover. Aidan House — once the Tyneside headquarters of Her Majesty’s Revenue & Customs — has lain empty since 2010. Efforts to rent or... Read More
As the number of investors seeking UK commercial property assets continues to rise steadily, domestic firms keen to grab a slice of the action are having to act increasingly quickly when opportunities reach the market. For Clearbell Capital, this has resulted in the acquisition of two major portfolios spanning numerous sectors across the... Read More
The UK Commercial Property Trust (UKCPT) has released its interim results for the first half of 2015, during which it recorded 2.4 per cent capital growth leading to a property portfolio valuation of £1.24 billion as of the 30th June. However the NAV return of 5.2 per cent fell below the MSCI benchmark of 6.2 per cent, although this... Read More
Leading European logistics firm, Arcese UK, has relocated its Midlands distribution hub to a 90,000 sq ft logistics building in Daventry, Northamptonshire. L-R - Gemma Constantinou of DTZ and Keith Luetchford of Arcese The firm, which has its UK headquarters in Tilbury, Essex, has moved its distribution hub to the Heartlands Business... Read More
The multi-let real estate investment manager, Valad Europe, has paid €56.1m (£39.8m) for seven Dutch office blocks. The portfolio was purchased for its recently launched Valad Netherlands Diversified Partnership (VNDP) and is the fund’s second acquisition. All the assets — at Ruyterkade 5 in Amsterdam; Blaak 40 in Rotterdam;... Read More
Leading commercial property firm Colliers International has relocated its South West regional hub to a new HQ in the state of the art office scheme Templeback, in the heart of Bristol’s new business core. Colliers International South West and South Wales staff (left to right) Chris Dawson, Katie Spackman, Head of Office Tim Davies and... Read More
Greater investor confidence is intensifying competition on London’s South Bank, says a commercial property expert who specialises in the market. “South Bank has always been a challenging market to acquire in,” says Alastair Hilton, a partner at real estate advisor Union Street Partners. “This is partly due to its size – it... Read More
Cornerstone Real Estate Advisers, which yesterday confirmed two senior appointments, has today announced it has fully let 40 Gracechurch Street in the City of London. The achievement was reached after Hampden Capital, the largest Lloyd’s members’ agency, took the remaining 12,628 sq ft fifth floor on a ten-year lease, with no break... Read More
Legal & General Property (LGP) has continued its Birmingham acquisitions campaign by paying The Crown Estate £14.5m for 43 Temple Row. The property arm of the finance group has already spent around £260m on assets in the city in little over a year. The 36,000 sq ft mixed office and retail block — next door to the House of... Read More
Hammerson has announced that it has submitted a Proposal of Application Notice (PoAN) for a multi-million pound expansion of Aberdeen’s Union Square shopping and leisure destination. Union Square opened in 2009 and has since established itself as a key hub for retail activity in the heart of the city. The proposal will seek to... Read More
Commercial property developer Stoford has submitted plans for a new £12m head office for one of Britain’s largest vehicle leasing companies. Stoford director, Gerard Ludlow The purpose-built 36,000 sq ft administration complex, at Emersons Green in Bristol, would allow ALD Automotive to move its staff from its existing headquarters... Read More
The Princesshay Partnership, a joint venture between The Crown Estate and TH Real Estate, has been highly active recently with a number of projects in immediate proximity to Exeter’s Princesshay Shopping Centre in the pipeline. Along with a £70 million scheme to redevelop the existing bus and coach station, the partnership is now seeking... Read More
After successfully handling a significant dilapidations claim and managing the refurbishment of a North Tyneside industrial unit, a Newcastle-based firm of Chartered Surveyors has landed a £250,000 “knock on” contract following the letting of the property. Silverstone success: The interior of the New York Industrial Estate... Read More
National Grid has appointed BNP Paribas Real Estate to provide property and facilities management for its commercial property portfolio. The energy supplier awarded the contract this week although the real estate firm will not officially begin full delivery of services until April next year. The contract runs until the 1 April 2019,... Read More
A London Stock Exchange-listed property investment company specialising in European real estate has paid €85.5m (£60.5m) for a portfolio of 16 Spanish supermarkets. Kennedy Wilson Europe Real Estate (KWE) purchased the stores — 11 operated by the French multinational retailer Carrefour and five by the Spanish discount chain Dia... Read More
Online designer furniture retailer MADE.COM has today announced plans for the opening of a new 4,000 sq ft showroom at Liverpool retail destination Metquarter. MADE.COM cuts out the middlemen and connects the customer directly with makers. It currently operates from showrooms in London’s Soho and Leeds, and the latest opening... Read More
One of the largest global property investment managers, Cornerstone Real Estate Advisers, has strengthened it team with two senior appointments in the US and Europe. Cornerstone has announced the appointment of Joy Winterfield (above) as Managing Director of Global Portfolio Management based in Chicago. She will also form part of the... Read More
The government has announced the beginning of the sale process of its stake in the redevelopment of King’s Cross with the proceeds returning to the Treasury. The news follows Chancellor George Osborne’s announcement that the government intended to sell its investment in King's Cross Central Limited Partnership (KCCLP) in... Read More
A North-East council has received an £8m boost for its plan to transform an historic Tyneside shipyard into a business and warehouse complex. The 32-acre scheme has already received multi-million pound backing from the Government’s “Growth Deal” for the region. North Tyneside Council has teamed up with developer Kier to... Read More
