Real Estate Management UK Ltd (REM) – a joint venture between the State of Qatar, Qatar National Bank and the Sellar family – has marked the completion of the structure of its 48 Pall Mall development with a topping out ceremony. The St James’s office building, which combines with neighbouring 49 Pall Mall, will provide 32,000 sq... Read More
Edinburgh, Glasgow, Manchester and Bristol were among the European cities experiencing the highest growth in prime industrial rents during the first half of the year. The news comes in the latest Industrial and Logistics Snapshot from global property advisers Colliers International, which shows that Edinburgh led the UK surge with an... Read More
The ongoing instability in the Russian retail sector has led to Eastern Europe shopping centre owner and developer Atrium European Real Estate reporting lower profits and half-year earnings. Atrium Promenada (Warsaw, Poland) Commenting in an “ad hoc announcement” on both its second quarter and 2015 first-half trading figures Atrium... Read More
London is leading the way in providing flexible workspace according to a global report released by DTZ. The “How You Work” assessed the trend towards flexible office space which is rapidly gaining popularity. London is a leader in the international community in this regard, with close to 1,000 flexible working locations already in... Read More
M&G Real Estate has made its first retail acquisition in South Korea by purchasing three assets at a combined value of US $230 million (£147.3m). The acquisition, which represents an average yield of 6.5 per cent, was managed by Singapore-based Erie Spratt. Under the deal’s terms, M&G is now the owner of two hypermarkets.... Read More
Northumberland development company Arch has received planning permission for a £4.5 million hotel at its Commissioners Quay development in Blyth, the New Post Leader reports. To be known as the Commissioners Quay Inn, the hotel will comprise 40 bedrooms across three floors with a ground floor bar and restaurant space for up to 265... Read More
The East Midlands office market is heading for a record breaking year — with more than 200,000 sq ft being transacted in the second quarter of 2015 alone. Lambert Smith Hampton’s East Midlands office agency head, Jane Taylor According to the latest Office Market Pulse from commercial property consultancy Lambert Smith Hampton... Read More
The Crown Estate is poised to embark on a £150 million extension to Leicester shopping destination Fosse Park, after reaching a conditional agreement to buy the 12.5 acre Castle Acres site. The purchase of the site is subject to Blaby District Council approving a recently submitted planning application from The Crown Estate, Next and... Read More
The North-East’s biggest commercial developer has started work on the latest stage of its multi-million pound refurbishment of Teesside Estate. UK Land Estates’ £5m investment comes after the company spent £3m improving access to the site. Adrian Bartle, of UK Land Estates, and STP Construction’s Carl Gilbert at Cavotec UK’s new... Read More
According to the Scottish Property Federation (SPF) Aberdeen was close to the forefront of a surge in commercial property transactions in Scotland during Q2, with activity in the Granite City hitting a three-year high of £201 million. The research shows that Aberdeen had three transactions alone worth £178 million, with one being Legal... Read More
AXA Real Estate Investment Managers will shortly begin construction of the first phase of a major mixed-use urban campus in Hammersmith. Assembly London, located on the site of the former Harper Collins office on Fulham Palace Road, will eventually comprise four buildings providing a total of 220,000 sq ft of commercial space. Phase... Read More
According to research conducted by DTZ, the regional retail and industrial markets offer the best opportunities for commercial property investors - with Manchester topping the rankings. The firm's European Fair Value Index Q2 2015 report reveals that due to strong investment activity in the UK, yields have been pushed down further in... Read More
Derwent London has increased its net rental income by 5 per cent to £66.9 million as the capital’s strong occupier demand continued to drive rental growth and letting activity in the first half of the year. In the firm’s interim first half statement, it was revealed that the estimated rental value (ERV) of the firm’s portfolio... Read More
A Birmingham joint-venture industrial and warehouse development has secured its first tenant before construction work on the £20m scheme has even begun. A design image of Birmingham’s Wharfdale Park development Wharfdale Park — next to the Grand Union Canal at Tyseley — is being regenerated and delivered by H2O Urban, a... Read More
The Homes and Communities Agency (HCA) is pressing ahead with its attempts to solve the Shropshire “big hut” shortage with a plan to build a 640,000 sq ft warehouse in Telford. Matthew Tilt of Lambert Smith Hampton The scheme, being considered by Telford and Wrekin Council, is for a single mega-shed at the HCA’s Telford 54 site,... Read More
Increased business confidence in the Midlands has been cited by Harworth Estates as the driving factor behind three separate letting deals at Asfordby Business Park, close to Melton Mowbray. The first lease was agreed with Leicestershire based haulage firm S&J European Haulage Ltd, which snapped up units C1, C1A and C2B accounting... Read More
Politicians, commercial agents and shoppers have united to brand a decision by Sainsbury’s to scrap a flagship North-East store — just days away from opening — as a “disgrace”. The supermarket giant’s latest store at Middlesbrough, built as the centrepiece of the multi-million pound Middlehaven Gateway scheme, only needs... Read More
Capital & Regional has revealed an increase of 76 per cent in operating profit to £11.8 million in the first half of the year, significantly outperforming the £6.7 million taken during the same period last year. Capital & Regional currently controls a portfolio of six fully owned shopping centres in the UK, along with a 20... Read More
A tie-in between two Legal & General companies has secured a half-share in a 200-acre Yorkshire business development. The joint venture with Scarborough Group International will add more than a million square feet of mixed-use development to Thorpe Park in Leeds. Legal & General Capital (LGC) and Legal & General Property... Read More
Property investment company Picton has acquired the freehold of a Sheffield retail warehouse for £17.7 million, reflecting a net initial yield of 6.6 per cent. The property, which was built in 2002, is located on an established nine acre site close to the city centre comprising a 103,000 sq ft retail warehouse and a 40,000 sq ft... Read More
The summer sunshine at the beginning of July did much to elevate the mood of British consumers, and it appears that this ebullience translated into a strong period for retail sales. And while online retailers enjoyed a proportion of the success, bricks and mortar retailers were able to perform equally well for the first time in several years... Read More
As High Street bookmaker chains continue to struggle against rising gambling taxes and gaming machine duty, Ladbrokes has confirmed that the gap between itself and sector leader William Hill has widened further during the first half of the calendar year. However, this was largely due to a write down in the value of the chain’s shops, which... Read More
