Arena Central Developments Limited (ACDL) has confirmed the appointment of Galliford Try as main contractor for the first phase of Birmingham’s new Arena Central scheme. Galliford Try and ACDL, a partnership between Miller Developments and Pro Vinci, have signed a contract worth £66 million for a large scale construction project at... Read More
UK construction growth dipped in July due to a slight fall in the number of residential and civil engineering projects underway. However, the slowdown in these areas was countered by a boom in commercial activity, which enjoyed its fastest rate of growth since March. According to the latest Markit/Chartered Institute of Procurement... Read More
Cording Real Estate Group has purchased the freehold of a prominent Salford Quays office complex in a joint venture with US private equity group HIG Capital International Advisors. The complex, called The Anchorage, was acquired from a private investor client of Knight Frank. The quoting price was £35 million. The asset comprises a... Read More
Mayfair Capital Investment Management, the UK real estate investment manager, has appointed former Rockspring Property Investment Managers' European Director, Phil Sturdy as its new Investment Director, and has also confirmed the appointment of Laura Sweet as Asset Manager. Mr Sturdy (above) has been brought in to support the firm's... Read More
Trebor Developments has completed a four-year European assisted project to build a new home for Birmingham’s Assay Office. The institution has now moved from the Newhall Street headquarters it occupied for almost 140 years. The 60,000 sq ft development in the heart of the city’s Jewellery Quarter will now enable the Assay Office,... Read More
LaSalle Investment Management, one of the world's largest real estate investment managers, has acquired a Thames Valley business park for a client in a £40m off-market purchase from a special purpose vehicle controlled by Clearbell and Patron Capital. Described as one of Buckinghamshire’s prestige business parks, Kingsmead Business... Read More
AXA Real Estate Investment Managers has completed a key milestone in the refurbishment of a Frankfurt office complex, with the installation of the first seven-metre-high ‘Joyful Wave’ sculpture, flowing over 25 metres through the courtyard between the die welle buildings. Over 7,500 working hours were required to form the geometric... Read More
Land Securities has let 49,000 sq ft of office space at Thomas More Square E1 following the completion of a large scale refurbishment at number 3 TMSq. Thomas More Square, E1 Leading charity St Mungo’s Broadway has taken up 20,000 sq ft of space on the fifth floor on a 15 year lease with an 11 year break clause. This means that 3... Read More
Almacantar has completed the £550 million forward purchase of One and Two Southbank Place from Braeburn Estates, the joint venture between Canary Wharf Group and Qatari Diar, in the South Bank’s largest ever property transaction. Southbank Place is part of Braeburn’s redevelopment of the five-and-a-half acre Shell Centre site... Read More
Axa Real Estate Investment Managers has announced that the final close of its most recent pan-European real estate debt fund saw the firm raise a total of €2.9 billion, making it one of the largest Commercial Real Estate (CRE) senior loan funds in Europe. Known as Commercial Real Estate Senior 9, or CRE9, the fund attracted... Read More
Kennedy Wilson Europe, the investment manager of Kennedy Wilson Europe Real Estate Plc, has appointed Mike Pegler (pictured) as Head of European Asset Management (Ex Ireland). Peglar joins after a ten year stint at the global investment and advisory firm Blackstone, where he was Managing Director in the Real Estate Group. In this capacity... Read More
One of London’s oldest and most celebrated commercial art galleries will return to St James’s next year, a century after leaving Pall Mall for Mayfair. Colnaghi, which was established in 1760, will relocate from its current premises on Old Bond Street to a new 4,000 sq ft exhibition space at 26 Bury Street, which is due to be... Read More
Reports from two leading agencies both claim that strong investment activity is continuing to push down property yields across the majority of European markets. The progress made towards a new Greek bailout agreement has lessened the uncertainty although Greece’s long term future remains in question DTZ’s European Fair Value Index... Read More
More than half-a-million square feet of Birmingham office space was let during the second quarter of 2015 — 75 per cent of the city’s average annual take up. The 521,136 sq ft return, reported by commercial, office and industrial agency Lambert Smith Hampton (LSH), represents a 358 per cent increase on the same period last year and... Read More
Leading diversified real estate investment manager Valad Europe has leased a total of 9,480 sq m (102,000 sq ft) of warehouse space at Kolumbusstraße 16 in Hamburg Billbrook, on behalf of its Valad European Income Fund. International logistics firm Thordsen Spedition has taken over half of the space at the 18,726 sq m (201,500 sq ft)... Read More
Occupier activity has risen in the German office market with a total of 1,521,200 sq m of space taken up in the country’s seven top markets of Berlin, Dusseldorf, Frankfurt, Hamburg, Cologne, Munich and Stuttgart during the first half of 2015. This figure represents a 13 per cent year-on-year increase as well as the highest take-up result... Read More
The rising number of occupiers seeking advice on dilapidations is an indication that the recovery has the potential for further growth, according to a West of England property professional. Head of Commercial at Bruton Knowles's Gloucester office, Angus Taylor, said: “Dilapidations are not the first thing that comes to mind as a... Read More
Land Securities has let a further 50,000 sq ft at 62 Buckingham Gate SW1, taking the occupancy rate to 96 per cent. The latest additions to the tenant line-up are leading Italian investment bank Mediobanca and international sport, entertainment and communications group Chime. Mediobanca will move to the fourth floor of the office... Read More
Just three years after it received planning approval a council-owned Staffordshire business park has just two plots left undeveloped. Stafford Borough Council gave the go ahead for Redhill Business Park, close to Junction 14 of the M6 motorway, late in 2012. Since then work has started on a major manufacturing plant and offices for... Read More
Hortons’ Estate has completed the £4.1 million first phase of the restoration of The Grand on Birmingham’s Colmore Row. Over the coming two months the wraps will be removed, exposing the ornate stone and marble façade of the building, overlooking St Philip’s Cathedral and Church Street, for the first time since 2003. A replica of... Read More
intu Properties has today issued its first half interim statement in which the group reveals a significant boost in net rental income and underlying earnings, bringing profit for the period to £262 million including a £162 million property revaluation surplus. Thanks to a series of acquisitions, including that of the Puerto Venecia... Read More
The Mayor of London Boris Johnson has today announced the launch of a £20 million fund designed to re-energise the capital’s high streets through creativity and technological innovation – and he has called for more affordable workspace to help small businesses prosper. The London Regeneration Fund will encourage local authorities,... Read More
