The second phase of a Wolverhampton business park which bucked the recession is underway with the completion of a build-to-suit commercial vehicle dealership. And the owners of the speculative development claim it is “fast heading towards being fully let”. Midlands Truck & Van’s new Bentley Bridge base, (left to right) Nigel... Read More
In what is describes as an “exciting addition to the world of business”, Canary Wharf Group has attracted a world-beating university to its docklands estate. During the next 12 months University College London (UCL) will wind down its existing department of Management Science and Innovation. Its replacement, a new School of... Read More
Northern Ireland’s trouble-hit Lisburn Square shopping centre — built fourteen years ago for £23m — has been sold for just £2m. Its new owner, property investor Marcol, says it intends to turn the piazza-style development into a prestige restaurant and leisure venue. The Lisburn city destination was placed on the market by... Read More
INTRENOS Global Investors has completed the €33.2 million (£23.5 million) sale of a Stockholm office building to Mengus Twelve AB on behalf of the EURO OFFICE 1 fund. The seven-storey property, located at Råsundavägen 18-20 (pictured) in the Solna sub-market of Stockholm, was constructed in 2002 and provides 10,141 sq m (109,156... Read More
Capital & Counties Properties (Capco) has seen the value of its London estates rise by 9 per cent to £3.4 billion during the six months ending 30 June 2015. Much of this growth has taken place at Capco’s Covent Garden estate which, during the first half, rose in value by 9 per cent to £1.8 billion and saw a subsequent lift of 8... Read More
Scarborough Muir Group Limited (SMG), a joint venture between Scarborough Group International and Muir Group, has announced today that it has received outline planning consent from Fife Council for its four acre commercial development site in Dalgety Bay. The 16,850 sq ft development will comprise an Aldi store, a drive-thru coffee... Read More
As London’s vacancy rates hit a 14-year low, one of the capital’s leading commercial agents has warned that the recovering economy could push the supply of city offices even lower. This year’s second quarter returns show the London vacancy rate at just 4.8 per cent. The only occasion it has been this low previously was between... Read More
Landowners and developers remain keen to press ahead with solar farm schemes in the South West despite mixed messages from the government, a national property consultancy reports. Robert Smith (pictured) of Bruton Knowles claims the Government has ‘pulled the rug out too early’ on renewable energy initiatives, after Chancellor... Read More
British Land has announced that it has exchanged contracts for the sale of 39 Victoria Street SW1 to the Singaporean property company Ho Bee Land for a gross purchase price of £144 million, representing a net price of £139 million. The ten-storey office building provides a total of 98,000 sq ft including the ground floor retail... Read More
Industrial and logistics property specialist SEGRO, has released a first half report showing a pre-tax profit of £330 million, comparing favourably to the same period in 2014 when a sum of £226.5 million was achieved. A large part of this growth was a 4.3 per cent hike in rental income from its overall portfolio, with 5.8 per cent... Read More
Kennedy Wilson Europe Real Estate (KWE) has completed the acquisition of nine South East offices from an affiliate of Apollo Global Management. The £211 million purchase, funded from the company’s cash resources, represents yield on cost of 8 per cent. The portfolio comprises 814,700 sq ft of modern office space with an occupancy... Read More
Land Securities’ £400 million retail destination Trinity Leeds has become the first shopping centre in Europe to provide customers with a loyalty scheme enabled for Apple Watch and Apple Wallet. Since opening its doors in 2013, Trinity Leeds has been widely regarded as the most digitally enabled shopping centre in Europe, utilising... Read More
Legal & General Property has acquired the Birmingham headquarters of Mitchells & Butlers (M&B) from LaSalle Investment Management for £69.5million, reflecting a net initial yet of 3.94%. L&G's freehold purchase of the 95,000 sq ft Grade A office building was made on behalf of its Limited Price Inflation Income Property... Read More
One of Europe’s leading real estate investment managers has made its first Dutch investment. The deal will also allow AEW Europe to develop the warehouse site at Helmond. The purchase — made on behalf of AEW’s LOGISTIS fund — includes a group of three premium logistics properties totalling 538,195 sq ft. The warehouses were... Read More
Axa Real Estate Investment Managers has completed the acquisition of a 35 per cent stake in western Germany’s largest shopping centre. The €231m (£164m) deal is Axa’s third retail complex joint venture in less than a year. The purchase of the Ruhr Park Shopping Centre in Bochum was made on behalf of Axa Selectiv Immo, a... Read More
Completed UK retail warehouse transactions in Q2 totalled £635 million - a 33 per cent increase on the second quarter last year, according to research conducted by DTZ. The latest investment activity takes the half-yearly total to over £1.3 billion, 27 per cent up on transaction volumes in H1 2014. In total there were 28 transactions... Read More
London’s historic Great Scotland Yard is set to be transformed into a luxury hotel following a £110 million deal between Indian billionaire Yusuffali Kader and property developer Galliard Group. The Grade II listed building is undergoing a £50 million refurbishment to provide 92,000 sq ft of luxury bedrooms, two bars, a library and... Read More
In what it described as a “competitive market” Helical Bar has let more than 46,000 sq ft of commercial space in the past 12 months. It has also secured offers on 47,500 sq ft at its London C-Space and The Bower schemes in little more than three months this year. “Having rotated out of our shopping centres in the last financial... Read More
One of Europe’s largest business park owners has signed a pre-let deal to build the new UK headquarters of a North American ATM products and service provider. 155 Milton North - DC Payments' new office at MEPC Milton Park in Oxfordshire (CGI) Work is expected to start within weeks on the offices for DC Payments — whose cash... Read More
Cromwell Funds Management has completed a second major acquisition on behalf of the Cromwell Direct Property Fund, with the purchase of a six-storey, Grade A office building in the Canberra for the sum of $16.8 million. The property is situated at 64 Allara Street, Canberra, and was built in 2008. It is fully leased to a number of... Read More
Now that the US economy has picked up following the global recession, casino development is once again on a roll. Several projects are under construction or in the pipeline across the country with a view cashing in on increased confidence. In Las Vegas, construction commenced on May 5 on Resorts World Las Vegas. The resort, being... Read More
The Hines Russia & Poland Fund (HPRF) and PPF Real Estate Holding B.V. have announced that they have jointly acquired the Metropolis Office Buildings I and III in Moscow. With this new acquisition, the partners own more than 56,000 leasable square metres (603,000 sq ft) of Class A office space, which is almost fully occupied by a... Read More
