Total West End transaction volumes reached a record high of £3.85 billion in the first half of the year, according to a report from Savills. The figure represents a 22 per cent increase on the previous H1 best of £3.15 billion recorded in 2014. Savills reports that June saw stellar results, with £899 million being transacted across 18... Read More
Britain’s “chronic” shortage of distribution facilities has sparked a 16m sq ft “Big Shed” development boom during the first half of 2015, according to research published by BNP Paribas Real Estate. The rush to build logistics warehouses - including 7.6m sq ft of speculative schemes - is the highest development rate since... Read More
Sopra Steria, the multinational information technology services provider, has become the latest company to take space at Winnersh Triangle Business Park, near Reading. he 20,000 sq ft lease - arranged by DTZ acting on behalf of Harris Systems - will allow the French company to relocate from its present Reading base at Thames Valley... Read More
The London office and UK retail markets continue to perform strongly, allowing British Land to enjoy a successful start to the financial year. In its first quarterly trading statement covering the three months to the end of June 2015, the firm says occupier demand is strong, particularly in the retail sector, where lettings and... Read More
Schroder Real Estate Investment Trust (SREIT) has announced that pre-tax profits more than doubled in the full year ending the 31 March 2015, coupled with an unaudited NAV of £306.5 million, or 59.1 pence per share, as at 30 June 2015 – a quarterly increase of 2.4 per cent. During the 12 month period, the company saw pre-tax profits... Read More
Danish footwear and accessories company ECCO is to open its first shop in the North East after agreeing terms at intu Metrocentre. The global shoemaker is heading to the Gateshead retail and leisure destination as it seeks to continue its expansion into the UK market. UK Managing Director, David Butler said: “Over the past three... Read More
An organisation established to improve the image of the construction industry has launched its latest initiative — to promote better collaboration between clients, contractors, subcontractors and suppliers. The Considerate Constructors Scheme (CCS) was set up in 1997 as a non-profit-making, independent organisation to promote the... Read More
Work has started on a West Midlands business park that will give the biggest private sector employer in Stafford a new high-tech home. Trebor Developments — recently named as West Midlands Commercial Developer of the Year — has teamed up with US-based Rockspring’s Hanover Property Unit Trust to develop the 113,500 sq ft... Read More
AXA Real Estate Investment Managers has announced that it has successfully completed the acquisition of the Torre Beta office building in Milan for approximately €30 million (£21 million). The property was purchased from a fund managed by UBS Real Estate GmBH, on behalf of the Columbus Real Estate Euro Fund, launched and managed by... Read More
UK-based private equity fund manager Benson Elliot has agreed the €80 million (£55.7 million) sale of its landmark Cornerstone office development in Poblenou, Barcelona to a fund managed and advised by UBS Global Asset Management’s Global Real Estate (GRE) business. Benson Elliot forward purchased the 20,700 sq m (223,000 sq ft)... Read More
More than 300,000 sq ft of offices along the M42 corridor were leased or changed hands during the first six months of 2015, according to the office team at property adviser Bilfinger GVA. The figures — for the area between Junctions 4 and 6 of the M42 motorway including the NEC site and Birmingham Airport — show a solid... Read More
Investment in Northern Ireland commercial real estate is delivering better returns than the majority of mainland UK locations — and are even beating many European cities. According to MSCI's first publicly released Northern Ireland Investment Review the Province’s property investments posted a total return of 10.9 per cent... Read More
An award winning Plymouth building, The Ship at Derriford, has been sold to local property developer Burrington Estates, after appearing destined for demolition earlier in the year. Completed in 1993 for regional newspaper The Western Morning News, the Sir Nicholas Grimshaw designed glass and steel landmark reflects the city’s... Read More
Acting on behalf of clients, Delin Capital Asset Management (DCAM) has acquired a high specification warehouse in Amsterdam via a sale and leaseback transaction with fashion brand G-Star Raw. The 37,000 sq m (398,000 sq ft) facility was built by G-Star less than two years ago and is used as the company’s global e-commerce and... Read More
British Land and Oxford Properties have announced that the Leadenhall Building is nearly 90 per cent let or under offer following the latest lease agreement with DRW Trading Group (DRW). Chicago based DRW, which has offices in New York, San Francisco, Montreal and Singapore, is the seventh new occupier to agree terms at the... Read More
Henley360 — a property investment fund managed by one of the UK’s fastest growing private real estate companies — has paid €8.65m (£6.41m) for a Rotterdam business park. The deal is the fund’s third acquisition on mainland Europe since its launch 16 months ago. Established in 2006 Henley, a private equity real estate... Read More
British fragrance house Jo Malone London will open the doors of its first Global Premier Boutique on Regent Street this autumn, after signing a lease agreement with The Crown Estate. Asset manager for Regent Street at The Crown Estate, Katerina Mercury, believes the brand will add to choice and prove popular with West End... Read More
Leading property regeneration specialists Harworth Estates, in partnership with Energy Prospects Co-operative, has completed the installation of a 500 kilowatt (KW) wind turbine on the site of the former Shafton Two Gates colliery in Barnsley. The turbine, which is now fully operational, is capable of generating enough energy to power 1,000... Read More
AEW Europe has acquired St Clement’s House EC4 in a £25 million purchase on behalf of its Europe Value Investors Fund (EVI). The price of the off market transaction reflects a capital value of £580 per sq ft and is the third City of London asset added to EVI’s portfolio this year, following the acquisition of 24-28 Martin Lane... Read More
Madison International Realty has announced that it has sold its stake in Frankfurt’s Trianon Office Tower in a €540 million (£377 million) deal with New York based NorthStar Realty. Madison acquired a stake in the landmark skyscraper (pictured centre), which it owned along with Morgan Stanley Eurozone Office Fund, in 2012.... Read More
Ediston Property Investment Company has reported a Net Asset Value (NAV) increase of just under 5 per cent for the quarter 31 March - 30 June 2015. Ediston’s portfolio is now valued at £123.65 million, equating to a 4.9 per cent like-for-like increase. The valuation does not include the three acquisitions made during the period at a... Read More
The Executive Committee of Fife Council has given its support to the principle of a new mixed-use development on Rosyth Waterfront which, as well as attracting up to £500 million of investment to the local area, will significantly speed the regeneration of the wider town. In part, the decision to support the proposal for Rosyth... Read More
