Union Investment has announced that it has committed to the funding of Burlington House, the largest speculative prime office development in Dublin city centre. The Burlington House site, which was formerly occupied by a 1970s office building until its recent demolition, will deliver a total of 172,000 sq of office space, comprising... Read More
Boultbee Brooks Real Estate (BBRE) — the privately owned investor and developer which has the core of its portfolio in the Shoreditch and Clerkenwell areas of London — has paid £16m for three Manchester office properties. Local property group M20, which sold the trio of city centre buildings in an off-market deal with the... Read More
A third of the units on a landmark industrial estate are now under offer — just hours after the speculative development was unveiled to North-East property agents. Portobello Trade Park is unveiled to North-East industrial agents prior to its completion Weeks away from completion, the 15-unit Portobello Trade Park next to the A1(M)... Read More
According to new data compiled by Scottish Development International (SDI), the country enjoyed its most successful 12 months to date for inward investment during the 2014/2015 financial year. The figures show that SDI directly assisted in the process of generating more than £433 million worth of planned inward investment for Scotland... Read More
The Broadway in Bradford is one of the most highly anticipated retail openings of the year in the north of the country, with the development set to welcome shoppers on the 5th of November. This week, developer Westfield has confirmed that a further two brands have signed lease agreements for prime units within the £260 million centre,... Read More
Scotland’s largest professional services firm has announced the appointment of seven new partners and three associate partners in what it describes as the “single largest investment” in new partnerships north of the border. Three of EY’s new female partners (left to right) Jennifer Houston, Tricia Nelson and Laura Mair. EY —... Read More
Tritax Big Box REIT has secured a senior debt financing agreement for a southeast London distribution warehouse which is pre-let in its entirety to a subsidiary of Ocado. The £50.86 million facility has been agreed with Landesbank Hessen-Thüringen Girozentrale (Helaba), reflecting a loan to value ratio of around 50 per cent. The... Read More
Trinity Leeds has completed the signing of four new occupiers demonstrating the consistently high demand for space at the flagship retail destination, which recently scooped a prestigious design award in Las Vegas. The latest additions to the tenant line-up represent an eclectic mix of nationalities underlining Trinity Leeds’... Read More
Specialist real estate investment trust (REIT), NewRiver Retail, has paid more than £69m for a 13-site asset and development portfolio. Acquired from an un-named foodstore operator, the Ramsay Retail Warehouse Portfolio includes nine value-led retail parks and four development sites each with approved planning consents and pre-let... Read More
Helical Bar is to bring forward the 80,000 sq ft mixed use redevelopment of 26-35 Drury Lane and 8-12 Dryden Street, after entering into an agreement with Corporate Pension Fund clients of Savills Investment Management. Helical aims to submit a planning application for the scheme by September. Assuming this is granted the company will... Read More
AEW Europe has snapped up a portfolio of 10 shopping centres across France and Belgium from CBRE Retail Property Fund Belgium CV, on behalf of a new joint venture partnership between affiliates of the company and a subsidiary of China Investment Corporation (CIC). The purchase price has not been disclosed. Known as the Celsius... Read More
Although it failed to deliver the hoped for root-and-branch reform of the business rates system, last week’s Budget did hint at a badly needed update. Within hours of the Chancellor speaking, the Government published details of the progress on action it is taking to improve the administration of business rates, including the appeals... Read More
Interest is expected to be high in London’s Criterion restaurant after it was confirmed today that the marketing process for the sale of the prestigious establishment has begun. Agents Lambert Smith Hampton (LSH) and Charles Benjamin Associates have received instructions from administrators at UHY Hacker Young to jointly market the... Read More
Engineering consultancy, Waterman Group has taken 4,642 sq ft of Grade A office space at the heart of Birmingham city centre. The company has agreed a ten year lease on the fifth floor of One Cornwall Street (pictured above) in a deal brokered by DTZ and Savills acting on behalf of the landlord, clients of AXA Real Estate. One... Read More
Private equity real estate investor, Henley, has completed the leasehold sale of a 99,000 sq ft office asset at Newcastle’s Cobalt Business Park. Henley sold the property, which is currently let in its entirety to Proctor & Gamble, to an un-named ‘high net worth individual’ for £16.75 million, with a yield of 7.2 per... Read More
UK commercial property investment and development company, RO Real Estate, has successfully completed the sale of five properties for a total of £5.46 million. The disposals are part of the company’s strategic ongoing plan to remove non-core assets and reinvest the return into core income and value-add opportunities, in a bid to... Read More
Helical Bar chief executive Mike Slade enjoyed a double celebration in the French medieval city of St Malo on Friday. Mike Slade's Leopard: leader of the pack Following the recent announcement of a record 23 per cent increase the net asset value of shares in the property investment and development company, Slade was again in buoyant... Read More
The upcoming arrival of a brand new Bill’s Restaurant is poised to add to the attractions of the atmospheric New Orleans Quarter at intu Trafford Centre. The chain will join around 60 restaurants, cafés and bars at the North West’s super-regional prime shopping centre, as more major dining brands choose intu owned shopping centres... Read More
Redefine International, the FTSE 250-listed real estate investment trust (REIT), has confirmed it has let 30,000 sq ft of space so far this year — leaving less than two per cent of its retail portfolio vacant. Redefine — which started life in 2002 as the Corovest International Real Estate Fund — owns six shopping centres... Read More
Ediston Property Investment Company (EPIC) has announced that it has raised gross proceeds of £35.92 million pursuant to its Initial Placing for Subscription of Ordinary Shares at a price of 108 pence per share. A total of 33,263,931 shares will be issued of which 28,309,431 will be issued pursuant to the Initial Placing and 4,954,500... Read More
New research from JLL has revealed that office take-up in Glasgow city centre increased by nearly half in Q2 2015 compared to the same period in 2014. The findings show that city centre office take-up was 97,140 sq ft, while in Greater Glasgow and the West of Scotland it was 193,579 sq ft. While total city centre take-up fell by... Read More
Hammerson has announced that it has exchanged contracts to sell its interest in Grand Maine shopping centre located south west of Angers. The buyer is a leading French institutional investor, who has paid €63.2 million (£45.3 million) for the asset. The two-level shopping centre comprises 57 units offering a total of 8,600 sq m... Read More
