The Thackeray Estate says it will use the £16.25m it received from the sale of a Parsons Green site to fund several London acquisitions nearing completion. The asset manager and developer confirmed it has amassed a £300m war chest to expand its City portfolio. Its latest disposal, to privately-owned investment business Martin's... Read More
Capital & Regional, the UK focused Real Estate Investment Trust (REIT), has today issued a valuation update prior to the announcement of its half year results later in the summer, showing a rise in the valuation of its portfolio and a strong operational performance. Specialising in dominant in-town community shopping centres,... Read More
UK based property developer Spicer Oppenheim and strategic partner AECOM have finalised an agreement with the City of St Petersburg to deliver a major scheme to support the 2018 FIFA World Cup. Paul Jarvis, CEO of Spicer Oppenheim and Georgy Poltavchenko, Governor of St. Petersburg signing the agreement at the St Petersburg International... Read More
Retail and leisure developer and asset manager Sovereign Land, has announced a quartet of additions to the occupier line-up at Willow Place and Corby Town Shopping, which was acquired in March 2015 in a joint venture with Europa Capital. The first new retailer to take up space within the dominant in-town shopping centre and retail... Read More
Plans for the Square Mile’s tallest skyscraper have been submitted to the City of London Corporation, according to the Telegraph. At 997ft, the proposed office tower will fall just short of The Shard in terms of its height, making it the second tallest building in Western Europe, but will exceed the height of AXA’s proposed replacement... Read More
Pramerica Real Estate Investors has announced the first close of its Asia Property Fund (ASPF) III, after receiving €480 million in capital commitments, easily exceeding its initial fundraising target of €400 million. ASPF III is the third in a series of funds investing in the Asia Pacific market and has attracted capital from... Read More
A global investment company has cleared one of the biggest hurdles facing its £850m scheme to transform the heart of Edinburgh. The milestone development is the largest regeneration project currently underway in the UK. Despite opposition from conservationists and heritage campaigners, city council planners have backed TH Real... Read More
Commercial specialist Lambert Smith Hampton (LSH) has been hired to oversee the second round of property sell-offs by Newcastle City Council. Earlier this year the authority raised more than £10m from the disposal of unwanted land and buildings. In January cash strapped city council bosses ordered the disposal of 15 land, commercial... Read More
Chinese investors were very active in the Australian commercial property market during the last quarter, pouring more than 25 per cent of total capital into the market, according to CBRE. Australia is proving popular with Chinese investors and there are a number of factors which suggest the trend is likely to continue. Increased... Read More
London-based Citrus Group has unveiled plans for what it claims would be one of the biggest North-East commercial and industrial developments in more than a decade. The developer says the scheme — on a 180-acre site just off Junction 61 of the A1(M) at Bowburn, near Durham City — would create up to 4,500 jobs and pump at least... Read More
An alliance of leading London property owners has today announced the launch of a unique initiative to promote green infrastructure in the capital. The Wild West End project, launched by The Crown Estate, Grosvenor Britain & Ireland, the Howard de Walden Estate and The Portland Estate, is the first city centre ecology project in... Read More
Following the Airport Commission’s recommendation for a third runway at Heathrow, Savills has forecast that the hotel sector will see demand rise by 42 per cent - equivalent to an additional 3,500 rooms. Savills also reports that the ten year average occupancy rate for airport hotels is 78-79 per cent, making the asset class very... Read More
Investment in the central London commercial property market could reach record-breaking levels this year, after first half volumes hit £9.4 billion. This figure has only been exceeded on two previous occasions, in 2004 and 2007, and easily surpasses last year’s H1 total of £6.1 billion, in what went on to be a record-breaking... Read More
A further 47,021 sq ft has been let at The Shard following agreements with two new occupiers and the expansion of an existing tenancy. International law firm Greenberg Traurig, which operates in the UK as Greenberg Traurig Maher (GTM), is due to take 19, 785 sq ft of office space when it relocates from its current London address to... Read More
As prices continue to rise and supply falls ever further in London, international investors are increasingly finding it difficult to snap up prime properties in the UK capital. This, according to Collier’s International’s Midsummer Retail Report, is creating numerous opportunities for regional areas to capitalise by showcasing their... Read More
After six month campaign to change the profile and perception of Stockport by the town’s largest landlord its latest letting figures look set to be the best for more than five years. Orbit Developments — the commercial division of The Emerson Group — is reporting that in the first six months of this year it has let 25,000 sq ft... Read More
Land Securities has successfully let nearly 25,000 sq ft at 62 Buckingham Gate SW1 to rapidly expanding financial technology company WorldRemit. The deal, which will see WorldRemit relocate its UK headquarters to the second floor of the 257,000 sq ft building, takes 62 Buckingham Gate’s occupancy rate to 78 per cent let. 62... Read More
Schroders and Stanhope have appointed Lendlease as the preferred contractor for the first of five office buildings at Ruskin Square, the development partnership’s £500 million business, leisure and residential quarter adjacent to East Croydon Station. Construction work on the building, which will provide 200,000 sq ft of flexible... Read More
More than £24m has changed hands in four separate West Midlands and Welsh commercial property deals. The biggest transaction — worth £17.4m — involves a yet to be completed retail park. Aberdeen Asset Management has bought the St Modwen developed Technology Retail Park in Rugby on behalf of one of its clients. The 100,000 sq ft... Read More
Cornerstone Real Estate Advisers has stepped up its European expansion drive with two new appointments to its research team. Michal Kapusta is joining Cornerstone as Associate Director, based at the global real estate investment manager's Munich office, while Jo Warren will be joining the London office as Research Analyst. Both will... Read More
Clyde Real Estate (CRE) — the commercial property company launched last year by entrepreneur, businessman and former Irish presidential candidate Sean Gallagher — has confirmed it has so far raised more than €25m (£17.7m). The firm, founded by the panellist on RTÉ's Dragon's Den to capitalise on growing office demand in Dublin... Read More
PATRIZIA has completed the acquisition of the 20 acre mixed use First Street site in central Manchester for an undisclosed price. The announcement comes just days after a detailed planning permission for a large modern office building was submitted in the latest phase of the development. This follows a number of key milestones achieved... Read More
