The Crown Estate is one of the UK’s largest and most influential commercial property players, with assets throughout the country combining into a portfolio worth over £2 billion. However, the firm recently made the decision to rebalance this portfolio as a means of capitalising upon the strong asset management opportunities... Read More
A pub in Staffordshire has been deemed an 'eyesore' by residents and urged for it to be demolished as redevelopment plans have been rejected a second time. The former Crown Inn pub on Tean Road, Mobberley was proposed to become six houses and two flats, with garages and parking spaces, until it was rejected by Staffordshire Moorlands... Read More
As consumers in regional areas continue to demand a greater choice of leisure and retail options in which to spend excess disposable income, more and more local authorities are choosing to enter into development partnerships as a means of boosting spending in the local area. This has been the case in Warrington, where the borough... Read More
Less than two months after a controversial expansion of Dalton Park was finally given the go-ahead, a global investment management company has bought the County Durham outlet centre for £38m in an off-market deal. Despite concerns over the potential impact on shops in nearby Seaham and Peterlee, the Government decided not to intervene... Read More
A leading diversified real estate investment fund has paid more than £43m for St Johns Shopping Centre in Leeds and a car showroom in Nottingham. The twin purchase brings Valad Europe’s takes the value of Valad Europe’s UK portfolio to £288m. “Both of these assets were selected because of their excellent locations in Britain's... Read More
Hong Kong based hotel operator Shangri-La is reportedly suing contractor John Sisk and Son over the near twelve month delay in the opening of its five-star Shangri-La at The Shard. The reports say that Shangri-La has lodged a £57 million High Court writ against the contractor over delays to the fit-out of the 202 rooms which led to... Read More
Independent global property consultancy Knight Frank Asia Pacific has released its Asia-Pacific Prime Office Rental Index for Q1 2015. The index was up slightly in the first quarter, increasing by 1.3 per cent and is now sitting at 5.3 per cent above its pre-crisis (Q2 2008) peak. Rental growth was seen in 13 of the 19 markets... Read More
Despite a downturn in oil prices, commercial real estate developers in the Canadian city of Calgary are not experiencing a downturn in investment – instead they report increasing opportunities. Investors who found that prices were previously out of their range are getting the chance now that prices have moderated, according to the... Read More
The acute shortage of industrial units in a Northamptonshire town has triggered a race-for-space, one of the county’s leading commercial property specialists has reported. The severe shortage is also speeding up transaction times as occupiers compete for what little accommodation Wellingborough has to offer, says Samantha Jones, an... Read More
A new report from JLL forecasts that international retail expansion will accelerate in the Nordic region over the next two years. The Destination Nordics 2015 report analyses the presence and expansion of international retailers in six major Nordic markets and indicates that Nordic cities remain areas of opportunity. Over the next... Read More
Derwent London has today announced that the London Borough of Southwark has granted planning permission for a new 110,000 sq ft mixed-use development at 40 Blackfriars Road, on the South Bank. Designed by architects Lifschutz Davidson Sandilands, the 15 storey development comprises a 68,200 sq ft hotel, to be operated by lifestyle hotel... Read More
Business leaders from twinned cities almost 6,000 miles apart have endorsed a unique agreement calling for greater trading ties between their commercial ports. The “Memorandum of Understanding” was signed during a visit to Bristol by representatives from the port authority at Guangzhou, the capital of the southern Chinese province... Read More
The value of Cadogan’s Kensington and Chelsea property estate has leapt to a new peak, the group’s Annual Report reveals. The results show that total returns for 2014 hit 17.2 per cent, contributing to a five year annual average of 15.9 per cent. Rental income increased by 6.5 per cent to £119.9 million, while the value of the... Read More
The public-private partnership behind a £120m Worcestershire technology park says the scheme has moved a step closer with the start of vital highways improvements. Worcestershire County Council and Birmingham-based developer Stoford have teamed up to deliver more than 1.5m sq ft of mixed business accommodation close to Junction 6... Read More
One of the North of England’s biggest property and regeneration companies has secured a third letting for its flagship logistics park. American-owned mining equipment company, Joy Global, is moving from its present base at Ince, near Wigan, to Harworth Estates’ massive Logistics North development at Bolton. Budget retailer Aldi and... Read More
A report from DTZ shows that European logistics and industrial take-up increased by 6% in Q1 2015 compared to last year. A total of 3.8 million square metres of industrial space was leased in the first quarter of 2015 due to high demand for European logistics and industrial space. According to the report, retailers and industrial... Read More
Unibail-Rodamco, Europe’s leading listed commercial property company, has today announced that its Mall of Scandinavia development - located just seven minutes from downtown Stockholm - is over 95 per cent pre-let, five months ahead of its opening on November 12. The announcement follows three major new lettings to occupiers eager... Read More
Hammerson has exchanged an agreement with South Oxfordshire District Council to extend its existing 2011 development agreement for the expansion of Didcot’s Orchard Centre. The £50 million mixed-use extension will add an additional 150,000 sq ft to the 200,000 sq ft retail and leisure destination which opened in 2005. The... Read More
Global real estate services group, Colliers International, has been appointed to dispose of three of Scotland’s castles. The trio of historic sites — together valued at more £10m — are being sold by location hire company AmaZing Venues. “It’s not often that we see properties of such great historical significance come to... Read More
Mitsui Fudosan UK has today confirmed that it has increased its equity share in the first phase of the redevelopment of Television Centre in White City, west London. Mitsui Fudosan now holds a 75 per cent stake in the asset, with Albert Investment Management Corporation (AIMCo) holding the remaining 25 per cent. The joint stake... Read More
SEGRO has completed three new lettings at its Metropolitan Park Estate in Greenford, West London. In addition, an existing occupier has renewed its present lease at the industrial park where almost 150,000 sq ft has been let since 2014. The largest deal involves Mediterranean cuisine specialist Millennium Foods taking 19,019 sq ft of... Read More
Global commercial real estate services firm DTZ, has appointed Danny Kinnoch as a director of its EMEA International Capital Markets team. Danny has15 years’ experience working with pan-European investors and will become an important addition to the team with his strong network of family office, private equity and institutional... Read More
