The specialist agency hired to sell off Manchester's historic London Road Fire Station claims the city’s international standing is helping to attract potential buyers from around the world. Christie & Co is handling the sale of the controversial site following years of redevelopment delay which culminated in a legal wrangling... Read More
Preston Council and Muse Developments have promised to create a vibrant retail and leisure quarter to improve the current city centre offering. Muse Developments will be responsible for the delivery of a new cinema which is expected to prove immensely popular and draw in visitors from the surrounding area. In order to create space for... Read More
The independently-owned private equity fund, Clearbell Capital, has been given the go-ahead to build four industrial units at an Aberdeen business park. All four units — of 100,000, 39,000, 27,000 and 26,000 sq ft — will be speculatively built at The Core, a 100-acre mixed use estate at the Bridge of Don, near Aberdeen. Planned for... Read More
Guernsey based UK Commercial Property Trust (UKCPT) has disposed of 176-206 Kensington High Street and a retail asset in Brighton for a combined sum of over £80 million. The Kensington asset, comprising 57,000 sq ft of ground floor retail space and 108 flats, was acquired by a private buyer advised by CBRE. Existing tenants in the... Read More
Development Securities has completed the purchase of two retail investment assets, with joint venture partners Clarendon Properties, in a €12.8 million deal. The latest additions to the Development Securities portfolio, Nutgrove Retail Centre and Beacon South Quarter, are located in suburban Dublin and offer a number of asset... Read More
Prime office rents in Bristol city centre have increased by 4 per cent, the latest research from Colliers International reveals. The findings show that rental growth throughout the UK averaged 6.5 per cent year-on-year during Q2 with strong expansion recorded in many regional CBDs. However, it is Bristol that is closest to joining... Read More
Redevco — one of Europe’s largest investment managers of high street property — has paid more than £50m for a 1.3-acre site in the centre of Brighton’s shopping district. The Hanningtons Estate’s plot was once occupied by the city’s biggest department store. The Amsterdam-headquartered company’s UK acquisition... Read More
Taxi bookings firm Uber is relocating from its current London headquarters to Aldgate Tower in the City fringe, doubling the size of its London office space. Uber will take 40,000 sq ft at Aldgate Tower after it vacates its 20,000 sq ft office in King’s Cross. The firm was advised by BNP Paribas Real Estate, which believes the... Read More
International construction services company ISG has been awarded the £12 million contract to deliver a new dining quarter at the heart of Exeter. ISG will spearhead the Aviva Investors’ scheme designed to boost the leisure offering in the city centre. It will create space for a large number of high specification restaurants within a... Read More
According to research by the international real estate advisor, Savills, there has been a clear increase in demand from bulky goods retailers — with 20 brands currently seeking new units. The service provider’s latest UK retail warehouse bulletin reports that along with established retailers such as Wickes, Dunelm and Furniture... Read More
Regional markets continue to enjoy strong demand for commercial property, with the economic improvements and increasing desire to “reshore” on the part of industrial firms aiding in the process to rebuild local economies following the recession. This has been particularly prevalent in Cheshire East, where a number of deals in a variety of... Read More
Tritax Big Box REIT is to invest £43.43 million into the development of a Stoke-on-Trent distribution warehouse for soft furnishings retailer Dunhelm. The real estate investment trust has completed the land purchase and entered into a forward funding agreement to deliver the 526,426 sq ft facility at Prologis Park Sideway, two miles... Read More
Hermes Real Estate Investment Managers has confirmed it has secured its first letting at its recently refurbished Pearl building in the centre of Newcastle. The addition of an extra 36,000 sq ft comes as one leading agency says that a “serious lack of space” in the city will almost certainly push up rents. Once the home of an... Read More
Work is finally underway on the long awaited South Bristol Link Road, providing a potential lifeline for commuters, visitors and the local business community. And, by balancing the city’s North-South divide, it will provide a shot in the arm for South Bristol’s rapidly recovering commercial sector. This is the view of property... Read More
The National Association of Realtors’ (NAR) quarterly commercial real estate forecast predicts a gradual increase in demand in the US commercial market over the next year. National office vacancy rates are expected to decrease slightly (0.1 per cent) as the demand for office space gradually improves. Industrial vacancy rates will... Read More
Real estate developer Nakeel has announced that it has secured commitments from close to 100 restaurants and shops at The Pointe, its new 1.4 million sq ft waterfront complex currently under construction at Palm Jumeirah in Dubai. The Pointe will provide a cosmopolitan restaurant offer, with confirmed occupiers including Russo’s... Read More
Mizrahi Developments chose the recent Toronto Design Review Panel to unveil the latest images of its 80-storey mixed-use skyscraper The One, which could become Canada’s tallest building. The proposed 1,080 ft tall retail and residential tower, on the corner of Yonge and Bloor Streets in the heart of midtown Toronto, is being designed... Read More
The Cube, the landmark mixed-use development in Birmingham city centre, is to be put up for sale with a £60 million price tag, say reports from the city’s media. Although there has been no official confirmation from London-based owners Tristran Capital Partners, Birmingham newspapers the Post and the Mail say they understand that... Read More
Real estate services provider, Savills, admits it is expecting “worldwide interest” in a trio of premier office buildings it is selling on Glasgow waterfront. The agency — which is looking for offers in excess of £62.5m for the Atlantic Quay properties — says a number of UK and overseas funds have already expressed an interest... Read More
Stanhope and Mitsui Fudosan have completed the purchase of the BBC’s Media Village in west London, which will now be known as White City Place. Under the terms of the agreement, the BBC will receive £87 million for the sale of four acres of freehold land and the lease of six buildings on the site. The BBC will continue to occupy... Read More
After the most successful year for the Romanian investment market since the global crisis — with more than €1.15bn (£845m) invested in the property market — Knight Frank has confirmed it is formalising its agreement with its Bucharest-based partner. The London-headquartered global consultancy entered the Romanian commercial... Read More
As the economic recovery gathers strength in the Midlands, many industrial and warehouse occupiers are looking for larger premises to expand their operations. However, they are frequently held back by the lack of existing building supply and development land. This is certainly the case in the Northamptonshire town of Wellingborough... Read More
