New York based SHoP Architects have joined forces with West 8 to design a ten acre, four block urban campus, which they believe could help position Miami as Florida’s Silicon Valley. The Miami Innovation District, which is expected to receive full city approval later this year, will provide 3,850,000 sq ft of world-class office... Read More
The Crown Estate has announced the promotion of Hannah Milne to head its £2.2 billion Regional Portfolio. Previously Regional Portfolio Manager, she will take over the position currently held by James Cooksey, who has been promoted to the newly created position of Head of Central London. Both appointments come into effect on 1... Read More
Two independent property consultancies — operating 18 offices between them — have changed hands in two separate deals. Maxwell Brown Surveyors (MBS), which employs eight people at its Reigate, Crawley, Leatherhead, Kings Hill and Croydon offices, has been acquired by the Altus Group. One of Canada’s real estate giants, the firm... Read More
Joint venture partners, Sladen Estates and Peveril Securities, have bought a key site opposite Nottingham railway station for an undisclosed sum. The developers say they will now press ahead with plans to build up to 460,000 sq ft of offices on the land. A previous £70m scheme was granted outline planning permission for the Unity... Read More
Mitsui Fudosan UK Ltd and development partner Stanhope have appointed DTZ to market one of the few office schemes currently under construction in the City of London. DTZ joins existing agents GM Real Estate in marketing the 300,000 sq ft Angel Court, which is expected to be completed in the third quarter of 2016, in a prime location... Read More
Land Securities has announced the completion of the final letting at Bishop Centre, Taplow its ‘next generation’ retail park in South Buckinghamshire. The tenth and final arrival is homeware and gift specialist HomeSense, which has taken a 10,000 sq ft unit at the 105,000 sq ft development. The latest occupier completes a tenant... Read More
The proposed redevelopment of the Blossom Street district will become a key factor in the economic success story of the Spitalfields area, the City of London Corporation claims. The scheme, to be delivered by British Land in partnership with the Corporation, will provide small business space, create jobs and boost local spending, says... Read More
International investment group, Aberdeen Asset Management, has sold a Tyneside retail park for £46.25m in an off-market deal. Newcastle Shopping Park, three miles from the city centre, has been acquired by M&G Real Estate. The London-based M&G group is listed as one of the world’s top 25 real estate fund managers with more... Read More
The Standard Life Investments Heritage With Profits Fund has secured deals with supercomputer company Cray UK Ltd and online food ordering service JUST EAT, to take a combined total of 18,000 sq ft at Bristol’s Broad Quay House. Cray UK, a global leader in supercomputing, has signed a five-year lease for the 8,000 sq ft ground floor... Read More
The UK’s leading regeneration specialist St Modwen, says that the sustained improvement in the regional commercial and residential markets, along with achieving a major project milestone, are the factors behind its strong first half of the year. In a trading update issued today, covering activity during the six months to 31st May,... Read More
Sterling Property Ventures and Rockspring have resubmitted a planning application for the demolition of Birmingham’s NatWest Tower and its replacement with a 26-storey office block. In March council planners deferred the application, saying they needed reassurance that the plans for the new scheme would be formally submitted before... Read More
LondonMetric has reported a 27 per cent leap in profits on the back of a strong portfolio performance in the year ended 31 March. The retail and distribution property specialist saw profits jump from the 2014 total of £125.3 million to a whopping £159.5 million as gross rental income increased by 19.5 per cent, helped by 50 occupier... Read More
The biggest real estate investment trust in America is believed to be the front runner among four potential buyers in the €1bn (£718m) sell-off of Ireland’s largest shopping centre. Simon Property Group — which owns more retail centres and malls in the United States than any other property company — is known to have carried... Read More
Following the recent acquisition of New Look’s Newcastle-under-Lyme distribution centre, Tritax Big Box has added another major asset to its growing portfolio. Today, the real estate investment trust (REIT) has announced that it has exchanged contracts on the Tesco Regional Distribution Centre at Capital Park, Goole for a purchase... Read More
Women’s fashion retailer Glamorous is set to join the occupier line-up at Manchester’s intu Trafford Centre, demonstrating the importance of independent stores within the world class retail mix. Glamorous is taking a 1,900 sq ft unit on a 10 year lease on the upper mall, where it will join existing tenants Lipsy, Claire’s... Read More
London’s creative and technology-led businesses are outgrowing their traditional city centre tech-hubs and moving to new locations on the outskirts of the capital, a new report claims. According to the Bilfinger GVA-published London and the Knowledge Economy survey pioneering firms and start-ups in the biomedicine, technology and... Read More
A little over a month after it paid £47.5m for an Ipswich retail park, Rockspring has spent another £36m to buy Abingdon Business Park from Standard Life Investments. The Oxfordshire park— which includes 393,000 sq ft of office and industrial space across five buildings — is the ninth asset to be acquired by Rockspring Property... Read More
Less than three weeks after it announced the acquisition of the 20-acre “First Street” site in Manchester, PATRIZIA has confirmed it is to build three new warehouse units at its jointly owned business park 20 miles away in Warrington. The German-headquartered PATRIZIA Immobilien, which owns Birchwood Park as a joint venture with... Read More
The results of CBRE’s latest Tokyo office survey conducted for April 2015 have revealed that the average expected yields in key locations in the city have declined across all sectors. They were lowest in the office sector, hitting a record low since the survey began in 2003 of 3.85 per cent. Expected yields for Tokyo’s central... Read More
Scotland was second only to London when it came to attracting Foreign Direct Investment (FDI), according to a new report by Ernst & Young. In its 2015 UK Attractiveness Survey the global services provider claims that Scotland attracted 80 separate foreign investment projects last year — the third successive year the country has... Read More
Cayan Group, a leading Middle Eastern real estate developer, and MEFIC Capital, a Saudi Arabian financial services company, have entered into an investment fund deal to construct a commercial tower on King Fahd Road in Riyadh. Cayan Group will act as the main developer on the project and will also be responsible for the sales and... Read More
The results of a recent survey conducted by accounting firm Marks Paneth reveal that the majority of New York property executives feel that commercial real estate values are cresting. More than half (54 per cent) of the executives surveyed said that commercial property values have reached the pinnacle of their climb, while close to... Read More
