A surge in investment and occupier demand points towards continued economic growth throughout the remainder of the year, according to the Royal Institution of Chartered Surveyors (RICS). The claim comes after the publication of the latest RICS UK Commercial Market Survey, which records the highest occupier activity since 1998. It also... Read More
Last week The Leadenhall Building, popularly known as The Cheesegrater, was in the headlines after independent shipping broker Affinity agreed terms on a record breaking City rent for Level 44 of the Rogers Stirk Harbour designed office tower. Now, joint owners British Land and Oxford Properties have announced a new initiative to yield... Read More
During the 1730s Britain’s Prime Minister, Robert Walpole, guided two pioneering Property Acts through Parliament. Almost three centuries later both pieces of legislation — that allow landlords to charge tenants overstaying their welcome double rent until they vacate a property — are just as valuable, claims a leading property... Read More
A multi-franchise North-East car dealership has purchased the last unit on Opus North’s Preston Farm Industrial Estate complex on Teesside. The Jennings Motor Group, which also owns an adjacent unit, paid an undisclosed sum for the 93,000 sq ft Opus Park site located in the centre of Stockton’s biggest trading estate. Developed by... Read More
The 60-mile corridor between London and Cambridge could generate as many as 14,000 new life science jobs by 2023, according to recent research. Produced by the London Stansted Cambridge Consortium (LSCC), the report predicts that total life sciences employment — science jobs involved in the study of living organisms — could rise to... Read More
DTZ has announced that Stuart Dorward has been appointed as Business Manager for Scotland with immediate effect. Mr Dorward (pictured) will assume overall responsibility for DTZ’s Glasgow and Edinburgh offices, which serve the real estate services company’s Scottish regional business and its global clients active in the... Read More
London Metric Property has announced that the Metric Income Plus Limited Partnership (MIPP), its joint venture with the Universities Superannuation Scheme, has sold its Lichfield retail park to Mayfair Capital for £13.3 million. The sale reflects a net initial yield of 5.8 per cent, rising to 6 per cent in June. The 44,800 sq ft... Read More
The British Fashion Council (BFC) has announced that this year’s London Fashion Week will be staged in Soho, in a move designed to place the event in close proximity to major retail spaces and increase its footprint across the capital. For the spring/summer 2016 event - which will take place between 18-22 September - the BFC will... Read More
The Great Wigmore Partnership (GWP), the 50/50 Joint Venture between Great Portland Estates and Aberdeen Asset Management, has announced the sale of 95 Wigmore Street in a combined deal worth £224 million. The sale reflects a net initial yield of 3.4 per cent and a capital value of £2,209 per sq ft. The newly constructed 98,800 sq ft... Read More
Drum Property Group has announced that it has submitted a planning application to Aberdeen City Council for the construction of a new healthcare property at Prime Four Business Park in Kingswells. The 45,000 sq ft wellness centre will be operated by the One Healthcare Group and will provide state-of-the-art facilities for a range of... Read More
Catalyst Capital, the European real estate and asset management company, has started work on the refurbishment of an historic Manchester city centre office block — once used by Winston Churchill for Second World War strategy meetings. London-based Catalyst bought Arkwright House early last year for £11m and immediately announced... Read More
Default rates on US commercial real estate loans that back complex bonds slipped to a six-year low in 2014, as a combination of lower borrowing costs and the economic recovery helped to keep the market afloat, the FT reports. Defaults on commercial mortgage-backed securities (CMBS) climbed at a steady rate in the wake of the financial... Read More
Two trading estates have been acquired by companies attempting to strengthen their Scottish portfolios. The deals — in the country’s national and industrial capitals — are worth more than £14m. In Edinburgh, Aviva Insurance has paid Prestonfield Development Company (PDC) £9.6m for a multi-let industrial estate, close to the... Read More
While the economic performance of major cities such as London, Birmingham and Manchester makes the headlines, a new study has revealed that all three have been knocked down the ladder in terms of the number of overseas sales they accumulate. Instead, the nation’s exporting crown goes to Bradford in West Yorkshire, which currently boasts the... Read More
Commercial property investors are being advised to look towards the Indian market for a regular cash flow in 2015. The advice comes from JLL India’s Chairman and Country Head Anuj Puri who says that, while residential property may be over-valued in some areas, commercial property is still quoting below its 2008 high, meaning that... Read More
Birmingham continues to attract an influx of upmarket brands in the leisure, retail and hospitality sectors, with the latest being celebrity chef Marco Pierre White. The TV chef will next month debut his Marco’s New York Italian brand at Birmingham Airport’s Holiday Inn hotel, replacing the current Grill Room restaurant. At... Read More
The combination of rapid urbanization and increased consumer spending power, Africa offers lucrative opportunities for investors looking to get exposure to both retail and office developments on the continent, Africa Property News reports. According to Gary Garrett, the Head of Real Estate Finance at Standard Bank, some leading African... Read More
A Curzon Capital Partners’ (CCP) fund — advised by Tristran Capital Partners — has paid £33m to take control of a trouble-hit south London shopping centre from the Co-operative Bank. Acquired in conjunction with shopping centre investor Ellandi, which will act as asset manager, the Priory Centre in Dartford town centre is the... Read More
In 2014, construction firms completed 600,000 sq ft of retail development in Central Florida, and national commercial real estate firm Marcus and Millichap anticipates that an additional 900,000 sq ft will be added by the end of this year. With attractions like Walt Disney World (pictured), Universal Studios and SeaWorld expanding... Read More
York planners are considering a scheme to convert an empty office block into an extension of the city’s only five-star hotel. The £15m two-year project would add another 107 bedrooms to the Grade II listed Grand Hotel & Spa — formerly the Cedar Court Grand — in York’s Station Rise. Acquired last year by the Splendid... Read More
While the daily commute may be a fact of life for many, a new study by Canary Wharf Group finds it is having a negative impact on the wellbeing of London office workers. As a result, the group has teamed up with colour consulting agency mycoocoon to deliver a colour therapy installation allowing Londoners to see what life might be like... Read More
British Land and Oxford Properties have announced that independent shipping broker Affinity has agreed terms on Level 44 of The Leadenhall Building, for a record breaking City rent of £90 per sq ft. The deal for the highest available floor of the 'Cheesegrater' smashes the previous City of London record set by the same office tower... Read More
