Work will start next month on the refurbishment of an office building close to Birmingham’s business district. The eight-storey Temple Street block has been empty for more than six years. The 40-week facelift will cost £4m and bring the 38,000 sq ft of office space within the Freshwater Group owned 10 Temple Street up to Grade A... Read More
Earlier this week, the news that Tesco had posted its worst ever set of results and has been forced to write down the value of its property portfolio shocked retail industry watchers. Now, as the fallout continues, analysts are debating ways in which the group could begin to recoup some of its losses, with retail analyst Mike Dennis of... Read More
A Tyneside commercial agent has launched a hunt for an investor to take on the redevelopment of a former cocktail bar — just yards from its own Newcastle Quayside offices. The chance to convert the five-storey building into offices, a retail complex or revive its leisure use is being offered by Knight Frank as part of the city’s... Read More
Global asset manager, Carlyle Group, has sold its award-winning office block in the centre of Edinburgh to Rockspring’s UK Value Two Fund for £56m. The property is the eighth British asset acquired by the fund and brings its holding to £260m. The Scottish retail and business space specialist, Eric Young & Co, acted for the... Read More
Hammerson has completed the sale Drakehouse Retail Park in Sheffield to 90 North Real Estate Partners in a deal reportedly worth £61.7 million. The 226,000 sq ft retail park is fully let to occupiers including Homebase, Currys, Wickes and B&M. Hammerson Chief Executive, David Atkins, says the company will reallocate the capital across... Read More
Newham Council claims that as many as 20,000 new jobs will created following its decision to back a 62-acre waterfront development at Silvertown Quays in the East End of London. The £3.5bn landmark development is intended to breathe new life back into the Royal Docks. The Silvertown Partnership (TSP), with the support of the... Read More
As growing businesses continue to seek premises for expansion, small to medium sized enterprises (SMEs) are facing an increasing struggle to find affordable office space to facilitate growth. This has been especially noticeable in Bristol, where a new study from commercial property specialist Bruton Knowles highlights the plight of the... Read More
The UK commercial property market continues to perform well even if the huge momentum seen last year has slowed somewhat, according to the latest results of MSCI Inc.’s AREF/IPD UK Quarterly Property Fund Index. The index shows that unlisted real estate funds were able to post a return of 2.5 per cent in the three months to March of... Read More
The shortage of ready-to-occupy office space in Manchester is likely to push rents to record levels, a new commercial survey has warned. Outside London, Greater Manchester was the best performing office market of Britain’s six biggest cities. Last year it saw a record take-up of 2.1m sq ft — its largest volume since 2001. But,... Read More
Lambert Smith Hampton has announced the acquisition of leading retail property consultant Tushingham Moore. Tushingham Moore is an established practice which represents a range of retailers, developers, institutions and private investors throughout the UK, including over 50 shopping centres and a large number of high street... Read More
Although analysts have recently forecast an upturn in Tesco’s fortunes, the group’s annual trading results released today reveal that the supermarket giant suffered the worst year in its history, having posted a mammoth pre-tax loss which necessitated a write down of its property values and the halting of any store expansion plans in the... Read More
Six years after opening its first Manchester operation, Roomzzz Aparthotel has confirmed its second site will be in the city’s iconic Corn Exchange. The Grade II listed building is currently undergoing a £30m redevelopment. Part of the Parklane Group, the Corn Exchange scheme will also be Roomzzz’s second historic site with its... Read More
British Land has announced that social media giant Facebook has signed an Agreement for Lease at 338 Euston Road, expanding its presence at Regent's Place. Facebook will occupy the fifth floor of the building, along with floors nine to sixteen and a ground floor events space totalling 66,000 sq ft. This is in addition to the 87,000 sq ft... Read More
Canadian high-performance outdoor clothing brand Arc'teryx Equipment is to open its first store in Europe in London's West End. As part of a limited international expansion, Arc'teryx has taken the last two retail units of The Crown Estate and The Healthcare of Ontario Pension Plan’s £100 million Eagle Place development between... Read More
Logistics company Gerry Jones Transport, has acquired one of the largest available industrial properties in the South Wales Valleys, Bilfinger GVA reports. The 8.5 acre site, which includes a 105,700 sq ft warehousing and storage facility, is on the Tararnaubach Industrial Estate in Tedegar. The family-run logistics firm, which is... Read More
Evolution Money, has taken 11,676 sq ft of office space at 9 Portland Street in Manchester city centre, DTZ has announced today. DTZ acted on behalf of London & Scottish Investments in the deal which has seen the rapidly expanding loan provider take the entire third floor of the Grade II listed period building. The news follows... Read More
Prominent UK based commercial, residential and mixed-use property developer Spicer Oppenheim has today announced it has been granted planning permission for a 1 kilometre bridge spanning the Neva River in St Petersburg, Russia. They will also build the new the MediaCity development and a major mixed use leisure complex providing a... Read More
One of the world’s leading international development consultancies is set to double the size of its Oxford headquarters after signing the biggest letting deal the city has seen in two years. Oxford Policy Management (OPM) will later this year move its staff from its St Aldates base to its new global head office in Clarendon House, in... Read More
Multi-award winning regeneration company Urban Splash has this week begun work on the redevelopment of Stubbs Mill, its latest scheme in Manchester. Stubbs Mill, a former machine works within the New Islington regeneration area, will be transformed into a 30,000 sq ft flexible canalside workspace in conjunction with construction company... Read More
Urban regeneration specialists THAT Group have submitted a planning application for the mixed-use transformation of a row of empty stores in Bristol’s Clifton Village. The privately owned property group initially proposed the plans for 2-16 Clifton Down Road last summer. The plans would have brought a number of refurbished retail... Read More
Work has started on a third British depot for German-based parcel delivery company DPD (UK). All three are being designed and delivered by regeneration specialist St Modwen. With construction well underway on two other distribution hubs at Skypark in Exeter and Etruria Valley near Stoke-on-Trent, the latest £12m project is being built... Read More
The hotel sector has seen a big upturn in investment in recent times with a growing number of sales and developments reported across the country. In Liverpool this includes the news that the Beatles themed Hard Day’s Night Hotel is being offered for sale for £11 million while another, celebrating the legendary Liverpool FC manager... Read More
