Office buildings in regional areas are becoming increasingly popular assets for property funds and firms as the number of start-ups in Britain continues to grow and expanding firms seek new premises. This has seen Legal & General Property snap up One Cathedral Square in Blackburn in a pre-sale agreement with Maple Grove Developments, with... Read More
One of Northern Ireland’s largest exhibition venues could be converted to office space, a hotel or even cinema complex, according to proposals issued to potential investors. Although the 1930s built Grade II listed King’s Hall building would remain, an invitation to would-be investors admits that much of the 16-acre Lisburn Road,... Read More
Although consumer confidence has improved massively in the past year or so, in Scotland it appears that shoppers remain unwilling to spend on their local high streets. This has seen total sales in February drop by 1.4 per cent year on year, raising concerns that not enough is being done to protect independent retail businesses north of the... Read More
2015 is set to be the year that commercial investors truly reap the benefits of the recovering market, with the improved economy and growing business confidence paving the way for wide scale growth in regional areas. In Swindon, this has seen an ageing office block snapped up at auction for well above the guide price as investors grab assets... Read More
Work has begun at Bellway Homes Thames Gateway Division’s mixed-use development, The Residence, in London's Nine Elms district. The firm recently completed the demolition of Christie's Auctioneers Storage Facilities which will now be replaced with two new 19 storey buildings including both residential and commercial space. The... Read More
After standing empty for two years, UK Land Estates has completed the refurbishment of a 46,000 sq ft Tyneside factory for a local engineering company. The regeneration is part of a wider multi-million pound refurbishment of the development company-owned Tyne Tunnel Trading Estate east of Newcastle. So far it has invested more than... Read More
British Land has announced that it is has completed a £733 million exchange of its joint venture properties with Tesco. Under the terms of the deal British Land has sold its 50 per cent interest in the joint venture portfolio, which comprises 21 foodstores, to Tesco and in return has acquired Tesco's 50 per cent interest in two joint... Read More
More than three years after it first floated plans for the upgrade of a south-east London retail scheme, once dubbed the UK’s ‘worst shopping district’, regeneration specialist St Modwen has finally submitted a detailed planning application. Early in 2012, the Birmingham-based property owner and developer received overwhelming... Read More
Zurich-based investment foundation AFIAA has added to its Washington DC portfolio with the acquisition of an ‘exceptional’ building in the heart of Chinatown. Arch Square, which provides approximately 55,000 sq ft of office and retail space, is located at the corner of 7th and H Streets in a vibrant commercial district, less than a... Read More
The English Cities Fund's (ECf) New Bailey scheme was officially launched at last week’s MIPIM international property conference where it announced that architects Make and AHMM will be working on the next two phases of the development. Ecf – a joint venture between Muse Developments, Legal & General and the HCA - teamed up with... Read More
Savills, the industrial real estate advisor, is predicting the Spanish commercial property market is set to grow further in 2015. Last year, strong investment volumes were seen in the country’s office market where a total of €2.8 billion in transactions were recorded - triple the amount from 2013, when €990 million was... Read More
Birmingham City Council’s planning committee has today made the surprise decision to defer the application from Sterling Property Ventures and Rockspring to demolish 103 Colmore Row in the city’s business district. This will now delay the partnership’s plans to replace the 1970s skyscraper, which has been vacant since 2003, with... Read More
South Northamptonshire Council (SNC) has given the green light to a speculative warehouse project which could create as many as 450 jobs. The twin storage and distribution development — offering 304,000 and 162,000 sq ft units — will be built by developer Goodman on land previously known as Zone C at Grange Park, Northampton. One... Read More
According to DTZ, it is expected that rental growth in central London will hit double figures this year due to high demand and an under supplied market. Total availability in the office market has fallen by 27 per cent over the past year to 9.7 million sq ft, while the supply of new and refurbished office space dropped by 21 per cent... Read More
Several international operators are already queuing up to take on a controversial hotel next to Newcastle United’s St James’ Park stadium — weeks before a planning application is expected to be filed. If city planners eventually give the £47m complex adjacent to the stadium’s Gallowgate stand the green light it will bring an... Read More
Last week, retail mogul Sir Philip Green made the monumental decision to sell his underperforming BHS department store chain for only £1 to a consortium of little known financiers and lawyers operating under the name Retail Acquisitions. Now, it seems that the future of the chain lies in some doubt, with the new owners considering whether 52... Read More
Fiskars — Finland’s oldest company and one of Europe’s longest surviving businesses — has confirmed it is moving its UK headquarters in Birmingham. Established in 1649 as an ironworks in a small Finnish village, Fiskars is today better known as a global supplier of home, garden and outdoor products. It has now agreed to lease... Read More
Austrian investor and developer IMMOFINANZ Group has demonstrated its commitment to increase its activity in the German market, with the announcement that it has broken ground on FLOAT, a new office complex in Düsseldorf. The symbolic spade cut for the high-profile building - designed by Shard architect Renzo Piano - was made... Read More
For over two deacdes, Sheffield’s Meadowhall Shopping Centre has been one of Yorkshire’s top retail destinations and, to celebrate the centre’s 25th birthday, owner British Land has announced a mammoth £50 million investment into an internal refurbishment designed to improve the facility for both tenants and shoppers. The works... Read More
At a parliamentary reception, the UK's largest industrial landlords have warned that the shortage of new industrial property will cause long term obstacles on the path to economic recovery. According to research from the British Property Federation (BPF), there is less than a years’ worth of Grade A supply on the market at the... Read More
A North-East theatre company is investing more than £10m in a riverside commercial development to help it survive future grant and funding cuts. Newcastle’s 1973-founded Live Theatre has so far spent millions of pounds buying up buildings and land adjacent to its Quayside venue. In the first speculative office scheme to start on the... Read More
While many areas are enjoying a resurgence in commercial property activity, it seems that South Wales is benefiting more than most. Thanks to a huge media presence in Cardiff and the growing prowess of the region’s manufacturing industry, 2014 was very successful and industry experts predict that the future will only get brighter as 2015... Read More
