The Duchy of Lancaster – a private estate owned by Her Majesty The Queen - has paid more than £10.5m for two units on a Merseyside business estate and is seeking further acquisitions to add to its portfolio. Both warehouses on the Estuary Commerce Park in Speke, totalling 175,000 sq ft of space, are held on long leases and will add... Read More
A recent study found that coffee shops and cafés are two of the fastest growing occupiers of high street property. Independent coffee shop Six Eight Kafé is looking to capitalise on this consumer demand by opening a new outlet at Birmingham’s Millennium Point – something which owners hope will lead to further expansion in the West... Read More
Planners have given the green light for a new logistics facility at Manchester Airport aimed at small to medium-sized occupiers. Construction work is expected to start within weeks. The £15m hub — located within Airport City Manchester — will be known as ALPHA. When completed early next year the 130,000 sq ft distribution building... Read More
Coast to Coast American Restaurant & Bar has joined the growing restaurant line-up at the £20 million leisure extension at intu Potteries. Coast to Coast, part of The Restaurant Group, brings the cuisine and tastes from the length of the Lincoln Highway, which spans the United States from New York to San Fransisco. It has... Read More
In another positive indicator for Birmingham's leisure sector, plans are currently in place for a 31 bedroom hotel in the Jewellery Quarter, which could see up to 40 new full and part time jobs created. Husband and wife team, and founders of Suburban Inns, Sharon and Adrian Harvey, are looking to get the hotel under way, which will be... Read More
An agent acting in the multi-million pound sale of a landmark Newcastle office building says the acquisition demonstrates the returning strength of the North-East commercial market. Bill Lynn, director and head of agency and investment at the ES Group’s Newcastle office, partnered a local DTZ team for the sale of the city’s St... Read More
A Heritage Lottery Fund (HLF) grant of almost £5m has underpinned the development of a luxury Belfast hotel — on the site where the plans for the Titanic were produced. The Harland & Wolff headquarters building and drawing offices on Belfast’s Queen’s Island were abandoned in 1989 and have become so neglected they are now... Read More
Aviva Investors has sold Camberley office building, Pembroke House to Signature Senior Lifestyle, who will be redeveloping the 1980s property into a care home. Lambert Smith Hampton (LSH) acted on behalf of Aviva in the £4.9 million sale. LSH advised Aviva that a residential based use would create a better return for the fund following... Read More
One of the country’s largest shopping centre owners, intu, has revealed details of plans for a large scale redevelopment of its Broadmarsh complex in Nottingham following a lengthy public consultation. The consultation found that consumers are seeking a greater mix of leisure facilities in the centre along with greater accessibility... Read More
The eagerly anticipated opening of Grand Central Birmingham is fast approaching, with the retail and leisure complex on schedule to open in September as part of the £600 million New Street Gateway development. Now that the final stage of construction has officially begun, centre owners and confirmed tenants are embarking upon a... Read More
Liverpool City Council has this week granted planning approval for a project which will add to the city’s office supply as well as providing additional retail, leisure and residential space. Costing around £90 million to deliver, the North Point project is spearheaded by developer PHD1 acting on behalf of investment client... Read More
AXA Real Estate plans to begin construction of a replacement for the City of London’s stalled Pinnacle office tower by the end of the year after taking over the contract in a deal reportedly worth £300 million. Developers Lipton Rogers have been appointed to deliver the building. Work came to a halt on the Pinnacle – which would... Read More
The leader of a Hampshire council has resigned after admitting he “must take responsibility” for what the High Court has ruled were “unlawful” decisions over a £165m shopping centre scheme. Prior to the High Court judicial review, the Conservative leader of Winchester City Council Robert Humby repeatedly refused to stand down... Read More
Buoyed by a rise in profits, Coalfield Resources (CfR) says it is pressing ahead with plans to take sole ownership of developer Harworth Estates. The property investment holding company currently has a 24.9 per cent share in the group. Although not spectacular, CfR has reported a profit from continuing operations of £3.5m for the year... Read More
As supermarkets fall further from favour with consumers, discounters including Aldi and Lidl and upmarket brands such as Waitrose are reaping the benefits by increasing their market share. However, a new study by business insurance broker Simply Business has revealed that it is not only chain brands that are enjoying a favourable uptick in... Read More
The Pan-European property investment manager Meyer Bergman has paid £300m for the Vinopolis site in London. It intends to build almost 200,000 sq ft of high-end stores on the plot next to the capital’s Borough Market. Meyer Bergman European Retail Partners II (MBERP II) has joined forces with niche central London developer Sherwood... Read More
Leisure parks are becoming increasingly strong sources of revenue as inflation remains low and consumers are left with more money in their pockets. As a means of capitalising on this, Basingstoke and Deane Borough Council has entered into a six month exclusivity partnership with retail property giant NewRiver Retail in order to transform... Read More
The chief executive of Britain’s third largest listed property company has written an open letter to the Chancellor claiming the current business rates system is no longer fit for purpose. David Atkins, chief executive of development and investment company Hammerson, has informed George Osborne that the current business rates are... Read More
After recently acquiring the building, family owned property company Bruntwood has submitted a planning application to Birmingham City Council for the £14 million redevelopment of Two Cornwall Street in the Colmore Business District. The plans, designed by Glenn Howells Architects, will provide approximately 110,000 sq ft of Grade A... Read More
A family-owned property company has added to its portfolio with the acquisition of a former Wincanton distribution site in West Yorkshire, and is anticipating that 2015 will be the best year in its history. In-site Property Solutions — which concentrates on assets in the north of England and the central belt of Scotland — bought... Read More
The Supreme Court has effectively brought to an end a legal campaign by retailers claiming that companies entering administration should be allowed to continue trading while defaulting on rent payments. One of Britain's biggest computer entertainment retailers, Game was challenging a February, 2014, Court of Appeal ruling that... Read More
Before the recession, footfall on Britain’s high streets could generally be counted upon to remain high in January as retailers launched sales to make room for incoming spring and summer stock. However, thanks to changing retail habits this is no longer the case, with last month seeing overall footfall at UK retail destinations drop by 1.2... Read More
