Morrisons has been one of the worst casualties of the supermarket price war, with its late entry into the world of online retailing and emphasis on providing fresh produce rather than lower prices both turning consumers away at a rapid rate. However, despite yet another poor sales result, the brand claims it is “making progress” with its... Read More
During the recession, a number of development schemes around the country stalled due to a lack of funding. Now, as the recovery continues to intensify, a growing number of these projects are restarting, including a £30 million retail and leisure development in Stratford-upon-Avon town centre. Although a number of proposals for the... Read More
The London Assembly has unanimously agreed a motion calling on Mayor Boris Johnson to rethink his approach to tall buildings. The Assembly has expressed its concern about the impact on the London skyline of the 230 skyscrapers currently in the development pipeline, and has outlined the actions it would like the Mayor to... Read More
Cardiff City Council has unveiled a master plan to add more than a million square feet of commercial and retail space to a redesigned Central Square. The ambitious scheme — part of a regeneration partnership between City of Cardiff Council and local developer Rightacres Property — has been designed by architects Foster + Partners... Read More
Workers in the City of London have spoken of their fears after two steel bolts fell from the Cheesegrater, prompting emergency safety checks on the 47 storey office tower. The area around the base of the Leadenhall Building is cordoned off this morning while contractor Laing O’Rourke and structural engineers Arup carry out an... Read More
Saltley Business Park in Birmingham has been sold to new joint venture owners as part of the £146m sell off of Hansteen UK Industrial Property Unit Trust’s (HPUT) 42-asset portfolio. The West Midland’s commercial estate — situated north of the city and which generates almost £5m in annual rent — was sold for £35.6m to... Read More
As consumers remain wary about excessive spending, shops are increasingly lowering their prices as a means of shifting stock and encouraging customers back through their doors. This has seen prices fall for the 18th consecutive month, according to new data from the British Retail Consortium (BRC). Unsurprisingly, supermarkets played a... Read More
The owner of what was once one of Manchester’s most prestigious business addresses has unveiled a multi-million pound upgrade to compete with nearby office schemes such as One St Peter's Square. Scottish Widows Investment Partnership (SWIP) acquired the six-storey 101 Barbirolli Square three years ago. It says a “significant... Read More
Marks & Spencer (M&S) has continued its poor trading form, confirming its 13th consecutive quarterly sales drop for the second quarter of 2014. The problem still appears to be with the M&S clothing line, which was the primary contributor to a like for like general merchandise sales drop of 4 per cent. As a result, half year... Read More
London made a £34 billion net contribution to UK public finances in 2013/14, supporting jobs and growth throughout the UK, a new report reveals. London’s Finances and Revenues report - produced by the Centre for Economics and Business Research (Cebr) and published by the City of London Corporation – finds that the capital... Read More
The UK’s leading supermarkets, already losing market share to discounters, face another blow due to the delayed business rates revaluation due to take place next year, a rating expert warns. According to analysts, members of the Big Four could face an increase of up to 40 per cent in business rates payments, when bills based on the... Read More
Birmingham is now Britain’s top regional location for city centre office transactions — breaking its quarterly average take-up for the first time in five years. In its latest Big Nine report, property consultants GVA claim the West Midlands’ city recorded a total of 156,202 sq ft of office space leased or sold during the third... Read More
Last Christmas was something of a disappointment for UK retailers as, although the recession was officially over and disposable income was on the rise, many consumers still felt the need to conserve cash wherever possible. However, following a year in which all areas of the UK economy experienced consistent growth, retailers hope that this... Read More
The pub industry has struggled hugely in recent years, with campaign groups such as CAMRA warning that the rate of closures remains high even in the aftermath of the recession. However, there are now signs beginning to emerge that a turnaround is in progress, one of which is the acquisition of the Spirit Pub Company by Greene... Read More
GG Hospitality — the property company owned by footballers-turned-developers Gary Neville and Ryan Giggs — has confirmed it is delaying the opening of its hotel venture by four months. Hotel Football, being built in the shadow of the former players’ Manchester United stadium at Old Trafford, was set to open its doors this month... Read More
The Yorkshire-based Oakgate Group is converting a 500-year-old building in the centre of York — reputedly the city’s most haunted property — into a high-end restaurant or retail premises. The timber framed medieval Grade II listed 35 Stonegate was acquired by international astrologer Jonathan Cainer in 1999. This summer he sold... Read More
The Scottish high street was one of the worst-hit victims of the recession, as the lower consumer spending power felt throughout the country was particularly pronounced north of the border. Yet fortunately, like most areas of the UK, Scotland is now beginning to recover from the worst financial crisis in decades, with the high street in... Read More
Manchester is becoming an increasingly popular destination for businesses, with the number of office developments beginning to climb within the Greater Manchester area providing affordable space for firms of all sizes to expand. This has seen office demand growing steadily, with property experts predicting that total annual take up will top 1... Read More
One World Trade Center opens its doors to tenants today, thirteen years after the twin towers were destroyed in the 9/11 terrorist attacks. The first occupier to move into the building is publisher Condé Nast, which has begun the process of relocating 3,400 staff from Times Square to floors 20 to 44 of the 104 storey lower Manhattan... Read More
Prologis — the global leader in industrial real estate — has signed a 420,000 sq ft build-to-suit deal with Eddie Stobart Logistics, one of Britain’s largest transport, storage and handling companies. The rail-connected facility will be constructed as the final second stage development of Daventry International Rail Freight... Read More
During August and September, the news coming from the manufacturing sector was less than optimistic. Due to a combination of problems in the Eurozone, a drop in domestic demand and the strong pound, output had significantly lessened since the boom period at the beginning of the year. Fortunately, though, October saw a positive return to form... Read More
A property developer is preparing to take on Playboy in a battle over a disputed London domain name. Michael Ross, a director of Surrey based CNM Estates, registered the address www.playboy.london when the Dot London Domain was launched last year. But his right to use the domain is being challenged by the American publishing giant... Read More
