The pub industry was one of the hardest hit areas of the economy during the recession, as consumers chose the supermarket over their local. And, it seems, this trend is one that is firmly embedded even following the recovery, with coffee shops now said to be replacing pubs as meeting places on the high street. According to... Read More
Grade A Alternative has confirmed it is the new owner of one of Manchester’s most iconic buildings. The serviced office provider completed the acquisition of St George’s House in June but has refused to say how much it paid for the Grade II listed property. Since the sale — Grade A purchased the 50,000sq ft property from a... Read More
Next has become one of the dominant retailers of the high street, with its fashion forward lines attracting consumers and allowing it to finally overtake key rival Marks & Spencer. And it appears that this winning streak is set to continue, as it has now managed to report its strongest half year growth for a number of years. The... Read More
A South Yorkshire city has been promised at least 400 news jobs and stronger links with Asia if planners give the go-ahead for a £65m Chinese-backed business incubator scheme. The New Era Square project has already attracted backing from a consortium of six investors from mainland China. If approved — for a site between... Read More
Shopping centres throughout the country are seeing huge levels of investment as owners seek to improve their appeal to retailers looking to expand. This has seen vacancy rates plummet, with recent data from the Local Data Company (LDC) and the British Council of Shopping Centres (BCSC) showing a much steeper pace of recovery than in town... Read More
A North-East development company has unveiled its latest office scheme aimed at kick-starting the re-development of a neglected industrial quayside. Partly financed by the European Regional Development Fund, the Homes and Communities Agency and the North-East Local Enterprise Partnership's North-East Investment Fund, the Blyth... Read More
Following yesterday’s news that investors in Scottish commercial property are being offered a get out clause on pre-referendum acquisitions, the question of whether or not Scotland will become an independent country is already having an impact upon businesses north of the border. Now, it appears RBS will follow insurance giant Standard... Read More
The property market in Bristol is buzzing with the number of transactions in the first half of the year the highest since 2005. In addition, a number of residential and commercial developments/refurbishments are currently underway to meet demand. As a result, the industry is actively seeking to hire new staff, and this has... Read More
The Whitbread Group has proven to be one of the strongest players in the leisure and hospitality industries in recent years, with expansion and investment into its subsidiary businesses becoming the cornerstone of its success. Now, its latest quarterly trading report has demonstrated that its star continues to rise, with both its Premier Inn... Read More
Since the financial crisis banks have been disappearing from high streets across the country, with the vacated properties often opening as cafés or bars. However, TSB has announced this week it will defy the closure trend, and will instead open 30 new branches in locations yet to be disclosed. The bank, which this time last year... Read More
As uncertainty about next week’s independence referendum grows, an increasing number of commercial property buyers are inserting “exit clauses” into contracts on Scottish deals, property experts are claiming. While the clauses would give buyers the option of pulling out of purchases or renegotiating prices there is also evidence... Read More
Fashion Week is one of the biggest events in the London calendar, with designers from all over the world converging in the nation’s capital to showcase their latest pieces. Attracting numerous prominent celebrities and fashion-forward visitors each year, surrounding retailers are able to take advantage of the buzz to the extent that... Read More
Less than seven months after it raised £1bn in a Stock Exchange offering Kennedy Wilson Europe has spent almost £300m on a cross-sector property portfolio. One of the biggest assets of the Fordgate Jupiter portfolio — sold through a commercial mortgage backed securities loan enforcement — is the 320,000 sq ft Regent Centre in... Read More
British Land is confident of leasing the remaining office space in the Leadenhall Building when it goes onto the open market next week. The joint developers of the £268m City tower, popularly known as the Cheesegrater, have spoken of the ‘incredible’ interest in the property, which was over 50 per cent pre-let before its recent... Read More
One of the UK’s largest property investment companies has added to its Salford Quays holdings by acquiring the Digital World Centre for an undisclosed sum. The Peel Group already owns a high-tech hub and a retail complex on the Manchester Ship Canal site. Located adjacent to Peel’s MediaCityUK the eight-storey digital centre was... Read More
The UK’s largest commercial property company, Land Securities, is hosting a click and collect trial at Hatfield’s 320,000 sq ft designer outlet, The Galleria. The initiative, launched this week in conjunction with leading online grocery retailer Ocado, will run for an initial period of six months. The move provides shoppers with a... Read More
All UK commercial property sectors recorded a weaker performance during August, according to the latest CBRE Monthly Index. Total returns were 1.4 per cent, largely driven by a 0.9 per cent growth in capital values, which have increased by 8.1 per cent to date during 2014. However, August’s figure marks a slowdown in the rise of... Read More
Frenchgate Shopping Centre in Doncaster has now commenced the second stage of its performance plan with a flurry of new lets, following the successful implementation of the three-stage strategy earlier this year. The new lets consist of a mixture of retail and leisure offerings, with brands as diverse as Poundworld, Greene King and... Read More
Manchester City Council will set out its plans for the future of the city centre today when a report by regeneration consultancy Ekosgen is published. Manchester: A Growing Success Story lays the foundations for a huge transformation project which aims to produce a projected £5.5 billion increase in the city’s contribution to the... Read More
Scotland’s commercial property market has been a little uncertain of late, with the upcoming independence referendum leading many investors to hold out until the future of the country has been established. Fortunately, there are many more who are keen to invest in the tourism and leisure market in particular, with a consortium of... Read More
UK businesses are facing a period of uncertainty, with the upcoming Scottish independence referendum and a proposed hike in interest rates compounding issues such as increasing commercial property prices and skills shortages in the country’s workforce. In turn, this has caused confidence to flag somewhat in recent months, with last month... Read More
Primark has become one of the strongest retailers on the high street, with its low prices and a wide choice attractive to consumers even during the depths of the recession. Fortunately for the brand, and parent group Associated British Foods (ABF), recovery has not seen its customer base turn to more expensive rivals, allowing Primark to... Read More
