Government plans to scrap the right of local authorities to seek exemption from the office to residential conversion scheme threatens to take millions of square feet out of the London market. The scheme, which allows landlords to convert office space into residential accommodation without seeking planning permission, was introduced... Read More
Second home owners exploiting an anomaly in the business rates system have been accused of taking part in a tax avoidance scheme by a rating expert. The claim comes in an Independent exclusive which has unearthed evidence of householders ‘flipping’ property from residential to commercial in order to avoid paying council tax by... Read More
The Cambridge Satchel Company has become one of the most successful retail start-ups in the UK of recent years. Established in 2008 by Julie Deane, the brand’s profile has risen dramatically and its profits have now risen high enough to allow for a flagship opening in one of London’s most desirable retail destinations. Thanks to a... Read More
China Vanke Co., China’s biggest developer in terms of sales, has announced it has agreed to enter into a joint venture with Carlyle Group which will buy nine of the company’s commercial properties. Carlyle Asia Investment Advisors Ltd. (Carlyle) will have an 80 per cent stake in the “asset platform company.”Vanke will control... Read More
The Centre for Entrepreneurs is calling upon local authorities to do more business with small businesses. According to data compiled by the Centre’s campaign partner Spend Network, in the past three years a total of £9.9 billion has been spent by local authorities purchasing from 20 national suppliers. By comparison, 78,000 small... Read More
Overseas investors have been flocking to Australia, resulting in an “unprecedented”60 per cent surge in capital entering the commercial property market. Foreign buyers have spent $5.9 billion in the last financial year, according to Savills Australia. In the preceding 12 months, the amount spent was $3.5 billion. Sixty seven per... Read More
GeoSim, an international technology firm with offices in Vancouver, Warsaw and Tel Aviv, has developed an interactive digital 3-D model of downtown Vancouver. The 14-year-old company says it could change the way that commercial real estate agents, developers, landlords, and businesses serve clients and customers. The Virtual Vancouver... Read More
Following Land Securities’ promise to place street food on the menu of its mixed-use scheme in Victoria, comes the news that the developers of Battersea Power Station are planning to go one better – by constructing a ‘street food market in the sky.’ The idea is part of the ambitious redevelopment plans for the 42 acre site... Read More
In recent years, larger retailers have begun to press the government to relax Sunday trading laws which restrict the hours they can open. However, a study by retail ecommerce firm Shopatron has revealed that not all of the country’s leading retailers would support a change in legislation. Although both Asda and Morrisons have thrown... Read More
As the consumer environment continues to improve, local authorities are increasingly courting private developers and investment firms as a means of enhancing the variety of leisure and retail offerings within their regions. This has seen Darlington councillors approve the creation of a £30 million leisure development within the town centre... Read More
There has been a high level of interest shown in acquiring New Scotland Yard since it was confirmed on Monday that the Metropolitan Police Headquarters is for sale. Despite Berkeley Group boss Tony Pidgley declaring that he ‘wouldn’t touch it with a bargepole,’ it is reported that numerous inquiries have been received for the... Read More
Selfridges throws open the doors of its new in-store cinema today in what is believed to be a world-first for a department store. The landmark Oxford Street branch of the 105 year old retailer has teamed up with Everyman Cinemas to launch the venture on its lower ground floor. It will remain in situ until next spring, showing a variety... Read More
Since 2010 the Government has sold off more than 1,200 publicly owned buildings and chunks of land. Now, to accelerate its real estate slim-down, it is launching an interactive map to help investors and developers discover “underused” land or property. For the first time companies and individual can search the Government’s vast... Read More
Manchester’s Chancery Place office building has been sold to NFU Mutual in a deal worth close to £60m. The 15-storey city centre tower, in the Upper King Street Conservation Area, was designed by award-winning HKR Architects and was completed in 2008. It provides 106,000 sq ft of contemporary office space, and is home to tenants... Read More
The UK’s leading property company, Land Securities, has promised that its flagship Victoria development will be ‘a real mixed use scheme’ catering to the ‘growing needs of office workers' - and food is at the heart of it. Nova will provide 726,000 sq ft of retail, residential and office space on a site opposite Victoria... Read More
Development Securities has acquired the Borough Parade shopping centre in Chippenham from a joint venture partnership between Clearbell Capital LLP and Tristan Capital Partners. Development Securities paid a little over of £16 million for the 87,000 sq ft centre, which currently boasts Waitrose and New Look as its anchor tenants.... Read More
Birmingham office property is in demand as the supply of top quality space sinks to its lowest level in over a decade. This has seen an increased amount of market activity as domestic and overseas investors compete for opportunities in the city as economic confidence returns. One of the latest deals to be announced is the acquisition of the... Read More
A and J Mucklow — the largest Stock Exchange listed investment property company in the Midlands — has reported a 150 per cent surge in its annual profits. 81-year-old firm, which went public in 1962, has also seen the value of its portfolio increase from £262.7m to £298.9m over the 12 months to the end of June. Publishing its... Read More
Eight years ago, the closure of Humbrol’s model making factory in Hull led to a dip in employment in the region and left a major industrial unit in a state of disrepair whilst talks took place regarding its future. Fortunately, a solution was found and this week the new redevelopment of Marfleet Environmental Technology Park officially... Read More
A stream of high-profile autumn deals is expected to drive the Northern Ireland commercial property market at a “lively pace”, according to a CBRE survey. A combination of prestige properties coming to the market and banks clearing their property loan books as part of their “deleveraging strategy” will keep all sectors of the... Read More
The question of how to cope with the UK’s need for additional airport capacity has been one of the most contentious issues facing politicians of late, with owners of both Heathrow and Gatwick airports each pushing the Government’s Davies Commission to vote in their favour. This week, it has emerged that these two proposals are now... Read More
Since the end of the recession the manufacturing sector has been one of the most consistent drivers of growth, and has fuelled demand for industrial and warehouse property. However, the last few months have seen growth in manufacturing begin to slowdown causing industry experts to fear for the wider economic recovery. According to the... Read More
