A decade-long legal wrangle to recover the cost of bulldozing an “eyesore” Teesside office block has taken an unexpected turn after the site was acquired by an American drug manufacturer. The former ICI headquarters building on Billingham’s Belasis Avenue had suffered from vandal and arson attacks almost from the day it was... Read More
During the recession, a number of popular high street retailers entered administration and vanished from town centres nationwide. Fortunately, entertainment brand HMV was saved from this fate and has now seen its popularity skyrocket – in fact, it is poised to take over Amazon and reclaim its title as the UK’s number one entertainment... Read More
Just months after it picked up two prestigious design awards a £150m Tyneside retail development is now favourite to win this year’s Carbuncle Cup — for Britain’s most unattractive new building. In July Gateshead’s Trinity Square shopping scheme — which replaced the brutalist multi-storey car park immortalised in the... Read More
A company involving United legends Ryan Giggs and Gary Neville is in negotiations with Manchester City Council regarding the joint delivery of a scheme of “regional importance” on a two acre plot currently occupied by Bootle Street police station (pictured), a Synagogue and the adjoining Sir Ralph Abercromby pub. Jackson’s Row... Read More
A Cheshire city has been chosen to spearhead a pioneering national campaign aimed at filling empty retail premises and attracting shoppers back to struggling high streets. As part of the initiative — organised by Business in the Community (BITC) and backed by some of the country’s most successful firms — Chester will now receive... Read More
British Land has enjoyed a significant upturn in lease agreements since the end of the recession, with retailers and office based businesses actively seeking expansion. This has allowed the property firm to confirm six new lets at the Gallagher Retail Park in Cheltenham, which have taken occupancy rates within the development to 99 per... Read More
Investors pumped around £4 billion into the Central London office market during the second quarter of the year, according to figures from CBRE. Unsurprisingly, overseas buyers led the stampede, accounting for 69 per cent of total investment. Thirty three per cent of these were Asian investors, continuing the trend seen earlier in the... Read More
Savills has increased its involvement with a Midland’s manufacturing hub by negotiating the sale of a development plot and agreeing to market two new zones within the scheme. The Homes and Community Agency and Birmingham City Council, joint owners of the Advanced Manufacturing Hub in Aston, have sold the 6.7-acre plot to HydraForce... Read More
A report from PricewaterhouseCoopers LLP has good news for the US hospitality industry: It is on track to hit a 20-year high in 2015. The economy experienced a weather-related slowdown during the first three months of the year and then travel activity picked up noticeably in the second quarter, which resulted in... Read More
Balfour Beatty has been making the headlines of late, with news of its discussions regarding a merger with Carillion rarely attracting media attention. However, Balfour Beatty has not simply been focusing on proposed mergers but also keeping a keen eye out for upcoming projects, proven by the fact it has just been appointed to a multi-million... Read More
CBRE has published a research report entitled, U.S. Tech-Twenty: Measuring Office Market Impact, which shows that high-tech employment growth has played a pivotal role in the recovery of the office market. It has also helped to generate rent increases in the double-digit range in eight markets over the past two years, including Austin,... Read More
Private investors in the Canadian commercial property market outstripped the country’s big pension funds in the last quarter, overturning the prevailing trend of the previous quarter. In the first quarter of 2014, pension funds dominated the market, accounting for 31.6 per cent of all investment, but their activity fell in Q2,... Read More
Councillors have refused plans to breath life into a moth balled shopping complex claiming its revival would damage city centre and neighbouring retailers just getting back on their feet after the recession. The site, on the Dublin Road just outside Limerick, was partially developed as Parkway Shopping Centre but abandoned when Liam... Read More
The largest local authority pension fund in Britain has made its second multi-million pound commitment to expanding its commercial property portfolio in less than two weeks — taking its investment cash pot to more than £1bn. Earlier this month the Greater Manchester Property Venture Fund — a sub-fund of the Greater Manchester... Read More
The European Regional Development Fund is providing almost half the money to transform a former Liverpool factory site into 40,000 sq ft of commercial space. Manchester developer Capital and Centric is using the £1.4 grant toward the construction of offices and warehousing on a 3.5-acre brownfield site off Speke Boulevard. The cost of... Read More
A study conducted by the Department for Work and Pensions (DWP) suggests that retailers could boost sales by making their properties more accessible to disabled people. According to the report, disabled people currently find locating accessible shopping opportunities difficult due to the lack of adaptations undertaken by retailers. As... Read More
Rumours that two of Britain’s biggest law and accountancy firms are considering relocating to Leeds have prompted one property expert to suggest its time the city moved its speculative office construction into high gear. Almost 141,000 sq ft of office deals were signed in the city during the first quarter of 2014. That was followed... Read More
During the recession, charities struggled due to a lack of donations from cash strapped consumers, with many relying upon their high street shops to ensure those in need received suitable help. Fortunately, with the economic recovery in full swing, many are finding that consumers have become more generous with donations yet are still... Read More
Any period of adjustment following Scotland’s independence could have a serious long-term effect on the Irish economy, economists in both countries have warned. With around one-million voters still undecided and the turn out for the 18 September referendum expected to be as high as 80 per cent, Ireland’s business leaders are... Read More
As the supermarket price war continues to rage on, the Big Four are increasingly finding discounters eating into their market share. Tesco suffered a further loss in the 12 weeks to the 17th of August, with the data from Kantar Worldpanel showing a further drop in market share making the retailer the worst performing major grocer in the... Read More
Shopping centre regenerations have become relatively commonplace in the UK since the end of the recession, with owners recognising a need to adapt to new consumer trends as a means of lifting footfall levels. However, while many involve significant levels of investment, few are as ambitious as the proposals for the Bircherley Green Shopping... Read More
Football fans, worried that the sale of club-owned land will “lock in the capacity” of their Premier League stadium are demanding an urgent meeting with developers. Newcastle United is in the process of selling the lease of a 1.6-acre plot of land adjacent to its St James’ Park Gallowgate stand. Although the exact price is not... Read More
