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Commercial Property News Posts


Land Securities’ 62 Buckingham Gate 96% let following Latest Deals

Posted on July 31, 2015 10:57 am by Chris Grigorovsky under Industry News

Land Securities has let a further 50,000 sq ft at 62 Buckingham Gate SW1, taking the occupancy rate to 96 per cent. The latest additions to the tenant line-up are leading Italian investment bank Mediobanca and international sport, entertainment and communications group Chime. Mediobanca will move to the fourth floor of the office... Read More


Trebor submits Plans for Industrial Facility at Flagship Redhill Business Park

Posted on July 31, 2015 10:06 am by Cliff Goodwin under Commercial Developments

Just three years after it received planning approval a council-owned Staffordshire business park has just two plots left undeveloped. Stafford Borough Council gave the go ahead for Redhill Business Park, close to Junction 14 of the M6 motorway, late in 2012.  Since then work has started on a major manufacturing plant and offices for... Read More

A replica of the original Grand Hotel sign takes pride of place on the restored Colmore Row façade.

Hortons’ Estate unveils restored Birmingham Landmark

Posted on July 31, 2015 8:30 am by Kirsten Kennedy under Commercial Developments

Hortons’ Estate has completed the £4.1 million first phase of the restoration of The Grand on Birmingham’s Colmore Row. Over the coming two months the wraps will be removed, exposing the ornate stone and marble façade of the building, overlooking St Philip’s Cathedral and Church Street, for the first time since 2003. A replica of... Read More


intu reports Strong First Half Performance

Posted on July 30, 2015 1:50 pm by Kirsten Kennedy under Business News

intu Properties has today issued its first half interim statement in which the group reveals a significant boost in net rental income and underlying earnings, bringing profit for the period to £262 million including a £162 million property revaluation surplus. Thanks to a series of acquisitions, including that of the Puerto Venecia... Read More


Mayor of London launches £20m High Street Innovation Fund

Posted on July 30, 2015 1:06 pm by Neil Bird under Business News

The Mayor of London Boris Johnson has today announced the launch of a £20 million fund designed to re-energise the capital’s high streets through creativity and technological innovation – and he has called for more affordable workspace to help small businesses prosper. The London Regeneration Fund will encourage local authorities,... Read More

Midlands Truck & Van’s new Bentley Bridge base, (left to right) Nigel Birkmyre, of Ballyvesey; James Richards, of Clowes, and DTZ’s Jonathan Robinson.

Mercedes Dealership drives onto extended Bentley Bridge Business Park

Posted on July 30, 2015 10:57 am by Cliff Goodwin under Business News

The second phase of a Wolverhampton business park which bucked the recession is underway with the completion of a build-to-suit commercial vehicle dealership. And the owners of the speculative development claim it is “fast heading towards being fully let”. Midlands Truck & Van’s new Bentley Bridge base, (left to right) Nigel... Read More


Canary Wharf Group welcomes UCL to One Canada Square

Posted on July 30, 2015 10:00 am by Cliff Goodwin under Business News

In what is describes as an “exciting addition to the world of business”, Canary Wharf Group has attracted a world-beating university to its docklands estate. During the next 12 months University College London (UCL) will wind down its existing department of Management Science and Innovation. Its replacement, a new School of... Read More

Marcol snaps up NI Shopping Destination for just £2m

Posted on July 30, 2015 8:30 am by Cliff Goodwin under Commercial Sales

Northern Ireland’s trouble-hit Lisburn Square shopping centre — built fourteen years ago for £23m — has been sold for just £2m. Its new owner, property investor Marcol, says it intends to turn the piazza-style development into a prestige restaurant and leisure venue. The Lisburn city destination was placed on the market by... Read More

INTERNOS Fund completes €33 million sale of Stockholm Office Building

Posted on July 29, 2015 4:05 pm by Kirsten Kennedy under Commercial Sales, Worldwide Property News

INTRENOS Global Investors has completed the €33.2 million (£23.5 million) sale of a Stockholm office building to Mengus Twelve AB on behalf of the EURO OFFICE 1 fund. The seven-storey property, located at Råsundavägen 18-20 (pictured) in the Solna sub-market of Stockholm, was constructed in 2002 and provides 10,141 sq m (109,156... Read More

Value of Capco’s Estates rises to £3.4 Billion

Posted on July 29, 2015 1:42 pm by Kirsten Kennedy under Business News

Capital & Counties Properties (Capco) has seen the value of its London estates rise by 9 per cent to £3.4 billion during the six months ending 30 June 2015. Much of this growth has taken place at Capco’s Covent Garden estate which, during the first half, rose in value by 9 per cent to £1.8 billion and saw a subsequent lift of 8... Read More

Scarborough Muir Group gets Green Light for Fife Scheme

Posted on July 29, 2015 11:32 am by Chris Grigorovsky under Commercial Developments

Scarborough Muir Group Limited (SMG), a joint venture between Scarborough Group International and Muir Group, has announced today that it has received outline planning consent from Fife Council for its four acre commercial development site in Dalgety Bay. The 16,850 sq ft development will comprise an Aldi store, a drive-thru coffee... Read More

2016 set to be a ‘Challenging’ Year for Occupiers in London Office Market

Posted on July 29, 2015 11:00 am by Cliff Goodwin under Industry News

As London’s vacancy rates hit a 14-year low, one of the capital’s leading commercial agents has warned that the recovering economy could push the supply of city offices even lower. This year’s second quarter returns show the London vacancy rate at just 4.8 per cent. The only occasion it has been this low previously was between... Read More

Landowners and Developers keen to pursue Solar Farm schemes despite Budget measures

Posted on July 29, 2015 9:43 am by Kirsten Kennedy under Commercial Developments

Landowners and developers remain keen to press ahead with solar farm schemes in the South West despite mixed messages from the government, a national property consultancy reports. Robert Smith (pictured) of Bruton Knowles claims the Government has ‘pulled the rug out too early’ on renewable energy initiatives, after Chancellor... Read More


British Land announces sale of 39 Victoria Street

Posted on July 29, 2015 9:06 am by Neil Bird under Commercial Sales

British Land has announced that it has exchanged contracts for the sale of 39 Victoria Street SW1 to the Singaporean property company Ho Bee Land for a gross purchase price of £144 million, representing a net price of £139 million. The ten-storey office building provides a total of 98,000 sq ft including the ground floor retail... Read More


2015 shaping up to be another Good Year for SEGRO

Posted on July 28, 2015 3:31 pm by Kirsten Kennedy under Business News

Industrial and logistics property specialist SEGRO, has released a first half report showing a pre-tax profit of £330 million, comparing favourably to the same period in 2014 when a sum of £226.5 million was achieved. A large part of this growth was a 4.3 per cent hike in rental income from its overall portfolio, with 5.8 per cent... Read More


KWE acquires South East Office Portfolio for £211m

Posted on July 28, 2015 3:16 pm by Neil Bird under Commercial Sales

Kennedy Wilson Europe Real Estate (KWE) has completed the acquisition of nine South East offices from an affiliate of Apollo Global Management. The £211 million purchase, funded from the company’s cash resources, represents yield on cost of 8 per cent. The portfolio comprises 814,700 sq ft of modern office space with an occupancy... Read More


Trinity Leeds launches pioneering Apple Watch enabled Loyalty Programme

Posted on July 28, 2015 1:42 pm by Kirsten Kennedy under Top Properties

Land Securities’ £400 million retail destination Trinity Leeds has become the first shopping centre in Europe to provide customers with a loyalty scheme enabled for Apple Watch and Apple Wallet. Since opening its doors in 2013, Trinity Leeds has been widely regarded as the most digitally enabled shopping centre in Europe, utilising... Read More


L&G acquires Mitchells & Butlers’ Birmingham Headquarters

Posted on July 28, 2015 12:16 pm by Chris Grigorovsky under Commercial Sales

Legal & General Property has acquired the Birmingham headquarters of Mitchells & Butlers (M&B) from LaSalle Investment Management for £69.5million, reflecting a net initial yet of 3.94%. L&G's freehold purchase of the 95,000 sq ft Grade A office building was made on behalf of its Limited Price Inflation Income Property... Read More


AEW Europe acquires first Dutch asset for LOGISTIS Fund

Posted on July 28, 2015 11:19 am by Cliff Goodwin under Commercial Sales, Worldwide Property News

One of Europe’s leading real estate investment managers has made its first Dutch investment. The deal will also allow AEW Europe to develop the warehouse site at Helmond. The purchase — made on behalf of AEW’s LOGISTIS fund — includes a group of three premium logistics properties totalling 538,195 sq ft.  The warehouses were... Read More


AXA Real Estate adds German Shopping Centre to Euro-Retail Portfolio

Posted on July 28, 2015 10:02 am by Cliff Goodwin under Commercial Sales, Worldwide Property News

Axa Real Estate Investment Managers has completed the acquisition of a 35 per cent stake in western Germany’s largest shopping centre. The €231m (£164m) deal is Axa’s third retail complex joint venture in less than a year. The purchase of the Ruhr Park Shopping Centre in Bochum was made on behalf of Axa Selectiv Immo, a... Read More


Second Quarter Retail Warehouse Transactions push H1 Volumes up 27%

Posted on July 27, 2015 3:14 pm by Chris Grigorovsky under Commercial Sales

Completed UK retail warehouse transactions in Q2 totalled £635 million - a 33 per cent increase on the second quarter last year, according to research conducted by DTZ. The latest investment activity takes the half-yearly total to over £1.3 billion, 27 per cent up on transaction volumes in H1 2014. In total there were 28 transactions... Read More


Great Scotland Yard to be transformed into Luxury Hotel

Posted on July 27, 2015 1:29 pm by Kirsten Kennedy under Top Properties

London’s historic Great Scotland Yard is set to be transformed into a luxury hotel following a £110 million deal between Indian billionaire Yusuffali Kader and property developer Galliard Group. The Grade II listed building is undergoing a £50 million refurbishment to provide 92,000 sq ft of luxury bedrooms, two bars, a library and... Read More

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