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Commercial Property News Posts


London Property Owners unite to launch Wild West End Green Initiative

Posted on July 3, 2015 2:39 pm by Neil Bird under Industry News

An alliance of leading London property owners has today announced the launch of a unique initiative to promote green infrastructure in the capital. The Wild West End project, launched by The Crown Estate, Grosvenor Britain & Ireland, the Howard de Walden Estate and The Portland Estate, is the first city centre ecology project in... Read More


Take-off in Heathrow Hotel Demand forecast following Third Runway recommendation

Posted on July 3, 2015 1:12 pm by Chris Grigorovsky under Business News

Following the Airport Commission’s recommendation for a third runway at Heathrow, Savills has forecast that the hotel sector will see demand rise by 42 per cent - equivalent to an additional 3,500 rooms. Savills also reports that the ten year average occupancy rate for airport hotels is 78-79 per cent, making the asset class very... Read More


2015 on course to be Another Record Breaking Year for London Investment

Posted on July 3, 2015 11:30 am by Neil Bird under Commercial Sales

Investment in the central London commercial property market could reach record-breaking levels this year, after first half volumes hit £9.4 billion. This figure has only been exceeded on two previous occasions, in 2004 and 2007, and easily surpasses last year’s H1 total of £6.1 billion, in what went on to be a record-breaking... Read More


Three more Lettings announced at The Shard

Posted on July 3, 2015 10:09 am by Neil Bird under Top Properties

A further 47,021 sq ft has been let at The Shard following agreements with two new occupiers and the expansion of an existing tenancy. International law firm Greenberg Traurig, which operates in the UK as Greenberg Traurig Maher (GTM), is due to take 19, 785 sq ft of office space when it relocates from its current London address to... Read More

Colliers International - Nick Turk - 15.6.11

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International Investment in South West Retail Sector Rises

Posted on July 3, 2015 8:35 am by Kirsten Kennedy under Commercial Sales, Industry News

As prices continue to rise and supply falls ever further in London, international investors are increasingly finding it difficult to snap up prime properties in the UK capital. This, according to Collier’s International’s Midsummer Retail Report, is creating numerous opportunities for regional areas to capitalise by showcasing their... Read More


Stockport Commercial Lettings rise following Orbit Initiative

Posted on July 3, 2015 8:25 am by Cliff Goodwin under Industry News

After six month campaign to change the profile and perception of Stockport by the town’s largest landlord its latest letting figures look set to be the best for more than five years. Orbit Developments — the commercial division of The Emerson Group — is reporting that in the first six months of this year it has let 25,000 sq ft... Read More


Land Securities welcomes WorldRemit to 62 Buckingham Gate

Posted on July 2, 2015 1:05 pm by Chris Grigorovsky under Top Properties

Land Securities has successfully let nearly 25,000 sq ft at 62 Buckingham Gate SW1 to rapidly expanding financial technology company WorldRemit. The deal, which will see WorldRemit relocate its UK headquarters to the second floor of the 257,000 sq ft building, takes 62 Buckingham Gate’s occupancy rate to 78 per cent let. 62... Read More

Schroders and Stanhope award £40 million Ruskin Square contract to Lendlease

Posted on July 2, 2015 11:59 am by Neil Bird under Commercial Developments

Schroders and Stanhope have appointed Lendlease as the preferred contractor for the first of five office buildings at Ruskin Square, the development partnership’s £500 million business, leisure and residential quarter adjacent to East Croydon Station. Construction work on the building, which will provide 200,000 sq ft of flexible... Read More

Market Buoyed by West Midlands and Welsh Deals

Posted on July 2, 2015 10:37 am by Cliff Goodwin under Commercial Sales

More than £24m has changed hands in four separate West Midlands and Welsh commercial property deals. The biggest transaction — worth £17.4m — involves a yet to be completed retail park. Aberdeen Asset Management has bought the St Modwen developed Technology Retail Park in Rugby on behalf of one of its clients. The 100,000 sq ft... Read More

Cornerstone strengthens European Research Team with two new Appointments

Posted on July 2, 2015 9:55 am by Neil Bird under Business News

Cornerstone Real Estate Advisers has stepped up its European expansion drive with two new appointments to its research team. Michal Kapusta is joining Cornerstone as Associate Director, based at the global real estate investment manager's Munich office, while Jo Warren will be joining the London office as Research Analyst. Both will... Read More

Clyde Real Estate raises €25m Investment War Chest

Posted on July 2, 2015 8:30 am by Cliff Goodwin under Business News

Clyde Real Estate (CRE) — the commercial property company launched last year by entrepreneur, businessman and former Irish presidential candidate Sean Gallagher — has confirmed it has so far raised more than €25m (£17.7m). The firm, founded by the panellist on RTÉ's Dragon's Den to capitalise on growing office demand in Dublin... Read More

PATRIZIA completes First Street acquisition

Posted on July 1, 2015 2:42 pm by Kirsten Kennedy under Commercial Sales

PATRIZIA has completed the acquisition of the 20 acre mixed use First Street site in central Manchester for an undisclosed price. The announcement comes just days after a detailed planning permission for a large modern office building was submitted in the latest phase of the development. This follows a number of key milestones achieved... Read More

LondonMetric announces Acquisition and Funding of Wakefield Distribution Centre

Posted on July 1, 2015 11:38 am by Chris Grigorovsky under Commercial Developments, Commercial Sales

LondonMetric has exchanged conditional contracts with CDP Ltd, the development arm of the Marshall Construction Group, for the purchase and forward funding of a new 524,000 sq ft retail distribution centre development in Wakefield for £39.4 million. The distribution centre has already been pre-let to Poundworld Retail Ltd on a 15 year... Read More

Silverstone directors, Ben Hunter (left) and Richard Farrey.

Silverstone reports increase in Pre-Acquisition Surveys as Investors look North

Posted on July 1, 2015 10:15 am by Cliff Goodwin under Industry News

A Tyneside building surveyors and project manager is reporting a “significant” rise in commercial commissions — with this year’s half-yearly figure already outpacing the same period in 2014. Silverstone directors, Ben Hunter (left) and Richard Farrey. Newcastle-based Silverstone Building Consultancy  —  a specialist firm of... Read More


Cardiff Industrial Estate fully let following Wave of Deals

Posted on July 1, 2015 8:33 am by Neil Bird under Industry News

Cardiff’s Fairwater Industrial Estate is now fully let after four local businesses agreed terms on the remaining five units. The latest additions to the occupier line-up are; First Stop Car Sales which has taken a 1,600 sq ft unit, Cardiff Windows Direct which has agreed terms on a 4,200 sq ft unit, Label Needs Ltd which is moving... Read More


Landmark £30 million boost for Perth

Posted on July 1, 2015 8:30 am by Kirsten Kennedy under Commercial Developments

A landmark £30 million leisure development in Perth city centre is expected to create jobs and attract over 300,000 visitors every year. The Mill Quarter development will bring together restaurants and bars, speciality shops, a gym and a new cinema, along with a new multi-storey car park. Although a planning application for the... Read More


Rise in Consumer Confidence good news for Retail Property Sector

Posted on June 30, 2015 4:27 pm by Kirsten Kennedy under Economy

Although spending has climbed steadily since the end of the recession, consumer confidence has remained relatively subdued due to a combination of weak pay growth and lingering fears over the economy. However, in June, consumer confidence took an unprecedented turn for the better, climbing by 6 points to reach its highest level since the... Read More


First Applications lodged for “Eyesore” Selly Oak Site

Posted on June 30, 2015 1:44 pm by Cliff Goodwin under Commercial Developments

Harvest Partnership — a joint venture between Land Securities and Sainsbury's — has filed two planning applications for what is claimed to by Birmingham’s longest-stalled regeneration project. Work finally started last autumn to decontaminate the city’s 30-acre Battery Park area which once housed an iron foundry, gas works and... Read More


LondonMetric swoops on Next Distribution Warehouse

Posted on June 30, 2015 12:51 pm by Chris Grigorovsky under Commercial Sales

LondonMetric Property has announced the acquisition of Next’s Doncaster distribution warehouse for £29 million, reflecting a net initial yield of 6.3per cent. The off-market purchase, from a private property company, will be funded from London Metric’s existing resources. Located two miles north west of Junction 38 of the A1 in South... Read More


Neptune revises Liverpool Gateway plans following Public Consultation

Posted on June 30, 2015 11:59 am by Cliff Goodwin under Commercial Developments

The developer behind a scheme to breathe new life into the Lime Street area of Liverpool has confirmed it has revised its plans following a month-long public consultation. Neptune Developments says the new project will do more to combine the city gateway’s “history and future”. The regeneration specialist is working in... Read More


St Modwen reports Record-Breaking 306% rise in Half Year Profits

Posted on June 30, 2015 9:30 am by Neil Bird under Business News

Regeneration specialist St Modwen Properties has announced a huge 306 per cent rise in profits for the six months to May 31 2015. The increase takes profits before tax to £203.1 million, in comparison to £50 million for the corresponding period in 2014. The group also reports a 21 per cent increase in NAV per share to 394p and a... Read More


South East Office take-up levels surge in Second Quarter

Posted on June 30, 2015 8:30 am by Kirsten Kennedy under Industry News

The South East office market, defined as the Western Corridor and the markets to the north and south of the M25, witnessed a surge in take-up during the second quarter of the year. According to new data released by Strutt & Parker, take-up between the end of March and the beginning of July 2015 rose by 41 per cent compared to the... Read More

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