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Commercial Property News Posts


Office Conversion could Double York Five-Star Hotel Capacity

Posted on April 24, 2015 3:26 pm by Cliff Goodwin under Top Properties

York planners are considering a scheme to convert an empty office block into an extension of the city’s only five-star hotel. The £15m two-year project would add another 107 bedrooms to the Grade II listed Grand Hotel & Spa — formerly the Cedar Court Grand — in York’s Station Rise. Acquired last year by the Splendid... Read More

Canary Wharf view from West India Millwall Docks.

Where the Heart is: Londoners want Office Accommodation close to Home

Posted on April 24, 2015 2:03 pm by Kirsten Kennedy under Industry News

While the daily commute may be a fact of life for many, a new study by Canary Wharf Group finds it is having a negative impact on the wellbeing of London office workers. As a result, the group has teamed up with colour consulting agency mycoocoon to deliver a colour therapy installation allowing Londoners to see what life might be like... Read More


Cheesegrater sets Record City Rent following Shipping Broker deal

Posted on April 24, 2015 12:12 pm by Neil Bird under Industry News, Top Properties

British Land and Oxford Properties have announced that independent shipping broker Affinity has agreed terms on Level 44 of The Leadenhall Building, for a record breaking City rent of £90 per sq ft. The deal for the highest available floor of the 'Cheesegrater' smashes the previous City of London record set by the same office tower... Read More


Facelift will return Birmingham Office Block to the Market

Posted on April 24, 2015 11:16 am by Cliff Goodwin under Industry News

Work will start next month on the refurbishment of an office building close to Birmingham’s business district. The eight-storey Temple Street block has been empty for more than six years. The 40-week facelift will cost £4m and bring the 38,000 sq ft of office space within the Freshwater Group owned 10 Temple Street up to Grade A... Read More


Tesco Results Fallout: Analyst advises 200 Store closures

Posted on April 24, 2015 10:55 am by Kirsten Kennedy under Business News

Earlier this week, the news that Tesco had posted its worst ever set of results and has been forced to write down the value of its property portfolio shocked retail industry watchers. Now, as the fallout continues, analysts are debating ways in which the group could begin to recoup some of its losses, with retail analyst Mike Dennis of... Read More


Investor with “vision” sought for Newcastle Quayside Site

Posted on April 24, 2015 8:20 am by Cliff Goodwin under Top Properties

A Tyneside commercial agent has launched a hunt for an investor to take on the redevelopment of a former cocktail bar — just yards from its own Newcastle Quayside offices. The chance to convert the five-storey building into offices, a retail complex or revive its leisure use is being offered by Knight Frank as part of the city’s... Read More


Rockspring completes £56m Edinburgh Office Acquisition

Posted on April 23, 2015 4:39 pm by Cliff Goodwin under Commercial Sales

Global asset manager, Carlyle Group, has sold its award-winning office block in the centre of Edinburgh to Rockspring’s UK Value Two Fund for £56m. The property is the eighth British asset acquired by the fund and brings its holding to £260m. The Scottish retail and business space specialist, Eric Young & Co, acted for the... Read More

Hammerson disposes of Drakehouse Retail Park as New Occupiers are confirmed at Bullring and The Oracle

Posted on April 23, 2015 3:05 pm by Chris Grigorovsky under Commercial Sales, Top Properties

Hammerson has completed the sale Drakehouse Retail Park in Sheffield to 90 North Real Estate Partners in a deal reportedly worth £61.7 million. The 226,000 sq ft retail park is fully let to occupiers including Homebase, Currys, Wickes and B&M. Hammerson Chief Executive, David Atkins, says the company will reallocate the capital across... Read More

Newham Council backs landmark Silvertown Quays scheme

Posted on April 23, 2015 12:03 pm by Cliff Goodwin under Commercial Developments

Newham Council claims that as many as 20,000 new jobs will created following its decision to back a 62-acre waterfront development at Silvertown Quays in the East End of London. The £3.5bn landmark development is intended to breathe new life back into the Royal Docks. The Silvertown Partnership (TSP), with the support of the... Read More

‘Squeezed Middle’ feels pinch as Bristol Office Supply Shrinks

Posted on April 23, 2015 10:52 am by Kirsten Kennedy under Industry News

As growing businesses continue to seek premises for expansion, small to medium sized enterprises (SMEs) are facing an increasing struggle to find affordable office space to facilitate growth. This has been especially noticeable in Bristol, where a new study from commercial property specialist Bruton Knowles highlights the plight of the... Read More

UK Commercial Property Market continues to Perform Well despite Slowdown

Posted on April 23, 2015 9:23 am by Kirsten Kennedy under Industry News

The UK commercial property market continues to perform well even if the huge momentum seen last year has slowed somewhat, according to the latest results of MSCI Inc.’s AREF/IPD UK Quarterly Property Fund Index. The index shows that unlisted real estate funds were able to post a return of 2.5 per cent in the three months to March of... Read More

Manchester Office Rents heading for End of Year High

Posted on April 23, 2015 8:30 am by Cliff Goodwin under Industry News

The shortage of ready-to-occupy office space in Manchester is likely to push rents to record levels, a new commercial survey has warned. Outside London, Greater Manchester was the best performing office market of Britain’s six biggest cities. Last year it saw a record take-up of 2.1m sq ft — its largest volume since 2001. But,... Read More

Lambert Smith Hampton acquires Retail Property Specialist Tushingham Moore

Posted on April 22, 2015 3:13 pm by Chris Grigorovsky under Industry News

Lambert Smith Hampton has announced the acquisition of leading retail property consultant Tushingham Moore. Tushingham Moore is an established practice which represents a range of retailers, developers, institutions and private investors throughout the UK, including over 50 shopping centres and a large number of high street... Read More


Tesco forced to write down Property Values after Worst Result in History

Posted on April 22, 2015 12:59 pm by Kirsten Kennedy under Business News

Although analysts have recently forecast an upturn in Tesco’s fortunes, the group’s annual trading results released today reveal that the supermarket giant suffered the worst year in its history, having posted a mammoth pre-tax loss which necessitated a write down of its property values and the halting of any store expansion plans in the... Read More


Roomzzz Aparthotel a “Perfect Fit” for Corn Exchange

Posted on April 22, 2015 12:24 pm by Cliff Goodwin under Top Properties

Six years after opening its first Manchester operation, Roomzzz Aparthotel has confirmed its second site will be in the city’s iconic Corn Exchange. The Grade II listed building is currently undergoing a £30m redevelopment. Part of the Parklane Group, the Corn Exchange scheme will also be Roomzzz’s second historic site with its... Read More

Facebook-expands-presence-at Regents-Place

Facebook expands presence at Regent’s Place

Posted on April 22, 2015 11:25 am by Chris Grigorovsky under Industry News

British Land has announced that social media giant Facebook has signed an Agreement for Lease at 338 Euston Road, expanding its presence at Regent's Place. Facebook will occupy the fifth floor of the building, along with floors nine to sixteen and a ground floor events space totalling 66,000 sq ft. This is in addition to the 87,000 sq ft... Read More


The Crown Estate welcomes Arc’teryx to St James’s

Posted on April 22, 2015 8:35 am by Chris Grigorovsky under Top Properties

Canadian high-performance outdoor clothing brand Arc'teryx Equipment is to open its first store in Europe in London's West End. As part of a limited international expansion, Arc'teryx has taken the last two retail units of The Crown Estate and The Healthcare of Ontario Pension Plan’s £100 million Eagle Place development between... Read More

forklift loader pallet stacker truck equipment at warehouse

Local Logistics Firm snaps up one of Largest Industrial Properties in South Wales Valleys

Posted on April 22, 2015 8:25 am by Chris Grigorovsky under Commercial Sales

Logistics company Gerry Jones Transport, has acquired one of the largest available industrial properties in the South Wales Valleys, Bilfinger GVA reports. The 8.5 acre site, which includes a 105,700 sq ft warehousing and storage facility, is on the Tararnaubach Industrial Estate in Tedegar. The family-run logistics firm, which is... Read More


Loan Provider banks on 9 Portland Street Evolution

Posted on April 21, 2015 2:02 pm by Neil Bird under Top Properties

Evolution Money, has taken 11,676 sq ft of office space at 9 Portland Street in Manchester city centre, DTZ has announced today. DTZ acted on behalf of London & Scottish Investments in the deal which has seen the rapidly expanding loan provider take the entire third floor of the Grade II listed period building. The news follows... Read More


Spicer Oppenheim to deliver major St Petersburg scheme in time for Russia 2018

Posted on April 21, 2015 12:32 pm by Kirsten Kennedy under Worldwide Property News

Prominent UK based commercial, residential and mixed-use property developer Spicer Oppenheim has today announced it has been granted planning permission for a 1 kilometre bridge spanning the Neva River in St Petersburg, Russia. They will also build the new the MediaCity development and a major mixed use leisure complex providing a... Read More


International Agency signs Oxford’s Biggest Office Deal for Two Years

Posted on April 21, 2015 11:19 am by Cliff Goodwin under Industry News

One of the world’s leading international development consultancies is set to double the size of its Oxford headquarters after signing the biggest letting deal the city has seen in two years. Oxford Policy Management (OPM) will later this year move its staff from its St Aldates base to its new global head office in Clarendon House, in... Read More


Stubbs Mill will be ‘Fantastic Addition’ to Commercial Portfolio says Urban Splash

Posted on April 21, 2015 9:58 am by Chris Grigorovsky under Commercial Developments

Multi-award winning regeneration company Urban Splash has this week begun work on the redevelopment of Stubbs Mill, its latest scheme in Manchester. Stubbs Mill, a former machine works within the New Islington regeneration area, will be transformed into a 30,000 sq ft flexible canalside workspace in conjunction with construction company... Read More

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