Commercial Property News Posts
Bookmaker Wins Landmark Case against Council
Posted on June 19, 2013 2:05 pm by Neil Bird under Business NewsA bookmaker has won its case against a London council that threw out its application for an operator’s licence for a high street premises. Newham councillors rejected the bid from Paddy Power in February in, what was widely viewed as, a test case... Read More
Ex Wickes Boss Steps into High Street Fray
Posted on June 19, 2013 12:30 pm by Rachel Mellor under Industry NewsBill Grimsey, the former Chief Executive of Wickes, has put together a small team of experts to help combat the decline of the high street. Mary Portas was drafted in by the Government for this role, but he feels an alternative review of the high street is needed. It isn't very helpful says Mary Portas Mr Grimsey feels that Portas... Read More
Oxford Properties Group has announced plans to develop an office tower in the heart of downtown Toronto. The Ernst & Young Tower will offer 900,000 sq ft of space to tenants and will be a Class AAA, LEED Platinum skyscraper. Ernst & Young, an international leader in tax, transaction and advisory services, will be the primary... Read More
The government is currently consulting on the details of its previously announced proposals to provide exemption from empty property rates for new-build commercial property. The move is designed to boost speculative development by removing the burden of business rates on the owners of unoccupied newly built properties. The relief will... Read More
Welsh Government Moves into Cardiff Property Market
Posted on June 18, 2013 3:00 pm by Jodee Redmond under Commercial DevelopmentsThe Welsh Government has entered the commercial property market by buying a Grade A office scheme from developer JR Smart at its Capital Quarter development. Under the terms of the agreement, the 80,000 sq ft building, which is currently under construction, will be ready to welcome tenants in March. JR Smart will also start work... Read More
Commercial Property Investors Turning Towards Provincial Markets
Posted on June 18, 2013 1:00 pm by Neil Bird under Industry NewsThere are encouraging signs that property investors are slowly returning to the provincial markets. The latest figures show that between January and April there was a doubling of transactions across the UK accompanied by a rise in capital values.... Read More
The IPD capital growth index results have been released and they show a month-on-month decline of 0.4 percent in April. If the figures are rounded out there is effectively no change. Offices were the best performing sector and retail was the worst which continues the established trend in the market. According to Knight Frank, the latest UK... Read More
New Development Pays Tribute to King of Soho
Posted on June 18, 2013 8:45 am by Neil Bird under Commercial DevelopmentsSoho Estates will next month submit an application for a commercial development in Walkers Court. Besides serving as the new headquarters of the investment and development company, the building will house a restaurant and a 150 seat cabaret theatre. It will... Read More
Business leaders have endorsed Birmingham Airport’s vision for the future which includes plans for the development of a business park and one of the largest conference centres in Europe. The proposals follow questions from the Airports Commission, which is assessing the need for additional UK airport capacity before reporting its... Read More
International Investors Descend on Dublin
Posted on June 17, 2013 12:05 pm by Jodee Redmond under Worldwide Property NewsSince the property market crash, private equity and investment groups have descended on the Dublin commercial property market and have been able to pick up some bargains the Irish Times reports. One of the biggest investors to enter the Irish... Read More
Recession and Austerity Measures Hit European Retail Markets
Posted on June 17, 2013 10:30 am by Neil Bird under EconomyThe recession in the Eurozone together with wide ranging austerity measures are having an impact on Western European retail markets, according to research conducted by BNP Paribas. The overall findings suggest that the prime retail sector remains healthy and is undersupplied in the face of strong demand. In the most sought after locations,... Read More
Grade A Offices in Short Supply in Sheffield
Posted on June 17, 2013 8:55 am by Rachel Mellor under Industry NewsAccording to a recent study, the UK’s fourth largest city could be missing out on attracting new businesses to the area due to a lack of Grade A office space in the centre. Creative Sheffield and property consultants, Knight Frank joined forces to conduct the study in Sheffield which found that only around a quarter, 28 per cent of... Read More
Miami Dade Industrial Market Heating Up in Face of Dwindling Supply
Posted on June 16, 2013 1:00 pm by Jodee Redmond under Worldwide Property NewsThe Miami-Dade market is shifting into high gear as the supply of well-located industrial property continues to decline. The recent sale of a 73,500 sq ft warehouse in the Sunshine State Industrial Park is an example of area activity. The vendor sold the property to Miami Dade Printing Company for $3.6 million. Michael Silver, of... Read More
Creative Start Ups to Receive Ingenious Funding
Posted on June 16, 2013 11:00 am by Katie Staff under Business NewsThe venture capital group behind The Life of Pi film is launching a programme to make at least £2.25m available to the best creative and media start-ups in the UK. Ingenious Ventures has started its Ingenious Seed Investment Programme to make 15 payments of £150,000 to the start-ups by September 2013. Capital is already raised from... Read More
InterContinental Hotels Group has announced that the Crowne Plaza Charlotte Executive Park, the brand's new North Carolina location, is now open. The property was formally the Marriott and has undergone a renovation totaling several million dollars. The update focuses on guest rooms and common areas in the suburban hotel. The... Read More
According to a new report released by RealNet Canada Inc., property valuations have become so high in Vancouver's commercial market that it is starting to take a toll on the number of deals that are closing. The company says that capitalisation rates, which are the implied rate of return on a property, in British Columbia, have dropped... Read More
Around 300 new jobs are being created by Airbus as part of a Europe-wide expansion that is expected to create a total of 3,000 jobs this year. The UK vacancies will be at the plane-maker’s plants in Bristol and Flintshire. An Airbus engineer inspects a composite wing cover at Broughton The company says an extra 10,000 people were... Read More
US financial institutions that foreclose on commercial properties may find themselves in a position where they are liable if the site requires an environmental cleanup. This problem has been made worse by the global financial crisis. According to experts, smaller financial institutions, including mid-market firms, often do not have the... Read More
Stoke-on-Trent City Council is facing growing pressure to release land required by Intu Properties for the expansion of its city centre shopping destination. The sale has been mysteriously delayed after the council first claimed that they were prevented from selling the land, due to a contractual agreement with Realis Estates, and then... Read More
Marks & Spencer (M&S) are planning to build a new distribution centre in just 25 miles from London which will create up to 700 jobs in the South, the company has announced. The Essex warehouse which is due to open in 2016 will be built near Thurrock in the London Gateway container port. The port which is due to open later this... Read More
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