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Commercial Property News Posts

Legal document for sale of real estate property

Sale of Birmingham’s Historic Louisa Ryland House Confirmed

Posted on December 19, 2014 1:00 pm by admin under Commercial Sales

Louisa Ryland House, which was placed on the market by Birmingham City Council in July, has been sold in a £7M deal to property development and investment firm Graftongate. Graftongate has not announced its plans for the building but an office scheme, which according to market sources, would have a gross development value of around... Read More


New Year start for £52m Warrington Retail Revival

Posted on December 19, 2014 12:30 pm by Cliff Goodwin under Commercial Developments

Planners have given the go-ahead for the revamp of a Cheshire town centre. Work on the £52m scheme to regenerate the retail heart of Warrington will start early next year. To be completed in two construction stages, the Bridge Street Quarter development will create at least 400 jobs and is scheduled for completion in 2018. "This is... Read More

Hands of business woman with laptop computer keyboard.

New Hi-Tech Business Park under development in Market Rasen

Posted on December 19, 2014 10:30 am by admin under Commercial Developments

A recently purchased plot of Market Rasen land is set to become the site of a five-star state of the art business park. The newly titled 'Kings Head Business Centre', which is located on the site of the furniture store 'Granddad’s Shed', will be able to house twelve businesses and have up to twenty members of staff. It was... Read More


Local Infrastructure to benefit from Enterprise Zone Boost

Posted on December 19, 2014 9:30 am by Kirsten Kennedy under Business News

Since the introduction of enterprise zones in the UK, thousands of small businesses have benefited from the business rate incentives, investment opportunities and boost to the commercial property stock in their local area. However, it has now emerged that the zones will also contribute to the greater good of the wider public, with more than... Read More


Tom Howley chooses The South Kensington Estate for second London Showroom

Posted on December 19, 2014 8:30 am by Neil Bird under Top Properties

Tom Howley, the bespoke kitchens brand, has agreed a ten year lease on a property at 72 Fulham Road SW3, The South Kensington Estate has confirmed. The new showroom, which is due to open in March 2015, will be Tom Howley’s second store in London and the eighth in the UK. Ed Warrick, from the Property and Infrastructure team at The... Read More


New Road and Rail Framework is a boost for the Industrial Sector says BPF

Posted on December 18, 2014 1:47 pm by Neil Bird under Industry News

The British Property Federation (BPF) has welcomed the publication of a National Policy Statement for the road and rail networks, describing it as ‘a boost for the industrial sector'. The statement, which follows a consultation period earlier this year, outlines a framework for the upgrading and further development of the... Read More

The City of London in the afternoon

The City and Westminster move to stem flood of Office Conversions

Posted on December 18, 2014 1:00 pm by Cliff Goodwin under Top Properties

Two London planning authorities have taken steps to cut the number of developers snapping up offices and turning them into luxury housing. In the first move of its kind, owners wanting to convert City of London offices into flats and apartments will have to prove the building is no longer "viable" as a commercial property. At the... Read More

British Land’s 10 Portman Square almost fully let

Posted on December 18, 2014 12:30 pm by admin under Top Properties

The Ontario Teacher's Pension Plan (OTPP), Canada’s largest single profession pension plan, has moved their business into 10 Portman Square in the West End of London, signing a fifteen year lease for 18,535 sq ft of second floor office space, according to an announcement made this month by British Land. This means that the seven floor... Read More

Dixons Carphone reports strong UK and Ireland performance

Posted on December 18, 2014 12:01 pm by Kirsten Kennedy under Business News

The merger between electrical goods retailer Dixons and mobile phone retailer Carphone Warehouse earlier this year saw two of the strongest brands on the high street unite. As expected, this has had a positive impact upon sales performance, with the newly created Dixons Carphone brand reporting a very strong first half in its first year of... Read More

Hammerson confirms January start for WestQuay Watermark development

Posted on December 18, 2014 11:00 am by Kirsten Kennedy under Commercial Developments

Hammerson has announced that work on its upcoming WestQuay Watermark development in Southampton will officially begin early in the New Year, with the £70 million scheme set to be constructed in two phases. Phase one, for which enabling works have already been conducted, will be overseen by main contractor Sir Robert McAlpine and will... Read More

Offices to Homes Scheme proves Popular in Northamptonshire

Posted on December 18, 2014 9:15 am by Cliff Goodwin under Industry News

More and more landlords are applying to convert empty offices into residential accommodation before a temporary change to the planning system runs out in 17 months’ time, a leading commercial property agent has claimed. Under the Government's permitted development rights — introduced at the end of May, 2013, as a way of increasing... Read More

Falling Vacancy Rates and Rising Rents forecast for US Market

Posted on December 18, 2014 8:45 am by Jodee Redmond under Worldwide Property News

The upturn in the US economy should keep interest in commercial real estate steady, according to the quarterly forecast released by the National Association of Realtors®. (NAR) Lawrence Yun, NAR’s chief economist, commented recently that commercial activity should increase gradually heading into the New Year. He went on say that... Read More

Government Inspectors strip Tower Hamlets of power to sell Property

Posted on December 17, 2014 1:53 pm by Neil Bird under Uncategorised

A team of government inspectors today moved to curb the power of Tower Hamlets Council to sell property, following the publication of a PricewaterhouseCoopers (PwC) report which found evidence of “serious irregularities and a lack of transparency” in the  disposal of public buildings. The move is part of a wider takeover of the... Read More


Birmingham included in Rough Guides Top Ten Global Destinations List

Posted on December 17, 2014 1:00 pm by Kirsten Kennedy under Business News

Birmingham is swiftly becoming one of the top European destinations for visitors from the Far East and America. This has been reinforced by its inclusion on travel guidebook series Rough Guides’ top ten most exciting global destinations to visit in 2015 and tourism bodies in the city hope that this will fuel a further boom in visitor... Read More


Mary Portas criticises Government for “Slow” Shop Action

Posted on December 17, 2014 10:30 am by Kirsten Kennedy under Business News

The Autumn Statement has been largely welcomed by retail bodies, with the much awaited review of business rates the icing on the cake of a programme of funding initiatives for small businesses. However, this week “high street guru” Mary Portas has hit out at the government, claiming that the “token gestures” seen so far have not been... Read More


Village Hotels sale completes De Vere break-up

Posted on December 17, 2014 9:30 am by Cliff Goodwin under Commercial Sales

The De Vere empire has now been fully broken up, with United States private equity company KSL Capital Partners acquiring the final piece of the hotel group — the 28 property De Vere Village chain — for £480m. A former FTSE 100 listed company, De Vere says it is confident that "a well-progressed asset sell-off" has allowed it to... Read More


Government invests £5m in Sensor City Hub

Posted on December 17, 2014 9:00 am by Cliff Goodwin under Business News

The Government is contributing a third of the money needed to launch a high-tech Merseyside university business hub that could house 300 new businesses and create 1,000 new jobs. Sensor City — described as a "sensor-systems business incubator" — is a £15m collaboration between the University of Liverpool and Liverpool John Moores... Read More


Starting Date announced for Paradise Circus Redevelopment

Posted on December 16, 2014 2:21 pm by Kirsten Kennedy under Commercial Developments

Birmingham has become something of a hub of developmental activity in the past year, with large scale works taking place at Birmingham New Street station, the adjoining Grand Central retail scheme and also at the Mailbox. However, while these are all due to complete in the New Year, 2015 will bring with it a fresh wave of redevelopments, with... Read More

Skyscrapers in Manhattan from a low angle

US Asset Values not expected to peak until 2016 says CPE Survey

Posted on December 16, 2014 11:30 am by Jodee Redmond under Worldwide Property News

The results of the latest CPE 100 Quarterly Sentiment Survey point to 2016 as being a peak year for the US market. Close to half of the group of industry leaders surveyed (46%) said that asset values and transaction volume across property types have not hit their peak yet and are forecasting that it is still two years away. Only 15%... Read More


Five-Star Hotel Plan for Churchill’s Historic War Office

Posted on December 16, 2014 9:15 am by Cliff Goodwin under Commercial Sales

The Defence Infrastructure Organisation (DIO) — which owns and manages the British military infrastructure — has sold the Old War Office where Sir Winston Churchill worked during World War II for an undisclosed sum. When the sell-off was first announced in 2013 offers in excess of £100m were invited for the property. The Grade II... Read More

Large furniture warehouse

Ocean Portfolio purchased by Legal & General Property

Posted on December 16, 2014 8:45 am by Kirsten Kennedy under Commercial Sales

Legal & General Property (LGP) has completed a deal to buy the entire Ocean Portfolio for £226.5 million, representing a net initial yield of 6.5 per cent. The Ocean Portfolio is comprised of 13 different sites located throughout the UK, although much of the space can be found in the Midlands and North East. However, the majority... Read More


St James’s acquires Spinningfields Landmark

Posted on December 15, 2014 2:56 pm by Cliff Goodwin under Commercial Sales, Top Properties

A UK-focused commercial property investment fund has swooped on one of Manchester's most "architecturally pleasing" buildings. Acting for wealth managers St James's Place, Orchard Street Investment Management reportedly paid £31m for Four Hardman Square in Spinningfields. Munich-based GLL Real Estate Partners owned the four-storey... Read More

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