Creative solutions for business space
Demand for high quality office space in London’s West End is pushing rents up to pre-recession levels, according to today’s Financial Times. A rent of more than £100 per sq ft has been agreed for the top floor of Prupim’s new development at 40 Bruton Street in Mayfair. And it Read More
Private property company MEPC has sold part of it’s successful Leavesden Park business park near Watford, Hertfordshire to Warner Bros for a price believed to be £22 million. Warner is buying the 500,000 sq ft of sheds it has leased to make the Harry Potter films among others, together with Read More
The strength of the central London commercial property market was highlighted by Great Portland Estates in it’s latest half-yearly results. Led by the highly regarded Toby Courtauld, GPE posted an 11% rise in it’s net asset value to 314p in the six months to 30 September. Portfolio value increased 7.3% Read More
Office occupiers are increasingly looking to stay put and maximise existing space while economic uncertainty remains high. According to the British Institute of Facilities Management‘s workplace survey almost two-thirds (58%) of employers are trying to decrease office space by increasing the density of their workforce. It found that “under offer” Read More
Nottingham City Council has announced that it will not be attending MIPIM next year due to ‘austerity’ cutbacks. Quelle surprise. The presence of numerous local authorities at the annual property event in Cannes was always questionable. The need to promote the UK’s regional cities to an international audience is a Read More
Three firms of global property agents made stock market announcements recently. CBRE and JLL reported significant improvements to their trading performance for the third quarter while DTZ issued a warning that their year end figures would show a loss rather than a previously forecasted profit. CBRE was boosted by its Read More
What a week it turned out to be. On Monday we heard that British Land had signed a jv with the Canadian-based Oxford Properties to build a huge city skyscraper – dubbed the Cheesegrater in many circles – and that Westfield was considering a part sale of it’s shopping behemoth Read More
The government may have announced its comprehensive spending review (CSR) – without too many surprises – but it will take some time for it’s full impact to be felt in property circles. The government may be looking long and hard at it’s own occupational property needs but it represents only Read More
The news that Resolution and partner JER are to sell the London Gate office site in Hayes west London has surprised some market observers but it may prove a shrewd move. Demand from office occupiers in the western corridor has picked up in recent weeks and while this is yet Read More
The property market is waiting with bated breath on the forthcoming government spending review. The leaks from various departments and quangos have put a question mark over whether the government is going to tear up occupational leases on some of it’s estate. Philip Green, the government czar charged with looking Read More
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