Creative solutions for business space
The number of planning applications submitted in England has increased to its highest level since the recession, according to latest statistics. Over 127,000 planning applications were submitted in the second quarter of 2010, a 7.7% rise on the Q1 figure and the highest figure since autumn 2008 when 135,000 applications Read More
The Northern Line extension from Kennington to Battersea is paramount if the economic regeneration of the Nine Elms area of south London is to be sustained. It is welcome news then that Wandsworth Borough Council is working up bids to secure grant aid for the project. It will look to Read More
Recent research has shown that more than 4 million square feet of office space in the West End of London has been converted to other uses this decade. The majority has been converted to residential as demand from high net worth overseas purchasers pushes values up but hotel operators have Read More
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
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