British Land announced today that it has sold the Beehive Centre for £109.2m to Orchard Street Investment Management. The 238,000 sq ft part open consented retail property in Cambridge comprises 16 units with an Asda food store as the anchor store. ... Read more
The latest Drivers Jonas Deloitte UK Cities Crane Survey for 2012 shows that activity levels remain low across all UK property sectors. The survey, which monitors development levels of property in Manchester, Leeds, Birmingham, Glasgow and Edinburgh, ... Read more
At last week’s World Retail Congress, Sir Philip Green said there were too many retail outlets chasing too few shoppers, with the number of customers remaining flat since the financial crisis. “It’s a competitive market place with too many shops,” he ... Read more
British Land has sold seven food stores for a total of £118m, of which its share is £62m, to institutional investors at net initial yields of between 4.95% and 5.7%, in line with March valuations. The company, which was represented by Morgan ... Read more
NewRiver Retail last week announced it had received detailed planning approval for the major redevelopment of its Forum Shopping Centre in Wallsend. The 91,000 sq ft retail property near Newcastle will be modernised and extended to include ... Read more
The IPD last week held its first Income Seminar in London, at which it heard views on the risks and advantages relating to income in the UK property market. While falling capital values have put fresh emphasis on the importance of income returns to ... Read more
The future of retail involves bricks and mortar as well as online sales, says CBRE. Multichannel retailing – where retailers use a variety of ways to do business with consumers, including in-store, online via computer and mobile apps – is set to ... Read more
Bowyer Bryce has announced the letting of the 16,600 sq ft industrial unit in Welwyn Garden City at One Bessemer Park to John Jones Ltd on a 10-year lease. The deal, done by joint agents Leighton Goldhill, is for an annual rent of £100,000 with a ... Read more
We are about to enter an exceptional period of opportunity for buyers of secondary property, says GVA. In its recently published guide to secondary property, the firm says pricing is becoming more realistic as vendors and advisers “are slowly and ... Read more
Savills reports that UK commercial property development activity fell in all nine monitored sectors in August. The firm also says the decline in activity was the fastest since December 2011. The construction PMI data for August had signalled only a ... Read more
