Hammerson today announced that, following a strategic review, it will sell off its entire portfolio of office properties in order to become a specialist retail REIT. Retail assets currently represent 89% of the company’s £5.7bn property ... Read more
Take-up of office space in Central London fell 30% compared with December, to 839,400 sq ft, after a relatively strong end to 2011, says CBRE. But this figure was 38% more than in January 2011, the firm notes. While take-up of Docklands offices ... Read more
Savills has noted sustained “and possibly increasing” demand for Grade A City of London commercial property from overseas investors, particularly from Asia. It expects this to maintain prime yields for such properties at 5.25% and says they could be ... Read more
As market uncertainty is driving a risk-averse and cautious approach from occupiers, developers of office space in London face a significant challenge in securing tenants and beginning projects, says building consultancy EC Harris. While there is ... Read more
DTZ says more than 40% of UK commercial property could fail the new government energy standards encompassed in the Energy Act, which passed through Parliament last year. The new standards could have a significant impact on the value of these ... Read more
FirstService Corporation has requested an extension to the deadline by which it must decide whether to make an offer for Colliers International, as it wants to carry out further due diligence. The company, majority shareholder in Colliers ... Read more
Segro has sold a portfolio of UK industrial assets to two property funds managed by Ignis Asset Management for £80.2m. Segro says this is part of its new strategy to focus its industrial portfolio on London and the South East. The five non-core UK ... Read more
Prime headline rents for office space in Edinburgh city centre are set to come under pressure to rise towards the end of 2012, according to the latest research from Savills. A growing shortage of supply is forecast to push current rental levels up ... Read more
Glenny LLP and National Grid Property Holdings have announced the letting of a 76,000 sq ft industrial unit in Dartford. Unit D at Littlebrook Business Centre, a warehouse facility located by the QEII Bridge, has been let to road haulage firm MJD ... Read more
The IPD’s latest Monthly Index for UK commercial property paints “a fairly sombre picture” for the start of the year, the IPD says, but it notes that there are some areas for optimism. The IPD UK Monthly Index for January showed capital values ... Read more
