Property Week - NEWS

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20/10/2017 12:36 AM
London office market ‘high overvalued’ warns Fitch Ratings
The core London office market remains “highly overvalued” even after having cooled since the UK’s decision to leave the EU, according to a report from Fitch Ratings.

20/10/2017 12:12 AM
Kennedy Wilson and Kennedy Wilson Europe complete $8bn merger
Kennedy Wilson Holdings (KW) has completed its merger with Kennedy Wilson Europe Real Estate (KWE), creating a new global real estate investment and asset management platform with an $8bn (£6bn) enterprise value.

19/10/2017 11:23 PM
UK commercial property value fell 4.6% last year
The total value of all UK commercial property fell 4.6% from £926bn in 2015 to £883bn in 2016, according to a new report from the Property Industry Alliance (PIA).

19/10/2017 11:19 PM
CL Capital acquires Holiday Inn Birmingham Walsall
Asian-based investment fund CL Capital has acquired the Holiday Inn Birmingham Walsall from Canada Life.

19/10/2017 11:06 PM
The Avenue office space fully let six months after completion
The office space at The Avenue in London’s West End is now fully let six months after completion.

19/10/2017 09:59 PM
IWG takes West End office for co-working flagship
Flexible workspace provider IWG has signed a lease to occupy all six floors for the The Harley Building, Marylebone which will be the flagship location for its Spaces co-working brand.

19/10/2017 08:58 PM
South Korean investors pounce on Tesco DC
A consortium of South Korean institutional investors alongside Roebuck Asset Management have acquired a Tesco distribution centre in Avonmouth for £71.4m.

19/10/2017 08:32 PM
Avison Young snaps up Manchester's WHR
Avison Young has agreed to acquire Manchester-based WHR Property Consultants in a deal that almost doubles the size of its UK business, Property Week can reveal.

19/10/2017 08:19 PM
AEW UK REIT falls short on fund raising
AEW UK REIT has raised  £28.1m from a share issue announced last month, which had aimed to bring in between £40m and £60m.

19/10/2017 08:00 PM
Castle among high-value lots helping LSH hit £17.2m
Lambert Smith Hampton (LSH) raised £17.2m at its 16 October auction, £2.5m more than at its October 2016 sale.

19/10/2017 07:36 PM
IWG shares plunge 32.22%
Shares in IWG, the serviced office giant formerly called Regus, tumbled down 32.22% on Thursday following a profit warning.

19/10/2017 07:09 PM
Bumper Q3 deals give cause for year-end optimism
A flurry of large deals including nine over the £400m mark resulted in a bumper third quarter in which investment volumes hit £15bn, research by Lambert Smith Hampton (LSH) has shown.

19/10/2017 12:00 PM
Bunnings unveils its bold expansion plan
DIY retailer Bunnings has revealed plans to open more than 100 new stores and roll out a new high street format in the UK.

19/10/2017 12:00 PM
Bank of Montreal launches search for larger London HQ
The Bank of Montreal is on the hunt for a new and larger London headquarters - making it the latest bank to defy expectations of a Brexit-related cool-off in occupier demand in the capital.

19/10/2017 12:00 PM
Ilke Homes increases construction target
New modular construction business Ilke Homes has appointed Björn Conway from EY as its chief executive, as well as upping its production target to 2,000 units a year.

19/10/2017 12:00 PM
F&C UK Property Fund up by a third since EU referendum
F&C UK Property Fund is on an acquisition drive after experiencing inflows of more than £100m since the EU referendum, increasing the retail fund’s total value by a third to £416m.

19/10/2017 12:00 PM
First shed space trading platform
Logistics developer Gazeley has teamed up with proptech firm Stowga to launch an online marketplace for unused warehouse space at its Magna Park Lutterworth scheme in the first tie-up of its kind.

19/10/2017 12:00 PM
New debt platform looks to offer flexible financing deals
Three financiers including former co-head of Investec Specialist Private Bank, Paul Stevens, have launched a real estate finance business called ASK Partners.

19/10/2017 12:00 PM
Distribution hub bought for £41m
South African investment firm Equities International has acquired a Midlands distribution centre for £41m.

19/10/2017 12:00 PM
Aviva forward funds Bristol office building
Aviva Investors has forward funded an office building in Bristol, which is pre-let to engineering firm Babcock Integrated Technology, for just over £30m.

19/10/2017 05:08 AM
Barnard Marcus revenue up
Barnard Marcus sold 190 of the 287 lots offered at its 10 October auction, raising £22.9m.

19/10/2017 04:25 AM
Triuva gets Green Day gig with €48.5m buy
Triuva Kapitalverwaltungsgesellschaft has acquired the core office building Green Day in Wroclaw, Poland from Luxembourg fund GLL for €48.5m (£43m).

19/10/2017 03:47 AM
South African investors secure off-market City of London office for £19m
A group of South African private investors have acquired 35 King Street in the City of London in an off-market deal for £19.4m

19/10/2017 03:42 AM
Green light for Keepmoat's £12m 'healthy new town' housing
Housebuilder Keepmoat Homes has been given the go-ahead by Darlington Borough Council to deliver 81 new homes in Red Hall as part of the NHS’s ‘Healthy New Towns’ initiative.

19/10/2017 01:40 AM
Clutch to make UK debut on Great Portland St
Tokyo-based men’s fashion magazine Clutch has signed for its first-ever London site at 78-80A Great Portland Street, Property Week can reveal.

19/10/2017 12:42 AM
Regus owner’s share price slumps by a third
Shares in IWG, the serviced office giant formerly called Regus, plunged by a third this morning following a profit warning.

19/10/2017 12:37 AM
City & Provincial cash out on Old Kent Road sale to council
City & Provincial Properties has sold a 2.5-acre site at 709 Old Kent Road to the London Borough of Southwark for £15m.

19/10/2017 12:26 AM
Encore+ acquires £50m Eindhoven office
Encore+ has acquired the Kennedytoren office tower in Eindhoven for €50m (£44.6m).

19/10/2017 12:01 AM
Green light for Gazeley to create 560,000 sq ft industrial space in Biggleswade
Central Bedfordshire Council has granted planning permission to IDI Gazeley to create 560,000 sq ft of speculative industrial space in Biggleswade, Property Week can reveal.

18/10/2017 11:03 PM
New senior VP to guide WeWork EMEA growth
US co-working giant WeWork has appointed Cisco’s former managing director of workplace resources Ronen Journo as its new senior vice president for enterprise and workplace strategy, as of 7 November.

18/10/2017 11:03 PM
Redrow unveils plans to build 71-acre Canterbury community
Redrow has entered into an agreement with Quinn Estates and Invicta Properties to deliver up to 250 new homes at Hoplands Farm, a 71 acre parcel of land in Hersden, to the north east of the City of Canterbury.

18/10/2017 09:29 PM
UBS mulls expansion of debt platform into continental Europe
UBS Asset Management’s debt fund has completed £45m of new loans in the third quarter as the firm looks to expand its lending platform into continental Europe and explores the potential of an open-end structure for its next fund.

18/10/2017 09:18 PM
AEW and Natixis complete third close at over €500m
AEW and Natixis Asset Management have completed a third closing for the pan-European debt fund, SELF II, bringing the total raised to more than €500m.

18/10/2017 08:58 PM
SEGRO contracts £8.8m of new headline rent in Q3
SEGRO has reported strong leasing figures for the third quarter, contracting £8.8m of new headline rent, including £3.8m in rent from existing space.

18/10/2017 08:56 PM
LondonMetric sells two DFS retail stores for £14m
LondonMetric has announced the sale of two DFS retail properties in Swindon and Swansea for £13.9m, on behalf of its DFS joint venture.

18/10/2017 05:49 PM
Unilever's Surrey HQ for sale
Unilever’s UK headquarters in Leatherhead, Surrey, has been put on the market by its Malaysian owners.

18/10/2017 05:41 PM
BrickVest goes on hiring spree after fundraising
BrickVest is hiring up to 15 new employees and searching for larger offices following a £7m fundraising round led by German real estate lender Berlin Hyp earlier this month.

18/10/2017 05:38 PM
Bould takes role at ‘proptech pioneer’ Coyote
Former GVA chief executive Rob Bould has been appointed non-executive director at new proptech venture Coyote.

18/10/2017 05:21 PM
NCP sets out plan to rapidly grow car park estate
Car park operator NCP has set a target to add 100 sites to its estate over the next three years.

18/10/2017 05:04 PM
L&G Capital looks to build family homes for rent
Legal & General Capital plans to broaden its build-to-rent (BTR) reach beyond city centre apartment living to include single-unit family homes.