Landsec announces the purchase of an additional 25% stake in Bluewater Dec 22, 2021 Landsec has today announced that it has completed the acquisition of an additional 25% share in Bluewater from Lendlease Retail Partnership for £172m representing a net initial yield of 8.15% and an equivalent yield of 8.25%. In a separate deal, Landsec will sell 25% of this share to co-owner M&G for its pro rata share […] Posted by: Mya Driver Read more
London hotel market recovery set to continue despite Omicron setbacks Dec 22, 2021 For the first time since the start of the pandemic, the performance of London’s hotels was more encouraging than regional hotels across the UK, according to research from Knight Frank, the leading independent global property consultancy. The recovery of the London hotel sector steadily continued throughout October with occupancy rising 2.6% to 48.2%. Knight Frank […] Posted by: Mya Driver Read more
LondonMetric acquires Savills IM Income and Growth Fund for £122m Dec 22, 2021 LondonMetric Property Plc has acquired Savills IM UK Income and Growth Fund in a corporate transaction valued at £122.2 million, reflecting a blended yield on cost of 4.3% and an anticipated reversionary yield of 4.9%. The Fund owns a portfolio of 15 assets across 482,000 sq ft with 75% in urban logistics and the remainder […] Posted by: Mya Driver Read more
UK Commercial Property REIT acquires Precision Park in £94m deal Dec 22, 2021 UK Commercial Property REIT Limited, announces that it has continued to strengthen its significant industrial and logistics portfolio with the circa £94 million acquisition of Precision Park in Leamington Spa, Warwick. This follows the acquisition of three new warehouse units, known as Sussex Junction, which are currently under construction near Gatwick airport via a circa […] Posted by: Mya Driver Read more
MEPC get green light for Bristol office development Dec 21, 2021 Plans for three new office blocks around a ruined church at the edge of Castle Park in Bristol have got the go-ahead from city planners. Developer MEPC can now proceed with its plan to replace three former 1960s bank buildings at the corner of Wine Street and High Street with one nine-storey and two eight-storey […] Posted by: Mya Driver Read more
Pocket Living submits plans in London for Build to Rent scheme Dec 21, 2021 Innovative housing developer Pocket Living has submitted a planning application to the Old Oak Common and Park Royal Development Corporation (OPDC) for a Build to Rent scheme. The site is at Atlas Wharf, on Atlas Road, NW10, adjacent to the Grand Union Canal. Whilst within the London Borough of Ealing, the site falls under the […] Posted by: Mya Driver Read more
LEON accelerates growth ambitions – with 50 new restaurants planned in 2022 Dec 21, 2021 Leon is set to open more than 50 restaurants across the UK next year as part of a newly unveiled growth strategy. The EG Group-owned healthy fast food chain had previously announced it was to open 20 restaurants next year. Now, it has revealed plans to double the pace of its store rollout programme, including […] Posted by: Mya Driver Read more
Lendlease and CPP Investments JV to bring forward International Quarter London project Dec 21, 2021 International real estate group, Lendlease, and Canada Pension Plan Investment Board (CPP Investments) have expressed a vote of confidence in the London office market through the establishment of a new 50:50 joint venture partnership dedicated to the development of a new office-led neighbourhood at International Quarter London (IQL). This partnership further builds upon Lendlease and CPP Investments’ […] Posted by: Mya Driver Read more
Falkirk Growth Deal set to attract £1bn of investment into region Dec 21, 2021 Up to 2,000 jobs and £1bn worth of future investment is expected to result from the signing of the Heads of Terms agreement between UK Government, Scottish Government and Falkirk Council in the Falkirk Growth Deal. The agreement means 11 projects can now use a total of £80m investment from UK and Scottish Governments, £45m […] Posted by: Mya Driver Read more
City of London Corporation sees almost 70% increase in office development in 2021 Dec 21, 2021 The City of London Corporation has revealed figures showing a year-on-year increase in office floorspace approved within new Square Mile developments. In 2021, its Planning and Transportation Committee resolved to approve a total of 4,360,944 sq.ft* of new office floorspace. This compares with 2,582,348 sq.ft in 2020 – an increase of almost 70% year on year. […] Posted by: Mya Driver Read more
