Microsoft Chooses Leeds for £106.6 Million Hyperscale Datacentre Jun 27, 2024 Microsoft, one of the world’s largest organisations and most recognisable brands, has chosen to set up a new hyperscale datacentre in Leeds. This momentous move involves the purchase of 48 acres at Skelton Grange from Harworth for £106.6 million. The transaction will occur in two phases: 27 acres by late 2024 and 21 acres by […] Posted by: David Gilbank Read more
Standard Life completes £880m buy-in with the Rolls-Royce & Bentley Pension Fund Jun 27, 2024 Standard Life, part of Phoenix Group, has concluded a £880 million Bulk Purchase Annuity (“BPA”) transaction with the Rolls-Royce & Bentley Pension Fund which is sponsored by Bentley Motors Limited. This is a full scheme buy-in transaction covering c. 6,000 members of the Scheme. The buy-in included novation of the Scheme’s existing longevity swap with […] Posted by: David Gilbank Read more
Disposal of four care homes for £44.5 million Jun 27, 2024 Target Healthcare announces that it has completed the disposal of four UK care homes for £44.5 million to the incumbent tenant. The sale price reflects a modest premium to the portfolio’s carrying value at both 31 December 2023 (the latest date prior to the offer being received) and 31 March 2024, and an implied net […] Posted by: David Gilbank Read more
Imperial War Museum Seeks Development Partner for 45,000 sqm Project Jun 26, 2024 The Imperial War Museum and Gonville & Caius are currently seeking a development partner for the Duxford AvTech project, set to develop around 45,000 square metres of land at IWM Duxford into a state-of-the-art aviation technology campus. This ambitious development is intended to encompass employment spaces classified under use classes E(g), B2, and B8, focusing […] Posted by: David Gilbank Read more
London Square Secures Woolwich Site for Major Housing Development Jun 26, 2024 London Square has completed the purchase of a 4.5-acre site in Woolwich, south-east London, where it plans to construct a substantial housing development featuring over 700 homes. The acquisition, part of phases three and four of Woolwich Central, was previously held by Meyer Homes. The planned development includes a 15-storey building and has already received […] Posted by: David Gilbank Read more
UK Sees Largest Investment Trust Merger with Alliance and Witan Jun 26, 2024 Alliance Trust and Witan Investment have announced their merger, creating a massive £5bn investment trust named Alliance Witan PLC. This merger follows the retirement announcement of Witan CEO Andrew Bell, who served for 14 years. Andrew Ross, Witan’s chairman, discussed the comprehensive review process that led to the merger, noting that the board considered several […] Posted by: David Gilbank Read more
Blackstone Real Estate Acquires Village Hotels Jun 26, 2024 Blackstone Real Estate today announced that funds managed by Blackstone have completed the acquisition of Village Hotels, a hotel owner, operator and developer, from affiliates of KSL Capital Partners, a leading investor in travel and leisure businesses. Village Hotels owns and operates 33 well-located assets in large regional cities and suburban areas across the UK. […] Posted by: David Gilbank Read more
Report reveals £70 billion in additional value could be lost without investments into planning Jun 26, 2024 A report by Public First, commissioned by the Royal Town Planning Institute (RTPI), revealed that planning reform and increased housing development could miss out on over £70 billion in additional value by not investing in planning. Last week, leaders of the UK’s political parties outlined ambitious housing targets. The RTPI has stated that well-resourced planning […] Posted by: David Gilbank Read more
‘We want this sector to be a forever stable, evergreen platform’ – examining the future of the purpose-built student accommodation market at UKREiiF 2024 Jun 25, 2024 By Daniel Halstead, Real Estate Partner at Shoosmiths Despite the difficult operating conditions of recent years, the UK’s purpose-built student accommodation (PBSA) market continues to demonstrate its resilience. Investment into the sector resurged in Q1 2024, with Knight Frank’s UK Student Housing Market Update reporting nearly £750m deployed into PBSA across 21 transactions. The long-term […] Posted by: Mya Driver Read more
Firethorn Trust bolsters Living portfolio with Malmaison York acquisition Jun 25, 2024 Real estate investor, developer and asset manager Firethorn Trust has acquired the boutique hotel asset in an off-market deal. Purchased foran undisclosed sum, the 29,000 sq ft site is occupied by Malmaison under a 35-year lease, with a current rental income of £2.1m per annum. Situated on Rougier Street, within the historic walls of the […] Posted by: Mya Driver Read more
