Property investment firm Threadneedle Property Investments have announced the signing of three brand new leases at 85 Newman Street in London’s West End.
The new tenants they have signed will help Threadneedle obtain an increase in rental income by £258,000. (more…)
Legal & General are reported to have made an offer on 26 Red Lion Square, London.
The building is currently owned by an offshore investor, but Legal & General have registered their interest in the building with a £52 million offer, offering a 8.2% yield on the property.
26 Red Lion Square is currently leased to Cable and Wireless, which expires in January 2023. They in turn sub-lease most of the 107,000 office space development to The Economist Group. The current rent is £28 per sq ft, with a break in contract in 2013. This earns a net income of 34.9 million per annum. Part of the ground floor and the entire fourth to sixth floors are sub-let by Cable and Wireless to TSL Education. (more…)
It has been announced this week that Sky News has moved offices and studios to the iconic Gherkin building in the City of London.
Abbey Business Centres announced that Sky News had joined their clients at 30 St Mary Axe, better known as the Gherkin, in the City of London. Sky News’ Chief Business Editor Jeff Randall’s team will be presenting live from the building on the 15th floor.
The Gherkin is an ideal move for Sky News, the location is in the heart of the financial district of London and their floor offers panoramic views of St Paul’s Cathedral, Tower 42 and Westminster. The views will be a breathtaking backdrop to the broadcasts which will also be done live from the studios there. (more…)
Professional services group Deloitte has announced an expansion into commercial property. They are looking to create a strong position for themselves in the £2 billion commercial property consulting market and have recently acquired Drivers Jonas. Drivers Jonas is one of the UK’s oldest property and estate firms, and the eighth biggest in Britain.
However, money will not be changing hands during this deal. The partners at Drivers Jonas will simply be incorporated into the Deloitte partnership, meaning a possible rise in earnings.
Deloitte has grown to triple its size in just over ten years since John Connolly’s take over as chief executive. John Connolly is incidentally set to end his term as chief executive in the next year, and this is his second merger this month after Deloitte acquired information provider ReportSource. (more…)