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…)
Real estate investment trust Hammerson is to test the water for investment interest by putting Harbour Exchange One and Two onto the market.
They are reported to be instructing Jones Lang LaSalle to put the building on to the market for £150 million, representing a net yield of 8.5% initially. (more…)
It has been announced that London has been designated as a Low Carbon Economic Area (LCEA).
It received the designation for energy efficient building and is the seventh area to be recognised under the scheme, the government strategy for a low carbon economy. It highlights £90 million of invested funding towards more sustainable building projects that have taken place recently by regional development agencies, rather than bringing new investment from the government. (more…)
Plans have been rejected for a futuristic office building in Chiswick.
The building, known as the ‘Octopus’ has been turned down due to it being too distracting to drivers, causing chaos on the roads. It was planned to sit on the Chiswick Roundabout, next to the M4 – a very busy junction. The proposed 170 ft building was designed by Ken Shuttleworth, the architect famous for designing the Gherkin. It was to be five storeys high and contain 25,000 sq ft of much needed office space in the area. (more…)
Standard Life Investments have recently announced their latest acquisition, 33 Charlotte Street, London, W1.
They have acquired the property on behalf of Standard Life Investments’ UK Property Fund, for a net figure of £19.10 million. They bought it from Capital & City Plc and the site comprises mainly of offices, as well as three restaurant units and some residential space. Purchase yield was 5.6%. (more…)
Commerz Real have instructed Savills to sell its 10 Aldermanbury building in the City of London.
The German fund managing firm are marketing the site for £260 million, representing a 5.5% yield. The building was originally developed by Legal & General and Stanhope, and is let to JP Morgan until 2025. (more…)
The office building of PricewaterhouseCoopers at More London has won the first ‘outstanding’ BREEAM rating in the UK.
BREEAM is the standard for sustainable design and environmental performance. The ratings look at many different criteria and offer an award based on the results. ‘Outstanding’ is the top rating, meaning the site has to meet or exceed 85% across all targets. (more…)
A portfolio of eight London office buildings is to be put up for sale by CB Richard Ellis Group Inc.
The buildings belong to entrepreneur Simon Halabi, and are being sold to repay investors part of the £1.15 billion in defaulted bonds which back the buildings. (more…)
A stake holder in the UK’s tallest building has plans to construct an even bigger project in the City of London.
Brookfield Asset Management Inc, based in Toronto Canada, have announced that they are searching for a site to rival the planned 64-storey Pinnacle project. The Pinnacle is the only major office space skyscraper planned for completion after 2012 in the capital’s City district. (more…)
The first tenant at the new Ealingcross office space scheme in London has been signed.
Ealingcross is based at 85 Uxbridge Road, Ealing in west London. It is owned by Neptune Land and Standard Life Investments’ Life Property Fund, represented by Montagu Evans and DTZ. It was completed last autumn, promising to bring West End standards of office space to west London. (more…)