LONDON-Cushman & Wakefield Healey & Baker is to buy the specialist European fund management business Fountain Capital Partners, recently the subject of a management buyout from Catella.

LONDON-Morley Fund management has pulled out of the Bristol Alliance, the consortium put together to carry out the £500 million ($900 million) Broadmead development in Bristol. Its stake has been bought by the remaining partners, Land Securities and Hammerson.

LONDON-A joint venture between Amec Developments and Taylor Woodrow Developments has been selected as preferred developer for the Lewisham Gateway site in Lewisham, south-east London. Their proposals include around one million sf of development including apartments, shops, bars, restaurants and leisure amenities.

LONDON-Norwich Union has injected its 320,000-sf Galleries shopping centre in Bristol into the Mall Fund, Capital & Regional's town centre retail fund, in return for £123 million ($225 million) of units in the fund. The Mall now owns 5.5 million sf in 18 shopping centres across the UK worth £1.5 billion ($2.8 billion).

LONDON-After a two-year wait, Resolution Property, Blackstone and JER Partners have attracted the first occupier to their London Gate business park at Hayes, west London, with a56,000 sf office letting.

LONDON-Calthorpe Estates and Barberry Developments have been granted planning permission to proceed with a £40-million office ($75-million) 123,000-sf office development at Five Ways in Birmingham city centre.

LONDON-Quintain and Countryside Properties have forward sold the commercial element of their mixed-use development at Merton Abbey Mills, South-West London to AXA Sun Life for £15.7 million ($28 million, reflecting a net initial yield of 7%.

LONDON-ProLogis has started building its first phase of speculative warehouse development at the former Michelin Tyre factory at Campbell Road, Stoke on Trent. The first unit will measure 250,000 sf and will be extendable to 500,000 sf.