LONDON-The Labour party is to move its headquarters to Old Queen Street in Westminster, closer to Parliament and to Downing Street than its current base in the Millbank Tower.

LONDON-The London Development Agency and the London Borough of Greenwich have selected CR Chelverton Properties and Berkeley Homes as the joint developers of a 300,000-sf leisure development for Woolwich town centre, in south-east London, fronting the historic Royal Arsenal.

LONDON-Canadian developer TrizecHahn has cut its losses in the Global Switch Internet hotel venture and sold its stake to its partner Chelsfield of the UK for £35 million ($50 million).

BRISTOL-Laing Property has been granted planning permission for a 52,000-sf Trade City scheme at Cribbs Causeway to the north of Bristol. The scheme, aimed at businesses dealing direct with the public, is the third in the Trade City network across the UK, following schemes in Discot and Exeter.

LONDON-Fast food operator KFC has opened its 11,000th branch worldwide at Gateshead in north-east England. It plans to continue opening UK stores at the rate of one per week.

LONDON-Specialist outlet mall operator Freeport is to inject four of its UK schemes into a new limited partnersip. And at the same time it is calling a rights issue to finance its expansion into mainland Europe.

We expect to see sale/leasebacks become more popular in Europe.

LONDON-London's Heathrow Airport is the world's most expensive industrial location, just ahead of San Francisco, according to a new report by international property consultant Cushman & Wakefield Healey & Baker.