LONDON-The Merseyside Pension Fund has sold the freehold of the Arun Retail Park in Bognor Regis, West Sussex, to the BBC Pension Trust to show a net initial yield of 7.45%.
LONDON-UK consumer spending has remained buoyant following the 11 September terrorist attacks, and according to Knight Frank this should mean a stable retail real estate market despite economic pressures.
LONDON-The office market in fringe districts like Soho has suffered since 11 September, but other parts of the West End like Victoria and Westminster appear relatively unscathed, according to new research from Lambert Smith Hampton.
LONDON-The office market in fringe districts like Soho has suffered since 11 September, but other parts of the West End like Victoria and Westminster appear relatively unscathed, according to new research from Lambert Smith Hampton.
LONDON-Canary Wharf Group has reached an agreement with the British Waterways Board, which controls the density of development in Docklands, to increase the floorspace on the original Canary Wharf estate from 14 million to 15.7 million sf.
PARIS-The industrial market in the French capital and the surrounding Ile de France region is well positioned to survive any economic downturn, according to King Sturge. Although demand has fallen there is very little speculative space available.
LONDON-Retail investor Capital & Regional has concluded negotiations with Morley Fund Management to inject eleven of their retail parks into a new fund to be run jointly. The partners plan to bring in other investors next year.
LONDON-Liberty International has bought the 275,000-sf Kings Reach Tower on the South Bank of the Thames. The office block is the headquarters of struggling publishing giant IPC.
LONDON-Menswear retailer Austin Reed Group has unveiled redevelopment plans for its brand flagship store on London's Regent Street. The store is to be extended to 32,250 sf and 13,000 sf of speculative offices will be built on the upper floors.