LONDON-British Land has raised $185 million from four property sales. A Birmingham office investment and shopping centres in Nottingham and Northern Ireland have all been sold separately.
LONDON-Kenmore Provincial has started breaking up the portfolio which it bought earlier this year from Green Property with the sale of a 16,000-sf office building in Sunbury on Thames, to the south-west of London.
LONDON-Rental growth in the UK commercial property sector had virtually stalled even before September 11, according to new research from CB Hillier Parker. And some key markets like West End and Western Corridor offices were already seeing falling rents.
LONDON-Pan-European investor CLS Holdings has bounced back from the departure of its chief executive Glyn Hirsch to buy a site on London's South Bank. The deal is CLS's first in the UK for three years.
LONDON-The predicted downturn in the central London office market has yet to materialise, according to new research from GVA Grimley. Office take-up increased by nearly a third during the third quarter of 2001.
STUTTGART-The Europa Fund has forward-sold a 300,000-sf office building currently under construction at its Boblingen Business Park, near Stuttgart, Germany to the property fund SachsenFonds.
LONDON-HSBC has signed a pre-letting on the Crown Estate's 23,500-sf development at 69-70 Pall Mall, London, SW1. It will occupy the ground floor as a banking hall with offices above.
LONDON-Proposals to extend the London Underground system into South London have been approved by Transport Secretary Stephen Byers. The suburban office centre of Croydon is likely to be the biggest beneficiary.
LONDON-Hammerson has sold the 320,000-sf Queensmere shopping centre in Slough, Berkshire to an unnamed provate investor. The proceeds will be reinvested in Hammerson's new developments in Birmingham, Bristol and Sheffield.
LONDON-Oil Giant BP is to move its global headquarters from Finsbury Circus in the City to St James's Square in the West End, where it has bought mobile phone manufacturer Ericson's headquarters.