LONDON-Warner Estate has spent $90 million on an office building in Birmingham and a distribution unit in Glasgow as it looks to grow its sector-specific-property funds.
LONDON-Land Securities has struck a deal with the UK government for the refurbishment and re-letting of the landmark Home Office building at 50 Queen Anne's Gate, London SW1. The new occupant of the 305,000-sf building will be the Department for Constitutional Affairs.
LONDON-Associated British Ports Holdings has sold its remaining shareholding in the Cardiff Bay Partnership, whose assets include the Welsh National Assembly building, to Morley Fund Management for $58 million.
LONDON-The Mall, the town centre retail fund managed by Capital & Regional, has bought St George's Shopping Centre in Preston, Lancashire from Legal & General for $180 million.
LONDON-Dutch developer AM Developments has won the development competition to secure a major city centre site in Wolverhampton, West Midlands. It plans a 485,000-sf retail mall on the New Summer Row site on the southern edge of the city centre.
LONDON-Rosemund Developments and British Land have obtained detailed planning consent at the Daventry International Rail Freight Terminal for a 725,000-sf super shed. This is the largest building of its kind in the UK, with detailed consent, that is available for immediate development.
LONDON-De Vere Resort Ownership has received full planning permission to build a $90-million golf and leisure resort on a 300-acre site by Loch Lomond, Scotland.
LONDON-De Vere Resort Ownership has received full planning permission to build a £50 million ($90 million) golf and leisure resort on a 300-acre site by Loch Lomond, Scotland.
LONDON-The HSBC Amanah Global Properties Income Fund, co-sponsored by HSBC Securities (USA) inc. and HDG Mansur Capital Group, has paid £15.9 million ($28 million) for a 62,393 sf office investment at 31 Homer Rd., Solihull, West Midlands. The deal takes the fund's UK portfolio to £90 million ($160 million).
LONDON-The ING Lionbrook fund has made its first move into the retail sector, buying the 250,000-sf Clock Towers Shopping Centre in Rugby, Warwickshire, from the Boultbee Group for $78 million, reflecting an initial yield of 6.33%.