LONDON-Network Rail is to pull out of direct property development in favour of partnerships with external developers. The decision came as part of a wide-ranging review of the rail operator's approach to its property assets.
LONDON-Helical Bar has sold its biggest single asset, an office and retail investment on Edgware Road in London's West End to Dunedin and the US investor GMAC.
LONDON- Israeli investor Igal Ahouvi has paid pounds 29 million ($48 million) for a 370,780-sf Sainsbury's distribution unit on the Shire Business Park in Worcester.
LONDON-Terrace Hill Group has started construction of its pounds 18 million ($30 million) Queen Elizabeth Park mixed-use development in Guildford, Surrey.
LONDON-Regeneration agency Advantage West Midlands has announced it will invest pounds 115 million ($190 million) into three key regeneration projects in Birmingham at The Fort; Eastside and Longbridge.
LONDON-Halton Borough Council in Lancashire has received a new masterplan and delivery strategy for the 200-acre Widnes Waterfront site, which could attract pounds 80 million ($125 million) of public and private investment.
LONDON-The economic slowdown is finally catching up with property investment performance and returns this year are predicted to halve compared to 2002 according to the latest Property Investment Outlook from Insignia Richard Ellis.
LONDON-The Eastside Partnership, a joint venture between Peter Beckwith and Peter Stratton, has submitted its first proposals for a mixed use development on phase one of its site in Birmingham's Eastside.
LONDON-Wilson Bowden Developments has sold its 365,000-sf Water Gardens retail and office development in Harlow, Essex, to Resolution Property for pounds 70million ($115 million). This represents yields of 6.75%.