Offices news – Page 4
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News
C&W predicts valuations will bottom out in Q3 2024
Cushman & Wakefield (C&W) has predicted “a bottoming out for valuations” around Q3 next year, when it says rate hikes will end and cuts will commence, according to its EMEA Outlook 2024 report.
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NewsMcLaren and Arlington selected as developers for York Central regen scheme
McLaren Property and Arlington Real Estate have been chosen as the strategic developers for York Central, one of the UK’s largest city-centre regeneration schemes.
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NewsM&G signs global management firm for prime Manchester offices
Global management consultancy Alvarez & Marsal has signed a 10-year lease on 14,160 sq ft at M&G Real Estate’s Lincoln office building in Manchester.
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NewsIndustrious appoints Redmayne as MD and head of Europe
Flexible workplace provider Industrious has hired Tom Redmayne as managing director and head of Europe as the business seeks to expand across the Continent.
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NewsAviva Investors secures two tenants for Soho office refurb
Aviva Investors has agreed two leases for a combined 8,700 sq ft at 30 Golden Square in Soho, London, following a refurbishment programme to decarbonise the office building.
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NewsDivergence in performance across property types ‘likely to persist in 2024’, CBRE says
Divergence in performance across property types is likely to persist in 2024 and obsolescence, particularly of older office and retail assets, will be a key challenge for the UK real estate market next year, according to CBRE’s UK Real Estate Market Outlook 2024.
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NewsEdge and Mitsubishi snap up former WeWork West End office
Dutch developer Edge and Japan’s Mitsubishi Estate London have confirmed the acquisition of 125 Shaftesbury Avenue, a 180,000 sq ft office building in London’s West End.
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NewsMilton Keynes office building sells for £4m
Avalon House, a 30,284 sq ft office scheme in Linford Wood, Milton Keynes, has been sold to an undisclosed investor for £4m.
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OnlineGove delays decision on ITV Studios redevelopment for third time
Michael Gove has delayed his decision on plans to redevelop ITV’s former South Bank studios for the third time.
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OnlineTrio of leases brings AXA’s 22 Bishopsgate to 92% let
AXA IM Alts has agreed a trio of new leases for more than 65,000 sq ft at 22 Bishopsgate, bringing the 62-storey prime City of London offices to 92% let.
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NewsCriterion splashes £135m on Haymarket House for hotel redevelopment project
Criterion Capital has acquired Haymarket House in London’s Piccadilly Circus for a reported £135m.
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OnlineShaftesbury secures £300m refinancing loan
Shaftesbury Capital has secured a £300m unsecured loan with an initial maturity of three years.
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OnlineSainsbury’s agrees HQ move to The JJ Mack Building
Sainsbury’s has agreed to move its UK head offices to Helical and Ashby Capital’s The JJ Mack Building in Farringdon, London, in the next two years.
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NewsAllied Irish Bank to move offices to St Mary Axe
Allied Irish Bank (AIB) is to move to enlarged head office premises at 70 St Mary Axe in the City of London, also known as the ‘Can of Ham’, from its current site on Undershaft, as it seeks to support sustainability aims.
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NewsLazari submits plans for office-led scheme at iconic Fenwick Mayfair store
Property firm Lazari Investments has submitted plans to transform the Fenwick department store in Mayfair into an office and retail development.
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OnlineAware Super opens London office to deploy £5.25bn into UK and European markets
Australian pension fund giant Aware Super has opened a new London office that will focus on the investment of £5.25bn into the UK and European markets.
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NewsEY reviewing future in London headquarters
Ernst and Young (EY) has launched a property review of its London headquarters ahead of the end of its lease at the More London offices near London Bridge.
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OnlineHelical swings to £93.1m loss as NAV slumps 17.5%
London-based investor Helical swung to a £93.1m loss in the six months to the end of September, against a profit of £17.2m in the same period the year before, as net asset value (NAV) slumped 17.5%.
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NewsUK Commercial Property REIT drops Picton merger
UK Commercial Property REIT (UKCM) has ended merger discussions with Picton because its largest shareholder, Phoenix Life, which controls around 43% of UKCM’s share capital, does not support the terms proposed.
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OnlineWorkspace value falls lead swing to loss, but trading improves
Workspace Group swung to a pre-tax loss of £147.9m compared to a profit of £35.8m a year before, as it posted a 10.2% fall in net tangible assets (NTA) and a 6.6% fall in the value of the portfolio in the six months to the end of September.
