Manchester council bails out Spinningfields

Manchester’s answer to the Canary Wharf business district is getting a £15 million cash injection from the city council in the hope of kick-starting the development.

Spinningfields is due to get a helping hand out of the recession with a lease deal securing the council freehold interest in two remaining office sites. 1 and 2 Hardman Square and 2 and 3 Hardman Boulevard will be under the control of the council who will lease them back to the developer.

As a result of this, Allied London would accrue funding to build 580,000 sq ft of office space, pushing the next stage of development forward.

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New Ealingcross development secures first tenancy

The first tenant has taken the plunge and signed the lease on a speculative office development in Uxbridge.

A2 Dominion housing association have signed for 17,213 sq ft of space on a ten year lease at a rental rate of £29 per sq ft of office space.

Construction began on the glass-fronted property at 85 Uxbridge Road in Ealing on 5th November 2007. The ambitious project is being overseen by Standard Life Investment Funds Limited and was generated to create 134,000 sq ft of Grade A desk space for the area.

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Victory for Bupa in Brighton’s Trafalgar Place

Bupa International are staying loyal to their Brighton workforce by agreeing a 15 year lease with a 10 year break in one of Brighton’s premier commercial properties.

News has broken that the health care provider will occupy 45,000 sq ft of desk space at Victory House in Trafalgar Place as a result of the new tenancy.

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Planning permission for Wakefield civic offices

Permission for a new civic office development in Wakefield has been granted this week, promising £50 million woth of regeneration for the city.

The building is one of a number of projects scheduled by the Merchant Gate regeneration scheme that is hoping to change the face of West Yorkshire. The area is looking to develop a specially designed business quarter that will sit alongside retail space.

Artist’s impressions have been released outlining the design for the proposed build in the city centre, but the scheme has been issued reserved matters approval pending aesthetic design features, layout, scale and landscaping. Plans will be for a four-storey office building situated opposite the County Hall on Burton Street.

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Paribas Real Estate establish new headquarters at 5 Aldermanbury Square

Commercial real estate company BNP Paribas Real Estate have upped and moved their headquarters from 90 Chancery Lane to 5 Aldermanbury Square.

Their new City of London location is an 18-storey commercial office development formerly occupied by Richard Seifert’s 1960s Royex House.

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Milk gets the cream of free office space initiative

A cutting-edge European digital media specialist has been one of the first companies to open a Manchester office thanks to a new public and private initiative.

Milk have taken 12 months of free office space in a soft landings venture set up by the Northwest Regional Development Agency and a host of partner companies including the Manchester Investment Development Agency Service (MIDAS).

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Matterhorn Palos make £20m Newcastle investment

Two listed multi-use sites in Newcastle have been purchased in a joint real estate venture by Matterhorn Palos Partnership for £19.75 million. The deal has garnered a net yield of 8.5%.

This follows other acquisitions earlier this month for the co-venture between Simon Conway, Brett Palos and Anthony Lyons, having previously bought hospital sites from Quintain and Aviva Investors Quercas.

The buildings on the site in Newcastle city centre total 90,000 sq ft of development space and are currently let to various retail, office and leisure tenants.  Grant Thornton, Barclays Bank, 20:20 Optical, Moben Kitchens, Costa Coffee and Vidal Sassoon occupy Barclays House and Earl Grey House .

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Avanta really is a great place to work

Avanta Managed Offices has proven to be a great place to work according to the Sunday Times newspaper, which has ranked the company as one of the 100 Best Small Company to Work For in its 2010 awards.

This year marks the completion of the 10th Sunday Times Best Companies to Work For lists, which have been derived from entries by 964 companies across the UK. In total, the organisers surveyed over 230,000 employee opinions and carried out an evaluation of each organisation’s key statistics, processes and policies.

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