Stewart Milne Developments have sold their Acergy development in Westhill for £36 million to Prupim. The deal garnered a net initial yield of 7.1%.
The Acergy office site is set in extensively landscaped grounds and is the 17-acre home to Acergy UK Limited, a seabed-to-surface engineering and construction contractor.
The Royal Institution, illustrious charity and renowned centre for scientific research, is alleged to have contravened the charity law under which it leased its office space.
An investigation is under way as the Charity Commission seeks to establish whether RI chairman Adrian de Ferranti has leased offices to his private equity firm Ferranti Ltd without expressed legal permission.
Manchester City Council today passed consent for a 270,000 sq ft redevelopment programme of Elizabeth house at St Peter’s Square in Manchester.
The office spaces will soon be known as One St Peter’s Square.
London investment and law firms are making a move to maximise their commercial real estate by relocating to new lettings within the exclusive areas of Square Mile and Mayfair.
1 Finsbury Circus has been just one of the many properties in a 700,000 sq ft overhaul of office spaces in the capital city, with international law firm Stephenson Harwood taking the majority of tenancies offered by Hermes Real Estate.
The UK’s leading broker of serviced office space, officebroker.com, is pleased to announce the launch of the Serviced Office Review: UK 2009.
This detailed review, which is the first in a series of regional and national reports, provides an insight into the multimillion pound serviced office industry occupied by providers such as Regus, Servcorp and MWB. As the largest independent broker in the UK, working with over 95% of all serviced office providers, officebroker.com is perfectly positioned to monitor, record and comment on the shape, size and levels of business entering the growing serviced office market.
A prime commercial property in London has been taken off the market at a staggering £40 million, heralding an upturn in the fortunes of the UK office real estate market.
Aegeon Asset Management acquired the office building from Stenham Property, who had previously bought it from Grosvenor Estates in May 2009 for £25 million. This puts Stenham Property in the favourable financial position of a £15 million profit from the recent deal.
The East Midlands Development Agency has revealed a £20 million fund designed to support urban business development with the aim of boosting growth and innovation.
The move to set up The East Midlands Development Fund marks a bold step towards a brighter future for many schemes blighted by the downturn and will create a new atmosphere of open business.
EMDA Chairman Dr Bryan Jackson explained the scheme further, “Funding will be offered in the form of equity, loans or guarantees and the EMUDF will make repayable investments in schemes that will secure the future growth and competitiveness of the region. The model we’ve adopted will also ensure that we create a longer term legacy for the region in the form of an ongoing stream of investment.”
For British Land, 8.2 is certainly the magic number. The property investment company has just reported a staggering 8.2pc growth in their portfolio, now valued at £8.2 billion.
As one of the forerunners of the UK property market, the encouraging boost in their third-quarter report signals a renewed demand for property investment and development post-recession.
