Warner Bros have agreed to purchase Leavesden Studios in Hertfordshire for $100 million.
Leavesden contains in the region of half a million square feet of flexible space including office space as well as stage, production and support buildings and an 80-acre back lot. The move will also see the company refurbish and extend the studios and comes shortly after local residents blocked a similar expansion at Pinewood. (more…)
The West Midlands is experiencing an increase in demand for commercial property according to a Royal Institution of Chartered Surveyors (RICS) survey.
The rise was recorded in the final quarter of 2009, with the office space market performing particularly well, industrial property doing well, and the retail market not so well. (more…)
NB Real Estate, a London-based commercial property agent, has published research revealing that approximately a third of the capital’s office lettings in the final quarter of 2009 were taken up by insurance companies.
The research revealed that in the City of London a minimum of 30% of new office space uptake, 250,000 of the 860,000 square feet let in the fourth quarter of 2009, was taken by the sector. The insurance industry is taking advantage of low rents following two years of recession which has seen many companies downsizing their office space, new office builds put on hold and a reduction of letting prices. (more…)
Research conducted by the Royal Institute of Chartered Surveyors (RICS) has revealed that demand for commercial property in Wales is on the rise.
The UK Commercial Property Survey revealed that in the last quarter of 2009 office space performed best across all commercial property sectors, with industrial space also faring well as Great Britain comes out of a recession. This comes in stark contrast to demand for retail space in the area, which has continued to fall with many town centres plagued by vacant storefronts. (more…)
Muse Developments, a leading player in UK commercial development and urban regeneration, has let a self-contained office building to Mansion Group.
Mansion, which has a large student accommodation portfolio throughout the UK comprising over 1,300 rooms, is the third tenant to take office space in the centre at Cheadle Royal Business Park in Stockport. (more…)
A large-scale development in Waverley, South Yorkshire has been approved by Rotherham Borough Council.
Waverley New Community, which will be completed in two phases, will provide a new government campus with 640,000 square feet of office space in Rotherham, costing over and above £800 million. (more…)
Property investment group Wichford has purchased The Crescent Centre building in Bristol.
The property, acquired from Henderson Global Investor’s CASPER fund for £14 million, has 88,000 square feet of office space and an annual rental income of £1.2 million. The 1970s build has been bought for an initial yield of 7.9%. (more…)
Aberdeen Property Investors (API) has revealed that it is expecting a 9.2% return per annum over the next half-decade as the commercial property markets begins to recover.
The fund manager has, across 15 transactions, invested £250 million in UK commercial property over the last quarter for its clients and intends to invest over double that again in the near future.
A Victorian courthouse in the city of Bradford is being converted into a high-tech business centre with serviced office space.
The sandstone building, which has Grade II listed status, is due for completion by the end of March this year and will cost an estimated £400,000. (more…)
Salford City Council has approved a large commercial development intended to regenerate the city centre.
The project will be the largest ever undertaken in the area and will cover an expanse of 43 acres, dwarfing the first phase of Salford MediaCity. (more…)