Research firm DTZ has revealed that London’s West End has regained its title as the most expensive place to rent
office space in the world.
At the height of the economic slowdown the area fell 4 places to fifth in the overall rankings, behind Tokyo, Hong Kong, Paris and Dubai. (more…)
Manchester is second only to
London in the UK when it comes to commercial property, property agent Lambert Smith Hampton has revealed.
The city, traditionally thought to be in competition with Birmingham,
Leeds and
Bristol in England’s city rankings and
Glasgow and Edinburgh in the UK, has jumped ahead when it comes to
office space. (more…)
The Belfast Telegraph has today reported that a new development in East Belfast, which will provide the city with
office space for small to medium sized companies, has been officially opened
The City East business centre, which was opened by Lord Major of Belfast, will make 20,000 square feet available and is expected to create up to 90 new jobs in the Newtownards Road area of the city. (more…)
Think London, the official foreign direct investment agency for London, has released new figures which detail how in 2009 small and medium businesses (SME’s) accounted for in excess of 70% of new business investment in the capital.
This increased foreign investment can be in part put down to Think London’s ‘Touchdown London’ initiative. This assists businesses looking to establish a base in the capital by providing serviced office space, courtesy of Avanta, who have business centres in a variety of city centre locations (more…)
Marks & Spencer has taken a 15-year, 21,000 square foot lease on a building in Manchester’s Spinningfields office district, the largest city centre office scheme in the UK.
The retailer has taken a floor at Allied London’s 3 Hardman Street in Manchester for a Business Service Centre in Allied London’s 350,000 sq ft building. (more…)
Propertyweek.com has announced that the CIT Group is in talks to buy King’s Reach Tower, on the south bank of the River Thames in London.
The business magazine understand that the 3 acre site has been placed under offer by private equity-backed property company CIT for more than £50m, with the underbidder being Berkeley Group. (more…)
GE has signed up to occupy 100,000 square feet of its own building, the Ark in Hammersmith, West London.
The deal comes after the ‘white elephant’, the idiosyncratic office building that has stood empty for many years and attracted only one other tenant since opening in 1992, had failed to attracted tenants to occupy the majority of its office space. (more…)
Liverpool property group Downing has announced it is in a strong position to expand its property portfolio in 2010 following the sale of Broadcasting Place in Leeds for £37.65m.
The company, which owns and manages around 1m sq ft of office space in Liverpool alone and has mixed-use schemes under development across Manchester, sold the major site to Aviva. (more…)
Propertyweek.com has reported that 2009 was the worst year for lettings in the Thames Valley since the dot.com crash. Figures provided by Cushman and Wakefield show that take-up of office space in 2009 fell by more than half the 2008 figure to 891,000 sq ft, the lowest take-up since 2001.
However, there is hope for 2010 as it expected the market to stabilise with vacancy levels falling by the end of the year. Cushman & Wakefield said that, although development had fallen by 83.5% since last year, many tenants also decided to sublet excess space which meant that the supply of offices available to rent still increased by 29%. The supply of grade-A space is around 60% of the levels in the post dot.com downturn in 2003. (more…)