Plans have been announced by Strathclyde Pension Fund to open a new office in Capella building in Glasgow.
The sixth floor of the building will be taken up by the pension fund who are now owned by British Airways Pensions Trustees, the have taken up a 15-year lease at £25 per square foot pricing.
A speculated merge will see Lloyds Banking Group consolidate its northern based offices into a Manchester city centre hub that will see around 2,000 staff move.
The banking group have been linked with Spinningfields, which is hoping to be seen by businesses as the Canary Wharf of the north. It has been part of the headlines this week when Halliwells’ unfortunately announced they would be entering administration. It is expected that their vacated office at Hardman Square will be acquired by Hill Dickinson.
The property industry seemed to get a good deal out of the emergency Budget, especially when considering the rise in capital gains tax was much lower than expected.
The Chancellor’s plan to cut unprotected government departments however, is expected to have a long term effect on the industry’s fortunes.
Work is already under way to complete a base for BT’s Local Government UK operations centre in South Shields. It is expected that a recruitment drive to gain new staff is not far off to ensure that all the desk are filled on the grand opening of the centre.
It is expected that the building will house around 500 staff and best of all it gives a boost to the community that wasn’t expected two years ago when the recession first started to come into action. This is welcomed along with the investment into the Harton Staithes Riverside development which is slated for completion for the new year.
The new centre will boast four floors and will provide over 58,000 square feet of office space. The expected cost to complete this project ranges at around £10.5 million.
A long term leasing agreement has been made by BT and it will see them take up a good chunk of the office space being offered. First indications show that there will be 43,000 square feet occupied by the telecommunications giant.
BT are expected to move in next summer and with their name carrying so much weight, it is expected to create some much needed buzz in the area.
Swedish specialist flat-pack company IKEA former financial services, Ikano, are going to transfer their head office operations and along with their call centre office space to Nottingham‘s Southside Waterfront House. This is now known as Nottingham’s central business district which is experiencing rapid growth.
This deal is the largest letting of office space in Nottingham this year, which shows a growth in confidence in the commercial property market.
London‘s Main Press Centre will house an impressive 5,600 journalists and give them a hub of facilities and connectivity so that there will be no loss in service when reporting the Olympic games to the world, whether in print or the interent.
It is going to be placed next to the International Broadcast Centre, which is considered its counterpart in the broadcast world.
Somerset County Council gave the thumbs up to plans to give up just under 40% of their office space so that it can cut on going costs as part of locally drive property rationalisation programme.
On Monday, the council’s cabinet agreed in sweeping favour of approving the programme now known as Office of the Future Project, which is aiming to educate local businesses on smarter choices for their property and energy choices.
A 4.5 acre site of properties that have been classed as derelict and land in Birmingham‘s Irish Quarter were planned to have approximately £150 million invested to redevelop the area.
The development now however, has come to an uncomfortable stop in the shape of the firm responsible for the redevelopment Connaught Square Ltd collapsed over the weekend.
Real Estate Investment Trust firm Land Securities announced over the weekend that it has agreed a sale of the major office and retail project known as Park House to Qatari firm Barwa.
Barwa are now expected to pay £250 million for the Oxford Street location and it is seen as an event that helps to grow confidence in the property investment sector.
One of the three luxury apartments that were owned by John Prescott are expected to be turned into office space in new plans unveiled over the weekend.
The property is located just off Trafalgar Square, famous for being used by senior politicians, it is also a most sought after location for London‘s premium office clients.