Administrator BDO Stoy Hayward have put Waverley Gate in Edinburgh onto the market for sale.
The prestigious office building houses 217,000 sq ft of office space in the Edinburgh city centre and expected to sell for £30 million. The building was a former General Post Office and was refurbished in 2005 by Castlemore, but last year went into administration.
Fashion retail H&M are poised to buy 16,500 sq ft of space for a call centre and Creative Scotland, a cultural agency, are looking to purchase 20,000 sq ft within the building.
In 2008 the building set a record rent when Microsoft took 13,000 sq ft at £31 per square foot.However it did not obtain anymore tenants until the collapse of Castlemore during the financial crisis, when rents were slashed to £15 per square foot at the building. Last month the NHS took 40,000 square foot there.
BDO Stoy Hayward are being represented by CB Richard Ellis and Montagu Evans.
Business-focused social media network LinkedIn is to base its international headquarters in Dublin.
LinkedIn will manage international expansion from the new headquarters, but will still keep the original and main HQ in California. They will give the area a plethora of new jobs, although they are yet to confirm exactly how many new jobs will be created. Kevin Eyres, managing director for LinkedIn Europe believes that Dublin will provide them with great access to a skilled workforce. (more…)
Commercial property consultancy Lambert Smith Hampton have secured the sale of Barclays Bank Regional Headquarters in Coventry to Invista Real Estate Investment Management.
Lambert Smith acted on behalf of Telereal Trillium when selling the three headquarter office buildings, which are situated on the Westwood Business Park. Westwood is one of the Midland’s premier business parks and is also the home of RICS and the Chartered Institute of Housing. (more…)
The Irish Times have reported a steady increase in demand for office space in Dublin, Republic of Ireland.
The reasons for the increase have been attributed to a recovering economy, but also the new advantages available to tenants such as break options and better value deals. The city’s office space market had been at a stand-still for the past six months as now more companies are on the search for prime office space, mainly in the docklands and south of the city. (more…)
European fund manager Ærium have bought 3 Hardman Street, Manchester for £183.5 million.
The development was sold by Allied London, who will continue to manage the property for Ærium. Ærium is based in Luxembourg, and run a UK based property fund called Glenn Arrow UK Property, which bought the development. (more…)
Wirral Council have unveiled plans to upgrade their broadband in order to attract data centre operators.
The plans were announced at property conference MIPIM yesterday, they plan to invest £12 million on the upgrade, which hopes to make the area more appealing to potential data centre and office space tenants. (more…)
The planning application by Montpellier Estates for the new City One development in Leeds has been submitted.
The 10-acre site is to be situated near the southern entrances to Leeds. It is planned to a mixed use development, comprising of Grade A office space, retail, hotels and a casino. Previously the site was planned to be the proposed Leeds Area back in 2008, however the plans were terminated in Leeds City Council. (more…)
Liverpool Vision is launching a brand new development opportunity in the city’s business district.
Liverpool Vision is Liverpool’s economic development company and they will be using the upcoming MIPIM conference to launch the project. Jim Gill, chief executive for Liverpool Vision and Chris Oglesby, chief executive for Bruntwood will be attending the MIPIM property fair and revealing the details of the Pall Mall Exchange development plans. Liverpool Vision believe the new development marks the next phase of major expansion in the business district of Liverpool. (more…)
King Sturge have been appointed by Lancashire County Council to lease and sell office space and the new Rising Bridge development in Rossendale.
The Rising Bridge Business and Enterprise Village is expected to be completed this summer. It was funded by Lancashire County Council in partnership with the Northwest Regional Development Agency (NWDA) who provided £820,000 of the £7 million investment in the site. (more…)
A recently refurbished top floor office space is now available in Liverpool’s city centre.
The offices are located in the heart of Liverpool’s business district and offer excellent views across the city. It is the top floor of the Pacific Chambers and totals 3,663 sq ft of prime space. They are currently being marketed by Hitchcock Wright & Partners (HWP). (more…)