An office complex on a West-Midlands industrial park has been bought for nearly £4m in a sale and lease back deal.
Archaylen property sign a 25 year lease for sole tenancy rights.
Archaylen property has bought 7 Binley Business Village, in Coventry, for £3.97m from Extracare Charitable Trust.
The trust which operates 28 housing villages and developments for elderly people, has signed a 25 year lease-hold to remain in the property as the sole tenant,
Lonon was the only city in the UK to record a positive rental growth in the last quarter and areas such as Birmingham have remained stable by showing no change in growth. This is according to a report written by CB Richard Ellis, who showed that Edinburgh, Manchester and Glasgow also showed no increase.
Birmingham and Manchester are currently offering the lowest price for industrial property rents at £5.50 per square foot according to the report. At the opposite end of the spectrum, Heathrow in London is the most expensive with its rents being over double at £12.50 per square foot.
Glasgow has experienced a rise in enquiries that has recently seen record lows in the beginning of 2009, it is shown in a report that was published earlier in the week that low rents in top end buildings are finally being taken advantage of.
Glasgow city centre has seen office take up more than double in the second quarter of 2010, which is against the previous quarters figures of 185,066 of square feet. These figures are thanks to property giant Jones Lang LaSalle, for the first half of 2010 increased total take up by over 100 percent against the figures from 2009.
11,000 square feet of office space in Bradford has been taken up by Morrisons Supermarket. The office will be based at Aquarius House, which has a reputation of being a high end property and is also situated on the Leeds/Bradford border.
The new offices are near the Leeds Outer Ring Road and it also boasts top quality features such as raised floors, comfort cooling and has enough on-site parking for 130 cars.
Employees from Hammersmith-based Avanta Managed Offices will be taking part in a 5.6km race for charity. It is the second time the have competed in the race as part of the JP Morgan Corporate Challenge 2010 which will help benefit the children’s medical research charity Sparks.
Avanta’s team of 15 runner swill be lead by managing director, David Alberto, he said, “We are really enthusiastic about supporting this event as it’s such a worthwhile cause. With team members from around our UK network of 18 centres taking part, we are hoping to raise more than £1,000 for sparks.
We are committed to supporting Sparks and have already raised more than £7,000 this year via our Rugby Legends dinner and charity quiz night events. In addition, we are supporting the Sparks Summer Race NIght to be held at Epsom racecourse on Thursday 1st July.”
Sparks communications director, Paul Connew was quick to pay tribute to Mr Alberto and his team. He publicly thanked Avanta’s efforts in raising money for them, but couldn’t thank them enough for their help to increase awareness of the charity that helps out so many children each year.
Council bosses have now come under scrutiny over their plans to shut down a community library and to sell a Georgian mansion for office space to raise their funds.
Handsworth Wood residents have continually expressed their disappointment with the councils ideas, and wish for the building to be kept as an asset to the commumity.
Development in London is set to be completed on a range of building hoping to bright up the drab, dull bricks of regular office space towers.
This is all part of a retail, residential and office space project, with buildings that will be mixed in terms of their size and colour. There will be private apartments and homes available in a 15-storey block, which is around 24,500 sq ft, and in an 11-storey building there will be approximately 400,000 sq ft of office space.
The colours cover all the basic spectrum in white, blue, orange, yellow, red and green. The developers didn’t comment on any other colours at this stage.
The permission for this was granted back in the summer of 2006, with construction getting under way around a year later. The building has been on schedule thankfully and will be fully opened this year in the autumn.
The buildings also have some green measures as part of their design, with 80% of heat being from renewable sources and 90% of the demolition rubble being recycled.
New plans to build a large retail, hotel and office complex were unveiled by Woodthorpe Homes back in 2007. This project stalled during the recession though, leaving many people wondering whether the complex would come to fruition.
The first scheduled date was to be within a year of the plans being announced but three years on, the developments have yet to advance any further.
The first quarter of 2010 in London has proved to be rather fruitful. There are profit charts showing a steady rise and potential results show yearnings that were previously unimaginable only 18 months ago.
It is true somewhat that the UK is still recovering with people still out of work and sectors experiencing record job losses. However, with these new predictions a number of new opportunities arise. Service office space is sure to be the winner