Derwent: Return to office mandates boost London landlord Property Ongoing high demand for central London offices, combined with low supply of best-in-class space, has boosted real estate investment trust (REIT) Derwent in the first quarter of the year. Derwent said leasing activity in the year to date totalled £2.7m, with a further £3.7m of rent under offer. Open market lettings ticked up by 2.7 [...]
Knight Frank makes the City its global headquarters Property Knight Frank, the global asset management and real estate giant, has signed a deal to relocate its global headquarters to the City of London. The business will relocate from its current HQ at London & Regional’s 55 Baker Street in the West End, where it has been since 2008, to One Liverpool Street after penning an [...]
Birmingham landmark on sale in cut-price deal as value slashed in half Property A landmark office building in Birmingham city centre has been put up for sale for half what it was bought for in 2019. The Lewis Building and its adjoining neighbour Priory Court in Bull Street were acquired by Gulf Islamic Investments for £140m. The investor, which has offices in Dubai and Abu Dhabi, bought the [...]
UK consumer confidence may struggle to ‘ride out’ uncertainty January 13, 2025 Consumer confidence ended 2024 on a high, but analysts have warned that it might not be able to ride out a wave of economic uncertainty this year. Confidence was at its highest since April 2021 in December, according to Yougov’s and CBRE’s monthly consumer confidence survey. Business activity, optimism about the future, and perceptions of [...]
Retailers reassess how to reel in cash-strapped Brits for Black Friday November 16, 2024 As Brits’ loyalty to brands continues to erode and their commitment to seeking value continues to rise, retailers are optimising their digital presence in hopes of a bumper festive season. With online spending reaching ever-higher levels, and brand loyalty going down thanks to the increasing ease of switching between products on the internet, it’s become [...]
Channel 4 tunes in to Gary Neville’s Manchester landmark October 14, 2024 Channel 4 is to open a major new office in Manchester city centre in the £400m landmark being constructed by Gary Neville‘s firm. The channel has signed up to take 12,293 sq ft of space at No.1 St Michael’s, the £150m element of the development. Led by Neville’s Relentless Developments, the scheme also includes a [...]
Leeds landmark sold for almost £80m in city’s biggest deal for over five years October 8, 2024 A landmark building in the heart of Leeds’ financial district has been sold for almost £80m in the city’s largest office deal for more than five years. Ashtrom Properties UK has acquired Central Square, which is home to the likes of M&S, PwC an Sky, for £78m. Central Square comprises 217,249 sq ft of office [...]
Luxury retail might be struggling globally, but it’s thriving in London October 4, 2024 It’s somewhat surprisingly that luxury retail in London is doing so well, particularly given eye-catching figures about a wider downturn in the luxury market, the effect of the tourist tax, and the potential exodus of high-net-worth non doms from the capital. But while these “handicaps” – particularly the tourist tax – have hampered demand somewhat, [...]
The Lanesborough: Value of five-star London hotel falls as loss widens September 13, 2024 The value of five-star hotel The Lanesborough has been cut as its pre-tax loss widened during its latest financial year.
Mike Ashley’s Frasers Group buys city hot spot September 13, 2024 Mike Ashley’s retail empire, Frasers Group, has acquired a major shopping centre in Lancaster. St Nicholas Arcade has been snapped up by the Derbyshire-headquartered listed giant in a move which it has described as “further strengthening the group’s commitment to physical retail in the UK”. Frasers Group added that the 160,000 sq ft shopping centre [...]