Regional REIT on ‘much stronger footing’ after emergency capital raise September 10, 2024 Commercial property specialist Regional REIT has reported a relatively robust first half despite an emergency capital raise earlier this year and a still-challenging commercial property market. The London-listed firm, which in June issued a £110m capital raise to stave off liquidation, said it had paid off in full its £50m retail bond and that the company is [...]
Citypoint tower up for sale as owner seeks cut-price deal September 2, 2024 Canadian asset manager Brookfield has put Citypoint tower up for sale in what could be the biggest commercial office sale in the capital all year. Brookfield has reportedly started the sale in the hope of avoiding a default on a £460m loan secured on the building, according to the FT, which it previously extended in [...]
Tallest skyscraper outside London approved August 29, 2024 Plans to build the tallest skyscraper outside London have been approved by leaders in Manchester. Standing at 71 storeys and 213 metres tall, the skyscraper will surpass the height of the previous record holder outside London – Manchester’s Deansgate Square South Tower – which is 201 metres high. However the new skyscraper, which is to [...]
Derwent London upgrades rental guidance thanks to ‘world class’ London August 8, 2024 An acceleration in rental growth and a more stable investment environment has helped office giant Derwent London upgrade its rental guidance off the back of “really active demand”, its boss said. In its half-year results this morning, the FTSE 250 office specialist said its income grew but valuations continued their decline. Derwent, which owns flagship [...]
Flight to quality gets underway as half of London offices set to be ‘unlettable’ by 2027 August 7, 2024 Changes to energy efficiency requirements mean that a majority of office spaces in the capital won’t meet the minimum standard for leasing within the next four years, making it a race to re-fit before 2027. Minimum energy efficiency standards (MEES) currently require that rented commercial properties in England and Wales have a minimum EPC rating [...]
Newriver’s Ellandi acquisition gives boost to results as firm eyes up Capital & Regional bid August 5, 2024 London-listed Newriver REIT's acquisition of Elandi Management helped it buck the downward trend plaguing much of its sector to post a strong operational performance in its first quarter as it tries to sew up a deal for rival REIT Capital & Regional.
Hammerson: Shopping centre giant hit with £500m loss after selling stake in Bicester Village July 25, 2024 British shopping centre giant Hammerson has taken a £500m loss on the £1.5bn deal to sell its share in the company behind Bicester Village, according to just-filed documents.
Helical slashes dividend despite London lettings and development progress July 17, 2024 Progress in flagship central London office developments and the successful lettings of three Aldgate East spaces has led office specialist Helical to underline its confidence it has in the capital's office market despite having to slash its dividend.
London offices: Bigger is better, as construction of smaller spaces in the capital dries up July 17, 2024 For the first time in at least two decades not a single new office scheme smaller than 100,000 square feet began construction in London in the first half of this year, despite demand for larger spaces reaching record highs.
London landlords struggle to shift office space due to high rates and hybrid work July 10, 2024 Landlords wanting to shift large London office this year have struggled to find a willing buyer, as nerves over hybrid working and higher interest rates continue to plague the upper end of a market that is still yet fully to recover from the pandemic.