LondonMetric embarks on £26m shopping spree at Marks & Spencer June 2, 2015 LondonMetric said yesterday that it has snapped up a portfolio of five M&S Simply Food stores for £26m, as it boosts its exposure to the booming convenience market. The FTSE 250 retail and distribution warehouse speciality said the acquisitions come on top of a recent letting of 11,300 sq ft to M&S for 20 years [...]
Brookfield wins race to land deal for Center Parcs June 2, 2015 CANADIAN investment giant Brookfield yesterday won a hotly contested race to buy UK holiday parks operator Center Parcs from private equity firm Blackstone in a deal worth about £2.4bn. Brookfield, which also bought Canary Wharf’s owner alongside Qatari Investment Authority earlier this year, will take control of five resorts operated by Center Parcs across the [...]
Regional revival and New Covent Garden Market boosts St Modwen June 2, 2015 ST MODWEN posted a strong start to the year on growing momentum in the regional property market, and said that first-half profits would be “significantly ahead” of the same time last year. The FTSE 250 company, which is redeveloping Britain’s biggest flower and vegetable market, New Covent Garden in Nine Elms, said yesterday that it [...]
British Land raises £350m via bond issue June 2, 2015 BRITISH Land, one of the UK’s biggest developers, has launched a £350m convertible bond. The senior, unsecured convertible bond, due in 2020, will be used to fund the company’s acquisition of two central London properties and future spending. British Land splashed £210m on increasing its ownership of One Sheldon Square in Paddington in April, and [...]
City Moves for 3 June 2015 | Who’s switching jobs June 2, 2015 Fairstone Group The financial advisory business has appointed Hannah McGivern as marketing manager. She joins from Gardiner Richardson, a creative communications agency, and has also held positions at Bond Dickinson and Newcastle Science City. MSCI Antti Savilaakso has been appointed European head of environmental, social and corporate governance (ESG) research at the research-based indexes and [...]
UK house prices: Mortgage approvals have their biggest spike since April 2009 June 2, 2015 The number of mortgages granted in April for new homes grew at its fastest rate since April 2009, according to data from the Bank of England. The figures Some 68,076 mortgages were granted in April for house purchase, compared with 61,945 in March – an increase of 9.9 per cent – the biggest monthly percentage change [...]
Canary Wharf owner Brookfield buys Center Parcs June 2, 2015 After all the effort Brookfield put into buying Songbird, the parent company of Canary Wharf, it's clearly in need of some leisure time: the Canadian investor has just bought Center Parcs from Blackstone. Read more: Brookfield – Center Parcs' next big owner Although its price was undisclosed, it is thought Brookfield paid somewhere in the region [...]
British Land issues £350m convertible bond to fund One Sheldon Square Paddington and Surrey Quays acquisitions June 2, 2015 British Land, one of the UK's biggest developers, has launched a £350m convertible bond. The senior, unsecured convertible bonds, due in 2020, will be used to fund its acquisition of two central London properties and future spending. The developer splashed £210m on increasing its ownership of One Sheldon Square in Paddington in April, and bought [...]
London house prices pull away from UK again June 1, 2015 HOUSE prices in the capital surged again in April, despite fears over taxes during the election, as London’s market remains detached from that of the rest of the UK. Figures from the Land Registry show the average price in London rose 2.3 per cent in April alone, and 10.9 per cent in the year, coming [...]
City Moves for 2 June 2015 | Who’s switching jobs June 1, 2015 DTZ The commercial real estate services provider has announced three appointments to its data centres team. Mark Trevor joins as senior director, Begoña Cerdan joins as a director, and Michael Hunter joins as an associate director in its London office. Lloyds Bank Andrew Charnley has been appointed regional head of the trade and working capital [...]