Property Week reports that Canary Wharf Group is the frontrunner to develop the Shell Centre on London’s South Bank into residential and office space. The group has financial backing from Qatar and is understood to be Shell’s preferred development ... Read more
DTZ today reported a pre-tax loss before exceptional items of £0.6m for the year to 30 April, compared with a profit on the same basis of £3.0m the previous year. It said it was disappointed with the results but noted that the second half of its ... Read more
Rent levels for available office space in the UK are rising, says Jones Lang LaSalle. While occupiers can still obtain good incentives in some regional centres, the window of opportunity is expected to close as the lack of speculative new development ... Read more
The Department of Energy & Climate Change (DECC) has decided to keep the CRC Energy Efficiency Scheme, despite calls for it to be axed in favour of an increased Climate Change Levy. After consultation with business, the public sector and ... Read more
As the market waits for Saint George Participations (SGP) to make an offer for the remainder of DTZ that it does not already own, a report in today’s Telegraph appears to be cranking up the pressure on the French group to act, with talk of Australian ... Read more
Jones Lang LaSalle says industrial occupiers across the EMEA region are continuing to grow in confidence, which is starting to lead to new flows of corporate investment. The firm says occupiers are still mainly focused on space upgrades and network ... Read more
British Land has bought Grenfell Island, a mixed offices and leisure development in Maidenhead, for £74m. The 198,000 sq ft scheme includes 113,000 sq ft of office space let to Hutchison Telecom as its UK headquarters, and a 10-screen Odeon cinema ... Read more
Minerva has agreed to a takeover by Jamie Ritblat’s Delancy and US company Area Property Partners, reports The Times today. The buyers are paying 120.5p per share in a deal that values Minerva at £202.6m. The paper notes that Delancy and Area ... Read more
Work on a distinctive City of London offices tower is about to restart after the owners of the property agreed fresh financing for the project, says the Financial Times today. The 64-storey Pinnacle tower on Bishopsgate, nicknamed the Helter Skelter, ... Read more
Listed REIT New River Retail informed the London Stock Exchange this morning that it has agreed to buy a portfolio of four UK shopping centres from Zurich Assurance for £68m, which it says “represents an attractive net initial yield of 8.0%”. ... Read more
