And also announced over the Christmas break . . .
- Daiwa emerged as the £75m buyer of Sun Life’s new 37,160m2 (400,000 sq ft) headquarters at Bristol Parkway. The insurance group said that it might redevelop 16,722m2 (180,000 sq ft) of offices at its former Bristol city-centre buildings, Sun Life Court and Marlborough House.
- Insurance companies were net investors in property in the third quarter of last year to the tune of £480m, according to the latest Central Statistical Office figures. Although pension funds were net disinvestors, by £370m, JLW said the larger pension funds were reinvesting these receipts to upgrade their portfolios.
- Lynton, the property development arm of BAA, sold the last office building at its 10,683m2 (115,000 sq ft) Wexham Springs office campus at Stoke Poges, Buckinghamshire. The 3,492m2 (37,592 sq ft) building is the fourth to be sold and was bought by an investment client of Oliver Liggins for £9.6m, showing a yield of 7.5%. Lynton forward sold the three others in 1995 to Pearl Assurance and Clerical Medical at 8% following the preletting of the whole campus to Madge Networks. Nelson Bakewell acted for Lynton.
- Prudential let a big chunk of Stannard Place in Norwich in the city’s biggest office letting for four years. Regus has taken two 15-year leases on 1,712m2 (18,425 sq ft) at a low base rent with profit share top-up. Another letting, of about 1,486m2 (16,000 sq ft), is pending to BT, leaving only 1,486m2 (16,000 sq ft) at the 5,853m2 (63,000 sq ft) scheme. Drivers Jonas and DTZ are the letting agents.
- Bentwaters Investments signed a contract to develop 426ha (172.4 acres) of land at the former US Air Force base at Bentwaters near Ipswich, conditional on planning consent. The site will include a new village and commercial development.
- Highland Properties put forward plans for a 13,935m2 (150,000 sq ft) £25m shopping centre in Motherwell town centre. The scheme will treble existing parking facilities.
- Hull city council appointed a team of consultants including Drivers Jonas to come up with ideas for developing an 11ha (27 acre) site alongside Ferensway, taking in an existing car park, bus station and the old Northern Dairies.
- Guinness and Safeway lost their appeal to build a supermarket on the site in Wandsworth, south London, which was squatted by “The Land is Ours” campaigners last year.
- The ISVA appointed Yorkshire-based council member Ian Loncaster as vice-president.
- Helical Retail exchanged missives to buy the George and Commercial hotels in Glasgow’s Buchanan Street for £12m and is in discussion with Virgin to take 3,344m2 (36,000 sq ft) of the 7,432m2 (80,000 sq ft) redevelopment.
- Terrace Hill Group made a planning application for a 4,645m2 (50,000 sq ft) speculative office building on its site at Shirley Lodge in Slough after phone company Orange pulled out.
- Helios Properties said that it would fund Guinea Group’s proposed factory outlet shopping scheme at Clacton for £17m.
- David Aspin, former Burwood House director, won planning consent to double the size of the leisure scheme at Port Solent in Portsmouth.
- Developer Unex applied for planning consent to build a £15m leisure scheme on 6ha (15 acres) off King’s Hedges Road in Cambridge, next to the Arbury Camp shopping centre site.
Daiwa emerged as the £75m buyer of Sun Life’s new 37,160m2 (400,000 sq ft) headquarters at Bristol Parkway. The insurance group said that it might redevelop 16,722m2 (180,000 sq ft) of offices at its former Bristol city-centre buildings, Sun Life Court and Marlborough House.
Insurance companies were net investors in property in the third quarter of last year to the tune of £480m, according to the latest Central Statistical Office figures. Although pension funds were net disinvestors, by £370m, JLW said the larger pension funds were reinvesting these receipts to upgrade their portfolios.
Lynton, the property development arm of BAA, sold the last office building at its 10,683m2 (115,000 sq ft) Wexham Springs office campus at Stoke Poges, Buckinghamshire. The 3,492m2 (37,592 sq ft) building is the fourth to be sold and was bought by an investment client of Oliver Liggins for £9.6m, showing a yield of 7.5%. Lynton forward sold the three others in 1995 to Pearl Assurance and Clerical Medical at 8% following the preletting of the whole campus to Madge Networks. Nelson Bakewell acted for Lynton.
Prudential let a big chunk of Stannard Place in Norwich in the city’s biggest office letting for four years. Regus has taken two 15-year leases on 1,712m2 (18,425 sq ft) at a low base rent with profit share top-up. Another letting, of about 1,486m2 (16,000 sq ft), is pending to BT, leaving only 1,486m2 (16,000 sq ft) at the 5,853m2 (63,000 sq ft) scheme. Drivers Jonas and DTZ are the letting agents.
Bentwaters Investments signed a contract to develop 426ha (172.4 acres) of land at the former US Air Force base at Bentwaters near Ipswich, conditional on planning consent. The site will include a new village and commercial development.
Highland Properties put forward plans for a 13,935m2 (150,000 sq ft) £25m shopping centre in Motherwell town centre. The scheme will treble existing parking facilities.
Hull city council appointed a team of consultants including Drivers Jonas to come up with ideas for developing an 11ha (27 acre) site alongside Ferensway, taking in an existing car park, bus station and the old Northern Dairies.
Guinness and Safeway lost their appeal to build a supermarket on the site in Wandsworth, south London, which was squatted by “The Land is Ours” campaigners last year.
The ISVA appointed Yorkshire-based council member Ian Loncaster as vice-president.
Helical Retail exchanged missives to buy the George and Commercial hotels in Glasgow’s Buchanan Street for £12m and is in discussion with Virgin to take 3,344m2 (36,000 sq ft) of the 7,432m2 (80,000 sq ft) redevelopment.
Terrace Hill Group made a planning application for a 4,645m2 (50,000 sq ft) speculative office building on its site at Shirley Lodge in Slough after phone company Orange pulled out.
Helios Properties said that it would fund Guinea Group’s proposed factory outlet shopping scheme at Clacton for £17m.
David Aspin, former Burwood House director, won planning consent to double the size of the leisure scheme at Port Solent in Portsmouth.
Developer Unex applied for planning consent to build a £15m leisure scheme on 6ha (15 acres) off King’s Hedges Road in Cambridge, next to the Arbury Camp shopping centre site.
