Dutch fashion chain The Sting has been confirmed as the new tenant of the vacant Zavvi store at 225-229 Piccadilly Circus, W1. It has signed a 15-year lease on the 33,900 sq ftstore, which will be its UK flagship. The quoting rent was £1.95m pa. Cushman & Wakefield and Nash Bond advised landlord Standard Life; Harper Dennis Hobbs acted for The Sting.
Premier gets go-ahead at Grosvenor House
Sir David Murray’s Premier Property Group has been given the go-ahead for its Grosvenor House development in Southampton, Hampshire. The consent followed lengthy negotiations with the council, which included reducingthe height of the building by one floor. The 100,000 sq ft, 10-storey office development was designed by Scottish architect Archial.
Cushman grows in Japan
Cushman & Wakefield has bought Pacific Investment Corporation, the private fund asset management subsidiary of Japan’sPacific Holdings Group. The firm will now trade as Cushman & Wakefield Asset Management KK. PIC manages around $2bn of assets totalling 4.73m sq ft.
Finch to take CABE chair
Paul Finch has been appointed the new chair of architecture watchdog CABE. Finch, who has chaired CABE’s 2012 Olympic Games design review panel since 2006, will take over the £42,000 pa post from outgoing chair Sir John Sorrell on 14 December. The appointment is for four years.
Lloyds to rethink C&G branch closures
Lloyds Banking Group is to review its decision to close its Cheltenham & Gloucester subsidiary. Earlier this year, Lloyds said that all 164 C&G branches would close in November. Jones Lang LaSalle had been appointed to advise on disposal of the properties.
