Sheffield Retail Quarter plans in
Sheffield council has submitted plans for the £480m Sheffield Retail Quarter. The 900,000 sq ft proposal was drawn up in January after Hammerson pulled out of the £500m Sevenstone project in 2013. A new development partner is now being sought. The first phase is scheduled to be delivered in 2019.
London keeps property crown
London has retained its position as the most active real estate market in the world, with $39bn (£24.9bn) transacted over the 12 months to the end of Q2 2015, according to DTZ. Manhattan saw $28bn of deals, compared with San Francisco’s $21bn and Tokyo’s $18bn. Global investment rose by 15% year-on-year to $318bn.
Yang joins Cornerstone
Cornerstone Real Estate Advisers has hired JP Morgan’s Albert Yang as managing director and head of business development in Europe. Yang will be based in the London office and starts in September. He previously spent four years at JP Morgan Asset Management as an executive director of global real estate assets.
BNP PRE gets power mandate
National Grid has appointed BNP Paribas Real Estate to provide property management, real estate and facilities management for its commercial portfolio. BNP PRE will start transitioning work from existing provider Capita in September and provide full services from 1 April 2016. The three-year contract includes a two-year extension option.
Kitchen poaches JLL’s Dales
Kitchen La Frenais Morgan has poached JLL director Rob Dales. He joins the retail agent as an equity partner and will handle shopping centre and high street investment sales and disposals. Dales was previously a regional director in JLL’s shopping centre investment team.
