ITV’s studio revamp
ITV has submitted plans to redevelop its London Television Studios site on the South Bank, SE1. The 25-storey landmark will be demolished to make way for a 38-storey residential tower providing up to 270 homes, with lower-rise podiums housing studios, offices and hospitality space. Cundall Johnston & Partners is advising ITV.
PRS drops fees
Delancey, APG and Qatari Diar’s Get Living PRS company is to drop security deposits for tenants and refund outstanding deposits to alleviate the cost of living on residents. Tenants will have to pass referencing or have a guarantor. Deposits of 3,000 existing residents, totalling around £3m, will be returned. In addition to the company’s 1,439-flat East Village scheme at the former 2012 Athletes’ Village, E20, Get Living has a further 4,000 flats in its pipeline across the UK.
Exchange 1 sold
Aberdeen Asset Management’s Exchange Place 1 has been bought by GLL Real Estate Partners’ Pan European Property Fund for £47m – a 5.57% yield. The sale price agreed for the 125,000 sq ft building makes it the largest investment transaction in Scotland so far this year. Aberdeen sold neighbouring Exchange Place 2 and 3 earlier this year for £36m. JLL and Cushman & Wakefield acted for Aberdeen.
Unite backs Brum
Unite Students has exchanged on the purchase of a 222-bed development in Durham and a 418-bed scheme in Selly Oak, Birmingham on behalf of its Unite Students Accommodation Fund. The combined cost of the developments is £56m. The acquisitions are expected to generate a yield of 6.3% in their first full year of operation. The fund has also sold a 128-bed studio scheme in central London for £42m, with Unite’s share at £9.7m.
ITV’s studio revamp
ITV has submitted plans to redevelop its London Television Studios site on the South Bank, SE1. The 25-storey landmark will be demolished to make way for a 38-storey residential tower providing up to 270 homes, with lower-rise podiums housing studios, offices and hospitality space. Cundall Johnston & Partners is advising ITV.
PRS drops fees
Delancey, APG and Qatari Diar’s Get Living PRS company is to drop security deposits for tenants and refund outstanding deposits to alleviate the cost of living on residents. Tenants will have to pass referencing or have a guarantor. Deposits of 3,000 existing residents, totalling around £3m, will be returned. In addition to the company’s 1,439-flat East Village scheme at the former 2012 Athletes’ Village, E20, Get Living has a further 4,000 flats in its pipeline across the UK.
Exchange 1 sold
Aberdeen Asset Management’s Exchange Place 1 has been bought by GLL Real Estate Partners’ Pan European Property Fund for £47m – a 5.57% yield. The sale price agreed for the 125,000 sq ft building makes it the largest investment transaction in Scotland so far this year. Aberdeen sold neighbouring Exchange Place 2 and 3 earlier this year for £36m. JLL and Cushman & Wakefield acted for Aberdeen.
Unite backs Brum
Unite Students has exchanged on the purchase of a 222-bed development in Durham and a 418-bed scheme in Selly Oak, Birmingham on behalf of its Unite Students Accommodation Fund. The combined cost of the developments is £56m. The acquisitions are expected to generate a yield of 6.3% in their first full year of operation. The fund has also sold a 128-bed studio scheme in central London for £42m, with Unite’s share at £9.7m.
