Spec sheds boom
UK speculative industrial development is forecast to skyrocket in 2018 with 7.3m sq ft due to be delivered in units of more than 50,000 sq ft, compared with just 5.9m sq ft in 2017. The LSH data suggests spec development has shifted toward the smaller end of the market.
Aprirose in sell-off
Aprirose has appointed Knight Frank to sell a £75m mixed UK commercial portfolio. The nine assets offer 308,816 sq ft of alternative, industrial, office, health and retail space. The proposed price reflects a yield of 6.67%.
Keenan joins KF
Pat Keenan has been appointed head of retail agency at Knight Frank. Keenan joins Knight Frank after running specialist retail consultancy K2 Retail. He will work closely with Charlie Barke and the capital markets team.
Travis Perkins sale
Avignon Capital, Riverside Capital and Colliers Capital have instructed JLL to sell a portfolio of 33 sites let to Travis Perkins for £44m – a 5.5% yield. The total lettable floor area is 435,000 sq ft on 41 acres, with an unexpired lease term of 14 years and a total passing rent of just over £2.5m pa.
JLL appoints pair
JLL has made two appointments to its global funds advisory team. Georg Frauboes joins from UBS Asset Management as a director in London, while Eugene Kim joins from Brookfield Asset Management as a director in Singapore.
