Wales
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Lisburne Holdings sell Cardiff office for £2.5m
Lisburne Holdings has sold Archway House, at Llanishen, Cardiff, to clients of Norwich Union for £2.5m, reflecting a net initial yield of 7.97 %.
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Heron among front-runners for Welcome Break
Gerald Ronson’s Heron International is one of the leading contenders to buy Granada’s motorway-service chain, Welcome Break. Other contenders include Shell, in partnership with McDonald’s and Whitbread.
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Hinchliffe fights KPMG in bid to stop sale of £200,000 building in Newport, Gwent
Stephen Hinchliffe is battling to stop KPMG, the receiver of his Facia retailing empire, from selling a £200,000 building in Newport, Gwent, which houses a branch of Salisbury.
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Lower property receipts means £7m drop in WDA budget
The Welsh Development Agency’s budget will fall by £7m to £150m next year because of lower receipts from property sales. However, the Welsh Office is increasing its grant by £20m…
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Shaftesbury announces £36.5m rights issue
Shaftesbury is raising £36.5m by a three for eight rights issue to help pay for the Carnaby Street Estate, W1, which it is buying from Wereldhave for £90m.
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Bertand Faure to open £12m plant at Tredegar, south Wales
Bertrand Faure Seating is to open a £12m plant on an industrial estate, in Tredegar, south Wales, to make frames for car seats.
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Allders’ looking for opportunities to expand
Retail group Allders announced a jump in pre-tax profits. Chief executive Harvey Lipsith said the group will spend £30 million in the next two years on store refurbishment, including the…
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Exclusive Shrewsbury retail park sold at 4.5% yield
Wellcome Trust is tipped to have paid £23m for Meole Brace park in Shrewsbury, Shropshire. The deal reflects a 4.5% yield, one of the hottest ever paid for a retail…
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Greenalls disposes of non-core US business to invest in UK
UK brewing group Greenalls is planning to refurbish a listed theatre in the centre of Cardiff as a themed bar featuring a bank of video screens.
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Sony believed to be on verge of South Wales inward investment deal
Sony is believed to be finalising a major inward investment agreement in South Wales. It refused to comment on the anticipated expansion of its Welsh operations.
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Japanese firm invests £11m in Newport for mobile ‘phone plant
Kyushu Matsuhita Electric of Japan is investing £11m in a plant, at Newport in South Wales to make a new line of digitally enhanced mobile telephones.
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Cofton prepares site north of Cardiff for £20m residential scheme
Cofton Land and Property is planning to plough around £1.5m into a 15.37ha (38 acre) site to the north of Cardiff before selling it on to house builders.