PCL pair leave Knight Frank
Richard Cutt and Tim Wright, the partners responsible for Knight Frank’s prime central London agency, are to leave the company. The pair set up the ultra-prime sales side of the business in 2013.
Sutton Council in Oxfam buy
Oxfam’s HQ has been bought by Sutton Council for £29.9m. The purchase reflects a 5.28% net initial yield. Sutton Council bought the 87,000 sq ft grade-A building from Aviva Investors. It is let to Oxfam for another 8.5 years with a passing rent of £1.69m a year, at £19.75 per sq ft. Sutton was represented by Cushman & Wakefield. Aviva was represented by Strutt & Parker.
HS2 depot site sold for £24.5m
St Modwen has sold its 50-acre Heartlands Park site for the proposed HS2 Rolling Stock Maintenance Depot for £24.5m. St Modwen acquired the site in 2002 as part of the Alstom sale and leaseback transaction, where 19 properties were acquired across 500 acres of land. When Alstom surrendered its lease in 2012, St Modwen continued to lease the estate to a range of tenants including BEKO and Network Rail.
Stratford leisure agents named
Lendlease has appointed CF Commercial and Nash Bond as joint agents for the retail and restaurant scheme at the £2.4bn International Quarter, E15.
Govt planning paper delayed
A housing white paper that will set out “radical plans to boost housing supply” has been delayed until January. It is expected to include a range of long-awaited planning policy, including changes to the Community Infrastructure Levy and starter homes regulations.
Correction
Plans submitted by Prospect Capital and Wilcocks & Wilcocks for a 27-storey residential tower in Liverpool are not for the PRS, as reported last week.
