Temple Quay plot sold
Castlemore Securities has sold plot 4C of its £300m Temple Quay development in Bristol to a limited partnership set up by Matrix Securities. It has paid £36.1m for the 13,145m2 (141,500 sq ft) office building. It is prelet to the DETR. Insignia Richard Ellis acted for Matrix. Alder King represented Castlemore.
Plumb deal for Kingspark shed
Plumbing specialist Plumb Centre is set to take Amazon.com’s former 21,367m2 (230,000 sq ft) distribution shed at Kingspark ProLogis’s Marston Gate in Milton Keynes. Rental rates are around £53.82 per m2 (£5 per sq ft). GVA Grimley is acting for ProLogis and Plumb.
Scots power into Milton Keynes
Scottish Power Retail is planning an 11,148m2 (120,000 sq ft) distribution centre in Snelshell, Milton Keynes, as it extends its interests further south.
More Europeans check in
European hotel room yields increased in 2000. Brussels room yields rose by 19% (6.6% last year), according to Jones Lang LaSalle. Prague’s room yields have risen by 21% in the past seven months and Paris by 3.8% to 76.9% in the first half.
EC3 offices get wired
Telecoms company Centric Telecom is to connect St Clares House, The Minories, EC3, to broadband technology. Hemingway Properties’ 7,435m2 (80,000 sq ft) of offices is occupied by 23 tenants.
PrimePitch scores RREEF deal
PrimePitch.com has completed its second-biggest deal, with its sale of 33 Beauchamp Place, SW3. The investment was sold on behalf of one of RREEF’s in-house funds for £920,000, at a net initial yield of 6.58%. The buyer was an Irish private investor. Churston Heard acted for RREEF.
Wilson Bowden buys Notts park
Wilson Bowden Developments has bought the 48.5ha (120-acre) Nottingham Business Park from Loughborough-based William Davis Properties for an undisclosed sum. The scheme has outline consent for 86,397m2 (930,000 sq ft) of office space.
Simons’ edifice built on effluence
Developer Simons Estates has submitted outline planning for a £60m, 52,024m2 (560,000 sq ft) office project on Fairbridge Road in Burgess Hill, Sussex. Covering 12ha (30 acres), it lies on a former sewage treatment works. Letting agents are Holley Blake, Stiles Harold Williams and Vail Williams.
Morley scores in Edinburgh
Morley Fund Management has bought an office building at Edinburgh Park for £13.9m, reflecting a net initial yield of 5.7%. The 3,835m2 (41,277 sq ft) property, 1 and 2 Lochside Way, is let to Telewest and HSBC Global. GVA Grimley and Jones Lang LaSalle acted for New Edinburgh. FPDSavills represented Morley.
Edinburgh goes chic with H&M
Fashion retailer H&M is making its debut in Edinburgh, taking 1,858m2 (20,000 sq ft) at Pillar Property’s Fort Kinnaird retail park. H&M was represented by Eric Young & Co. Harvey Spack Field and Morgan Williams acted for Pillar.
Golfrate buys LandSec investment
Land Securities has sold a retail investment at 33-57 New Broadway, Ealing, W5, to Golfrate Properties for £7.2m, reflecting a 7.5% net initial yield. The 3,458m2 (37,220 sq ft) property produces £570,000 pa. LandSec was represented by Insignia Richard Ellis.
RREEF makes up in South Wales
RREEF Real Estate Investment Managers has bought L’Oreal’s distribution facility at Llantrisant, South Wales, for £8.25m, at a net initial yield of 7.75%. The 18,850m2 (202,906 sq ft) property is let to L’Oreal. The vendor, South Wales-based developer Macob Projects, was represented by Emanuel Jones.
Countryside sells Chelmsford asset
Countryside Properties has sold its French’s Walk development in Chelmsford to Celexa for £4.1m at a yield of 6.8%. The 1,731m2 (18,640 sq ft) restaurant scheme has been let in two units to Bass Taverns and Fuller Smith & Turner. Blair Kirkman and Jackson Criss acted for Countryside. Holley Blake advised Celexa.
Taylor Woodrow takes high road
Taylor Woodrow Property is seeking consent for 92,900m2 (1m sq ft) of schemes in West Scotland, to include a 30,600m2 (330,000 sq ft) business park at Phillipshill and a 30,843m2 (330,000 sq ft) industrial/office scheme at East Kilbride.
Regent succeeds at retail park
Regent Retail Parks Partnership, managed by Aberdeen Property Investors, has bought St John’s Retail Park, Wolverhampton, from NPI for £25m at an initial yield of 6.5%. API was advised by Hamptons International Commercial & Harvey Spack Field.
