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Williams joins Nelson Bakewell Nelson Bakewell has poached Knight Frank City office partner Tim Williams. Williams, who was at Knight Frank for 11 years, will be joining the NB’s city office as a director working on office agency, allowing fellow director Kevin Chapman to concentrate on investment. Bids roll in for Edinburgh centre Half a dozen bids were lodged by last Wednesday’s deadline for Marks & Spencer’s £200m Gyle shopping centre in Edinburgh. Bidders included USS, advised by Jones Lang LaSalle; a limited partnership led by Barclay Property Investment, including Morley Properties and NPI and advised by DTZ; US company Trizec Hahn, which wants to build up a UK portfolio; and Pillar. Marks & Spencer is advised by CB Hillier Parker. BA bags another Jumbo British Airways has taken the whole of the 14,977m2 (161,220 sq ft) unit – dubbed “Jumbo”- on Phase 1 of ProLogis Park in Heathrow on a 20-year lease with breaks at years 10 and 15, at a rent of £121 per m2 (£11.25 per sq ft). Acting for ProLogis were Holley Blake, Healey & Baker and King Sturge. Rogers Chapman advised BA. Phase I has been sold straight into the Û2bn European fund set up by ProLogis last year. Bechtel looks for spaces west Engineering giant Bechtel is seeking 11,612m2 (125,000 sq ft) of office space in the Hammersmith area or further west. Jones Lang LaSalle is heading the search. Other agents that pitched for the deal are thought to include Healey & Baker, DTZ Debenham Tie Leung and Lambert Smith Hampton. Sonera pockets more No 8 Finnish telecoms company Sonera has doubled its occupancy at No 8, The Square, Stockley Park. The firm will now pay an average rent of £1.6m pa on a phased basis (£1.9m pa by year three). Sonera has agreed terms on a three-year lease with annual breaks. Catella is advising Sonera. Hereward Cross shops in Frame Frame Investments has bought the Hereward Cross Shopping Centre in Peterborough for £9.4m. The 7,432m2 (80,000 sq ft) site was purchased in a joint venture with American fund Apollo and Portfolio Holdings. Morgan Williams represented Frame and Smith Melzack acted for the vendor. Focus, p94 Excalibar takes a swipe at Slough Software company Excalibar is tipped to have taken a 3,252m2 (35,000 sq ft) letting at Wexham Springs in Slough, currently occupied by Equant Network Services. Stiles Harold Williams is acting for Excalibar, while Lambert Smith Hampton is advising Equant. CGU joins the e-goldrush CGU has unveiled plans for the development of an “extensive” property database for home movers. The database will be launched within the next few months through UK Property Gold. Contract traditions still favoured Developers and builders are sticking to traditional forms of contract, according to a new RICS report. The new ICE engineering and contraction contract has been ignored in favour of the standard JCT form. JCT80 use remained high, and the use of JCT81 forms with Contractors Design doubled to 18.1% of all building contracts. Frogmore prelet leapt on Software company Business Objects UK is tipped to take a 4,645m2 (50,000 sq ft) prelet at Frogmore’s Vanwall Business Park in Maidenhead. Adams Burnett is advising Business Objects; Lambert Smith Hampton is marketing the park. Venture into Windsor park Redrow Commercial and Norwich Union Investment Management have announced a jv to develop the £60m Windsor Office Park which comprises 10,800m2 (116,254 sq ft) of office space. John Laing Property will carry out the development. 1999 marks Scottish upturn The total return for all property in 1999 was 13.1%, according to Richard Ellis St Quintin’s Scottish Monthly Index. This showed an improvement on 1998’s 10.9%, while offices outperformed other sectors. Record demand in Edinburgh Braemore Property Management predicts a huge demand for Edinburgh space after a record start to 2000, with three times January 1999’s figure let this year. Attracted to Compass Point EMC Software is looking for 7,432m2 (80,000 sq ft) in the south-west quadrant of the M25. The former BAT building at Compass Point is among the sites under consideration. Knight Frank is acting for EMC. Times Square campaign launched QVS Developments has launched a US marketing campaign for its 31,586m2 (340,000 sq ft) Times Square office scheme on Queen Victoria Street, EC4. It will be marketed by Insignia/ESG, with Jones Lang LaSalle and DTZ Debenham Tie Leung acting as joint letting agents. |
Williams joins Nelson Bakewell
Nelson Bakewell has poached Knight Frank City office partner Tim Williams. Williams, who was at Knight Frank for 11 years, will be joining the NB’s city office as a director working on office agency, allowing fellow director Kevin Chapman to concentrate on investment.
Bids roll in for Edinburgh centre
Half a dozen bids were lodged by last Wednesday’s deadline for Marks & Spencer’s £200m Gyle shopping centre in Edinburgh. Bidders included USS, advised by Jones Lang LaSalle; a limited partnership led by Barclay Property Investment, including Morley Properties and NPI and advised by DTZ; US company Trizec Hahn, which wants to build up a UK portfolio; and Pillar. Marks & Spencer is advised by CB Hillier Parker.
BA bags another Jumbo
British Airways has taken the whole of the 14,977m2 (161,220 sq ft) unit – dubbed “Jumbo”- on Phase 1 of ProLogis Park in Heathrow on a 20-year lease with breaks at years 10 and 15, at a rent of £121 per m2 (£11.25 per sq ft). Acting for ProLogis were Holley Blake, Healey & Baker and King Sturge. Rogers Chapman advised BA. Phase I has been sold straight into the Û2bn European fund set up by ProLogis last year.
Bechtel looks for spaces west
Engineering giant Bechtel is seeking 11,612m2 (125,000 sq ft) of office space in the Hammersmith area or further west. Jones Lang LaSalle is heading the search. Other agents that pitched for the deal are thought to include Healey & Baker, DTZ Debenham Tie Leung and Lambert Smith Hampton.
Sonera pockets more No 8
Finnish telecoms company Sonera has doubled its occupancy at No 8, The Square, Stockley Park. The firm will now pay an average rent of £1.6m pa on a phased basis (£1.9m pa by year three). Sonera has agreed terms on a three-year lease with annual breaks. Catella is advising Sonera.
Hereward Cross shops in Frame
Frame Investments has bought the Hereward Cross Shopping Centre in Peterborough for £9.4m. The 7,432m2 (80,000 sq ft) site was purchased in a joint venture with American fund Apollo and Portfolio Holdings. Morgan Williams represented Frame and Smith Melzack acted for the vendor. Focus, p94
Excalibar takes a swipe at Slough
Software company Excalibar is tipped to have taken a 3,252m2 (35,000 sq ft) letting at Wexham Springs in Slough, currently occupied by Equant Network Services. Stiles Harold Williams is acting for Excalibar, while Lambert Smith Hampton is advising Equant.
CGU joins the e-goldrush
CGU has unveiled plans for the development of an “extensive” property database for home movers. The database will be launched within the next few months through UK Property Gold.
Contract traditions still favoured
Developers and builders are sticking to traditional forms of contract, according to a new RICS report. The new ICE engineering and contraction contract has been ignored in favour of the standard JCT form. JCT80 use remained high, and the use of JCT81 forms with Contractors Design doubled to 18.1% of all building contracts.
Frogmore prelet leapt on
Software company Business Objects UK is tipped to take a 4,645m2 (50,000 sq ft) prelet at Frogmore’s Vanwall Business Park in Maidenhead. Adams Burnett is advising Business Objects; Lambert Smith Hampton is marketing the park.
Venture into Windsor park Redrow Commercial and Norwich Union Investment Management have announced a jv to develop the £60m Windsor Office Park which comprises 10,800m2 (116,254 sq ft) of office space. John Laing Property will carry out the development.
1999 marks Scottish upturn
The total return for all property in 1999 was 13.1%, according to Richard Ellis St Quintin’s Scottish Monthly Index. This showed an improvement on 1998’s 10.9%, while offices outperformed other sectors.
Record demand in Edinburgh
Braemore Property Management predicts a huge demand for Edinburgh space after a record start to 2000, with three times January 1999’s figure let this year.
Attracted to Compass Point
EMC Software is looking for 7,432m2 (80,000 sq ft) in the south-west quadrant of the M25. The former BAT building at Compass Point is among the sites under consideration. Knight Frank is acting for EMC.
Times Square campaign launched
QVS Developments has launched a US marketing campaign for its 31,586m2 (340,000 sq ft) Times Square office scheme on Queen Victoria Street, EC4. It will be marketed by Insignia/ESG, with Jones Lang LaSalle and DTZ Debenham Tie Leung acting as joint letting agents.
