Newcomers eye UK retail
UK supermarket property is attracting a new generation of investors in the form of private equity and overseas buyers, according to MSCI and Colliers International. Their research found the new investor base mirrored the trend towards smaller, grocery-focused stores, higher-end offers and discount operators.
BL plans EC2 office tower
British Land has submitted plans for a 32-storey tower at 2-3 Finsbury Avenue Square, EC2. Designed by Arup Associates, the tower comprises 550,000 sq ft of offices across four connected areas. The existing UBS headquarters will be demolished after the bank moves to British Land’s 5 Broadgate, EC2.
Tata partners in Leamington
Tata Technologies has struck a forward-funding deal with Universities Superannuation Scheme for its new European headquarters at Tachbrook Park in Leamington Spa, Warwickshire. The duo have exchanged contracts at a price around £19.3m – a circa 6% yield. Tata will relocate from Coventry University Technology Park. GBR Phoenix Board acted for USS; Franck-Steier Price represented Tata.
Aberdeen picks resi partner
Aberdeen Council has selected Places for People as the preferred bidder for a £300m partnership that aims to deliver up to 3,000 homes in the city. Places for People will develop council-owned sites for a 50% share in development profits after payment of the land value.
AFC Wimbledon plans delayed
The GLA has called in plans for AFC Wimbledon’s new stadium at Plough Lane, SW19. The club wants to redevelop its greyhound stadium site as a new ground and 600-home scheme, but the GLA will now take control of the decision, which will be made later this year.
