Tribeca eyes Oxford Street sale
Tribeca Holdings has appointed Rothschild to sell or refinance a £300m mixed-use block on Oxford Street. The firm, which is backed by Irish investor Aidan Brooks, bought 431-451 Oxford Street, W1, in 2014. It has since signed several new retail tenants, including Omega, Watches of Switzerland and Ecco. The 54,000 sq ft multi-let block includes shops, offices and flats on a 0.38 acre site.
Allied gets Spinningfields debt
Lloyds Bank, Pramerica’s Real Estate Capital IV debt fund and the North West Evergreen Fund have agreed to provide £120m of debt to finance the construction of Allied London’s 1 Spinningfields in Manchester. Lloyds is providing the senior loan of nearly £100m. The 343,000 sq ft scheme is less than 15% prelet, with 50,000 sq ft taken by PwC. It is the largest loan for a Manchester development since 2007.
Facebook likes Regent’s Place
Facebook has signed for an additional 65,000 sq ft at British Land’s Regent’s Place campus in Euston, NW1. The deal, for the top seven floors of 338 Euston Road, will take the social media giant’s occupation at Regent’s Place to 152,000 sq ft. It agreed to lease 87,000 sq ft at the neighbouring 10 Brock Street, NW1, in late 2013.
Grainger chief to step down
Grainger chief executive Andrew Cunningham is to retire at the company’s next annual general meeting in February 2016. Cunningham will have been with Grainger for nearly 20 years and served as chief executive for seven.
Rob Noel gets real on EG Radio
EG Radio’s Real Talk with James Max this month features Land Securities boss Rob Noel on development, the election and the moment he heard people were frying eggs in the glare from City skyscraper The Walkie Talkie. Listen free at www.estatesgazette.com/category/eg-radio
jack.sidders@estatesgazette.com
