Daily news from Property Week

Chester Properties under offer to buy Aviva’s Project Ed portfolio

Fri, 17 Jul 2009 17:07:00 GMT

London-based Chester Properties is thought to be under offer to buy Aviva Investors’ Project Ed portfolio.

Petchey calls time on leisure empire

Thu, 16 Jul 2009 23:00:00 GMT

‘Father of the timeshare’ to sell Petchey Leisure for £80m to raise cash for property opportunities

Yields harden for the first time since the start of 2007

Fri, 17 Jul 2009 14:54:00 GMT

Average prime yields are hardening for the first time since the start of 2007, research from CB Richard Ellis has said.

Arab Investments in exclusive talks to buy Coffee Republic

Fri, 17 Jul 2009 14:53:00 GMT

Arab Investments is in exclusive talks to buy Coffee Republic out of administration.

Administrator sells Allied Carpets stores to new business

Fri, 17 Jul 2009 13:21:00 GMT

BDO Stoy Hayward was today appointed administrator of Allied Carpets Properties, and started by selling 51 stores to a new Allied Carpets business.

Max enters exclusive talks for Industrious

Fri, 17 Jul 2009 08:17:00 GMT

Nick Leslau and Mike Brown’s AIM-listed Max Property Group has entered into exclusive negotiations to buy the remaining 79 assets in the Industrious portfolio, as tipped...

Sarasin pioneers first green share fund

Thu, 16 Jul 2009 23:00:00 GMT

Fund manager launches vehicle to invest in sustainable property shares

Puma extends £332m loan

Thu, 16 Jul 2009 23:00:00 GMT

Puma Hotels, the owner of 20 four-star UK hotels, has refinanced its £332m of bank debt

Trikona Trinity non-exec trio exit

Thu, 16 Jul 2009 23:00:00 GMT

Three directors of AIM-listed Indian property fund Trikona Trinity Capital resigned this week in light of a new investment policy

Patriciu's Rutley takeover OKed

Thu, 16 Jul 2009 23:00:00 GMT

Dinu Patriciu, Romania’s richest man, will likely take over Rutley European, the listed property fund managed by Knight Frank’s private equity arm, Rutley Capital Partners

'Travelodge' of serviced offices comes up trumps

Thu, 16 Jul 2009 23:00:00 GMT

Budget operator Citibase produces best-ever results after postponing AIM listing

Lot sizes grow as 'big three' net £139m at auctions

Thu, 16 Jul 2009 23:00:00 GMT

Risk takers put yields under pressure at Allsop, Jones Lang LaSalle and Cushman & Wakefield sales

Bridgend blockbuster ends Welsh sheds drought

Thu, 16 Jul 2009 23:00:00 GMT

Kenmore completes largest Wales letting in two years

Full steam ahead for Cardiff station hotel

Thu, 16 Jul 2009 23:00:00 GMT

Cardiff Council has given the green light for one of the Welsh capital’s most prominent sites to be turned into a 216-bedroom hotel

ProLogis-managed fund to secure £100m

Thu, 16 Jul 2009 23:00:00 GMT

PEPR understood to be in talks with Eurohypo for debt facility

Redevco retail looks east

Thu, 16 Jul 2009 23:00:00 GMT

Dutch company Redevco has signed a ‘strategic partnership’ with Chinese developer Shui On Land to jointly develop a 100,000 sq m shopping centre in Wuhan City, China

Best Buy lease terms delay UK opening

Thu, 16 Jul 2009 23:00:00 GMT

Deal disintegrates as retailer seeks downwards-only rent review clause

Threadneedle and LaSalle make final Co-op bids

Thu, 16 Jul 2009 23:00:00 GMT

Threadneedle and LaSalle Investment Management are the final two bidders for a purchase and leaseback of 20 Co-operative Group stores

Southern launches resi fund

Thu, 16 Jul 2009 23:00:00 GMT

Southern Properties Group has launched a £100m unlisted fund to invest in the UK residential market

LDA budgets for Olympics

Thu, 16 Jul 2009 23:00:00 GMT

The London Development Agency’s chief financial officer has said it will meet the additional non-budgeted cost of assembling the Olympics site

Tritax-led syndicate to buy Brindleyplace trio

Thu, 16 Jul 2009 23:00:00 GMT

Private investor group places three offices under offer at Brum scheme

High Street Ken shops in business rate revolt

Thu, 16 Jul 2009 23:00:00 GMT

Up to 150 retailers to demand reductions because of Westfield London

Goodman Euro head is off to Oz

Thu, 16 Jul 2009 23:00:00 GMT

Michael O’Sullivan, CEO of Goodman’s European operation, will return to Australia at the end of the year

Rubinsohn: 10% still to go

Thu, 16 Jul 2009 23:00:00 GMT

RICS chief economist Simon Rubinsohn predicts a further 10% fall in property values in the second half of this year and further ‘more modest’ reductions in 2010

CBRE and JLL bank on US

Thu, 16 Jul 2009 23:00:00 GMT

Bank of America is understood to have appointed CB Richard Ellis and Jones Lang LaSalle to advise on its global property portfolio

PWTV: The King Sturge Property Triathlon

Fri, 17 Jul 2009 13:36:00 GMT

More than 2,000 people, including Formula 1 driver Jenson Button, took part in the gruelling King Sturge Property Triathlon, sponsored by Property Week, this month.

Government allocates £1.7bn for new homes

Fri, 17 Jul 2009 11:36:00 GMT

Housing Minister John Healey today announced £1.7bn funding to build 11,200 new homes and regenerate 10 of the most deprived areas of the country.

Residential development land values stabilise

Fri, 17 Jul 2009 11:24:00 GMT

The value of residential development land has stabilised across most UK regions after five negative quarters according to Knight Frank’s Residential Land Index.

UK pooled fund posts shallowest negative returns for 18 months

Fri, 17 Jul 2009 09:06:00 GMT

The performance of quarterly valued unlisted UK pooled funds has shown the shallowest negative returns for 18 months, according to Investment Property Databank (IPD).

Travelodge spends £70m for further expansion

Fri, 17 Jul 2009 06:00:00 GMT

Travelodge has stepped up its rapid expansion plans and has bought 12 sites across the UK for £70m to develop new hotels providing 1,118 new rooms.