British Land confirms Aramco letting in the West End as further evidence of West End office recovery towards 2007 peak
British Land's annoucement today that it has let a further one and a half floors of it's West End office development at 10 Portman Square to the UK affiliate of Aramco, the Saudi oil company, at a headline rent of £92psf on a 15 year lease with no breaks, just a week after Aspect Capital took two f...
Posted: 30/11/2012
Banks planning to cut space requirements in high cost locations like the City of London
Banks throughout Europe are looking to reduce their cost base and their real estate is key to that. In London, the market is heading for a "significant contraction" in banking space, according to a report this year by Cushman and Wakefield, which said capital ratio requirements set out in ...
Posted: 29/08/2012
Persimmon continues to generate cash with H1 pre-tax profits up 65%
Persimmon, the York-based national housebuilder which also trades as Charles Church and Westbury Partnership, today reported a strong H1 performance with pre-tax profits up 65% to £98.3 million from sales up 6% to 4712 new homes worth some £806 million. Persimmon average selling prices ar...
Posted: 21/08/2012
Savills surprise with solid H1 results unchanged from last year despite less active markets.
Global property consultancy Savills Plc today reported solid H1 results from the UK to June 30th unchanged from the previous year despite a weakened transactional volume as income from Consultancy and Facilities Management grew strongly. Fee income from commercial property grew 7% to £21 milli...
Posted: 09/08/2012
Land Securities making some progress on lettings as major developments approach completion
In its Q1 trading statement today, ahead of its AGM, Land Securities, the UK's number one commercial property developer, is making some progress on letting its development pipeline. City of LondonIt has now let 94% of its City office scheme, One New Change (EC4), but has only just got off the mark at...
Posted: 17/07/2012