Property Week articles from March 2007

Property Week archives from March 2007

500m [pounds sterling] Tchenguiz resi takeover: entrepreneur to dominate retirement home world by buying US-owned Peverel.
March 30, 2007... PROPERTY ENTREPRENEUR VINCENT TCHENGUIZ is to pay 500m [pounds sterling] for an US-owned conglomerate in the private housing and retirement homes sector. Property Week understands that his Consensus Group is on the verge of buying Peverel,...

Sir Terry Leahy took over as Tesco chief executive 10 years ago with a plan to turn the supermarket group into the country's market leader.
March 30, 2007... [ILLUSTRATION OMITTED] Caption: Sir Terry Leahy took over as Tesco chief executive 10 years ago with a plan to turn the supermarket group into the country's market leader. Today, he talks exclusively to Property Week about how real estate...

Westfield gets second chance at Sprucefield: John Lewis on its way to Ulster after green light.(News)(Westfield America Inc.)
March 30, 2007... WESTFIELD HAS BEEN GRANTED planning permission a second time round for a controversial extension at its Sprucefield shopping centre in Northern Ireland. The decision by Northern Ireland minister David Cairns this week will pave the way for...

Kitching and Dove are latest directors to leave Erinaceous.(News)(Simon Kitching, Peter Dove)(Brief article)
March 30, 2007... TWO SENIOR EXECUTIVES HAVE LEFT AIM-listed property services company Erinaceous. Directors Simon Kitching and Peter Dove, who joined the firm as part of the management board following its takeover of Millar Kitching, handed in their notice...

Macquarie books record Wales letting from Amazon.(News)(Macquarie Goodman Industrial)(Brief article)
March 30, 2007... MACQUARIE GOODMAN IS TO secure Wales' largest-ever letting after agreeing to bring online retailer Amazon to the country. Amazon has agreed an 807,300 sq ft (75,000 sq m) prelet at a Welsh Assembly Government site in Swansea which Macquarie...

Crown to move on Metropole.
March 30, 2007... The Crown Estate is marketing the Metropole near Trafalgar Square. It is understood the 400,000 sq ft (37,160 sq m) building is attracting interest from hotel and residential developers. A scheme by architect Eric Parry was rejected last year...

CapCo bags Covent Garden shops.
March 30, 2007... Capital & Counties, which bought London's Covent Garden market in August, has bought the shops underneath the opera house for 127.5m [pounds sterling]. As tipped by Property Week(news, 27.10.06) CapCo began talks last autumn with the block's...

Pinder buys Becket House.
March 30, 2007... Pinder Fry & Benjamin has brought Becket House at 1 Lambeth Palace Road in London to the market for 93m [pounds sterling] through King Sturge. The 146,000 sq ft (13,563 sq m) property is let to Ernst & Young for another 20 years at 35 [pounds...

North Tyneside Council is to take 100,000 sq ft (9,290 sq m) of offices at Highbridge's Cobalt 16 at the junction of the A1(M) and the A69 in Newcastle.
March 30, 2007... [ILLUSTRATION OMITTED] Caption: North Tyneside Council is to take 100,000 sq ft (9,290 sq m) of offices at Highbridge's Cobalt 16 at the junction of the A1(M) and the A69 in Newcastle. The council will move this October. GVA Grimley and...

De Haan steps down from Multi.
March 30, 2007... Arnold De Haan is stepping down as chief executive officer of Multi Corporation two years after quitting as head of German open-ended fund manager CGI.

Croydon Council sets up URC.
March 30, 2007... Croydon Council is to search for a private sector partner to develop several key town centre schemes. It has set up an urban regeneration company to focus on regenerating its portfolio.

Amec chosen for Doncaster site.
March 30, 2007... Amec Developments has been selected by Doncaster Metropolitan Borough Council as preferred developer for the town's Waterdale development. The 60 acre (24.2 ha) site will house civic facilities, a cinema, bars and restaurants, offices and...

First phase at thecentre:mk.
March 30, 2007... Hermes Real Estate and Prupim have today submitted the first applications for the first phase of shopping centre thecentre:mk in Hilton Keynes.

Arlington recruits RICS's Khatri.
March 30, 2007... Arlington Securities has recruited Milan Khatri to the newly created role of chief economist. He joins from the RICS, where he worked for nine years as chief economist.

Mountgrange's Caltongate plans.
March 30, 2007... Mountgrange Capital will today submit detailed planning applications for the final five sections of its Caltongate scheme in Edinburgh. These will feature residential, hotel, office, retail, food and drink, and leisure facilities.

London's luxury development frenzy: Chelsfield Partners linked with Earl's Court purchase.(News)
March 30, 2007... LONDON'S UPMARKET RESIDENTIAL sector was on fire this week, with deals being struck that will result in hundreds of millions of pounds of development. At the heart of the activity was entrepreneur Anthony Lyons, who is in a consortium that...

Whitbread ponders gym chain sale.(News)
March 30, 2007... WHITBREAD HAS confirmed that it is in early talks about a sale of its David Lloyd chain of health clubs. The group said it was considering several unsolicited approaches to buy the 1bn [pounds sterling] gym chain, which has forced a public...

Minister for housing and planning Yvette Cooper launched a new commercial lease code at the SW1 Gallery in London's Victoria this week.(News)
March 30, 2007... [ILLUSTRATION OMITTED] Caption: Minister for housing and planning Yvette Cooper launched a new commercial lease code at the SW1 Gallery in London's Victoria this week. She said the government is willing to impose legislation if upward-only...

Prupim set to buy 180m [pounds sterling] City office at rock bottom yield: fund manager lines up Evans Randall's ABN Amro headquarters as Citypoint sale nears conclusion.(News)
March 30, 2007... ABN AMRO'S LONDON HEADQUARTERS is to be bought by fund manager Prupim in a deal that will reflect one of the lowest ever yields in the City of London. In an off-market deal that is expected to complete next week, the fund manager has paid...

Heritage body to protect views of Tower.(News)
March 30, 2007... HISTORIC ROYAL PALACES IS TO TRY TO curb development in the backdrop to the Tower of London. The heritage protection body has launched a draft management plan, which aims to create buffer zones to keep the world heritage site views free...

Ronson slams 'bull market' hedge funds.(News)
March 30, 2007... Gerald Ronson this week laid into hedge fund managers making a fortune out of property, saying he 'would not trust them to do his 'shopping at Tesco'. Ronson was addressing around 400 guests at Heron's annual lunch at London's Savoy Hotel....

Deutsche's City search.(News)
March 30, 2007... DEUTSCHE BANK HAS KICKED off a search for a new City of London office. It is the latest big bank to review its real estate because of expansion plans. The bank is searching for up to 250,000 sq ft (23,225 sq m) in the centre of the...

High Court challenge to Lime St.
March 30, 2007... The 35m [pounds sterling] redevelopment of Liverpool's Lime Street station site has been challenged in the High Court. Local shopkeepers are among those opposing English Partnerships' compulsory purchase of their shops to allow a 27-storey...

Liverpool quango members.
March 30, 2007... The team that will oversee the merger of Liverpool's three main regeneration quangos will be led by Liverpool Vision chairman Sir Joe Dwyer and advised by chief executive Jim Gill. Mike Taylor, chief executive of Business Liverpool and David...

Crown Estate's Windsor hotel buy.
March 30, 2007... The Crown Estate has bought the 79-bedroom Ye Harte and Garter Hotel in Windsor for 26m [pounds sterling] from a joint venture company controlled by Emma and Lewis Davis's Central Investment Properties. CIP is refurbishing the hotel. Wagamama...

Schurder is association head.
March 30, 2007... Gerald Eve's head of rating, Jerry Schurder, has taken over as president of the Rating Surveyors' Association from King Sturge's Graham Beaumont. Tom Dixon, Sanderson Weatherall's director of rating services will take over from Schurder as...

Cube squares up in Maidenhead.(Cube Real Estate)(Brief article)
March 30, 2007... Cube Real Estate has secured planning consent for a residential, hotel and office scheme at Tubs Hill House in Sevenoaks, Kent. Two plans have been approved for the north tower: one with a 60-bedroom hotel and residential, and another with...

Pembroke wins Park Lane nod.(Pembroke Real Estate)
March 30, 2007... Pembroke Real Estate has won planning consent to redevelop 49 Park Lane in London's Mayfair, which it bought in 2005. Pembroke plans 28,000 sq ft (2,601 sq m) of offices and four homes, which will be completed in autumn 2008. CB Richard Ellis...

Rosemound is to develop the UK's first plastic recycling.(News)
March 30, 2007... [ILLUSTRATION OMITTED] Caption: Rosemound is to develop the UK's first plastic recycling plant on 2.56 acre (1.03 ha) site at Dagenham Dock, east London, for the London Development Agency.

Budget to bring shed wrecks and less specs: Coull and Wheeler among critics of rates move.(News)
March 30, 2007... THE REMOVAL OF BUSINESS RATE RELIEF on empty industrial properties could lead to deliberate vandalism and less speculative development. This was the warning from developers after the measure was announced in the Budget last week. It brought...

MFI packs into Yorks.(News)
March 30, 2007... MFI IS TO SIGN ENGLAND'S biggest letting this year at HelioSlough's Nimbus Park near Doncaster. The 750,000 sq ft (74,998 sq m) speculatively developed warehouse was picked this week as the furniture retailer's preferred option to move its...

Rockpoint's Astral man.(News)(Rockpoint Group)(Brief article)
March 30, 2007... US OPPORTUNITY FUND manager Rockpoint is to back a new industrial development company led by former Astral director Jeremy Greenland. Greenland is to sign an agreement with Rockpoint to set up the company when he leaves Astral next month....

Soho hostel makes First Base.
March 30, 2007... First Base, the residential-led urban regeneration developer, has been appointed by English Partnerships as preferred developer for Trenchard House, a former hostel off Broadwick Street in Soho. It will work with English Partnerships and...

Nottingham arcade exchanged.(DTZ, CB Richard Ellis Inc.)(Brief article)
March 30, 2007... DTZ Investment Management, advised by DTZ, has sold the Exchange Arcade in Nottingham to CB Richard Ellis Investors for 23.65m [pounds sterling]. The scheme of 20 fully let shops and an office suite over 31,716 sq ft (2,947 sq m) generates 1.1m...

Satellite at Millennium Stadium.
March 30, 2007... Satellite Architects has obtained planning consent for the Holiday Inn Millennium Stadium in Cardiff on behalf of Realstar Group.

Highcross ByBox Coventry letting.(Brief article)
March 30, 2007... Highcross has let 95,361 sq ft (8,860 sq m) of distribution space to ByBox Field Support at Central City Industrial Estate in Coventry on a 10-year lease. By Box will vacate its 29,500 sq ft (2,740 sq m) unit, which will be let to NP Aerospace...

Satrion's Tesco shed stake.
March 30, 2007... Satrion Group has bought Tesco's 298,820 sq ft (27,761 sq m) regional distribution centre at Stakehill Industrial Estate, Middleton, Hanchester, from Prupim for 28m [pounds sterling]--a yield of 5.5%. BCH advised Starion; Savills advised...

Bell Hammer's Room 404 sale.
March 30, 2007... Joel Hawkins' Bell Hammer and Kenmore have sold the vacant 33,000 sq ft (3,065 sq m) Room 404 office in Maidenhead to ING Real Estate Management for its Lionbrook Fund for about 16m [pounds sterling]. CB Richard Ellis advised Bell Hammer and...

Hamleys in play in Belfast.
March 30, 2007... Multi Development has signed toy shop Hamleys at its 320m [pounds sterling] Victoria Square scheme in Belfast city centre. Hamleys will take 6,000 sq ft (557 sq m) of space as a concession in the House of Fraser ancho, store.

ProLogis falls at Newbury hurdle: Council rejection of warehouse scheme is latest hitch in two-year saga.(News)
March 30, 2007... PROLOGIS'S PLAN TO DEVELOP A LARGE distribution scheme near the historic Greenham Common in Newbury has been rejected. West Berkshire Council two weeks ago gave four reasons for rejecting a detailed planning application for the 666,517 sq...

Ark factors in asset managers.(News)
March 30, 2007... ASSET FACTOR AND NELSON BAKEWELL have been appointed to asset manage the Hammersmith Ark in a bid to make the building more attractive to potential occupiers. Owners GE Real Estate and O&H Properties have asked the pair to be the property...

Fryer Holt opens in Bracknell.(News)(Brief article)
March 30, 2007... FRYER HOLT PARTNER SIMON FRYER IS to open the firm's second Thames Valley office in Bracknell on 30 April. The office at Venture House, Arlington Square, will service the Bracknell and Wokingham markets. It is the company's first...

Morley has completed the funding of PMB Holdings' 60m [pounds sterling] Abbey Mill house in Reading.(News)
March 30, 2007... [ILLUSTRATION OMITTED] Caption: Morley has completed the funding of PMB Holdings' 60m [pounds sterling] Abbey Mill house in Reading. The 110,000 sq ft (1,021 sq m) office will be the tallest in the town. Cushman & Wakefield, Fryer Holt and...

Scots mall in race to sign up tenants: but developer says 70% of floorspace is almost signed.(News)
March 30, 2007... ALMOST HALF OF THE UNITS ATA 350M [pounds sterling] shopping centre near Glasgow are still to be let six months before the scheme is due to open. In a further symptom of the tough retail climate, Retail Property Holdings' 350m [pounds...

CBRE tells retailers to up their property game.(News)
March 30, 2007... CB RICHARD ELLIS, THE world's largest property services company, has called on retailers to take property more seriously. Speaking at the World Retail Summit in Barcelona this week, Malcolm Dalgleish, Europe, the Middle East and Africa...

Wilson Bowden to develop Leamington shopping centre.(News)(Brief article)
March 30, 2007... WILSON BOWDEN HAS WON ITS FIRST development pitch since its takeover by Bartatt last month. It has beaten Hilligan, Henry Boot and Simons Developments to develop a 50m [pounds sterling] shopping centre in Leamington Spa town centre. ...

Outback owners to raise steaks with investment bid.(News)
March 30, 2007... OUTBACK STEAKHOUSE, THE Australian-themed restaurant chain, is to put its UK arm up for sale. The US business is looking for investors to roll out the concept in the UK from its six outlets. Coffer Corporate Leisure advises the US...

Property gets ready for extended stay in hotels: PKF's Hotel Britain report predicts increase in property companies buying hotels.(News)
March 30, 2007... THE NUMBER OF PROPERTY COMPANIES investing in hotels is set to reach a record high this year, according to a report by accountancy and advisor/firm PKE Hotel Britain 2007, PKF's annual guide to UK hotel industry's performance and...

Barclays to sell 300 branches.(News)(Barclay Partners L.L.C.)
March 30, 2007... BARCLAYS HAS APPOINTED ATISREAL and Donaldsons to sell up to 300 branches across the UK as a result of its merger with Woolwich last year. The branches are a mix of leaseholds, long leaseholds and freeholds, and will be sold in tranches....

Modus to rebuild Coventry.(News)(Brief article)
March 30, 2007... MODUS IS SET TO BUY A LARGE CHUNK of Coventry's main shopping area for redevelopment. Modus is understood to be in advanced talks with Prupim to buy its West Orchards shopping centre. It is thought to be paying around 65m [pounds...

Fashion retailer Gas's new format is to make its UK debut in May at its store in London's Chelsea.(News)
March 30, 2007... [ILLUSTRATION OMITTED] Caption: Fashion retailer Gas's new format is to make its UK debut in May at its store in London's Chelsea. The two-storey 3,767 sq ft (350 sq m) store at 18/21 Duke of York Square is part of a rollout of the new...

More woes for ING at giant Warsaw shopping centre: ING unable to deliver 50% stake in 2.4m sq ft scheme to joint venture partner.(Global: news and analysis from Europe and across the world)
March 30, 2007... ING REAL ESTATE HAS BEEN UNABLE TO gain full control of its Zlote Tarasy mixed-use development in the Polish capital, Warsaw, and will have to financially compensate its joint venture partner Rodamco Europe. Menno Haas, chief executive...

G-REIT introduction receives nod.
March 30, 2007... German lawmakers approved the introduction of the G-REIT last week. Tenanted residential property has been excluded from the legislation, although a maximum of 49% of residential will be allowed in mixed-use buildings and schemes.

Tritax launches 90m [euro] Polish fund.(Brief article)
March 30, 2007... UK company Tritax Securities is launching a Polish commercial property fund called Tritax Polska No 1 Fund. It aims to raise 90m [euro] (61m [pounds sterling]) of equity and non-recourse funding and will invest in office, industrial, retail and...

Invesco buys Dusseldorf hotel.
March 30, 2007... Invesco Real Estate last week bought the four-star Lindner Hotel Airport Dusseldofffoz 32m [euro] (22m [pounds sterling]) for its 250m [euro] (169m [pounds sterling]) Invesco hotel fund. The hotel has 239 bedrooms and conference facilities and...

Chinese property law reforms.(Global: news and analysis from Europe and across the world)(Brief article)
March 30, 2007... CHINESE PRESIDENT AND Communist Party leader Hu Jintao on Sunday hailed a new property law enacted last week as 'a significant move towards implementing the basic strategy of governing the country according to law'. The new law, which for...

UK architect GMW Architects has entered a design competition to redevelop the Hajj Terminal complex at King Abdul Aziz International airport in Jeddah, Saudi Arabia.(Global: news and analysis from Europe and across the world)
March 30, 2007... [ILLUSTRATION OMITTED] Caption: UK architect GMW Architects has entered a design competition to redevelop the Hajj Terminal complex at King Abdul Aziz International airport in Jeddah, Saudi Arabia. It is part of a project consortium led by...

Howard Ronson: pioneer of global development: industry pays tribute to founder of HRO International who died last week.(Global--Obituary)(Industry overview)
March 30, 2007... THERE WERE THE USUAL LUNCHES AND dinners aboard the Howard Ronson yacht, Nounou Five, at MIPIM in Cannes two weeks ago. The generously hosted meals are an annual tradition of development company HRO, which was set up by high-rolling developer...

British Land embarks on debut Broadgate sale ...: European Bank building is first to be sold from 3.44bn [pounds sterling] estate.(Finance)(British Land Company PLC)
March 30, 2007... BRITISH LAND IS CARRYING OUT THE first-ever building sale at its 3.44bn [pounds sterling] Broadgate estate in the City of London. The company has appointed DTZ to begin marketing this week of the European Bank for Reconstruction and...

... And takes steps to cut carbon footprint.(Finance)(British Land PLC)(Brief article)
March 30, 2007... BRITISH LAND AIMS TO BECOME the 'greenest' company in the UK's quoted property sector. Inspired by a desire to tackle issues of climate change and sustainability, British Land this week revealed details of a pioneering range of...

Persimmon could scupper 5bn [pounds sterling] Taylor Wimpey merger: shareholder discontent may push housebuilder to launch counter-bid.(Finance--News)
March 30, 2007... THE PROPOSED MERGER BETWEEN Taylor Woodrow and George Wimpey looks delicately poised, amid persistent rumours that Persimmon is contemplating a counter-bid for one of the companies. Shareholders and directors of Wimpey and Taylor Woodrow...

Cityview: James Whitmore.(Finance--News)
March 30, 2007... PETER REDFERN, CHIEF EXECUTIVE OF Wimpey, this week described his company's preposed 5bn [pounds sterling] merger with Taylor Woodrow as a 'marriage made in heaven'. If this is the case, then why was it not conceived until February? If...

Public Service lists on AIM.(Public Service Properties Investments)(Brief article)
March 30, 2007... Public Service Properties Investments, a British Virgin Islands company that owns 149m [pounds sterling] of properties in the UK, US and Switzerland, listed on AIM last Monday with a market capitalisation of 100m [pounds sterling]. The company...

AFI aims for London flotation.
March 30, 2007... Africa Israel, a Tel Aviv-listed conglomerate controlled by Lev Leviev, is to spin off its $3.8bn (1.9bn [pounds sterling]) Russian property arm. AFI Development this week announced its intention to float in London. It is 88% owned by Africa...

Grainger stockpiles 18.4m [pounds sterling].
March 30, 2007... Grainger, the UK's largest quoted residential property owner and trader, has bought shareholdings in two companies giving it 18.4m [pounds sterling] of properties. The portfolio comprises 136 homes, with 110 regulated properties valued at 15m...

Eurohypo's debut debt obligation.(Brief article)
March 30, 2007... Eurohypo, Europe's largest commercial real estate bank, has priced its Glastonbury Finance 2007-1 vehicle's 354m [pounds sterling] commercial real estate collaterised debt obligation. It is the first one of its kind to be launched by a European...

Workspace hires finance director.
March 30, 2007... Workspace has appointed Graham Clemett as finance director to replace Mark Taylor, who is retiring after 12 years. Clemett joins from the Royal Bank of Scotland, where he was finance director of the UK corporate banking division.

Lok'nStore secures 10m [pounds sterling] sale.
March 30, 2007... Lok'nStore, the AIM-listed self-storage company, sold its site in Kingston upon Thames, Surrey, to a residential developer for 10m [pounds sterling]. The property, which has a book value of 1.33m [pounds sterling], was valued by Cushman &...

Castlemore to float local shops REIT: Riley and Gregory aim to raise 160m [pounds sterling] to expand high-yielding portfolio.(Finance--News)
March 30, 2007... A COMPANY THAT BUYS SHOPS IN parades and is controlled by Grahame Whateley's Castlemore Holdings plans to list as a REIT. The Local Shopping REIT is looking to raise up to 160m [pounds sterling] through a listing on the London Stock...

Ediston agrees 6m [pounds sterling] Palmer buyout.(Finance--News)(Ediston Properties, Palmer Capital Partners)(Brief article)
March 30, 2007... SCOTTISH DEVELOPER EDISTON Properties has bought itself out from its venture capital backer Palmer Capital Partners. Ediston founders Ken Barrett and Danny O'Neill are paying Palmer 6m [pounds sterling] for its one-third shareholding, which...

Brixton to develop through downturn: West London focus for 300m [pounds sterling] development programme.(Finance--News)(Brixton Estate PLC)
March 30, 2007... BRIXTON IS STEPPING UP ITS development programme to make more money in the slowing industrial market. Revealing a solid set of annual results this week, chief executive Tim Wheeler said: 'We have taken the decision to gear up--on a...

Assura's asset value soars on back of 17m [pounds sterling] surplus.(Finance--News)(Assura Group)(Brief article)
March 30, 2007... ASSURA GROUP, THE PRIMARY healthcare property investor headed by Richard Burrell, achieved a 37% rise in net asset value last year. The strong uplift to 114p a share was driven by a 17m [pounds sterling] surplus on the property portfolio...

DevSecs' regional push drives 11% NAV growth.(Finance--News)(Development Securities, net asset value )(Brief article)
March 30, 2007... DEVELOPMENT SECURITIES increased its net asset value by 11% last year, as it progressed its focus on schemes in suburban London and regional cities. The NAV rise to 568p a share was driven by developments at PaddingtonCentral, CityPark in...

Minerva regains profit.(earnings )(Brief article)
March 30, 2007... Developer Minerva returned to the black at the half-year stage, helped by a revaluation surplus. The 17.7m [pounds sterling] surplus in the second half of 2006, which now goes through the profit and loss account, led to a 15.4m [pounds...

London & Associated's NAV hike.(London & Associated Properties, net asset value )(Brief article)
March 30, 2007... London & Associated Properties, the retail investor headed by John Heller, achieved a 15% increase in net asset value to 134p a share in 2006. The 193m [pounds sterling] portfolio increased by 13.7% in value, of which 60% was because of a shift...

Plaza profits plummet.(earnings Plaza Centers)(Brief article)
March 30, 2007... Plaza Centers, the central and eastern Europe shopping centre developer, posted a fall in full-year pretax profits because of takeovers and funding for its construction programme, but delivered an upbeat statement on its future prospects. The...

Estavis seeks Frankfurt float.
March 30, 2007... Berlin-based property company Estavis aims to raise up to (115m [euro] (78m [pounds sterling]) in a flotation on the Frankfurt Stock Exchange. This is Estavis's second attempt to float. It called off a planned IPO in October before the share...

Engel's profit surge.(Engel East Europe)(Brief article)
March 30, 2007... Engel East Europe, the AIM-listed central and eastern European residential developer, increased its net asset value by 28% to (0.64 [euro] a share and its pretax profits by 671% to 15.4m [euro] (10.5m [pounds sterling]) in 2006. The estimated...

Bloom taps private client brokers for latest listing: Veteran entrepreneur floats new Equable company after purchasing 10 pubs.(Private investor: All you need for your clients' and your own portfolios)
March 30, 2007... DESMOND BLOOM IS ONCE AGAIN BACK at the helm of a UK-listed company. After spells running Dwyer, Premier Land, Manx & Overseas, Eurocity and Hemisphere, the property entrepreneur has today listed Equable Properties on AIM, triggering the...

Developer IFA goes on tourist trail in London.(Private investor: All you need for your clients' and your own portfolios)
March 30, 2007... LUXURY RESORT AND HOTEL DEVELOPER IFA Hotels & Resorts has opened its first office in London in a bid to target UK private investors looking at global leisure destinations. IFA develops mixed-use and tourism projects throughout Europe, the...

Investor buys LandSecs' Manc retail park.(Private investor: All you need for your clients' and your own portfolios)(Land Securities Group PLC)(Brief article)
March 30, 2007... LAND SECURITIES HAS SOLD THE 85m [pounds sterling] White City retail park in Manchester to a local investor as part of its focus on the development of open A1 schemes. It has sold the 185,226 sq ft (17,207 sq m) scheme at a net initial...

Big debut for Binstock.(Private investor: All you need for your clients' and your own portfolios)(joint venture of Andrew Binstock Sutton Kersh)(Brief article)
March 30, 2007... SUTTON KERSH BINSTOCK, THE London joint venture between auctioneer Andrew Binstock and Liverpool firm Sutton Kersh, sold 76% of the 25 residential and commercial lots at Watford's Ramada Jarvis hotel last Thursday, raising 5.22m [pounds...

"New vehicles may compete with REITs for your favour": open-ended investment companies could become investors' vehicle of choice.(Private investor--Opinion)
March 30, 2007... AUTHORISED INVESTMENT FUNDS, WHICH HOLD property and are constituted as open-ended investment companies (OEICs)--but not authorised unit trusts--will be able to provide pension and other tax-exempt investors with tax-transparent returns, as a...

Grocer asse'ts: Sir Terry Leahy has built Tesco into Britain's most successful business. Today he tells Giles Barrie how property is at the heart of his strategy and fights back over allegations of land banking.(Analysis + opinion - Retail)(Interview)
March 30, 2007... 'THEY'RE ALL BILLIONAIRES NOW, AREN'T THEY?' JOKES Sir Terry Leahy as he points at a picture of Gerald Ronson on the cover of Property Week. He may know Ronson, he may not. But one thing is sure: the chief executive of Britain's biggest...