Euro Property articles from March 2004

Euro Property archives from March 2004

Heard in the Eurolounge.
March 1, 2004... An incentive that's miles better Agents who bring Germany's DB Real Estate new inquiries and viewings for office space or conclude lettings are now to earn Lufthansa air miles for their efforts. The fund manager launched the incentive scheme,...

Buyers flock to malls of central Europe.
March 1, 2004... Investors from all regions are rushing to enter the rapidly expanding retail markets of Poland, Hungary and the Czech Republic. Competition for centres in capital cities is strong, but buyers are also looking for hypermarket-anchored malls in...

Leisure principle is the key to winning future shoppers.
March 1, 2004... Shopping destinations must offer a wider leisure experience to woo today's promiscuous shoppers Much has been written about the interface between retail and leisure. The connection clearly depends on the type of shopping trip involved. The...

Heitman International.
March 1, 2004... The US fund manager holds over 1bn of continental property and has recently entered a number of joint-ventures to develop retail and residential space in central Europe Heitman International's profile in central Europe is set to become even...

Degi.
March 1, 2004... Following poor performance from its flagship Grundwert-Fonds fund, the German company aims to revamp its domestic portfolio and expand its international assets German open-ended fund Degi Deutsche Gesellschaft fur Immobilienfonds reported...

Asia index leads the pack as securities show strong global performance.
March 1, 2004... The Asia market is leading the properties securities pack globally, having gained 12.5% since the start of the year, compared to an 8.7% rise for Europe and 3.6% for North America. The aggregate rise for global stock performance is 6.7%. But...

Keen investors defy the fundamental rules.
March 1, 2004... Many respondents to EuroProperty's first Investor Intentions Survey expect yields to rise this year - a normal result of weakness in the lettings market. But their "buy" stance suggests that demand will in fact keen yields keen, as capital...

Apsys.
March 1, 2004... The French retail developer and investor divides its activities between France and Poland. It undertakes all stages of development and manages the completed scheme Private retail developer Apsys is working on schemes totalling 320,000m2 in two...

Reits fail to get German pulses racing.
March 1, 2004... The emergence of plans for a real estate investment trust (reit) in Germany (see page 1) have not been accompanied by the celebrations that greeted proposals for similar vehicles in France and the UK. The French rightly commended themselves...

City of London awaits recovery as West End sees signs of rising.
March 1, 2004... Central London vacancy rates have peaked for this cycle, according to Knight Frank's latest market report. The central London vacancy rate stood at 12.7%, or 2.56m m2, with the company predicting that availability will largely remain unchanged...

People.
March 1, 2004... De Poulpiquet joins Pirelli Olivier de Poulpiquet has been appointed general manager for commercial and non-performing loans at Pirelli RE, the fund management arm of Italy's Pirelli & C Real Estate. He will be responsible for all activities...

Corporate sales are no longer a big deal.
March 1, 2004... German retailer Metro's recent decision to refinance rather than sell a mall in the wake of a failed portfolio sale is a sign that giant corporate disposals may have had their day. Opportunity funds now need to be focus on the assets being...

Retailers still unready for the sales season.
March 1, 2004... Europe's retailers own a far bigger proportion of property than their UScounterparts and have been slow to relinquish it. Italy has seen some large deals and retailers are under pressure to raise cash for expansion, but few have carried out...

Nieuwe Steen Investments.
March 1, 2004... The quoted Dutch fund has performed well despite its exposure to the ailing office market. Diversification across other Dutch markets has helped to ease the pain Quoted property investment fund Nieuwe Steen Investments (NSI) certainly has a...

North Americans switch to sales mode in Paris market.
March 1, 2004... North American investors accounted for just 9% of acquisitions in Paris last year, compared to 25% in 2002. German investors are now the biggest group of buyers North American buyers' share of total purchases in the French market dwindled to...

Retail & leisure.
March 1, 2004... Central Europe is catching a rising wave of retail investment while tenants and buyers across the region fight for a slice of the retail warehouse sector If whispers of tenant demand returning to the office market were meant to divert capital...

Parks lure new players off the high street.
March 1, 2004... High-street retailers and a wide range of investors are keen to stake an early claim to space on the Continent's burgeoning retail parks. International chains don't always lead the pack, with well-established local operators poised to gain a...

New Docklands quarter seeks developer bids.
March 1, 2004... British Waterways is inviting bids for a joint-venture partner to develop a [pounds sterling]2bn project in London's Docklands. British Waterways owns the freehold to Wood Wharf, an 8ha site in the north east corner of the Isle of Dogs next to...

New vehicles drive property stock demand.
March 1, 2004... The advent of tax-efficient property vehicles such as the SIIC in France, have made property equities more appealing to investors, improving the performance of property equities funds. These tend to operate across countries and sectors to...

SIICs poised to take specialist retail route.
March 1, 2004... If France follows the example of Australia and the US, a range of retail property specialists are likely to spring up to take advantage of the new tax-transparent SIIC vehicle regime. Investors would welcome such funds, as their clear focus...