UK Business Property - RSS FeedCommercial Property NewsSomerfield not affected by Kwik Save closures- May 31, 2007 It had been thought that the Robert Tchenguiz led consortium which bought Somerfield in 2005 and which then sold Kwik Save would be liable for more than £20 million if Kwik Save failed. We have now learned that only around a dozen leases are assihttp://www.ukbusinessproperty.co.uk/news/article/95 Progress applies for 125m hotel development in Glasgow- May 30, 2007 A run-down area of Glasgow is set to see a new £125m high-rise hotel development, it has been revealed in an application for planning today, which was welcomed by Glasgow City Council.The scheme is the brain-child of Glasgow born, Londonhttp://www.ukbusinessproperty.co.uk/news/article/94 Kwik Save To Close 79 Lossmaking Stores - Fears of knock on effect on Somerfield- May 30, 2007 Struggling supermarket chain Kwik Save is closing 79 stores in a bid to secure the future of the business and amid reports that key suppliers have stopped delivering goods to the group. The company said in a brief statement, "To enable the business thttp://www.ukbusinessproperty.co.uk/news/article/93 Salloway and Gerald Eve to sell hybrid units at new Buiness Park in Burton upon Trent- May 29, 2007 Derby property developmer D'zignuk has started work on a new three-acre business park in Wetmore Road, Burton-upon-Trent.The project will be undertaken by Old Granary Developments, a joint venture between D'zignuk and Harrison and Finney.brhttp://www.ukbusinessproperty.co.uk/news/article/92 CBRE Advising Wood Group on new 30 million Aberdeen HQ move- May 29, 2007 SCOTTISH energy services giant Wood Group is to build new headquarters in Aberdeen to house up to 1,300 staff.Three locations in and outside Aberdeen city centre have been shortlisted and the group is expected to name its preferred choice forhttp://www.ukbusinessproperty.co.uk/news/article/91 Chinese clothing makers to set up in Wigan- May 29, 2007 Commercial Group Properties PLC, the recently AIM-listed property development company, has confirmed reports that it is in negotiations with Wigan Borough Council in negotiations with regard to bringing Chinese textile and apparel manufacturing companieshttp://www.ukbusinessproperty.co.uk/news/article/90 Marstons rules out the REIT route as sales rise 6.6%- May 25, 2007 Marston's, formerly known as Wolverhampton & Dudley Breweries, said it had considered putting its property assets into a real estate investment trust (Reit), but said: “We estimate currently that the costs of implementing a Reit structure by splhttp://www.ukbusinessproperty.co.uk/news/article/89 The Powerhouse verdict - the diminished value of parent company guarantees will be costly for tenants- May 24, 2007 The recent Powerhouse case gave landlords cause to review the value of parent company guarantees for leases. Central to the case was the interpretation of the debt owed by large electrical retailer, Powerhouse, to a group of some of the UK’s biggesthttp://www.ukbusinessproperty.co.uk/news/article/86 Privatisation of British Waterways under consideration at DEFRA - sale could raise 1 billion- May 24, 2007 The Government is considering a billion pound-plus sale of the country’s canals and waterways. British Waterways, the government-controlled body responsible for 2,200 miles of canals and rivers in the UK, is running a beauty parade ofhttp://www.ukbusinessproperty.co.uk/news/article/87 Morrisons will not put property assets into REIT - Sir Ken intends to continue as now.- May 24, 2007 Supermarket group Morrisons has joined Sainsbury's in insisting that it will keep control of its considerable property assets, which it believes are vital to its future growth prospects. They see increasing store space as a key element of future growth sthttp://www.ukbusinessproperty.co.uk/news/article/88 |