UK Business Property - RSS FeedCommercial Property NewsGreat Portland cash out the MET building for 107 million- September 28, 2007 Great Portland Estates PLC said it has agreed to sell its 110,000 square-feet MET building to Lazari Investments for £107 million, which represents a net initial yield to the purchaser of 4.1 pct.The building generates rental incomhttp://www.ukbusinessproperty.co.uk/news/article/269 Enterprise Inns trading as expected but delays debt financing due to market conditions- September 28, 2007 Pub firm Enterprise Inns said today that trading for the year remained on track as talks about qualifying for low-tax REIT status continued, but it was delaying debt refinancing due to financial market turmoil.Enterprise said that despithttp://www.ukbusinessproperty.co.uk/news/article/270 Hedge Fund RAB capital snaps up Northern Rock shares to become largest shareholder- September 28, 2007 Hedge fund RAB Capital has increased its stake in Northern Rock to almost 7 percent, it said on Thursday, as shares in the stricken bank were buoyed for a second day by takeover speculation.By 3:05 p.m. BST, Northern Rock shares wehttp://www.ukbusinessproperty.co.uk/news/article/271 Erinaceous report half year loss of 3.9 million as Turnbull takes day to day control- September 27, 2007 Erinaceous reported a pre-tax loss of £3.9 million for the six months to June 30 as trading conditions in the UK commercial property market worsened.The company, which had delayed publication of its figures pending talks with lenders cohttp://www.ukbusinessproperty.co.uk/news/article/266 Erinaceous update- Shares collapse 38% valuing the former 300million company at 53 million- September 27, 2007 Shares in Erinaceous Group plunged by as much as 38% today after the beleaguered facilities manager posted a first-half loss and said poor trading had caused it to breach certain of its banking covenants.In first-half figures released today, chttp://www.ukbusinessproperty.co.uk/news/article/268 Eversheds sued for 20 million by Nationwide as fall out from Erinaceous settlement continues- September 27, 2007 Law firm Eversheds is being sued for £20m by Nationwide in one of the largest negligence claims brought against a top UK firm in recent times and follows the multimillion-pound settlement against Dunlop Haywards, a surveying unit of Erinaceoushttp://www.ukbusinessproperty.co.uk/news/article/267 British Land and Hammerson CEO's say commercial property market due correction not massive drama- September 26, 2007 Commercial real estate is headed for a market correction but not a major one, helped by a likely slowdown in London office developments, the heads of two of Britain's biggest listed property companies said on Tuesday.Stephen Hester, chief exechttp://www.ukbusinessproperty.co.uk/news/article/264 Rugby Estates continue to build commercial property portfolio for conversion to a REIT- September 26, 2007 Rugby Estates Investment Trust has bought the assets of property company JPRA for a consideration of £17.7 million. The directors estimate the effective acquisition cost to the Group of the property portfolio to be approximately £20.0 millihttp://www.ukbusinessproperty.co.uk/news/article/265 Property Alliance snap up South Manchester office investment on 6.5% yield- September 25, 2007 Property investor David Russell has taken advantage of the current property market to snap up a Sale office block.His Property Alliance Group has bought 177 Cross Street, Sale from Winners UK for £2.35m. The sale reflects a net initial yhttp://www.ukbusinessproperty.co.uk/news/article/263 CBRE say that fall-out from US sub-prime crisis will hit London office development market- September 25, 2007 The equivalent of two to four skyscrapers per year are now unlikely to be built in London in 2009 to 2011 due to fallout from the U.S. subprime crisis, property services firm CB Richard Ellis (CBRE) said on Monday.CBRE said it expected 2.5 milhttp://www.ukbusinessproperty.co.uk/news/article/262 |