UK Business Property - RSS FeedCommercial Property NewsGrosvenor opens Liverpool One for business- May 29, 2008 Liverpool's new retail development, Liverpool One, opens for business today. The first phase of developer Grosvenor's giant regeneration scheme comprises over 100,000sq metres of retail space, anchored by new John Lewis and Debenhams stores.Rohttp://www.ukbusinessproperty.co.uk/news/article/722 Old Trafford likely to get major new development which includes 37 storey 180million skyscraper- May 29, 2008 Cork-based developer Howard Holdings is close to a deal with a hotel operator for a 190-bed four-star hotel next to Manchester United's Old Trafford stadium, the Manchester Evening News has reported.If agreed, the deal will open the door to ahttp://www.ukbusinessproperty.co.uk/news/article/721 Mortgage market confusion as rates harden and volumes remain at historic lows- May 29, 2008 Abbey has raised rates on some fixed-rate mortgages by up to 0.44% on the back of rising borrowing costs, just a week after announcing more rate cuts to lure new customers.The move has already prompted criticism from industry watchers, who sayhttp://www.ukbusinessproperty.co.uk/news/article/720 Shaftesbury disappoints the City with 10.5% fall in NAV as first loss since 1992 is posted- May 28, 2008 Shaftesbury, the REIT which owns more than 400 properties around Carnaby Street, Covent Garden and Chinatown, posted a 10.5% fall in adjusted net asset value in below-forecast first-half results today, and its shares slipped 3.6% in early trading.bhttp://www.ukbusinessproperty.co.uk/news/article/718 Scottish Widows sell Southend Matalan development for 6.4million to Rowan- May 28, 2008 Rowan Asset Management has acquired a prominent three acre retail warehouse site in Southend for £6.425 million from Scottish Widows. The purchase, with a net initial yield of 6.5%, will form part of Rowan’s UK Commercial Property Fund 3, targhttp://www.ukbusinessproperty.co.uk/news/article/719 The 2.9 billion Mall fund taps investors for 300million to avoid breach of key debt covenant- May 28, 2008 A £2.9billion shopping centre investment fund managed by Capital & Regional is to raise £300m through a deeply discounted rights issue to prevent a breach of a key debt covenant, reports the FT.Capital & Regional Plc. reitehttp://www.ukbusinessproperty.co.uk/news/article/723 Inflation now renders real interest rates negative for savers as HSBC chief calls for rate increase- May 27, 2008 The chief executive of Europe's biggest lender today called on central bankers to raise interest rates in order to combat inflation.Michael Geoghegan, group chief executive of HSBC Holdings, said that central banks were not yet committedhttp://www.ukbusinessproperty.co.uk/news/article/717 Metrovacesa ownership of HSBC Tower under threat in struggle to refinance the purchase- May 27, 2008 Spanish ownership of the £1.1bn HSBC Tower is under threat after it emerged the owners were struggling to meet a deadline to refinance debt on the building.Metrovacesa, the Spanish property group that bought the tower from HSBC for &pounhttp://www.ukbusinessproperty.co.uk/news/article/715 Vulture funds now have at least 27 billion as they wait for feeding time- May 27, 2008 There is a massive accumulation of funding waiting for the right market conditions in the UK Commercial property market, what those conditions are and whether they are likely to occur is the subject of much debate. CBRE suggests that opportunity funhttp://www.ukbusinessproperty.co.uk/news/article/716 Banks sanguine about covenant breaches on commercial property loans as few slip into default- May 23, 2008 The number of commercial property loans in default has climbed by 400% in 12 months, according to a report by De Montfort University. Nearly 400 loans slipped into default, up from fewer than 80 in 2006. The report also shows that lending to the commerciahttp://www.ukbusinessproperty.co.uk/news/article/713 |