UK Business Property - RSS FeedCommercial Property NewsMarstons meets expectations with steady growth- May 23, 2008 Marston's, the brewer and pub group, which owns the Pitcher and Piano chain, reported a 15.9% decline in first-half profit today, reflecting higher interest costs arising from its £150 million share buyback programme.Unhttp://www.ukbusinessproperty.co.uk/news/article/714 British Land sells the Willis Building for 400 million to realise profits on the development- May 22, 2008 British Land has sold the Willis Building in the City of London to property group St Martins for £400m.The UK property giant has exchanged contracts on the Norman Foster designed building opposite the Lloyd's building and expects the salhttp://www.ukbusinessproperty.co.uk/news/article/710 Great Portland Estates lose 2% NAV as revaluation wipes out profits.- May 22, 2008 Great Portland Estates, the London West End commercial property REIT, warned capital values could fall further after posting a 2% drop in its net asset value to £1050 million.Falls in valuations for the year ended March 31 pushed the comhttp://www.ukbusinessproperty.co.uk/news/article/709 Irish firm McInerney cuts back on UK developments as credit crunch hits sales 17%- May 22, 2008 In a statement, McInerney Holdings, the Irish quoted property developer and the parent company of McInerney Homes and Hillview Developments, said redundancies would be made and that offices would be merged across the group.The statement said:http://www.ukbusinessproperty.co.uk/news/article/711 Latest CBI GVA Grimley survey shows more firms looking to reduce commercial property holdings- May 22, 2008 Fewer firms expanded their property portfolios over the last six months, while the weaker economic outlook has pushed up the number of firms planning to reduce their property holdings, the latest CBIGVA Grimley Corporate Real Estate Survey reveals.http://www.ukbusinessproperty.co.uk/news/article/712 Tchenguiz the winner at M&B as management cave in- May 21, 2008 Pubs group Mitchells & Butlers today bowed to pressure from property tycoon Robert Tchenguiz, agreeing to put his representatives on the board and shake-up the business in line with his wishes.Tchenguiz has been pushing for M&B to splihttp://www.ukbusinessproperty.co.uk/news/article/707 End of credit crunch still not in sight says Trichet as Europe's banks already write off 56 billion- May 21, 2008 The end to the credit crunch is still not in sight, European Central Bank President, Jean-Claude Trichet and Warren Buffett, the world's most famous stock market investor, warned on Monday."These are demanding times, challenging times...http://www.ukbusinessproperty.co.uk/news/article/708 Darwinian forces take their toll of estate agents as no signs of improvement for H2 appear- May 20, 2008 According to Jonathan Haward, of the County Homesearch Company, up to half of all estate agents in the UK will disappear within five years.And Movewithus, the biggest network of independent estate agencies, has estimated that at least a thihttp://www.ukbusinessproperty.co.uk/news/article/705 Segro maintains 90%+ occupancy levels in UK and waits for the buying opportunity- May 20, 2008 Segro said in an interim management statement ahead of today's AGM, that demand has continued to be good in all of its markets, but continuing weakness in the credit and real estate investment markets have kept downward pressure on UK commercial propertyhttp://www.ukbusinessproperty.co.uk/news/article/706 Capital & Regional to tap investors for more capital.- May 19, 2008 Capital & Regional, the co-investing property asset manager, plans to raise capital to ensure its largest fund avoids breaching its bank agreements. For the investors already on board this will dilute their holding, but may be preferable in preservinghttp://www.ukbusinessproperty.co.uk/news/article/703 |