UK Business Property - RSS FeedCommercial Property NewsWm Morrison outperforms rivals with Q1 sales 7% up- June 5, 2008 Wm Morrison, Britain's fourth-biggest supermarket group, met forecasts today with a 7% rise in first-quarter underlying sales and said its outlook was unchanged despite tough trading conditions.This performance is ahead of it's main rivals whohttp://www.ukbusinessproperty.co.uk/news/article/730 Lend Lease starts construction of Olympic Village without funding agreement in place.- June 4, 2008 Construction work has started on the 2012 Olympic Village, but financial wrangling between the Olympic Delivery Authority and Lend Lease continues.2012 Olympic villagePiling on the first residential block has commenced, with work being dhttp://www.ukbusinessproperty.co.uk/news/article/728 Moodys say outlook for British banking system is negative, as the US expects a 2 year "credit recession"- June 4, 2008 Moody's, the financial ratings agency, said last week that the outlook for the British banking system is negative, citing economic weakness, high consumer indebtedness and negative credit conditions.Moody's stress-tested the loan portfolioshttp://www.ukbusinessproperty.co.uk/news/article/729 Scottish Equitable property fund makes disposals totalling 171.7 million to boost liquidity- June 3, 2008 PRUPIM, the property investment arm of British insurer Prudential , said yesterday it had bought the Edinburgh headquarters of rival Scottish Equitable, a unit of Dutch insurer Aegon NV , for £91.7 million.PRUPIM bought the 263,191 squarhttp://www.ukbusinessproperty.co.uk/news/article/726 John Laing wins ground breaking new role with Croydon Council in 450 million regeneration project- June 3, 2008 John Laing has landed the rights to a £450m project to regenerate major buildings in Croydon and to work on a 15 year partnership with the council – the first of its kind in the UK.Croydon Council announced the infrastructure firmhttp://www.ukbusinessproperty.co.uk/news/article/727 Bradford & Bingley lose 8 million in 1st 4 months causing it's shares to crash 26% and dragging sector down- June 2, 2008 US investor Texas Pacific Group is to buy a 20% stake in Bradford & Bingley for £150 million, in a move which should add some confidence about the future of Britains biggest Buy-to -Let lender.It follows a profits warning by the bhttp://www.ukbusinessproperty.co.uk/news/article/725 Humberts takes desperate measures to pay the wages as management consider the group's postion- June 2, 2008 Humberts, the old established estate agency chain, has sold two recently purchased estate agency businesses at a huge book loss.On Friday, it announced it had sold Halls Participations back to its management, for £1.9million, after buyinhttp://www.ukbusinessproperty.co.uk/news/article/724 |