_Economy and Finance

Goldman to Axa Ride London’s Crossrail Office Boom By Neil Callanan & Patrick Gower - Aug 6, 2013 London’s high-speed rail project is helping to drive an office-building boom on the City of London’s western edge as investors rejuvenate aging sites like Smithfield Market near future transport hubs. http://www.bloomberg.com/news/2013-08-05/goldman-to-axa-ride-london-s-crossrail-office-boom-real-estate.html

Such low yields could signal the top of the property market in central London. Those sorts of yields are breathtaking. The problem is that when you get to the top of Mount Everest there is only way to go. - Michael Marx , Reuters, Jul 26, 2013

British Land Invests £470 million in Paddington Central Attractive West End Estate with Development Potential British Land is pleased to announce that it has acquired assets comprising the majority of Paddington Central, a 1.2 million sq ft office-led, mixed use estate close to Paddington station in London’s West End. The investment offers an attractive blend of income and capital return, with major development potential and significant future opportunity to improve the estate through asset management. On completion of the developments, British Land will own 1.0 million sq ft of a 1.6 million sq ft estate. http://www.britishland.com/media/news/2013/05-07-2013.aspx

Dynamic Regeneration: Design Centre Chelsea Harbour The Design Centre is the largest interior design retail and trade centre in Europe and forms part of the Chelsea Harbour Estate. http://www.marcol.com/index.php?page=chelsea-harbour

London office market 'reborn' Thursday 16 May 2013 Construction activity in the capital running at three times the level of three years ago, with 9.7 million sq ft of office space under construction. http://www.deloitte.com/view/en_GB/uk/news/news-in-focus/e72971f2eacae310VgnVCM2000003356f70aRCRD.htm

Investors eyeing active regional office markets outside London 1 May 2013 by Simret Samra Posted in News Headlines Key regional office markets outside of London witnessed a resurgence of interest from investors in Q1 2013, with strong demand for prime office stock. http://www.knightfrankblog.com/commercial-briefing/news-headlines/investors-eyeing-active-regional-office-markets-outside-of-london/

Q1 2013 occupier activity increases by 25% in UK’s Big Six office markets Current occupier demand levels, prelets and speculative starts buoy optimism London, 1 May 2013 – Signs of recovery across the UK’S Big Six* regional office markets continued during the first quarter of 2013 (Q1 2013) with total occupier take-up reaching one million sq ft, an increase of 25% compared with the same period last year, according to Jones Lang LaSalle’s latest research. http://www.joneslanglasalle.co.uk/UnitedKingdom/EN-GB/Pages/NewsItem.aspx?ItemID=27899

SAMSUNG SRA ASSET MANAGEMENT AND CUSHMAN & WAKEFIELD INVESTORS ACQUIRE 30 CROWN PLACE IN THE CITY OF LONDON 24 Apr, 2013, London Samsung SRA Asset Management ('Samsung SRA') through Cushman & Wakefield Investors ('CWI') has acquired 30 Crown Place, London EC2, on behalf of South Korean institutional investors from a fund managed by Hannover Leasing GmbH & Co. KG. http://www.cushwake.com/cwglobal/jsp/newsDetail.jsp?Language=EN&repId=c59700005p&Country=GB

Quiet Start to 2013 for Central London Office Market 11 April 2013 Figures released today in Capita Symonds’ ‘Central London Overview Q1 Report’ show that the central London office market got off to a quiet start in 2013. http://www.capitasymonds.co.uk/news__events/latest_news/quiet_start_to_2013_for_centra.aspx

LONDON REGAINS WORLD’S MOST EXPENSIVE OFFICE MARKET CROWN 19 Feb, 2013, London - London leapfrogs Hong Kong to take top spot for first time since 2008 - Rio de Janeiro soars from 8th to 3rd with a rental uplift of 43% on previous year - Global office rents increase by 3% http://www.cushwake.com/cwglobal/jsp/newsDetail.jsp?Country=GB&Language=EN&repId=c58100005p

Chelsea Harbour Chelsea Harbour is a mixed-use development in Central London, situated on the north bank of the River Thames, in the Sands End area. It lies within the eastern boundary of the London Borough of Hammersmith and Fulham and on the southwestern boundary of the Royal Borough of Kensington and Chelsea. It contains luxury apartments, a luxury hotel named Wyndham Grand, and offices and showrooms, surrounding a small marina. The development was designed by Architects Moxley, Jenner & Partners, - and built by P & O & Globe Investment Trust, through their subsidiary, Chelsea Harbour Ltd. The project management contractors were Bovis Homes Group and the development is now owned by Compco Holdings Ltd. The showrooms were originally named "Chelsea Garden Market", and are now known as the "Chelsea Harbour Design Centre". They consist of almost 66,000 sq.ft gross internal space with three large glazed domes over a galleria. The offices are in two build...

London regains crown as most expensive market for office space -report By Ilaina Jonas NEW YORK | Tue Feb 19, 2013 9:19 pm GMT (Reuters) - London elbowed its way past Hong Kong to regain the title as the world's most expensive market in which to rent office space, while Rio de Janeiro jumped to the No. 3 spot from No. 8, according to a report by global real estate services firm Cushman & Wakefield. http://uk.reuters.com/article/2013/02/19/uk-globalproperty-officerents-idUKBRE91I17N20130219

EUROPEAN REAL ESTATE LOAN SALES TO GATHER PACE IN 2013 30 Jan, 2013, London Against a background of continued economic uncertainty and impending regulatory changes, the pace of activity in the European real estate loan sale market will accelerate significantly over the next two years according to a new report from property consultant Cushman & Wakefield. Over the past 12 months, a total of 33 completed loan sale transactions were recorded, totaling €21.7 billion (up 146% on 2011), demonstrating that European commercial real estate (CRE) loan portfolios can be successfully traded. The market has made a strong start to 2013 and in view of the build up of activity amongst the banks and their legacy entities and their aggressive deleveraging targets, Cushman & Wakefield is forecasting over €25 billion of CRE loan portfolio and real estate-owned (REO) sales for the forthcoming year. http://www.cushwake.com/cwglobal/jsp/newsLanding.jsp?Language=EN&featuredNewsItemId=c6050000...

January 23, 2013, 6:20 a.m. ET Land Securities Eyes Recovery in London Office Market By PETER EVANS LONDON—Land Securities Group PLC on Wednesday said the London office market is showing signs of revival, as the company announced several new lettings on a 36-storey office tower it is building in the capital. http://online.wsj.com/article/SB10001424127887323539804578259320372774536.html

CENTRAL LONDON OFFICE MARKET PROVES RESILIENT IN 2012 31 Dec, 2012, London Despite a backdrop of a continued economic uncertainty, the Central London office market has proved resilient over the year according to the latest report from real estate consultants Cushman & Wakefield, which predicts that take up of new office space in Central London for the year to December will be 7.3 million sq ft, marginally below the 2011figure of 7.8 million sq ft. This latest report highlights the emergence of the Media & Tech and also insurance sectors as key drivers of demand, and that the continued growth of these sectors combined with a peak in lease expiry events in 2015, will result in a healthier leasing market over the next 12 months as occupiers are forced to consider their office space options. http://www.cushwake.com/cwglobal/jsp/newsDetail.jsp?Language=EN&repId=c57000005p&Country=GB

COMMERCIAL PROPERTY INVESTMENT IN LONDON HITS FIVE-YEAR HIGH 27 Dec, 2012, London - Investment volumes for 2012 reach £13.57 billion - an increase of 25 per cent on 2011 - Highest level of investment since 2007 - City investment increases by more than a third http://www.cushwake.com/cwglobal/jsp/newsDetail.jsp?Language=EN&repId=c57000007p&Country=GB

London office market: Good prospects from 2014 In its latest research paper, Henderson’s c. £12.4 billion Property business, examines prospects for the Central London office market. The report notes that City Fringe, West End and Midtown sub-markets have benefitted from strong take up by technology, media and telecommunications firms during an otherwise difficult year for the domestic economy. Core City take up has been dominated by lettings from the insurance sector with very subdued activity from banking. Underlying City take-up has been relatively stable over the last 12 months or so, at around 75% of the long run average. This sub-par level of activity is expected to persist while low confidence and volatility persists in the markets. http://www.property-magazine.eu/london-office-market-good-prospects-from-2014-23396.html

Blog Tour London: Design Centre Chelsea Harbour Saturday, November 03, 2012 | Category: Bed and Bath , Design Bloggers, Events, Shops and Showrooms http://materialgirlsblog.com/losangeles/2012/11/03/blog-tour-london-design-centre-chelsea-harbour/ As part of Blog Tour London , we visited the Design Centre Chelsea Harbour in London. During our visit, we were hosted by two sponsors: Samuel Heath and Victoria + Albert . Samuel Heath specilizes in both classic and contemporaty bath fittings and Victoria + Albert produces the most amazing volcanic baths and sink basins. Here’s a highlight from our visit to both showrooms! The entrance to the Samuel Heath showroom at the Design Centre Chelsea Harbour. Sleek modern bath fittings on display. Chic bath accessories in black. My somewhat iconic (& personal fave) pic of fellow bloggers and blog tour members: Igor of Happy Interior Blog and Will of Bright.Bazaar blog “modeling” for the Samuel Heath showroom. Just across th...

Design Centre Chelsea Harbor Everything you ever wished for your apartment and even more. Even if you are not planning on buying design furniture or Italian tiles for your bathroom, Design Centre Chelsea Harbor is well worth visiting. http://www.lomography.com/magazine/locations/2011/11/20/design-centre-chelsea-harbor A dazzling space for 90 showrooms and over 500 international interior brands. At over 90,000 square feet, it is the largest of its kind in Europe and well-established as a leading design destination. Design Centre occupies three huge glass domes – south, central and north. The space is cleverly decorated with huge pots of trees and orchids, and the installations coming from the dome ceilings are always changing. One time it could be figures of the geese, another time, shining black fish with disco balls. There is an amazing book store right by the entrance- RIBA Bookshop where you can come to keep up to date with all the latest trends. There are two coffee sho...