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News Archive: commercial property: 2008
22, 2008 December:
Battersea Power Station shrinks
Treasury Holdings UK has reduced the height of its Battersea Power Station plans by 250 metres...19, 2008 December:
900,000 Spanish jobs to be lost
The collapse of Spain's house building industry will mean up to 900,000 construction workers lose their jobs by the end of 2009, an industry head said on Tuesday, reinforcing expectations of a bitter Spanish recession...Billions abandoned in Oz
More than £27.1 billion of property projects in Australia have been abandoned this year due to a lack of finance caused by the global credit downturn...After 99 years, Woolies closes
The shutters will come down on all Woolworths' 807 stores by January 5th 2009 after Deloitte, administrator to the collapsed variety retailer, failed to find a buyer...18, 2008 December:
Sip to reap rewards
Sippable hotel rooms offer high income property for pension investors...Rewind to 1990
UK commercial property returns for 2008 look set to surpass the landmark losses recorded in 1990, on a real returns basis, according to the latest monthly index...16, 2008 December:
A successful pitch
Developer The Community Stadium has signed a £60 million-plus construction contract with Buckingham Group Construction for the development of a new stadium for Brighton & Hove Albion Football Club...Hotel hostility
UK hoteliers saw further declines in room rate, occupancy and rooms yield for November...15, 2008 December:
Dubai: developers talk
Real estate developers in Dubai are in talks with builders over plans to slow the pace of construction to allow them more time to find funding amid the global financial crisis...12, 2008 December:
Live life in the fast lane
Motorsport legend Michael Schumacher has teamed up with the Laboratory for Visionary Architecture to create the first of seven concept towers to be built worldwide in what has been described as the ‘next step in branded architecture'...Woolworths: another sale launched
Woolworths has launched a store closing sale on top of already heavy discounting...2012 village rescue deal
The body responsible for building the 2012 Olympic village in London is close to securing a rescue deal for the troubled project...Budapest project on scrapheap?
A major residential and commercial project on Csepel Island in central Budapest could be scrapped, following the collapse of Spanish developer Martinsa Fadesa earlier this year, according to Interfax CE...Port: not just for Christmas
Forth Ports has revealed its masterplan for the first two urban villages to be developed at Leith Docks in Edinburgh...11, 2008 December:
Commercial investment drops by half
Jones Lang LaSalle said today it expects around £21 billion of direct investment in commercial real estate in the UK by the end of this year which is down 55 per cent on last year's total...10, 2008 December:
UK commercial values to drop
Commercial property values in the UK could fall by a further 25 per cent in the next two years on top of the 25 per cent decline they have already suffered, according to the latest forecast...No sale for Land of Leather
Land of Leather, the furniture retailer, has terminated talks with potential buyers for the company...Kent: new learning hub
Planning consent has been granted to redevelop one of the worst performing schools in Kent into a £22 million learning academy...09, 2008 December:
USA commercial woes continue
Demand for commercial property in America has been severely impacted by the loss of thousands of jobs all across the country, with more losses predicted by the end of the year...Brazil hotels still booming
Brazilian real estate investors could be interested to learn that the Latin American nation's hotel industry has been relatively unaffected by the financial downturn, it has been reported...Dubai reconsidering plans
Dubai-based Meraas Development, which has unveiled a £63.8 billion property project since being formed just two months ago, says it is now reconsidering its plans in light of the economic slump...08, 2008 December:
Scheming developers in Middle East
As Dubai continues to dominate the property headlines for all the wrong reasons, developers in the Middle East have started a real push to entice new buyers by offering a host of new schemes...Towering over Canary Wharf
HSBC has confirmed it will take control of its tower in Canary Wharf from troubled Spanish property giant Metrovacesa...Capital values to halve?
Commercial property capital values could fall by a further 25 per cent over the next two years taking the total decline to at least 50 per cent ‘thanks to by a sharp drop in rents', said the Royal Institute of Chartered Surveyors...04, 2008 December:
Trump Tower suspended
Trump Tower, a £535 million scheme planned for one of Dubai's palm-shaped islands, has been suspended, according to one of the companies involved in the project, Australia's Leighton Holdings...King loses subjects
King Sturge is to lose between 60 and 80 London jobs through a redundancy consultancy announced to staff yesterday...Palm of your hand
Palm developer Nakheel is putting some of its flagship projects on hold and considering plans for an initial public offering to raise up to £7 billion as it faces massive cash flow problems...Met Police buy new base
The Metropolitan Police is close to buying its own headquarters, New Scotland Yard in central London, from Land Securities for £120 million...Building up comes down
New orders, building levels and employment all fell for the UK construction industry in November...03, 2008 December:
Makeover for St Petersburg
The historic city of St Petersburg in Russia is to get an extreme makeover - Architects HOK have unveiled plans which aim to regenerate the city's eastern fringes and include the city's first ‘Techno Park'...New Zealand farms hit hard
New Zealand's agricultural industries will be hit hard by the financial crisis and some farms with existing debt could go under, according to a ministerial briefing paper to the in-coming Government...Shopping mall for Slovakia
Quinlan Private Golub, the central and eastern European development company of Ireland's Quinlan Private, is to develop a large shopping centre scheme in Bratislava, Slovakia...Pricey office space
London's West End and Moscow are the most expensive office property markets in the world according to the latest commercial rent report...02, 2008 December:
Dubai workforce slashed
Dubai's residential market slump took a turn for the worst yesterday as Nakheel, the Government-owned property developer, announced it was slashing 15 per cent of its workforce and it emerged that Morgan Stanley and Credit Suisse also are cutting regional staff...Dubai Free Zone near completion
Dubai Airport Free Zone expansion nears completion...Building falls flat
Residential construction sank further into the mire in October, with the number of new dwelling units authorised the lowest in 16 years...Croydon facelift
John Laing and Croydon Council sign £450 million regeneration deal...01, 2008 December:
Netting a winner in Dubai
Tennis legends David Lloyd and Greg Rusedski are teaming up to start an overseas property business, which will involve investing in a number of properties around the world, which will then be rented out on a timeshare basis...New Zealand on knife edge
New Zealand Architects believe the building industry is on "a knife-edge" and just 10 per cent have secured 12 months or more of work, according to a survey by online architect's library eBoss...27, 2008 November:
Life begins at 40
This morning, the world famous Queen Elizabeth 2 ship started her new life in Dubai -TheMoveChannel.com looks at the renovation project behind her transformation into one of the world's most exclusive floating hotels...NZ job alert
Tens of thousands of jobs in New Zealand's property sector, along with its finance, construction, retail, and tourism industries are expected to be axed next year as the recession takes its toll...26, 2008 November:
Investment trusts: new rules
The UK Government is set to tighten up the rules for real estate investment trusts (REITs), to keep out property-rich businesses - such as pubs - which do not generate at least 75 per cent of their gross income from renting property out to third party tenants...Oxford Street shut
Oxford Street has been temporarily closed between Bond Street and Holles Street due to an unsafe building being redeveloped by Legal & General at 315-319 Oxford Street...Whining over wine country
A £50 million luxury 500 acre resort in the US which was to have a Tuscan-themed village at the heart of its wine country project is one of the latest high profile casualties of the credit crisis...Yes, we Canning
The English Cities Fund has submitted plans for a £180 million mixed-use development in Canning Town, East London that will also see the revitalisation of a historic market...25, 2008 November:
Celeb club goes under
The popular celebrity footballers hangout, La Manga Club resort in Murcia, has been forced into administration...Investors eye struggling markets
Struggling property markets in Asia are starting to attract strong interest from investors with Japan and China among the most popular...Snapping up USA property
Overseas property investors are expressing an interest in the US property market due to the bargains and currency conversion advantages currently available, it has been claimed...Debenham's dirhams
Middle-East funds go for Debenhams' Oxford Street store after £150 million deal fails...Bookmark This Page
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