Busy Days See Major Property Deals

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18 February 2014 | Updated 01 January 1970

Development Securities has appointed CBRE manage a portfolio and provide facility management services to 21 predominantly food store anchored shopping centres.

These include The Furlong Shopping Centre in Ringwood near Southampton, Swanley Shopping Centre in Kent, the Kingsland Shopping Centre in Thatcham and Atlantic Village in Bideford, Devon.  In total the UK portfolio spans approximately 1.5 millionsq.ft.

CBRE now property manages 50 shopping centres in the UK, with this figure rising to more than 200 across EMEA .

Hammersmith Grove and UKTV

The deal was announced on Monday, the same day Development Securities and the SWIP Property Trust announced that UKTV has signed a 15-year lease at 10 Hammersmith Grove to occupy the fourth and fifth floors of the building, representing 32,500sq.ft. of office space. UKTV will move from its existing offices at 245 Hammersmith Road.

Forward-funded by the SWIP Property Trust for £50 million, 10 Hammersmith Grove is the first of two office buildings in the centre of Hammersmith, adjacent to the underground station. It includes 110,000sq.ft. of Grade A office space as well as extensive new public realms and three restaurant units at ground level.

Julian Barwick, Executive Director of Development Securities said: "Hammersmith is a well connected London office location where occupier demand is strengthening and yet the supply of high quality office buildings is limited."

Kerri Hunter, Deputy Manager of the SWIP Property Trust said:  "One of the attractions of development is being able to create Grade A office space that attracts tenants on long leases."

UKTV Chief Executive, Darren Childs stated: "The new development increases the size of our current office and gives us the opportunity to create a working space fit for a broadcaster investing in technology."

Development Securities was advised by Jones Lang LaSalle. UKTV was advised by Nick Rock at BNP Paribas Real Estate.

Yesterday Development Securities announced that it had completed the acquisition of a portfolio of five office properties for £17.5 million in north London. The acquisition was partly financed by a new three-year facility from Barclays.

The portfolio comprises five office properties in underground zones 1 and 2 of North London, including locations in King's Cross, Camden and Highbury and Islington and comprising a total of 66,800sq.ft. of office accommodation.

Matthew Weiner from the company said: "The acquisition is a strong addition to our development and trading portfolio and supports our activities in fringe Central London locations which offer growth potential and benefit from good transport links. The portfolio presents a number of opportunities with options for change of use."

CBRE and Bank of America Merrill Lynch

Towards the end of last week, CBRE revealed it had renewed and expanded its relationship with Bank of America Merrill Lynch to provide transaction, project and facilities management, critical engineering, portfolio and consultancy services across Europe, the Middle East and Africa, Asia Pacific and Latin America. The scope of the contract has expanded to include operations in South Africa and Taiwan.

CBRE also showed its hand in land disposal – selling a tranche in Berkshire (Taplow) to Berkeley Homes

The site is pictured above

Situated on the banks of the River Thames and Jubilee River, the 42.1 acre triangular site comprises of The Skindles Hotel, a vacant warehouse site, boat yard, former paper mill and three period houses including Mill Island House, the derelict Dunloe Lodge and the Grade II Listed Glen Island House.  The site has the benefit of a planning brief for a residential led mixed use scheme.

As highlighted in a Crossrail report published by CBRE, Taplow is set to benefit from Europe’s largest infrastructure project which is well underway to reduce journey times into the capital by up to 40 minutes.

Article written by Brian Shillibeer | Published 18 February 2014

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