Log in or Subscribe to see address details for Hines UK
Log in or Subscribe to see telephone and fax details for Hines UK
Log in or Subscribe to see email and website details for Hines UK
A full news search is available here
St Modwen, the developer, is said to be looking to bid for the redevelopment of the Elephant & Castle site in south London. The London Borough of Southwark is about to issue invitations to tender for the 71ha (170-acre) site. The scheme includes new office buildings, shopping centre, leisure uses and residential. Other groups thought to be preparing bids include Blackfriars Investments, with Royal London Asset Management, Berkeley Group, Hines, the US developer, and possibly Multiplex. The previous attempt by LB Southwark to find a developer partner fell apart in 2002. - (23-02-2005)
Add to portfolio
The headquarters of the London International Financial Futures & Options Exchange (LIFFE) has been sold in a £167m deal, a yield of about 7.9%. The 250-year lease on the 26,477 sq m (285,000 sq ft) building at Dowgate Hill, off Cannon Street EC4, has been acquired by Fordgate, a secretive private property group run by the Gertner brothers. The deal, one off the biggest this year, shows a profit for Pillar Properties, which paid Railtrack and General Electric £64m for the building in 1995. Pillar sold a 75% stake in the building to the Teachers Insurance and Annuity Association, the US pension fund, in 2000 for about £140m. Liffe occupies about half of the Canon Bridge building and has a 'rolling' tenant break. The rest of the space is occupied by Standard Chartered Bank and Winterflood Securities. In July 78 Cannon Street, adjoining Cannon Bridge, was sold by Marylebone Warwick Balfour (MWB) to Hines, the US property developer, for £53.3m. In the 1980's developer Speyhawk was considering linking the two buildings and there must still be potential for longer term redevelopment. Pillar and Teachers were advised by FPD Savills. - (06-10-2002)
Add to portfolio
Land Securities is reported to have launched a £175m bid for the One New Change building in London EC4, occupied by the Bank of England on a long leasehold. The 1.4ha (3.5 acre) site currently provides about 37,160 sq m (400,000 sq ft) of office space and could be redeveloped to provide a much larger scheme. Other bidders for the building are said to include Gerald Hines, the US investor, Blackstone Real Estate, Tishman Speyer, City & West and a limited partnership led by Wates City of London Properties. Development Securities is also said to be a possible bidder along with several European institutions. - (25-09-2000)
Add to portfolio