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Company Details for
Resolution Property

News about Resolution Property

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Scheme discussions

Refurbishment possible

Midtown revamp

Soho start

Consent for £100m Soho scheme

Major revamp for EC4 building

Soho redevelopment plan

Puddle Dock poised

Allen & Overy benefits community

Allen & Overy as part of its relocation to Bishops Square, Spitalfields is understood to be required by London Borough of Tower Hamlets to complete a Section 106 agreement on 'community benefits' before planning permission is issued. For a Section 106 agreement to be signed by an occupier, with no involvement in the development, is unheard of in planning law. The agreement is said to cover 'soft' obligations such as working with local schools, training and job opportunities. Once the agreement is in place perhaps the last planning issue on the development will all have been resolved. - (14-11-2002)

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London Gate plans released

Detailed plans have been unveiled for the London Gate project in Hayes, Middlesex, which will provide 52,000 sq m (559,728 sq ft) of office space in six converted Art Deco buildings, formerly an EMI Records factory. The scheme has been designed by architect Gensler, and is being developed by Resolution Property. The London Borough of Hillingdon granted permission for the scheme at the end of 2000. - (17-06-2002)

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'right to light' claim

Churchill Securities is now said to be seeking an injunction against Marks & Spencer claiming that its development at 70 Gracechurch Street, also known as Limebank House, 168 Fenchurch Street, London EC3 affects a "right to light" clause on an adjoining building that Churchill owns. It appears that discussions have not resolved the issue and the threat of legal action is making it harder for M&S to find a tenant. Churchill is thought to have made M&S an offer of £150m for the building, subject to planning consent being granted to convert the recently completed building into a 34-storey tower (which would reportedly cost another £130m).

Colliers Conrad Ritblat Erdman and Jones Lang LaSalle are the letting agents for the scheme. It has also been reported that three City firms have pulled out of negotiations for Limebank House due to the legal problems. - (01-10-2001)

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Resolution funds London offices

UK based Resolution Property has launched three limited partnerships to finance more than £250m of property development in London. The financing will fund three office schemes in London boroughs of Hayes, Hammersmith, and Camden. The deal is backed by JER Partners and the Blackstone Group, US real estate investors. Deutsche Bank, and its property financing subsidiary Eurohypo, will provide debt of up to £165m to complete the deal. UK institutions invested a record £5.6bn in property in the first nine months of last year, and saw yields of around 7% achieved. - (18-05-2001)

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