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Great Portland Estates is planning to raise £160m via the international bond markets to fund its development and investment programme in central London. The property company, which has four London office schemes underway, is understood to be planning to sell two tranches of seven-year and ten-year bonds. - (08-04-2011)
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Central London office lettings topped 1m sq ft again in February 2010, continuing the positive trend of the last six months. Although only 30 deals over 5,000 sq ft were signed, large lettings to Shell, LOCOG and Stephenson Harwood, pushed the total into seven figures again. Just over 100,000 sq ft was new, grade A, space. - (25-03-2010)
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ING Real Estate has completed its 1,548 sq m (16,667 sq ft) office refurbishment of the seven-storey office and retail building at 2-4 Eastcheap, London, EC3. Tuffin Ferraby Taylor advised. Cuffe was main contractor and the letting agent is King Sturge. - (15-02-2008)
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Teighmore, the consortium consisting of Sellar Property, CLS and Simon Halabi, is hoping to start demolition at the London Bridge Station (Shard of Glass) site in London, SE1, in mid October 2007. The demolition will take seven months. The main construction contract will not start until funding is in place but a Middle Eastern bank is said to be considering financing the £1bn scheme. Completion of the development is expected in 2010 or 2011. - (18-09-2007)
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Thornfield Developments has had its plans to redevelop the west wing (General Market building) of the former Smithfield market at 43 Farringdon Street, London, EC1, called in and could face a public inquiry. The plans are seen as a possible conflict with “national policies on important matters”. The £150m plans are for a seven storey 39,204 sq m (422,000 sq ft) redevelopment. Other buildings in Smithfield are no longer part of the plans, which have been scaled down following the listing of the Red House cold store earlier in the year. - (06-07-2006)
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The Lloyd’s Building in the City of London has been acquired by Shelbourne Investments, the Irish-based company owned by Garrett Kelleher, in a deal at around £240m. The 32,330 sq m (348,000 sq ft) building is owned by Deka, the German investment fund, which is thought to have paid around £186m for the building in 1986. Shelbourne Investments beat off seven rival to buy the building, currently let to the Society of Lloyd’s on a lease expiring in February 2013. The acquisition is Shelbourne’s second investment in the City of London having paid about £16.0m for the lease on 18-20 Cannon Street, London, EC4 last year. - (12-01-2004)
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London Underground has announced plans for a new tube station at Camden Town in London NW1. A planning application is to be submitted to the London Borough of Camden in the next few weeks. The proposal includes a seven-storey office building, a new bus interchange, a ticket hall and four blocks of flats. A temporary station will be built before the existing structure is demolished and rebuilt. - (10-11-2002)
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Standard Life Investments has unveiled the final designs for the redeveloped Juxon House, part of the Paternoster Square scheme in London EC4. The seven-storey building has been designed by Sidell Gibson Partnership and will provide about 11,891 sq m (128,000 sq ft) of office space with 1,858 sq m (20,000 sq ft) of retail space on the ground floor. The overall masterplan for the Paternoster Square area is by Whitfield Partners. The building, which has a curved classical façade in contrast to the previous 1960's 'box' design, will be completed in summer 2003.
- (13-01-2002)
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The St Katherine's Dock mixed-use development in East Smithfield, London E1 is understood to have been put on the market by Taylor Woodrow. In 1969 the Port of London Authority sold the docks in Wapping to the Greater London Council for £1.5m and in 1969 the GLC awarded Taylor Woodrow the project to develop the docks, the first London Docklands regeneration project. The development includes the K2 site, previously called Europe House, which is planned as a 21,802sq m (234,676 sq ft) building that will provide seven-floors of office space, amounting to 16,720 sq m (180,000 sq ft), and a lower ground floor of 1,394 sq m (15,000 sq ft) of retail and restaurant space. The whole St Katherine's Dock development is on the market through Jones Lang LaSalle and is expected to be sold for around £250m. Possible bidders are said to include Catalyst Capital (previously Greenwich Group) with Lehman Brothers, and the US funds JE Roberts and Blackstone. - (01-07-2001)
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Taylor Woodrow, the construction group, has submitted a planning application for the power station at Lots Road, London SW10 to be retained as a mixed-use office and retail centre, with about 8,361 sq m (90,000 sq ft) of space. The scheme for the seven acre site also includes two 39 and 25-storey residential towers. Taylor Woodrow acquired the site last year and is said to have teamed up with Hutchison Whampoa, the Hong-Kong group, for the £350m project. The scheme will be developed by the joint venture company called Circadian and has been designed by Terry Farrell & Partners. - (12-06-2001)
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Parkview International has been granted planning permission by the London Borough of Wandsworth for the redevelopment of Battersea Power Station, London SW11, as a retail and leisure scheme. Detailed planning permission was given to all parts of the site not covered by earlier permissions. The latest planning decision approved Nicholas Grimshaw's designs for the redevelopment of Battersea Jetty, a 725-room hotel as part of a conference centre, with 18,004 sq m (193,800 sq ft) of meeting and banqueting space and a 2,100 seat theatre. Parkview now has consent to develop the 14ha (33.6 acres) site surrounding the power station with 1,125 hotel beds, a 44,128 sq m (475,000 sq ft) product showcase building, a 22,017 sq m (237,000 sq ft) seven-storey office building and residential units. The listed power station building will be used to accommodate a mix of retail, cafes, bars, restaurants, cinemas and other attractions. - (01-06-2001)
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Credit Suisse First Boston has agreed Heads of Terms to lease a further 46,451 sq m (500,000 sq ft) of office space at 5 Canada Square (site DS1) Canary Wharf, London E14. DS1 is currently under construction and the architect of the 14-storey tower is Skidmore Owings & Merrill (SOM). The new office space is due to be due for occupation in spring 2002. The leasing of building will mean that CSFB has 1.8m sq ft at Canary Wharf in seven buildings. In 1999 Bovis Interiors carried out the fitting out work for CSFB at its Columbus Courtyard office. Once CSFB has signed a binding agreement on the Canada Square building the pre-let will prompt the speculative construction of HQ3, a 32-storey tower, designed by Cesar Pelli, that will provide 55,741 sq m (600,000 sq ft) of office space. - (09-11-2000)
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A seven year development/investment facility of £135m has been announced for the Marsh & McLennan development at Tower Place EC3, being carried out by Tishman Speyer Properties. The funding is to be provided by Eurohypo (Europaische Hypothekenbank der Deutschen Bank), a member of the Deutsche Bank Group. - (01-10-2000)
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A vacant seven acre site in London Docklands to the west of the new Billingsgate fish market and adjoining Canary Wharf is said to be on the market and could be acquired by Canary Wharf Group. The site is owned by the Ruler of Dubai, Sheikh Maktoum Al-Maktoum, and a number of business associates and could be worth £150m. If acquired by Canary Wharf Group the site would be an extension to the Canary Wharf complex. The consortium, which operates under the name Wetherby, a Gibralter registered firm, is thought to have planning consent for a hotel, exhibition space and offices totalling over 69,676 sq m (750,000 sq ft). - (25-09-2000)
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