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Cushman & Wakefield

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Planning consent

Southbank re-design

Mayfair refurbishment plan

Southbank space revamp

Tower deal in EC2

City scheme likely

Midtown scheme deal

Nexus Place deal

Midtown scheme to start

Major Docklands deal

Midtown scheme consent

Soho scheme underway

Fetter Lane office HQ application

City scheme bought for HQ

Completion scheduled for WC2 scheme

Mayfair office start

SE1 redevelopment plan

Westminster Place plans approved

LandSec refurbishment

Central St Giles starts

2008 completion for W1 scheme

Major letting for new Midtown building

Start date for Holborn scheme

Holborn scheme scheduled for 2007

Land Securities reveal plan for Aldersgate Street

250 Bishopsgate sold

Completion dates for Hammerson schemes.

MWB's Old Bailey plea

Major scheme launch

Legal & General is launching its 500,000 sq ft Renzo Piano-designed Central St Giles office scheme in London, WC2, at MIPIM 2010. The scheme includes 400,000 sq ft of offices, with large office floors of 43,000 sq ft, plus 109 apartments and retail. Letting agents are Jones Lang LaSalle and Cushman & Wakefield. - (16-03-2010)

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Green light for Shard

Sellar Property is likely to start construction of the Shard tower in London, SE1 later in 2008, after a finance package was agreed with Qatari-backed consortium - the Qatari Islamic Investment bank QInvest, Qatar National Bank and Qatari Islamic Bank. Sellar will remain the developer for completion of Shard of Glass tower and 55,740 sq m (600,000 sq ft) New London Bridge House in 2011. The schemes were designed by Renzo Piano. Cushman & Wakefield advised on planning, and Mace is project manager. - (01-02-2008)

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Hedge funds boost take up

Take up by financial services groups, including hedge funds and banks, has risen from 21% of total take up in 2004 to 37% over the last year according to research by Cushman & Wakefield. The research has also identified the impact of the Government's Lyons Review which has effectively put a moratorium on public sector deals. In the West End the public sector share of take up dropped from 32% in 2004 to just 9% over the last year. In contrast demand from hedge funds has helped push the financial services sector share of take up in the West End up from 17% to 32% over the same period. David Hume at Cushman & Wakefield has said that the figures show an "extremely healthy" market. - (06-07-2006)

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Work starts on 71 Lombard Street.

Work has now gotten underway on the redevelopment of 71 Lombard Street, London EC3. The building is being renovated by IVG Asticus, which is acting as construction manager and appointed sub contractors for the building work, and should be ready to occupy during early 2007. When completed, the building will provide approximately 12,000 sq m (129,168 sq ft) of offices on floors 1-8 and 3,716 sq m (40,000 sq ft) of retail on the ground and mezzanine floors as well in the basement. The letting agents for the offices are DTZ and Savills and DTZ and Cushman are the agents for the retail. - (08-03-2005)

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Latest markets views

The latest report from King Sturge sees no significant rental growth in the City of London until 2006 and indicates tenants are now getting up to three years rent free periods on long leases. Tenants are paying around £45 per sq ft in the City and £90 per sq ft in the prime areas of the West End (between Bond Street and Piccadilly). The City still has more than double the vacant office space of the West End making it a buyers market. Cushman & Wakefield Healey & Baker has estimated vacant office space at 18m sq ft in the City of London, making the vacancy rate about 13%. In the West End the vacancy rate is put at about 8%, with 7.4m sq ft of office space vacant. - (13-01-2005)

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