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London Offices – An Olympic Year?

New scheme for Fitzrovia

SE1 refurbishment pause

Hammerson eyes huge EC2 scheme

Metrovacesa pull out

Soho office consent

Midtown consent

Farringdon office application

Major pre-let for SE1

Preparation for More London building

Redevelopment opportunity in EC4

Refurbishment underway in St James'

Start date for tower

The 'Shard of Glass' is approved

Deka to sell Lloyd's building

Lib Dem concern

40 Grosvenor Place fittings sale

Two for the price of one.

Kingfisher to sell Woolworth HQ

Swiss Re gets the 'gherkin'

Home stretch for London Bridge Tower.

Standard Life raises funds for new developments

Possibly a 'one horse race' at Paddington Basin

New home for the Bank of India?

Wates City of London Properties sells four buildings

Sultan of Brunei to sell London portfolio?

Europe's tallest office planned for London Bridge

Rents rising

NB Real Estate, the property consultant, is reporting that average rents for Grade A office space in the City increased from £42.50 per sq ft in the first quarter of 2010 to £53 in the third quarter - a rise of 25%. The sharp rise in prices is attributed to a lack of new supply of office space. Supply of new space is at a two-year low. - (05-10-2010)

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CityPoint on market

CityPoint in Ropemaker Street, London, EC2, is thought to be about to go on the market with an asking price of £650m. The 34-storey 65,681 sq m (707,000 sq ft) building is owned by US developer Tishman Speyer and partners Schroders, SITQ and UBS, who acquired the property for about £520m in 2006. - (06-02-2007)

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Gherkin for sale

Swiss Re has put 30 St Mary Axe, London, EC3, otherwise known as The Gherkin, up for sale. It is thought that the iconic 40-storey building could achieve a sale price of over £550m. Swiss Re is being advised by DTZ and Eurohypo. - (18-09-2006)

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Glasnost - Online Project, Contact & Image Management

Property at the top?

The top of the property investment market has been called by agent DTZ. Joe Valente, group head of research, has commented that the peak of the commercial market had probably been reached and that the level of interest in buildings on the market has been seen to be falling recently. This accords with the general view of property cycles that prices go up and then usually go down. - (06-07-2006)

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Canary Wharf is bid target

Canary Wharf Group, the London docklands developer, is said to have been approached by “a number of parties” to take the company private. On the news shares in the company rose 46% to 263p, valuing the company at £1.54m. The company has formed an independent committee to deal with any potential bids and analyse other options. Morgan Stanley Real Estate, British Land, Land Securities, and Brascan Corporation of Canada are rumoured to be interested in buying the portfolio. In the Sunday papers price indications from prospective bidders are reported to be around 270p, at the lower end of range predicted by analysts. - (08-06-2003)

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Bidding race at St Katherine's Dock

TrizecHahn, the Toronto-based property investment company, and Rugby Estates, backed by UBS, the Swiss Bank, and Hilstone, the developer, are said to be shortlisted to compete to buy Taylor Woodrow's St Katherine's Dock development in London E1. The bidding for the 1970's development is said to be close to the asking price of £250m. The development comprises mainly residential units but includes a site with planning permission for a 16,722 sq m (180,000 sq ft) office scheme known as K2. Other losing bidders are said to include Marylebone Warwick Balfour, the property company, with JE Robert and Greycoat; Catalyst Capital with Blackstone, and Lehman Brothers, the US funds; and CIT. - (15-10-2001)

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Greycoat to win Paternoster Row site?

The site of Sheldon House at 1 Paternoster Row could be developed by Greycoat. Earlier this year the Sheldon House and Transept House sites, owned by HSBC, were put on the market at a price said to be around £25m. Greycoat is said to be the favorite to win the site from Pillar Property, Helical Bar and Development Securities. CCF Charterhouse originally planned to occupy the 9,500 sq m (102,000 sq ft) new build scheme but these plans were abandoned when the firm was taken over by HSBC and then sold to ING. - (06-08-2001)

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Pillar cash offer for Wates City

Wates City of London Properties has received a formal cash offer from Pillar Property at 141p a share, valuing the company at around £373m. The price is said to be equal to Wates City net asset value at the end of June. - (25-11-2000)

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Revised skyscraper design unveiled

A revised design for a 80-storey skyscraper at London Bridge station, by Italian architect Renzo Piano, is now being put forward by developer Irvine Sellar. The 390m (1,279 ft) tower will include 65,031 sq m (700,000 sq ft) of offices and 18,580 sq m (200,000 sq ft) of flats along with hotel and retail space. A planning application could be submitted to the London Borough of Southwark by the end of the year but is likely to be determined by the Greater London Authority. The skyscraper would not be completed before 2005 and construction costs are put at £300m. Bovis Lend Lease is the project manager. The scheme is unlikely to proceed without a major pre-let and the developer is said to be in discussion with firms including Pricewaterhouse Coopers. - (13-11-2000)

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MEPC may sell London properties

MEPC, the property company, is said to be close to completing the sale of several London properties to Benchmark for around £250m. The deal could see London overtake Tokyo as the city with the highest office prices. Benchmark is said to have an exclusivity agreement on the portfolio, which includes a 18,580 sq m (200,000 sq ft) block near Cambridge Circus, 90 Long Acre and 12 St James's Square. The Cambridge Circus building is priced at £80m and is let to BT, with about four years remaining on the lease. The property is seen as a possible refurbishment or redevelopment opportunity. The Long Acre building is partly owned by property group Asticus and is priced at £70m. 12 St James's Square, MEPC's former headquarters, is priced at £56m. - (08-10-2000)

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