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The property industry has reacted to the election result with a sigh of relief and yet trepidation at what it could mean in the long run. The stability of the new government is a short-term boon for the industry.  As Alex Price, chief executive of Palmer Capital, said: “The very real prospect of a second […]

What connects Brad Pitt’s blockbuster zombie movie World War Z, a snake venom expert and a global pharmaceutical giant? The somewhat surprising answer is Discovery Park in Sandwich, Kent. The science park was purchased by co-owners Trevor Cartner, Chris Musgrave and Ray Palmer in 2012, after the then owner-occupier Pfizer decided to sell and vacate […]

Legal & General, in partnership with Wrenbridge, is under offer to buy the Grafton Centre in Cambridge from M&G for around £100m – a 5.5% yield. The joint venture has secured exclusivity on the deal ahead of rival UK institutions including Rockspring, Orchard Street and Hermes. The 500,000 sq ft mall also attracted interest from […]

Charles Street Buildings Group hit the headlines earlier this month for striking a pre-sale deal with Opus Land for a 52,000 sq ft Waitrose store in Worcester. The £20m pre-funding and purchase will see a new store open in spring next year. Prelet to Waitrose at a rent of more than £940,000pa, a 20-year lease […]

Gatehouse Bank has financed the first investment made by the joint venture between Palmer Capital and Saudi fund SEDCO Capital. The £17.92m of finance was provided to fund the acquisition of the Blakelands Industrial Estate in Milton Keynes. The Sharia-compliant specialists provided a senior debt facility at a 63.5% LTV based on the acquisition price […]

Gatehouse Bank, the London-based investment bank specialising in Shariah-compliant products and services, has completed a £17.92m of senior financing following the recent acquisition of a UK industrial estate by Saudi Arabia’s SEDCO Capital. The funding supports the acquisition of Blakelands Industrial Estate, a well-established and multi-let industrial estate in Milton Keynes. Palmer Capital is acting […]

Opus North is in advanced talks with McAleer & Rushe to take forward one of Leeds’s largest development sites, the £80m City Square House, which has been dormant for more than 10 years. McLaren Property snapped up a site close to York’s two universities for £4m, where it plans a 326-bed student housing scheme. Author: EGi Link: […]

Opus North has been granted planning permission to develop a vacant four-acre site in Armley, Yorkshire, into a retail park. The site previously housed a factory occupied by manufacturer DENSO Marston. Construction of the £8.5m scheme will start this summer and the retail park is scheduled to open in spring 2016. Tenants already signed up […]

FINANCE: Palmer Capital has turned around its Emerging Europe Property Fund, converting a €133,000 (£95,906) loss in 2013 to a profit of €1.12m in 2014. The fund, originally part of the 2012 takeover of Middle Europe Investments, divested itself of a number of underperforming assets, reduced costs by 41% and cut loan to value ratios […]

Charles Street Buildings Group has forward-purchased a 52,000 sq ft Waitrose development on London Road in Worcester, West Midlands, from Opus Land for £20m – a 4.4% yield. Waitrose has prelet the scheme on a 20-year lease at £940,000 pa. Colliers International acted for Opus; Charles Street Buildings was unrepresented. Author: EGi Link: http://www.egi.co.uk/news/deals-april-11-2015/?keyword=waitrosesiteforcharlesstreet