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Palmer Capital and Opus Land snap up Brum office
Palmer Capital and Opus Land have completed the acquisition of 54 Hagley Road in the Edgbaston area of Birmingham from Westbrook Partners for circa £23m, as investors continue to favour the Midlands city, CoStar News can reveal. CoStar News understands that the duo has been joined in the development partnership by a Middle Eastern investor, […]
Bristol Investment: Office market out of stock
When Skanska put its 61,000 sq ft, brand new, 66 Queen Square office building on the market late last year it was inevitable that it would draw attention from the wealth of money looking to buy in the UK’s regional cities. Blue-chip accountancy firm KPMG has prelet 52,000 sq ft in the building for a record rent for […]
Harwell: Cracking the DNA of a science campus
For decades, this pocket of Oxfordshire countryside operated under the radar. But with a little help from property experts, Harwell Campus is stepping out of the shadows. On the way out of his office, Angus Horner pokes his head through a door belonging to another company. Just visible in the background is a courtyard that […]
AEW UK REIT makes first acquisition
AEW UK REIT has made its first acquisition, buying a business park near Oxford for £8.2m. The new listed property company was admitted to trading on the London Stock Exchange last month after raising £100.5m. The acquisition of Eastpoint Business Park, which comprises five self-contained office buildings totalling 75,000 sq ft, reflected a yield of […]
UK Regional Development – the experts have their say
Savills brings together experts from the property industry to discover what the new political landscape means for the regions. The unexpected general election result was a major talking point at Property Week’s regional development round table, held just ten days after the result of the poll was revealed. The participants met at sponsor Savills’ offices […]
Industry breathes sigh of relief
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 […]
A Voyage of Discovery in Kent
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 […]
L&G Grafts £100m Cambridge Deal
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
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 finances Palmer JV
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 […]