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Gatehouse Bank completes £17.92m financing of UK industrial estate
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 to take on £80m Site
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: […]
Green Light for Opus North retail park
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 […]
Palmer turns around Euro fund
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 […]
Waitrose Site for Charles Street
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
CSB Report & Financial Statements for the year ended November 2014
The Group has completed a 20 year lease with Waitrose on a 52,000 sq ft supermarket developed by Opus Land.
Space shortage may hit Milton Keynes
SPACE SHORTAGE MAY HIT MILTON KEYNES Back in Milton Keynes, the largest industrial site is the 26 industrial acres at Pineham, north of the city centre. But so far industrial rents have not justified speculative new industrial buildings. Paul Davies, Bidwells industrial partner, says rents will have to rise to £6.50/sq ft from the current […]
Council moves into commercial investment
Sutton council has kicked off its move into commercial property investment as a means of stemming funding cuts with the purchase of an office complex. The council has bought the long-leasehold interest in Cantium House in Wallington, Sutton, from Palmer Capital-backed Cantium Developments for £6.5m – an 8% yield. The fully let 37,000 sq ft […]
Valad buys £23.7 trio
Valad Europe has acquired a portfolio of three UK properties for a total of £23.7m, on behalf of its Valad European Diversified Fund. The company has bought Festival Leisure Park in Blackpool from Scottish Widows Investment Partnership for £12.5m, reflecting a yield of 8.94%. The park comprises more than 95,000 sq ft of leisure space […]
Palmer Capital: delivering excellence, adding value
Palmer Capital is a UK based real estate manager of client capital, investing into real estate and operating in the UK, Northern and Central Europe, and Hong Kong.