The owner of Heron Plaza in London, Heron International, has sold part of the site to an investor from Singapore: UOL Group Limited. The seller has in the last 50 years developed at least 156 buildings throughout the world, and its owner, Gerald Ronson has stated that the time was right to sell this particular London site, given the international interest in it, and in London commercial property in general. 

Millionaire property investor, Christian Candy, is reported to be purchasing London’s most expensive property in Regent’s Park. 

In a somewhat unusual move for a property company, the Battersea Power Station Development Company (BPSDC) has decided to take its wares on the road.  The company will be touring the world in a ‘global launch’ with the intention of attracting prospective retailers and office tenants to London, who may not have considered a location in the UK’s capital, or who may need some persuasion. 

The strong growth in employment is having an impact on the market but it is argued that we have not yet seen the full effect of it. Employment growth is currently at or near record levels both in London and nationally. In London, employment has grown by more than 4% over the past 2 years which is contrast with the long run average of about 1%. 

Ollie Salter a graduate surveyor working at Morgan Pryce has a particular interest in sustainable development. According to Ollie, there are three key reasons that can motivate landlords, tenants and developers to increase sustainability in existing commercial property. Sustainability covers many areas such as energy, ecology, pollution, materials, waste and water – all of which are assessed by The BRE Environmental Assessment Method, which you will probably have heard of. 

Middle Eastern buyers are now accounting for half of Mayfair luxury property purchases, i.e. those worth more than £10 million, according to a report by Wetherell.  In addition, the buyers from the Middle East also play a significant part when considering Mayfair properties as a whole: they are currently purchasing 10% of all Mayfair residential property each year. 

Recent statistics by the property agent DTZ have shown that take-up of office space in London has been increasing 17% each year, with corresponding availability in ever shorter supply.  Availability of London office space is a significant 21% lower than the same time last year, and even 2% less than last month, July. Looking at a ten-year average, availability is down 31%. 

A new development named Regent Circus in Swindon is to be purchased by UK Commercial Property Trust. Contracts have now been exchanged on the transaction, with a sale price of £40.5 million. The purchaser, UKCPT, is a large British investment trust dedicated to investments in UK commercial properties. 

M&G Investments is a leading investment manager in the UK and overseas. They have been an active manager of investments for individual and institutional clients for over 80 years and now manage over £253 billion in equities, multi-asset, fixed income, real estate and cash for clients across Europe and Asia. As of today, M&G Real Estate, on behalf of its property portfolio fund has purchased Aliffe House in Aldgate, London.

A report produced by property specialists Wetherell, with a focus on Mayfair and the West End, has shown that the Middle East influence is intense in these areas. The statistics revealed that buyers from this region have been, and still are, purchasing 10% of all residential property in Mayfair year on year.