Lawrence County Coroner Greg Randolph said Collingsworth apparently lost control of his vehicle and hit a culvert and his car flipped and burned.Collingsworth was among six people to die in area wrecks since Monday. Orr said coke or coal haulers from the Jasper area are taking Kirby Bridge, the shortest route into Solutia, and "they're playing havoc with the road." This past week, our Decatur crew was assigned to Dallas County and my Huntsville crew is returning (Friday) from Sumter County.
A Central Conveyancing reporter who tried to get answers for Orr talked to five people in state and county offices Tuesday before being told the man to call could be reached around noon Friday.That man, state trooper Cpl. Phil White said he had seen the article.He said the posted sign on Kirby Road Bridge does not prohibit 18-wheelers.Bodley agreed saying, "Kirby Bridge is rated to carry the state legal load of 80,000 pounds gross weight for a standard 18-wheel configuration and that's why it is not posted against them.
Due to the span lengths, a loaded 18-wheeler will not adversely affect the bridge.We base all of our ratings on the structural capacity of the bridge.Bodley said that in comparison, the Means Bridge on Danville Road is posted for 18-wheelers."Means is posted 26 tons for tandem axle trucks and 30 tons for 18-wheelers," he said. They're having bigger problems in those districts than we're having here," he said.
He said the county has considered replacing Means Bridge and bringing it to full capacity.White said that his department, the Motor Carrier Safety Unit of the state troopers, welcomes calls from residents who feel that overloaded trucks might be traveling their roads.Our manpower availability dictates when we might get to it, after determining where our efforts need to be concentrated the most.White said there are only six people in two weight crews in Decatur and Huntsville and that their area of responsibility covers eight counties.
Roland will work with the team to ensure the division continually builds on its success as one of the UK's leading firms of plant and machinery Valuers and Auctioneers.Their skills will continue to be put to excellent use within the partnership and they will play key roles in moving Edward Symmons and Partners expansion plans forward.The deal brings together two managers with complementary styles and accords with BHS stated ambition of controlled business growth. Hunters will trade as Baring, Houston Saunders.
The transaction also reunites Robert Houston, founder of BHS with Richard Hunter, Hunters' senior partner as both worked together as graduate surveyors in the 1970's.The i0 Group Limited, the specialist industrial property asset manager, has expanded its ever growing team in response to continued growth in both the UK and continental Europe.Rory Finnan, previously acting an as asset manager for the Group's properties in the South West, Yorkshire, the North East and Scotland, has been appointed Head of Marketing, Sales and Lettings for i0 centres. Regardless, when 7000 London property conveyancing experts were told by a fundamental more responsible option building society that they were no more allowed to handle the bank's side of the property conveyancing methodology for its customers' home buying, a little measure of affectability may be fitting.
As the development programme expands with the successful launch of 105 million The Second Industrial Development Partnership Limited, the need for a dedicated marketing manager to raise the profile of the new developments and secure occupiers for the units has been recognised.To date there are a total of 4 i0 centres already built, 2 under construction and a further 5 sites bought recently, where construction will commence shortly.
James Allen joins The i0 Group as a surveyor in the acquisitions team and will concentrate on investment acquisitions on behalf of the recently launched £150m Industrial Trust.Nick Dawson, has also joined the acquisitions team as a surveyor finding sites and estates for acquisition and liasing closely with local agents and owners on behalf of the Industrial Trust.John Sims, Chief Executive at The i0 Group, commented: The i0 Group's ongoing UK and overseas expansion programme requires first class personnel to help us acquire, develop and market our growing branded portfolio.
Rogers Chapman with joint agents Campsie & Co, acting on behalf of Neos Networks have negotiated an under-letting of the self-contained office building at 81/82 High Street, Egham,Surrey to IT/Computer company Transware Limited at an annual rent of £70,000 equating to £257.80 per sq m (£23.95 per sq ft).The office building totals 271.68 sq m (2,923 sq ft) on ground and two upper floors and has been let on an under-lease to Transware lease until March 2014.
The first rent review will be on 18 September 2003 and every fifth year until the end of the term. There is a tenant's break at year five. There are fewer deals taking place, perhaps not helped by the summer holidays, but debt financed purchases remain attractive as property yields have been rising over the past year, whilst base rates have been falling. Retail sales growth continues to remain strong, but rents have been continuing their downward trend, but this trend seems to be slowing and the worst looks to be over.
As with the office sector rental growth has started to slow, but this sector continues to benefit by having the highest yield. The residential sector has been performing well primarily due to low base rates and mortgage rates at their lowest figure for 40 years. Whilst the sector has not been immune to the turndown in the economy as seen with slower rental growth in some of the markets, it still looks set to continue to outperform.
Gouldens acted for Pillar Property Plc (Pillar) in connection with the disposal of its long leasehold interest in Vintners Place to the Blackstone Group in consideration of approximately £107 million. Our Conveyancing specialist is ready to help you with your problems at any point of time, leaving you completely relaxed about the ongoing conveyancing process.
Railtrack's proposals represent the single most significant investment in public transport and operations at Paddington since Brunel's original station was built in the mid 19th century.The scheme includes the creation of a fifteenth platform and the lengthening of platforms currently outside the station; a newly designed entrance on London Street linking the station with Paddington Basin;Without impacting on the 1850s Brunel-designed station, Phase Two will deliver a 70,000 sq m (780,000 sq ft) flagship commercial development.
The proposals will see the re-introduction of natural light to the north of the station for the first time in 85 years.Helen Gordon, director of development at Railtrack Property comments, Our plans for Paddington complete the award-winning work we started in 1996 to deliver a station for the 21st century.The scheme reflects a key thrust of the government's sustainable development policy - high quality, high density development at major transport interchanges.A 50/50 joint venture between Teesland Group plc (Teesland) and Longford Estates Limited is to undertake a £2 million complete refurbishment of Brookmount House, Chandos Place, WC2.
In August 2001, Teesland and Longford Estates pre-let the property in its entirety to Longford Business Centres, which will take up occupancy as soon as the refurbishment is completed.Brookmount House will be Longford's ninth business centre in the UK and the fourth in London.The refurbishment, which is set to commence in early October 2001 and due to complete in March 2002, will provide the property with a state-of-the-art IT and telecommunications infrastructure and modern office space tailored for Longford Business Centre's serviced office requirements.
The property comprises 24,000 sq ft of seven floors and is exceptionally well located, within walking distance to Charing Cross tube and train stations, as well as Covent Garden underground.
Mark Jackson of Teesland commented: This refurbishment will further enhance the value of this well-placed property by creating an extremely high quality work environment.
We are delighted to have pre-let the property to such a high quality tenant and believe that Brookmount House will be a worthy addition to Longford Business Centre's portfolio.Claremont Property Investments Limited are delighted to announce the successful pre-letting of 75% of their new office development at 138 Hydepark Street in Glasgow which is now completing.
Both Hertz and Bank Austria have recognised the advantages that the location of this property provides including immediate access to both the M8 motorway and Glasgow City Centre.The remainder from other units include 150 from Guntersville, about 20 from Huntsville, 650 from Mobile, 120 from Arab and 650 from Florence, spokesman Sgt, 1st Class David Carney said. Some of those are serving in Afghanistan, he noted. The building has been carefully designed to ensure maximum cost efficiencies are obtained by tenants through the ongoing running of the plant.
We are delighted to confirm the building has been certified as having a very high BREEAM rating which is the measurement of energy and environmental efficiency. Now that the election is out of the way the really significant battle can start, according to the latest UK property report produced by Baring, Houston Saunders (BHS), a member of ING Real Estate. The report discusses the anticipated decision in respect of Euro entry and the significant implications it would have for the pricing of property.
"He's taken a lot of time out of his personal life to make sure this campaign of ours is well-funded," Bush said at a fund-raiser in Riverside, Calif. on Oct. 16. "It seems like he's doing a pretty darn good job." Enact Settlement Agents Perth will guide you throughout the process of settlement, making you feel completely stress free about your ongoing settlement process. Today she's chairwoman of the Family Readiness Group for the unit. Not many investors are buying and not many selling, which reflects the general degree of uncertainty that still prevails in all investment markets. It isn't ofien that property is self-financing and further cuts in base rates would only increase its attractiveness. The latest forecasts indicate a low point in growth of about 1.8% over the next 12 months, before building to over 3% in the third year, which is sufficiently high enough to maintain a reasonable level of occupational demand.
For the counter-cyclical investor the only sub-market left to recover is regional offices, but the retail market really needs to show some further stabilisation before it can be regarded as a recovery situation. Vacancy rates in most markets are now rising and as rental growth eases, it will be more important to have 'yield'. Our forecasts suggest that yield (as opposed to growth) will make up around 65-70% of total return over the next three years. Property yields have converged to a degree in recent years. This accounts in part for the outperformance of the industrial sector and the underperformance of retail.
Since the end of 1992 (the end of the last property recession), the gap in the initial yields of the retail and industrial sectors, has closed from 2.27% (7.73% retail - 10% industrial) to 1.28% (6.18% retail - 7.46% industrial). The gap in equated yields has also closed from 2.92% to 1.44%.Rental growth rates though have been the larger factor differentiating performance more recently. For example at one end of the scale West End office rental growth has been running at 15% pa whilst at the other end standard shops rental growth has been only 2.1% pa.
Annualised growth rates over the last quarter though show West End offices rental growth rate at 3.6% pa whilst standard shops are at 2.0% pa. With yields and rental growth broadly in alignment across the sub-sectors, portfolio performance is going to rely much more heavily on individual stock selection. The report points out that trading has become increasingly difficult - the round trip of buying and selling now costs about 7-8%, equivalent to next years expected total return. Ian Whittock, concluded Property returns are likely to reach their low point in the current cycle over the next 12 or so months, depending on how quickly rental growth stabilises.
My tips are regional offices, high yielding secondary industrials especially in the regions, and stock that is capable of being actively managed to create additional value.
Central Scotland Business Parks (CSBP), a joint venture between Teesland Group plc and Stirling and Clackmannanshire Councils, announced a transaction at Broadleys Business Park. IMD Solutions Limited, formerly ARC Europe has taken a lease of a speculatively developed building at Broadleys extending to 1,802 m sq (19,400 sq ft). IMD Solutions are taking a new full repairing and insuring lease for a period of ten years at an initial rental reflecting £4.65 per sq ft.
IMD Solutions, who manufacture mobile phone covers, have significantly expanded their operation to meet the worldwide demand for keypads, lenses and casings. Mandy Somerville of Teesland commented: The letting to ARC Europe is part of a success story connected with Broadleys Business Park. conveyancing lawyers are specialists who have practical experience in property law and are controlled by the Board for Authorized Conveyancers (CLC) in CITY NAME. Initially a start-up company of 5,000 sq ft, ARC Europe have now secured some 20,000 sq ft. Acting on behalf of Grovemoor Properties, Culverwell and Company and Berkeley; Simmons Davies have let the basement of 341 Sauchiehall Street to new bar operator Firewater (Real Music - Hard Liquor).
Following the creation of a new entranceway, the premises now extend to approx 7000 sq ft (651 sq m), and are situated in the centre of Glasgow's main bar/restaurant district. The propefty has been let on the basis of a 25 x 5 year FRI lease at a commencing rent of £75,O00 per annum. Says Lindsay Crawford, managing director, Grovemoor Properties: We are delighted to have achieved so much considering the business is less than one year old. We are now looking at further opportunities in both Edinburgh and Glasgow.
Prime rents for retail warehouse space in the UK are Euro403 sq m/year (250 sq m/year) - well ahead of Ireland's Euro260 in second place, followed by Italy, and more than double the levels in Germany (4th) and France (5th), despite the sophistication of the retail markets of these two countries and restrictive planning regimes for large-scale retail. The report covers the retail warehouse markets of 15 countries across Europe, looking at recent trends and developments as well as the outlook for each market.
However, the more mature markets are unlikely to stand still, with the entry of new players ensuring the continued evolution of the market, the report says. As well as the highest rents, the UK has the lowest prime yield for retail warehouse space in Europe, with 5.75% (as at June 2001) for the best retail park schemes. In Central and Eastern Europe, a lack of product has held back the emergence of investment markets, although this will change over time as the amount of modern retail warehouse stock increases.
However, in Sweden, Spain, Portugal, Italy and Denmark, retail warehouse provision is still much lower than it is for shopping centres. In the more mature markets, planning policies for large-scale retail are restrictive, so a greater focus will be placed on reworking existing stock, as is already happening in markets such as the UK. The UK leads the way in terms of the variety of occupiers; in the past few years, retailers specialising in fashion, health and beauty, sports goods and pet products have entered the market. Clothing and footwear retailers also feature prominently in France and Belgium, and to a lesser degree in Italy and Spain.Over the last few years, this has been led by the DIY and electrical goods retailers but other sectors are now beginning to cross borders.
Retailers in other sectors (including sports goods) have so far seen fairly limited cross-border penetration, but this is likely to change in the future as expanding retailers take advantage of the modern, purpose-built retail warehouse space coming on-stream in the emerging markets. Right when looked at the viewpoint certainly, you will induce that a phenomenal conveyancing www.enactconveyancingadelaide.com.au establishment will save a colossal package of your cash for time to come.
The Real Estate Partnerships (REPs) SIG is expected to attract a wide membership of fmance directors, lawyers and corporate real estate professionals. The public sector led the way, outsourcing the Department for Work and Pensions (formerly the DSS) portfolio with the PRIME contract in 1998, then STEPS, for the Inland Revenue and Customs Excise, in 2000. These public sector transactions have been followed ey National and BT deals, demonstrating that real estate partnerships can work in the private as well as in the public sector.
Interest in these partnerships is growing rapidly, says Michael Evans, director of Jonathan Edwards Consulting and a longstanding NACORE member. When you have discovered your licensed conveyancer attorney you ought to clarify to them your budgetary circumstance and what your exact objectives are.
So it seems to us that those involved, both suppliers and occupiers, will welcome an independent forum which provides a means to explore the potential benefits of this approach, ways in which this market can be developed and the processes simplified.
Law firm Lovells recognised this need for a forum, hosting an initial meeting of representatives of all the major players in the market in Somerset House in May 2001.
That meeting was extremely well aftended and there was a lot of enthusiasm for taking forward the initiative. Following consultation it was agreed that NACORE UK would provide the best platform for hosting this forum, says Evans, chairman of the new group.
We are setting up a series of meetings which will aim to educate, inform and offer a chance to debate key issues relating to major changes taking place in this marketplace.
The first meeting of the REPs SIG will be held on 23rd October at the Congress Centre, Great Russell Street, London WC2 and will include a presentation from City University Business School - 'Enhancing Corporate Value Through Property Re-engineering', based on research sponsored by Land Securities Trillium.
DIY retailer B&Q has opened its seventh Bristol store at Chartwell Land's Imperial Park, South Bristol, creating over two hundred and fifty new jobs. The new 13,928 sq m (150,000 sq ft) B&Q Warehouse will offer customers over 40,000 products stretching out over a mile and a half of aisles.
Chartwell Land will now be proceeding with Phase II of the project at Imperial Park which has now been granted full planning permission and will include 10,223 sq m (110,000 sq ft) of retail space, 1,859 sq m (20,000 sq ft) of (A3) restaurants and a public transport interchange.
Chartwell Land has also exchanged contracts with BigW for a 9,285 sq m (100,000 sq ft) store on the park.The application for BigW is due to be heard by Bristol Council on the 10th October. Central Scotland Business Parks (CSBP), a joint venture between Teesland Group plc (Teesland) and Stirling and Clackmannanshire Councils, has sold Bermuda House and Maxxium House to US Investors, Dalton represented by Reith Lambert for £6 million, representing a net initial yield of 8.2%.
Situated within Castle Business Park, Stirling, Bermuda House and Maxxium House are two recently constructed office buildings providing high specification accommodation within an established Business Park environment.
Bermuda House comprises 1904 sq m (20,496 sq ft) together with one hundred car parking spaces. Maxxium House comprises 1910 sq m (20,562 sq ft) and eighty car parking spaces. Local lawyers like to pass on the idea that "confined Know how" matters a considerable measure. The straightforward truth is, all fixed price conveyancing brisbane specialists would need to attempt a remarkable same careful nearby enquires and scrutinizes.
Both properties, which are of a similar design and construction, have excellent prospects for rental growth with the current Bermuda House passing rent of £253,750 per annum equating to £133,27 psm (£12.38 psf) and Maxxium House passing rent of £267,293 per annum equates to £139,94 psm (£13.00 psf).
Combining these rent figures, Bermuda House and Maxxium House provide a total rental income of £521.043 per annum. The Park itself extends to 11.33 hectares (28 acres) and is an established Central Scotland business location currently providing 17,341 sq m (186,672 sq ft) of high quality office accommodation. Councillor John Hendry of CSBP Ltd said: The monies received for this quality investment will facilitate further development within Castle Business Park, underlining the Council's commitment to continued growth and prosperity.
That leaves only the de facto members of the unit, the families, who can enjoy the safety and comforts of home, but experience the same separation anxiety and worry as their soldiers to achieving that aim. Canco will own approximately 40% of the REIT, which will represent the vast majority of Canco's assets. The latest research report from Cluttons warns of a potential oversupply situation on the South Bank if all of the developments with planning consent actually go ahead. According to the Summer 2001 South Bank Update, there is currently over three years worth of supply in the development pipeline.
The research outlines a full development programme, with over 152,728 sq m (1,643,964 sq ft) at planning application stage and more than 265,000 sq m (2,852,460 sq ft) with planning consent which is the equivalent of more than three years worth of take up at current levels. In addition, construction activity remains high with over 61,000 sq m (658,606 sq ft) currently underway. Also highlighted in the research is weakening demand, increasing availability and falling prime rental values which was predicted in the Spring 2001 Update. Top rental values now stand at 431 per sq m (40 per sq ft), a figure that Cluttons believe is more realistic than the 484 per sq m (45 per sq ft) peak achieved earlier in the year.
Total available space increased by 33% since the Spring Update and now stands at 35,920 sq m (386,643 sq ft) due to the general weakening of demand. However, take-up actually increased over the same period with over 100,000 sq m (1,076,400 sq ft) being let, although, 76% of this came from just two lettings - 40,735 sq m (438,472 sq ft) at More London, London Bridge and 36,245 sq m (390,141 sq ft) at Sampson House, 64 Hopton Street.
There is a real risk of oversupply in the next 2-3 years if all of the schemes in the development pipeline go ahead. However, we believe it is more likely that some schemes will either be postponed or abandoned to avoid such a situation.
The research report goes on to highlight the planning consent, which was granted for the proposed Jubilee Bridge scheme, which is expected to cost approximately £14m and take around 10 months to build. The covered bridge would create a shortcut from London Bridge to Cannon Street and open up the South Bank area further. In addition, Cluttons also commented on the Sellar Property Group who finally submitted a planning application for the controversial 306m (1,006 ft), 80-storey tower. Also highlighted in the research, was Chelsfield's plan to develop a 9,290 sq m (100,000 sq ft) office and retail scheme at 135 Park Street as part of an investment initiative for the area. The scheme is thought to have an end value of approximately £50m and will consolidate Chelsfield's position as one of the South Bank's bigger landlords.
The properties are freehold and total 6,943 sq m (74,602 sq ft) office space, 75 sq m (806 sq ft) storage space and 188 car parking spaces between them. The properties are fully let to various tenants, with the exception of 264 sq m (2,837 sq ft) of office space for which the vendor, the subsidiary of a prime European financial institution, has given a one year rent guarantee.
Unilever has taken a new institutional lease of 196 sq m (2,100 sq ft) at a rent of FRF 467,460 (£43,505) p.a., a rent of FRF 2,385 per sq m (£21.34) in Atria, Rueil-Malmaison.Both New Look and Next have moved into bigger premises from existing smaller units. New Look has taken 1,394 sq m (15,000 sq ft) of retail space at a rent of over £200,000 per annum, in part of what was the former C&A store.
The lettings, concluded on behalf of British Land by Colliers CRE, indicate that the confidence retailers are showing in Eastgate Shopping Centre is justified."Process which is compulsory to follow for finishing the property transaction process should use standard methods by conveyancer to complete." New Look's new store is now open and has already exceeded projected sales figures. Stephen Spendlove, letting agent for the Eastgate Shopping Centre at Colliers CRE, predicts that the new deals will lead to further interest in the centre.
This demonstrates tremendous confidence in the centre as two major multiple companies have relocated to substantially larger space, having already established the level of turnover they can achieve here. Eastgate owners, British Land, completed complex negotiations with the Arcadia Group for the surrender of five leasehold interests for a substantial reverse premium.
The first phase is a speculative development comprising two stand-alone units, each 929 sq m (10,000 sq ft). The Smart Village at New Alloa occupies a strategic position within 35 miles from both Glasgow and Edinburgh with excellent accessibility to the M9 motorway. We feel that New Alloa's suitability for flexible use and the Smart Village's superb facilities combine to create business space which will be highly competitive within the industry. Property E Conveyancing Melbourne is easy and fast process.
Keith Brown, Leader of Clackmannanshire Council commented: The Council is pleased to see progress at New Alloa's Smart Village Business Campus. A spokesman for Scottish Enterprise Forth Valley said: The availability of this type of accommodation is of critical importance to the region. We are delighted to support quality speculative developments such as this, as it adds to the reputation of the Forth Valleys' property market, together with providing job opportunities.
Called Puccino's, the outlet will sell meals and snacks, coffees, teas and wines. John Black, managing director of Puccino's, describes the concept as comfort, convenience, quality and fun. People don't want to sit on hard stools looking at chequer-plate surfaces. Wherever we can, we put cosy armchairs in our restaurants. The restaurant forms part of the ground floor of Burne-Jones House which is a seven storey former office block.
Judy and David Thorne met on a blind date shortly after he returned from Vietnam and decided on their second date they would marry some day. The steps of conveyancing process are understandable by knowledgeable conveyancers. This, against a background of historically low costs of debt and inflation, should bode well for further rental and capital growth within our portfolio. John Laing Property Business Space Limited, the Laing Property/Bank of Scotland joint venture which focus's on office development along the M3/M4 corridor, has submitted a detailed Planning Application for the last 3 buildings on its Drakes Meadow Business Park, Swindon.
The two and three storey 15,662 sq ft - 36,000 sq ft (1,455 sq m - 3,347 sq m) air-conditioned office buildings will complete the development where 2 units have already been pre-let to solicitors, Thring Townsend and Granada/Post Office company - Quadrant Catering. A third unit is also under offer. JLPBS Director, Chris Bond, says Demand for offices on Drakes Meadow remains high and our ability to offer flexible lease terms and tailor specifications to meet individual occupiers requirements continues to prove extremely popular.
Jeremy Sutton of letting agents King Sturge said Drakes Meadow is successful because it offers the benefits of an out of town environment and parking standards within walking distance of the town centre. Laing Property has pre-let a 269 sq m (2,900 sq ft) retail unit to Kentucky Fried Chicken on its Crownhill Retail Park development in Plymouth. KFC has taken a 25 year lease at £269.10 sq pm (£25 psf) on the unit which it will operate as a restaurant and drive through with dedicated parking.
As a result, there are now only 2 plots available on the park, which will be anchored by a new 11,148 sqm (120,000 sq ft) B&Q, due to open in October. Laing Property can offer bespoke A3 units from 111 sq m to 650 sq m (1,200 sq ft to 7,000 sq ft) on either a freehold or leasehold basis and further details can be obtained through the letting agents, Havills and RWB Cooper.
Laing Property Director, Nigel Turner said, We are delighted to have KFC on the park and expect to let the 2 remaining units before the end of the year.Stiles Harold Williams, on behalf of a private family trust, has let 12a Grove Road (more commonly referred to as Little Chelsea), Eastbourne to Domino's Pizza Group Limited. Conveyancing Company in the real estate field is working hard for providing quality services to the commercial area, residential area and etc. Negotiations had been taking place over a period of 14 months, during which time planning permission for a change of use was obtained and building works carried out to the property prior to Domino's proposed occupation in early October. It is very satisfying to have a long-term project come to fruition and to see this building occupied after being empty for such a long period.
This is the ninth property we have sold or let in the last 6 months in Little Chelsea and the letting to Domino's Pizza will boost the vitality of the area even further. Since first opening in the UK in 1985, Domino's now has 215 stores covering almost one-third of UK households. Property agents, Stiles Harold Williams, report that Eastbourne's local economy will soon receive a welcome boost when East Sussex Fire Brigade move their headquarters' operation from Lewes into Sussex House, Upperton Road, Eastbourne.
The 33,700 sq ft office building, previously occupied by PPP Healthcare, has been vacant since 1999 when PPP relocated to Tunbridge Wells with a loss of over 350 jobs. Two other major office occupiers, Rhone-Poulenc Rorer (RPR) and South East Water left the town in 1995 and 1998 respectively, incurring job losses and leaving three empty office buildings in Eastbourne totalling 105,000 sq ft. Last year Stiles Harold Williams successfully sold the 45,000 sq ft RPR House (now known as St Mary's House) to a developer.
SHW is currently seeking a tenant and is also instructed to find an occupier for St Mark's House (28,000 sq ft), the former South East Water building. We had a total of three offers for the freehold, two of them were from local businesses, whilst the other was the successful bid from East Sussex Fire Brigade. Interest from companies outside the area grew as a result of Brighton suffering an acute shortage of office accommodation, which has driven up the values of freehold and leasehold offices in the Brighton area, making Eastbourne good value for money.
The underbidders still have office requirements within the town and we have received strong interest in both St Mary's House and St Mark's House where leasing packages are available. With Brighton now having its own Unitary Council, and no longer being part of East Sussex County Council, Lewes was no longer considered to be the central point of the county.
This left Eastbourne as the most strategic location for East Sussex Fire Brigade and the only town with offices suitable to accommodate the Brigade's requirements.In the Asia Pacific, with some economies hard hit by the slowing external sector and some already in recession, it had been widely expected that weak demand would lead to rising vacancy rates and downward pressure on rents for offices and retail space. The lower-than-usual levels of new office constructions expected in 2001 compared to recent years had been a strong contributing factor to the resilience of the office markets in several cities Otherwise, the declines in rentals and values would most certainly have been sharper, she added.
However, should the external sector continue to deteriorate, it may be a matter of time before this sector follows suit, said Ms Wong. Demand for office space in many cities in the region weakened in the second quarter, mainly as a result of the worsening global economic slowdown.
The main exception being in Mumbai where the average vacancy rate in the CBD rose by a further 6.3 points to 17.6%, largely due to new completions in the suburban areas which drew occupiers out of the CBD. Elsewhere, the vacancy rate increased from 6.7% to 8.4% in Singapore, from 17.8% to 18.4% in Kuala Lumpur and from 4.3% to 5.3% in Sydney. In recent times, rents in many cities are being driven by changes in level of demand rather than changes in levels of supply.During deployment, the ladies field a stream of questions from families, ranging from how to get paychecks, understanding new insurance coverage and even household duties.
Focusing on Singapore, Ms Cynthia Wong said that the office rental market has clearly moved on to a new cycle with rentals expected to continue to decline for the rest of the year. each other and transact, mortgage refinancing, commercial leasing, unit entitlements, building insurance assessments, manage sydney conveyancing for commercial, residential, industrial, agricultural or farm land properties. However, because of the limited new supply in the immediate term, the downward adjustments each quarter is likely to be gradual and be within a narrow band.
The big exception was the Melbourne CBD where rents increased 9.3% as strong demand led to a reduction of the vacancy rate to 5.7%. Although overall leasing demand in several markets weakened due to the impact of the global slowdown and its negative impact on consurner sentiment, some trades remained very active in some markets remarked Ms Wong. Food & Beverage retailers were one of the most active segments in Shanghai, Manila, Singapore, Bangkok and Jakarta.
In local currency terms, in the second quarter retail, rents rose in Jakarta (+9.7%), Singapore Prime Areas (+1.7%), Auckland CBD (+1.7%) and Bangkok CBD (+0.5%). They fell in Causeway Bay in Hong Kong (-1.3%). They were broadly stable in the other cities monitored. Although prime rents in Grade A retail centers continued to receive support, the general outlook of most retailers has grown progressively worse over the quarter.
The flow of visitor arrivals to Singapore has already registered a decline of 0.8% in the second quarter. Overseas visitors have traditionally accounted for a significant proportion of sales for retailers operating in Singapore's premier shopping district along Orchard Road.
Mazda, a subsidiary of Ford Motor Company, has taken a sub-lease on 8951 ft (831 m) on an institutional sub-lease of 11 years. Both overlook Crossways Boulevard, the business park's spine route that connects the M25 junction 1a to Blue water. Jigsaw PLC - brand leader in the day nursery sector and recognized for its highly innovative, education-based care system - started a 100-place nursery on site recently. This is DBKA's first retail acquisition in Paris and is in line with the group's long term strategy.Redevelopment of these properties will start shortly to create 31,100 sq m (335,000 sq ft) of high quality office accommodation in this prime business location. The slowdown in the IT and telecommunications sectors is impacting on demand from these occupiers, but the rest of the market remains healthy.
Take-up was marginally lower in July/August at approximately 54,000 sq m. The fall in take-up has been particularly noticeable for Grade A space. The recent figures mean that a total of 273,200 sq m has been let in the West End in the first eight months of this year. Recent transactions include the 1,040 sq m letting of 6 Agar Street, WC2 to Sungard Treasury Systems.
Treasury will pay £619 per sq m (£57.50 per sq ft) for the space. A joint venture subsidiary of Ericsson has taken a significant part of the 6,040 sq m building at 105 Wigmore Street, W1 at a rent of £726.57 per sq m Several buildings are also under offer. 372 sq m has gone under offer at Cleveland House, St James's Square, SW1 at a rent of over £969 per sq m (£90 per sq ft).
The slowdown in the IT and telecommunications sectors is impacting on demand with some companies scaling down their requirements or disposing of space.soliciting conveyancers sydney have good relations with the government councils, agencies, all the real estate agents, solicitors of the market as well as the court persons. At 16 St James's Square, SW1, Boeing is reportedly taking 650 sq m of space for its UK head office. The company is to pay over £861 per sq m (£80 per sq ft). Brambles, the Australian mining company is reportedly interested in taking space at Cassini House, St James's Street, SW1 at a rent of £915 per sq m (£85 per sq ft), whilst Conoco is thought to be close to taking 4,645 sq m at a rent exceeding £645 per sq m (£62.50 per sq ft).