SEGRO calls Prologis takeover proposal ‘inadequate, opportunistic and one-sided’
The board of SEGRO has described Prologis’s takeover proposal as ‘inadequate, opportunistic and one-sided’ after the US developer started to ramp up the pressure on the UK’s biggest REIT. Last week, Prologis tabled the possibility of launching a £12.6bn all-share offer for SEGRO, which was unanimously and unequivocally rejected by the company’s board. Earlier today, […]
Prologis secures 155,000 sq ft letting at West Midland logistics scheme
Prologis UK has let the 155,000 sq ft DC2 unit at Prologis Park Midpoint in the West Midlands to Top Cloud Logistics on a 10-year lease. The facility has 38 dock doors, an 11m clear internal height and LED lighting throughout. A key element of the transaction was the retention of the building’s existing racking […]
University puts city centre campus up for sale
The University of Nottingham has put the Castle Meadow Campus in Nottingham city centre up for sale. The 10.6-acre campus features seven Grade II listed buildings, comprising six office buildings and a central amenity block, set within a landscaped environment. The campus offers purchasers income from the buildings currently leased and provides an opportunity to […]
Research reveals widening two-tier divide in cladding remediation
Government-funded cladding remediation schemes are completing at more than double the rate of buildings covered by developer-funded projects, according to new research from The Property Institute (TPI). In 2022, 53 housebuilders signed government‑led pledges accepting responsibility for fixing life‑critical defects in 2,604 buildings they developed, but four years later, many of those schemes remain stuck in […]
Barclays purchases Canary Wharf HQ for £750m
Barclays has acquired the long-term leasehold interest in its global headquarters at One Churchill Place, Canary Wharf, from Canary Wharf Group (CWG) for £750m. The transaction secures Barclays’ control of its global HQ beyond the current lease term, which runs to 2039. The building provides more than 1m sq ft of workspace and has served […]
Cube picks up Burgess Hill warehouse
Cube RE (Cube) has acquired the freehold interest in the 20,830 sq ft Logistics House distribution warehouse on Charles Avenue in Burgess Hill for an undisclosed price. The warehouse is located on Victoria Industrial Estate and is fully let to International Logistics Group with the lease close to expiry. The purchase by Cube, on behalf […]
Apache Capital and Nuveen secure £125m SFH refinancing deal
Apache Capital and Nuveen Real Estate have agreed a two-year, £125m refinancing deal with United Overseas Bank (UOB) for the Present Made, Eddington single-family housing (SFH) rental scheme delivered in partnership with the University of Cambridge. The scheme is operated by Apache Capital’s in-house operational platform Present Made, with Nuveen acting as investment adviser, and […]
Honey submits plans for £54.7m Coalville housing scheme
Honey has submitted plans and exchanged contracts on a 14.5-acre site in Coalville, Leicestershire, on which it intends to deliver a £54.7m, 190-home development. The Ember scheme, which is located off Beveridge Lane, will comprise a mix of two-, three-, four- and five-bedroom homes and feature 14 of Honey’s house types. Ember will form part […]
Mileway secures 34,000 sq ft letting at Sheffield Business Park
Mileway has let a circa 34,000 sq ft unit at T1 Sheffield Business Park in Sheffield to Go Interiors on a long-term lease. The new facility will enable the national specialist in interior building materials to expand its operations, having previously occupied a 15,000 sq ft unit. The property, which comprises a modern detached, dual […]
Landsec sells City of London development site to AshbyCapital
Landsec has sold 55 Old Broad Street in the City of London to private equity real estate firm AshbyCapital for £63m. Landsec will act as development manager for AshbyCapital, which will fund the full cost of a new circa 300,000 sq ft office development on the site, with completion expected by 2029. The REIT will […]