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27 August 2010
OVG delivers the Haagsche Zwaan office building to Union
Investment
OVG has delivered office development Haagsche Zwaan in The
Hague to purchaser Union Investment.
26 August 2010
Interim Results August 2010
Savills plc today announces its unaudited results for the six
months to 30 June 2010.
11 August 2010
Savills Germany secures biggest letting in Neuss and signs
tenants in Berlin and Munich
International real estate advisor Savills has successfully
advised on 2010's biggest office letting transaction to date in
Neuss. In addition it has secured t...
11 August 2010
Two tier office market set to remain in Manchester
The Manchester office market is set to continue to be split
into two tiers for the remainder of 2010. The latest Manchester
office reports that while demand r...
11 August 2010
Savills Residential Property Focus
A tipping point has been reached in the UK housing market and
short-term price falls are expected. However, as Yolande Barnes,
head of residential research at...
09 August 2010
Greenwich Peninsula's pier walk sold
Greenwich Peninsula Regeneration Ltd ("GPRL"), the joint
venture between Lend Lease (Europe) Ltd and Quintain, announces the
sale of Pier Walk to Deka Immobil...
09 August 2010
Savills rocks Bury
Following the recent opening of The Rock in Bury, Lancashire,
landlord Hammerson has retained Savills' management services at the
new landmark retail scheme.
09 August 2010
Further letting success at Brettenham House, London W1
Draco, represented by Savills and Farebrother, has let space
at Brettenham House on Lancaster Place in London, W1 to Ryan Tax
Services UK Ltd. This new lettin...
05 August 2010
Savills retains management at N1 shopping centre, Islington
following sale
Following the recent purchase by Henderson Global Investors'
German business Warburg-Henderson KAG, international real estate
advisor Savills has recently bee...
04 August 2010
Madrid: office take up rises three fold and investment moves
steadily forwards
Madrid office take up during Q210 rose three fold to 160,000
sq m compared to Q209, according to research, with H110 take up at
double the total for H109.
04 August 2010
Savills advises on BBVA sale and leaseback
International real estate advisor Savills has advised BBVA on
a sale and leaseback to a family office investor.
04 August 2010
Scottish futures trust takes space in Edinburgh
The Scottish Futures Trust, represented by Commercial, has
acquired office space at 11-15 Thistle Street in Edinburgh from
landlord Zurich Assurance.
04 August 2010
Union Investment sells 10 Gresham Street, London
Union Investment, advised by Savills, has sold 10 Gresham
Street in the City of London to a joint venture between Hammerson
and the Canada Pension Plan Invest...
02 August 2010
St Martins appoints savills for portfolio sale
The St Martins Property Corporation Ltd group has confirmed
that Savills have been appointed to handle its planned sales of
smaller properties from its portfolio.
02 August 2010
Market comment
Lucian Cook, Director of Savills Residential Research
comments on the key residential market indicators issued this week
and believes that "all point towards ...
Commercial Development Activity
UK commercial development fell for the first time in three months, reflecting sharp drop in public sector activity.
KEY FINDINGS
- Total commercial development activity declined slightly in June, following two months of continuous growth.
- Public sector activity fell at the fastest rate since January 2009, but private sector development increased for the eleventh month in a row.
- Just under 22% of commercial developers signalled a drop in overall activity in June, compared to 19% that indicated a rise.
- As a result, the Total Commercial Development Activity Index - a net balance monitoring the overall performance of the UK commercial property sector - posted -2.8% in June, down from +4.1% in May and the lowest for eleven months. The net balance on average in Q2 was +1.8%.
FUTURE EXPECTATIONS
- At +5.3% in June, down from +8.6% in May, the index measuring future expectations in the commercial development sector was the lowest for eleven months.
- The latest reading signalled only a modest degree of optimism that business activity will rise in the next three months.
- Anecdotal evidence suggested that bank lending constraints and concerns about public sector demand had weighed on confidence in June.
- By sector, developers are most upbeat about industrial/warehouse activity and least confident regarding office development.
SUMMARY OF ACTIVITY
- Commercial developers signalled lower levels of activity in four of the nine broad areas monitored by the survey .
- The sharpest reductions were registered in public sector office development and public sector new build respectively.
- Meanwhile, the fastest rises in activity were in refurbishment and industrial/warehouse development.
- The gap between the highest net balance (+9.0%) and the lowest (-30.0%) was the widest since the start of the survey in March 2003.
CONTACT INFORMATION
For further information please contactVictoria Cambridge
+44 (0) 20 7409 8940
vcambridge@savills.com
INTERNATIONAL NEWS
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