Superdrug took a 790 sq m (8,580 sq ft) unit, based on a 15 year lease at a rent of £187,000 per annum. Wilkinson’s new 2,675.6 sq m (28,800 sq ft) store – which is an additional anchor for the centre, along with Marks & Spencer, Boots and Bhs – has taken a 20 year lease at an average rent of £88.70 per sq m (£8.24 per sq ft).
With the inclusion of the British Land portfolio, IPD’s coverage of the listed Property Company sector will have reached over £11bn, with a further £2.7bn in unlisted companies. MEPC and Capital Shopping Centres – arc now members of IPD. Other major property companies which subscribe include Grantchester, Greycoat. Helical Bar and Wates City of London.
British Land’s decision, announced earlier today, represents the most significant single breakthrough in our three year programme aimed at recruiting all the major property companies to the IPD Portfolio Analysis Service. We now believe that we have achieved critical mass in our coverage of this sector and look forward to providing a service to the same exacting standard as that provided to institutional investors.
IPDs’ Portfolio Analysis Service, to which British Land has subscribed provides an accurate, consistent and comprehensive measure of returns on each portfolio in the database and ensures like for like comparisons with other ownership’s.Women in Property distinguishes itself by having a multi-discipline membership drawn from across the property industry including architecture, development, surveying, law, marketing, public sector and construction.
The organisation was set up ten years ago and is intended to bridge the gap between organisations acting for the various professional bodies and the more broadly-based women’s networks, Hundreds of events are organised each year by the nine regional branches of Women in Property, ranging from a national annual conference, cocktail parties, building and site tours, lectures on aspects of the property industry and networking events. Basically, as of this date, any strata property made out of more than 4 units will be obliged to have aproperty depreciation report.
On a national level, Women in Property has been approached by the British Council for Offices for participation in a joint project next year. Women in Property is also adopting an international perspective with a joint event planned for February with FIABCI on international tenants’ requirements.
He said: “The signs, including low inflation, an emerging economy and low unemployment, are uncannily similar. Market conditions are also ripe to kick start another boom, particularly in the Midlands, where the availability of freehold stock is currently very limited.