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Old October 12th, 2011, 12:22 AM   #2741
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London hotels sold for £192m

Oct 12, 2011
A Middle East investor is to buy two of London's luxury hotels for £192 million (Dh1.1 billion).

The trendy, modern properties are the Sanderson,near Oxford Street, and the St Martins Lane hotel in London's West End.

The deal follows the purchase last month of the W Hotel in Leicester Square in London by Qatar's Al Faisal Holding in a deal worth close to £200m.

Morgans Hotel Group, the operator and 50 per cent owner of the joint venture that owns the Sanderson and St Martins Lane hotels, announced the sale. Its partner in the venture is an affiliate of Walton Street Capital.

The buyer, Capital Hill Hotels, is described as a Middle Eastern investor with other global hotel holdings. The sale of the hotels is expected to be completed by the end of the year.

"The joint-venture partners will use the sales proceeds, along with cash in escrow, to retire the approximately £99.5m of outstanding mortgage debt, which is secured by the two hotels," Morgans Hotel Group said. "The joint venture partners received a £10m security deposit, which is non-refundable, except in the event of a default by the joint venture."

Jones Lang LaSalle Hotels in London confirmed it was advising on the sale. A "current lack of stock continues to drive competition for good-quality assets" in the UK capital, said Jones Lang LaSalle Hotels.

Morgans Hotel Group will continue to manage the hotels.

Investors from the region have been involved in a series of high-profile property deals in the London in the past couple of years.

London's Olympic Village was sold in a US$903m (Dh3.31bn) deal in August to Qatari Diar and the British developer Delancey, and last year, Qatar Holding bought the department store Harrods.

Jones Lang LaSalle this year predicted that sales of hotel properties around the world would increase by as much as 40 per cent to $30bn this year.
http://www.thenational.ae/business/t...-sold-for-192m
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Old October 12th, 2011, 01:19 AM   #2742
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Property owners in London have "best of both worlds"

Property owners and investors can expect the best of both worlds when it comes to investing London offices, according to real estate service provider Savills.

This is because London property, according to Mat Oakley, director of commercial research at Savills, offers security of income while also offering real prospects for growth. Despite the impressive prospects for growth, buy to rent insurance is still a must.

Mr Oakley was speaking after the release of new figures from Cushman & Wakefield which demonstrated that commercial property in the capital saw the most international investment of any global location in the year up to the third quarter of 2011.

"You have got the capital growth and the rental growth recovery. Most of the money that is coming into London is going into the London office market, which is probably one of the few western commercial property markets that is actually showing some upward rental growth at the moment," said Mr Oakley.

Cushman and Wakefield also revealed on October 5th 2011 that New York has knocked London off the top spot as the city attracting the most commercial property investment in the world in the year to the third quarter of 2011.
http://www.stride.co.uk/insurance-ne...lds/800755040/
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Old October 12th, 2011, 01:56 AM   #2743
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Croydon town centre set for new skyscrapers

Plans for a huge £350 million town centre project are set to be submitted. The complex, featuring a four-star hotel, commercial block and 55-storey office and apartment block tower is planned for Lansdowne Road in the centre of Croydon, opposite the Whitgift Centre.



Featuring a unique curved design, put forward by architect Piers Gough, the tower, developed by Guildhouse UK and Rosepride Properties Ltd, includes 25,000 metre-squared office space and 400 apartments.

Adjoined would be a 10-storey complex contained a 200 bedroom Intercontinental Hotel and a series of restaurants, cafes and bars with a widened footpath on Lansdowne Road leading to the proposed East Croydon station access bridge and the Whitgift.

The planning application is expected to be submitted to Croydon Council this week.

At a neighbouring site on Wellesley Road, plans have been re-submitted by Berkley Homes PLC to build a series buildings ranging from four storeys to 44-storeys.

The plan, at the former Randolph and Pembroke House site, inlcudes 730 flats and more than 3000 metre-squared commercial floorspace.
http://www.croydonguardian.co.uk/new..._be_submitted/
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Old October 12th, 2011, 02:26 AM   #2744
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At this rate croydon will have more talls materialising than B'ham will.
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Old October 12th, 2011, 02:59 AM   #2745
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Croydon Gateway Landmark Tower



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Old October 12th, 2011, 03:03 AM   #2746
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Lol... Croydon experiencing some massive investment. Kate Moss would be proud.
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Old October 12th, 2011, 03:36 AM   #2747
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*yawns* Somebody wake me up when they actually start building skyscrapers in Croydon.
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Old October 12th, 2011, 10:07 PM   #2748
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London River Park on Thames needs rethink, Cabe says



A floating platform on the Thames in central London needs "further thought" before it is built, a government advisory body has said.
The London River Park will run for 1km (0.6 miles) from the Millennium Bridge to the Custom House Access Bridge.

A public consultation was launched and City Hall has pledged £60m in funding.

But the design and its impact on the river and local sites must be revised, the Commission for Architecture and the Built Environment (Cabe) has said.

The platform will be 10m (33ft) wide, and in May, Mayor Boris Johnson said its "sheer beauty and design brilliance" would provide "yet another amazing and unique attraction" for London.

In its formal response to the planning application, Cabe said it supported the concept of a temporary park on the river, as this could become "a significant asset" to London in 2012.

But rather than being a park, it said the structure appeared "more akin to a pier or walkway" and called for a more impressive landmark to show off London.

'Noise pollution'
The design, with concrete seats and large trees in containers, may not be "appropriate to the character of the river", Cabe added.

It also doubted whether there would truly be "free access" to the park, given areas would be cordoned off when events took place in the pavilions.


The park is due to be considered by a committee at the City of London Corporation next month
Others objecting to the plans have included Neil Constable, the chief executive of Shakespeare's Globe Theatre nearby.

He said the idea was "quite exciting" in principle but was concerned about "noise pollution".

"We've been told up to 15,000 people will be assembling on these piers, and we do over 250 performances in our open-air theatre.

"The noise will travel across the water and ruin the enjoyment of those."

Local archaeologist Dr Fiona Haughey has also raised objections.

She feared the park would accelerate the erosion of the river's southern bank.

City of London planners are due to discuss the park next month
http://www.bbc.co.uk/news/uk-england-london-15278439
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Old October 12th, 2011, 10:09 PM   #2749
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London hotels sold to Middle East buyer for $295m



A Middle East investor is to buy two luxury London hotels in a deal worth $295m, the US owner of the properties has confirmed.

The Sanderson and St Martins Lane hotels will be sold to Capital Hill Hotels, said New York's Morgans Hotel Group (MHG), the operator and 50 percent owner of the joint venture that owns the London properties.

The buyer was described as a Middle East investor with existing global hotel holdings, in a statement on MHG’s website. The sale is expected to be completed by the end of the year, and will see MHG remain as operator of the two properties.

“The sales price for the two hotels represents a value of approximately £542,000 or $832,000, per room,” the statement said.

“The joint venture partners will use the sales proceeds, along with cash in escrow, to retire the approximately £99.5m of outstanding mortgage debt, which is secured by the two hotels.

“MHG's 50 percent portion of the net proceeds, after the repayment of debt and closing costs, is expected to be approximately $70m.”
The news comes weeks after Qatar-based investment group Al Faisal Holding paid close to £200m ($313m) to acquire the W London Hotel in Leicester Square.

The deal marked the latest in a series of investments in British assets by Qatari buyers.

The Gulf’s state’s wealth fund counts luxury London department store Harrods and stakes in Barclays, retailer J Sainsbury’s and the London Stock Exchange among its investments.

Qatari Diar, Qatar Investment Authority’s property arm, in August announced it had won a bid to buy London’s Olympic Village in a £557m in a joint deal with the UK developer Delancey.

The gas-rich emirate last month denied media reports it was close to a deal to take over the world-famous Silverstone racing circuit in the UK.
http://www.arabianbusiness.com/londo...5m-424864.html
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Old October 12th, 2011, 10:11 PM   #2750
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Grosvenor, Derwent to redevelop London office site

To convert Belgravia office to a mixed-use development

Likely to spend a combined 175-200 mln stg on project

Oct 12 (Reuters) - Property developers Grosvenor and Derwent London are jointly converting an office building in London's Belgravia district into a mixed-use scheme, comprising luxury hotel, commercial and residential elements.

The 168,000 square feet building at 1-5 Grosvenor Place, next to London's Hyde Park Corner, consists mainly of offices and has the potential to be made taller, the two companies said in a statement on Wednesday.

Grosvenor and Derwent are looking to jointly spend 175-200 million pounds ($273-$312 million) on the project, a source familiar with the project told Reuters.

The commercial aspect of a mixed use development could be either offices or retail, or both, a spokesperson for Grosvenor said of the project.

The building, which sits on a more than 1.5 acre large site, is held under long leases by Derwent, with the freehold held by Grosvenor. Subject to planning consent, the redevelopment could start in 2014, the two companies said.

Derwent London will continue its asset management role at the site with Grosvenor acting as development manager.
http://www.reuters.com/article/2011/...7LC1GM20111012
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Old October 13th, 2011, 01:43 AM   #2751
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Chargemaster, a manufacturer of electric vehicle charging points, is planning a £25m flotation in London.



On Wednesday, the company founded in 2008 by industry veteran David Martell, alongside the Transport Secretary, will unveil the UK's first nationwide network of charging points and confirm it intends to float in order to fund further expansion in the UK and Europe.

Up to 33pc of the company could be listed through an issue of new shares – valuing Chargemaster at a minimum of £75m. It is aiming to launch the IPO to the main market in the first quarter of 2012 and Liberum Capital have been appointed as advisers.

Only 1,000 electric cars have been registered in the UK so far this year. However, industry estimates are that 20,000 could be in use by the end of 2013, and 500,000 by 2020, as manufacturers such as Vauxhall, Ford and BMW launch new models.

"I can't share projections for the next few years but we believe it could be a £1bn business," Mr Martell said. "Listing would provide opportunities to acquire and expand. We feel there is a very significant upside in this business but there are no prizes for coming second. We want to be the dominant provider in the UK and Europe."

Chargemaster has so far only installed charging points on behalf of the Government, however its nationwide Polar network is privately funded. It will install 4,000 charging points across 100 towns and cities in the UK by the end of 2012, increasing the number of points in the UK from the present 1,000 to one of the largest networks in the world.

The company has struck deals with Waitrose, Sainsbury's, Little Chef and Land Securities to place charging points in their properties.
http://www.telegraph.co.uk/finance/n...25m-float.html
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Old October 13th, 2011, 05:22 AM   #2752
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First render of the Three Spires project by Herzog & De Meuron which will be next to the Shard. Expected heights around 260m, 210m, and 100m. Thanks to Skyscraper News for the pic.

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Old October 13th, 2011, 05:42 AM   #2753
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OMG!
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Old October 13th, 2011, 02:31 PM   #2754
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Originally Posted by Newcastle Guy View Post
First render of the Three Spires project by Herzog & De Meuron which will be next to the Shard. Expected heights around 260m, 210m, and 100m. Thanks to Skyscraper News for the pic.



Quote:
This night-time image is the first publicly available rendering of what could be the tallest residential project in Britain, Three Spires.

For the bearings of the view, it shows the tallest of what will be three residential towers. Situated on the westernmost part of the site, it can be easily identified thanks not only to the City of London viewable in the background to the north, but also due to Wolfson House on the far left that is part of the Guy's Hospital complex.

Developed by the Sellar Property Group who are currently leading the rising Shard, they are designed by Tate Modern architects Herzog + de Meuron as a visually complimentary piece to what will be London's first supertall tower with glistening glass facades wrapping the slender geometric shapes. They are, in effect, slivers of glass tapering sharply at their peaks.

The towers are massed to sit along part of St Thomas Street from west to east, with the tallest one believed to be about 260 metres in height in the centre of the site, followed by one of perhaps 210 metres to the west overlooking Melior Street, and the shortest one (not pictured) to the east bounded by Vinegar Yard approximately the height of Guy's Hospital.

The project has yet to be submitted for planning permission, but can still be expected to surface sooner or later despite the on-going lack of concrete news about the development.

image hosted on flickr
http://www.skyscrapernews.com/news.php?ref=2949
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Old October 13th, 2011, 03:01 PM   #2755
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67 Lombard Street Gets Underway



Construction work is beginning on the full renovation of an office building at 67 Lombard Street in the heart of the City of London.

The prime site, which is a red brick office building constructed between 1930 and 1930, was purchased in mid 2008 by Viridis Real Estate operating on behalf of an unnamed overseas investor with Viridis managing the project from purchase to completion.

The overhaul has been designed by GMW Architects who are building on the work of the original architect, A.T Scott. The scheme will see the existing pseudo Georgian façade maintained, but an overhaul of what is behind with 8,082 square metres of office space constructed along with a 278 square metre restaraunt.

One of the major challenges for the designers and developer was marrying up the retained façade with the raised floors that will accommodate the office space. As an older building, the floor-to-floor heights have a low figure of 3.85 metres, but thanks to the M&E engineers doing more with less, the majority of the office space will have a floor to ceiling height of 2.75 metres.

Above the retained façade and parapet will be two floors with glass curtain walling with horizontal louvres to enhance solar shading.

The main contractor, Balfour Beatty, is now working on site, with the development set to be finished in the middle of 2013.
http://www.skyscrapernews.com/news.php?ref=2947
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Old October 13th, 2011, 04:18 PM   #2756
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Sheppard Robson Plan 1 St Pauls Overhaul



The City of London is full of dignified buildings with stone facades and mansard roofs that hide the modernity of the office space behind their walls. This looks like being further added to by AXA Real Estate's redevelopment of a key site in the City of London, 1 St Paul's.

The scheme features the redevelopment of an existing office building led by architecture firm, Sheppard Robson. This will see the internal configuration of the office space completely overhauled to rationalise it and increase the efficiency of the building, allowing it to be used profitably as a multi-tenanted property. On the ground floor, greeting visitors to the 6,000 square metres of grade-A office space above will be a new reception.

The plant area on the roof is considered defunct, and it is with this in mind that the architect has penned designs for a new 2,000 square metre roof top restaurant that will boast sweeping views of St Paul's Cathedral and access to a new roof terrace.

Interestingly for such a building there is also a residential option for up to 1,000 square metres of prime residential space - enough for ten generously, and presumably expensive, two bedroom apartments.

The developer has yet to pursue this fully and get work underway on it but work on the rest of the scheme is now getting into swing for a finish in the first quarter of 2013.
http://www.skyscrapernews.com/news.php?ref=2941
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Old October 13th, 2011, 05:30 PM   #2757
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Originally Posted by Newcastle Guy View Post
First render of the Three Spires project by Herzog & De Meuron which will be next to the Shard. Expected heights around 260m, 210m, and 100m. Thanks to Skyscraper News for the pic.

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Old October 13th, 2011, 06:30 PM   #2758
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First Look At Three Spires

This night-time image is the first publicly available rendering of what could be the tallest residential project in Britain, Three Spires.

For the bearings of the view, it shows the tallest of what will be three residential towers. Situated on the westernmost part of the site, it can be easily identified thanks not only to the City of London viewable in the background to the north, but also due to Wolfson House on the far left that is part of the Guy's Hospital complex.

Developed by the Sellar Property Group who are currently leading the rising Shard, they are designed by Tate Modern architects Herzog + de Meuron as a visually complimentary piece to what will be London's first supertall tower with glistening glass facades wrapping the slender geometric shapes. They are, in effect, slivers of glass tapering sharply at their peaks.

The towers are massed to sit along part of St Thomas Street from west to east, with the tallest one believed to be about 260 metres in height in the centre of the site, followed by one of perhaps 210 metres to the west overlooking Melior Street, and the shortest one (not pictured) to the east bounded by Vinegar Yard approximately the height of Guy's Hospital.

The project has yet to be submitted for planning permission, but can still be expected to surface sooner or later despite the on-going lack of concrete news about the development.
http://www.skyscrapernews.com/news.php?ref=2949
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Old October 13th, 2011, 07:02 PM   #2759
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The 3 spires are great, but too close to Shard in my opinion. I'd rather see them around Strata, forming a new, E&C cluster. But that's just me...
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Old October 13th, 2011, 07:25 PM   #2760
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Quote:
Originally Posted by SO143 View Post
Are you guys being serious? I find it boring though. It expresses no high quality architecture and it's very similar to the ones in Frankfurt.

Similar colour as well, i wish this kind of building wouldn't be built in a city like London.

[IMG]http://i56.************/19ks3r.jpg[/IMG]

[IMG]http://i51.************/5wju2q.jpg[/IMG]



In Comparison to the one in London, anyway is the British capital seriously going to get this Bangkok-style building?
I loving this building! I think it looks nice and smart and will fit in well this the other buildings!
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