Industry News | EPS London

Piccadilly property purchased by Reuben brothers for £50m

The billionaire Reuben brothers have added to their impressive West End portfolio with the purchase of 105 Piccadilly for £50 million. Acquiring the 125-year lease to this property is the latest addition to their company, MotcomEstates’ huge property empire that has also recently secured a £70 million car park in Mayfair. Notably, this car park […]

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Rates of office sharing increasing amidst growing popularity of this vibrant market

One of the latest trends in London’s commercial property market is the growth of shared working space. Established shared office space providers have flourished at a time when business accommodation is increasingly difficult to come by and offer a level of flexibility unrivalled by many renowned providers. Providers within this market are able to subdivide […]

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BBC continues move out of London with £87m sale of White City

The BBC is set to save millions after sale and sublet of its Media Village Site to the consortium of Stanhope and Mitsui Fudosan. Negotiations have taken place over the last 18 months to allow Japanese company Mitsui Fudosan and developer Stanhope to acquire the lease for the six buildings and four acres of land. […]

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London the most expensive place in the world to rent office space for third year in a row

London’s West End continues to be the most expensive area to rent office space in the world. These findings were released by Cushman & Wakefield – leading consultants in the field of commercial property. In their annual report, the consultancy noted the steady growth of the capital’s rental prices. 2014 has seen the West End […]

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Commercial property market in London close to 2007’s peak

The commercial property market in Central London has reached a high point and is now close to its last peak in 2007, prior to the financial crisis. Property consultancy, Cushman & Wakefield has released a report that marks the investment in the capital’s commercial property at a level of £20.5 billion in 2014. This is […]

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The Gherkin building sold to Brazilian businessman Joseph Safra for £726 million

The past few weeks have seen London rake in a number of high-profile transactions due to its skyline properties changing ownership. Perhaps the most notable activity was the deal which saw the Safra Group and its Brazilian billionaire owner, Joseph Safra, purchase the world famous Gherkin on Monday 10th November for £726 million. Canadian fund […]

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Property sector’s recovery spearheaded by London investment

Commercial property investment in the UK has seen a resurgence in the last year, with the IPD UK Property Index reporting returns of 3.9% in the first quarter of 2014. These impressive figures continue the positive trend of investment that the commercial property sector experienced in 2013. Notably, March 2014 has proven to be the […]

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Treasury announces ‘radical’ review of the business rates system

The business rates system in the UK is set to undergo a ‘radical’ review, according to the Treasury. The review will not affect the amount that a business is charged, however will attempt to create a “fair, efficient and effective” system, according to chief secretary of the Treasury, Danny Alexander. Alexander asserted that the review […]

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Investment in London’s commercial property hits a 6-year high

Investment in London’s commercial property in 2013 has totalled £19.9 billion and marks a six-year high for the capital city. In a recent report by property consultancy, Cushman & Wakefield, the impressive figures were revealed and indicate a 47% increase in investment over the previous year. Naturally, investment has still not turned to its pre-recession […]

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Offices revealed to be more spacious at London developments than out of the capital

A new Occupier Density Study by the British Council for Offices (BCO) has revealed that businesses can now find more spacious commercial property inside London than elsewhere in the UK. The study particularly mentions the spacious work units that can be acquired in London and the South East. The commercial properties in these areas are […]

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Chinese insurance company buys the Lloyd’s building for £260m

The Lloyd’s building has changed ownership in a £260m deal, which saw the landmark property acquired by Chinese insurance company Ping An. Lloyd’s headquarters initially opened in 1986 and was designed by Lord Rogers. German asset management fund, Commerz Real previously owned the property, which they had bought for £231m in 2005, before a deal […]

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Ropemaker Place sold by British Land for £472 in fund raising programme

British Land has completed the sale of its Ropemaker Place development for £472 million amidst plans to raise funds for gross acquisition of City of London commercial property. The group aims to accumulate £1 billion in funds in order to add to their latest purchases of retail and office properties in London. Recent activity has […]

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Google UK to move to new London headquarters at King’s Cross in £1bn deal.

Google UK have secured a vast 2.4 acres of commercial space in a £1 billion property deal that will see the tech giants relocate their headquarters to the King’s Cross area. This is one of the largest deals of its kind in the UK and has further cemented the prominence of King’s Cross in commercial […]

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