NEWS

The latest property stories coming out of the Thames Valley

02/23/2017

Retail block acquired in £20m deal

Specialist institutional investor COREM IM has announced it has acquired a multi-let retail block in Broad Street, Reading. The building was bought from Standard Life Pooled Property Pension Fund for around £20m. The deal is the second purchase since COREM launched. The first was the acquisition of House of Fraser in Leamington Spa in August 2016. Peter Lillington, director at COREM said: “We are delighted to make our second institutional investment, this time buying a prime retail block in
02/23/2017

Workplace parking levy plan thrown out

Proposals to investigate a workplace parking levy (WPL) in Reading have been thrown out by councillors. Green Party members had asked the meeting of the full council on Tuesday, February 21 to vote for its plan to look into charging businesses around £1 a day for a parking space. The businesses could then pass that on to the consumers if they wished. The Greens said its proposal would raise £9 million a year which would have to be reinvested in sustainable transport. Putting forward the
02/22/2017

Bracknell urges third runway feedback

Bracknell Forest has joined the councils who want residents’ feedback over Heathrow expansion plans. Last October’s Government decision to support the third runway has brought about a 16-week public consultation which started on February 2. A series of consultation meetings has been set out, mostly in areas closer to the airport. The draft Airports National Policy Statement, issued by the Department for Transport sets out the policy as it apploes to major infrastructure projects. Cllr Paul
02/21/2017

New occupiers at Festival Place

A year after acquiring Festival Place in Basingstoke, AEW reports two new retailers giving the centre a vote of confidence. Next has taken a 48,000 sq ft anchor unit, which doubles the floorspace of its previous store, and sport footwear shop Skechers has taken a 2,800 sq ft unit. Next will join Debenhams and Marks & Spencer as anchor stores. AEW also plans to up the food and beverage (F&B) offer. The Vue Cinema is currently installing its own luxurious recliner seating and nearby F&B
02/21/2017

Work starts on Park Drive East at Milton Park

Work has begun on a £24 million, 110,000 sq ft development at MEPC’s Milton Park near Didcot. Park Drive East will consist of three buildings (141, 142 and 143 Park Drive), totalling 110,000 sq ft, including a 42,000 sq ft Grade A office building, and two hi-tech laboratories totalling 68,000 sq ft. The office building is expected to complete by the end of this year. The two remaining buildings are expected to complete in spring 2018. The development, designed to be adaptable for various
02/21/2017

Three more retailers sign up for The Lexicon

Retail brands Pandora, New Look and KIKO Milano have signed up to move into the Lexicon, making the centre now 70 per cent pre-let. And with just over six months remaining until the opening, a further 68,000 sq ft is in negotiations. Jewellery store Pandora has taken 1,389 sq ft on The Avenue, the centre’s premium street where it will join Beaverbrooks and Fat Face. The Avenue will link the centre’s two anchor stores, Fenwick and Marks & Spencer. Richard Poyser, retail leasing manager for The
02/21/2017

Rushmoor seeks to protect employment sites from Permitted Development

The spread of Permitted Development Rights (PDR) schemes has prompted Rushmoor Borough Council to seek to prevent further developments at some of its key employment sites. The council made an 'Article 4 direction' to start the process of withdrawing certain PDRs on land identified in its draft Local Plan, as strategic and locally important employment sites. The move is aimed at protecting buildings on those sites from being converted into residential use which, under PDR, can be done without
02/20/2017

Editorial Board part 4: "We've lost our lobbying strength"

The first meeting of Thames Valley Property’s Editorial Board gave property professionals from a range of backgrounds the chance to highlight the biggest concerns facing the area and discuss the prospects for the region’s future. This is the fourth and final report from the event which was at Green Park on January 19. You can read the first report here, the second here and the third here. The debate involved: Matthew Battle, managing director, UK Property Forums Scott Witchalls, partner, Peter

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186
187
188
189
190
191
192
193
194
195
196
197
198
199
200
201
202
203
204
205
206
207
208
209
210
211
212
213
214
215
216
217
218
219
220
221
222
223
224
225
226
227
228
229
230
231
232
233
234
235
236

Independent Property
NEWS & VIEWS

Reporting daily from the Thames Valley tvproperty.co.uk

News

Retail block acquired in £20m deal

Workplace parking levy plan thrown out

Bracknell urges third runway feedback

New occupiers at Festival Place

Work starts on Park Drive East at Milton Park

Three more retailers sign up for The Lexicon

Rushmoor seeks to protect employment sites from Permitted Development

Editorial Board part 4: "We've lost our lobbying strength"