Charter services

Article Abstract:

The British Airport Authority (BAA) has introduced an innovative charter of rights called the Property Challenge, which includes short-term leasing agreements and detailed pledges concerning all aspects of building services. BAA is the major airport operator at Heathrow, England, which is gaining in popularity as a location for office buildings. Speculative development is restricted due to the reduced amount of available land but some speculative refurbishment projects are in progress. Phase 1 of BAA's World Business Centre is due to be completed by May 1997.

Subdividers and developers, not elsewhere classified, Office & Commercial Developers, United Kingdom, Commercial developers, United Kingdom. British Airports Authority

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A healthy return

Article Abstract:

Investment fund Hermes is looking to expand its provincial office portfolio, and is assessing cities including Bristol and Manchester. It is particularly looking at buildings over 1,858 sq mt. At present, offices account for 35% of its portfolio, with industrial accommodation taking 20% and retail accounting for the rest. It is not willing to become involved in speculative development, and does not believe that this policy will change in the foreseeable future.

Management, Real estate industry, Hermes Ltd.

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Up, up and away

Article Abstract:

Property developer TBI PLC is hoping that its acquisition of Cardiff International Airport will act as an incentive to add further airports to its portfolio. The company plans to develop the airport and has entered a deal with the Welsh Development Authority to exploit the airport's commercial potential by adding two new hangars, warehousing, a cold store and food manufacturing units.

Industrial Nonbuilding Structure Construction, Airports Construction, Buildings and facilities, Cardiff, Wales, Airport construction, TBI PLC

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