Land Securities snubs DSS sale

Article Abstract:

The UK government is selling over 700 office buildings owned by the Department of Social Security (DSS). This is the biggest real estate sale in the UK and has been hampered by the withdrawal of Land Securities from bidding. The sale is at the core of the government's private finance initiative. The government plans to lease the buildings after they have been sold, and there are also surplus offices. These tend not to be prime real estate, and the bidders will have to be large companies which may mean a foreign purchaser.

Privatization, Privatization (Business), Land Securities Group PLC

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Argent bets on money in speculation

Article Abstract:

Argent will invest in an office development in Birmingham, England. The 350 million pounds sterling projectis the largest speculative investment in the UK real estate industry for the five years to Feb 1996. Larger developers are still wary of big investments following problems in the real estate industry in the 1990s. Financial backing is needed for such investments and banks became wary of funding real estate developments after problems developed following large loans made in the late 1980s.

Commercial and Institutional Building Construction, Commercial Buildings, Nonresidential construction, not elsewhere classified, Commercial construction, Argent Corp.

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Gold mine on the edge of town

Article Abstract:

The value of sites with plans approved for out-of-town shopping centers has increased following a decision by the UK government to limit development on such sites. The government is concerned about the impact of such sites on UK city centers. Shoppers like such sites where car parking is easy. Few retailers want to increase sales space within cities, and most seek to develop out-of-town sites. This trend also affects out-of-town warehousing.

Shopping centers

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