A market ready to kick-start

Article Abstract:

Auction sales of commercial property fell by 42% in fourth qtr 1994 from same period 1993, according to Jones Lang Wootton's Auction Results Analysis System. The main reason for the poor performance is a drastic increase in the price of five-and-10 year money in first half 1994 which saw the five-year swap rate rise to 7.3% from 5.9%. However, vendors have now adjusted realisations and the market is expected to rise in 1995. despite the fact that there is a lack of quality properties available since investors are keeping property rather than disposing of it and reinvesting.

Analysis, Marketing, Real estate industry, Auctioneers

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Property industry to lobby on listed building criteria

Article Abstract:

Current UK government regulations allow the Secretary of State to take into account only the historic or architectural merits of a building when deciding whether it should be listed. This could change, as indicated in a new consultation paper which requests landlords to make their opinions on this issue known. The department of national heritage would prefer the situation to remain unchanged, but the property industry feels that listing buildings reduces portfolio values and eliminates redevelopment rights.

Laws, regulations and rules

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Newcastle move for BT

Article Abstract:

British Telecom has taken a 15-year lease on Scottish Amicable's speculative 6,433 sq mt Bridge Court office scheme in Newcastle, England. It will pay rent of around 3,145 pounds sterling per sq mt. Its existing freehold building in Newcastle has been up for sale since Sep 1995 at 5 million pounds sterling. The move is part of the company's Workstyle 2000 relocation programme.

Telecommunications, Telephone Communication, Office Buildings, Telecommunications services industry, Telecommunications industry, British Telecommunications PLC, Buildings and facilities, Office construction, Newcastle upon Tyne, England

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