Serviced Offices available, Stirling – Scotland

January 29, 2008

Stirling is a city and the former ancient burgh, and is at the heart of the wider Stirling council area of Scotland.

With Stirling’s development as a market town and its location as the focus of transport and communications in the region, it has developed a substantial retail sector serving a wide range of surrounding communities as well as the city itself. Primarily centered in the city centre, there are a large number of chain stores, as well as the Thistles shopping centre.

In terms of tourism, the presence of such historical monuments as Stirling Castle, the National Wallace Monument and other nearby attractions like Blair Drummond Safari Park, has played a key role in which Stirling has played in the Scottish history, as well as the scenery of the area, Stirling’s has bolstered a position as an important tourist destination in Scotland.

Public Transport to districts within the city and to the surrounding towns, like Bridge of Allan and Alloa, is almost completely provided by buses operated principally by the First Group, although there are railway links to Bridge of Allan and Dunblane. At the heart of Scotland’s Central Belt, Stirling has direct road connections to the major cities of Glasgow, via the M80 motorway, and Edinburgh, via the M9 motorway, as well as inter-city rail links from Stirling Railway Station.

The centre recently had its building work completed; to convert the stables into modern office space. The conversion, supported by Historic Scotland has retained the feel and features of the historic buildings. It is set within a mature parkland landscape and is only a short walking distance from main public transport.

With its historic context the scheme is fully equipped for modern business. Contrasting the high ceilings, integral beams and stonework, highly flexible floor plans and a variety of IT solutions available on site.

Other amenities include:

• 24 Hour access
• Car parking
• Showers
• Training centre
• Meeting rooms / Conference / Boardroom facilities
• Lift / Elevator
• Internet access
• Kitchen facility
• Disabled facilities

… And many more

To find out more about this centre or to arrange a viewing, call us today on
0800 740 8080 or alternatively email your requirement to our sales team at sales@sosplc.com.

Written by Emily · Filed Under SOS News

US rate cut triggers one-day share spurt

January 28, 2008

Property shares enjoyed one of their biggest-ever one-day gains on Tuesday after the huge interest rate cut in the US and an upbeat third-quarter trading update from Land Securities.

European property shares, as measured by the EPRA Europe Index, enjoyed their biggest daily gain for at least 10 years, rising 5.2%.

UK property shares, which jumped 6.8%, the second-highest daily rise over the same period, have now outperformed the wider UK stock market by 15.4% so far, while continental property shares have lagged behind with 3.4% outperformance.

Shares in all the large REITs were up by 5% and more. The top performer was Liberty International, whose shares jumped 9% to 1047p.

Land Securities’ were up 8% to 1620p, British Land’s rose 7% to 983p and Hammerson’s shares closed up 6% at 1123p.

The driver for the share price jumps was the Federal Reserve’s slashing of US interest rates by 75 basis points to 3.5%.

‘It sounds the bell for another round of global interest cuts,’ said Lehman Brothers analyst Mike Prew.

Property shares lost some of their Tuesday gains on Wednesday, as it emerged that the Bank of England would not cut interest rates as aggressively as the US Federal Reserve. Economists do expect the Monetary Policy Committee to vote for a quarter-point cut to 5.25% in February, however.

The other shot in the arm for property on Tuesday came from Land Securities’ trading update for the fourth quarter of last year. Although it did not contain much news and did not involve a portfolio revaluation, investors were cheered by the positive tone.

The company said it had sold £508m of investment property in the three months to 31 December 2007, at an average yield of 4.9%, which was nearly 6% above its September valuation.

JP Morgan analyst Harm Meijer said: ‘We believe Land Securities’ comments underpin our view on property markets and stocks. We reiterate our view that it is time to think contrarian and estimate 20% upside for UK property stocks.’

A day later on Wednesday Great Portland Estates reported its own quarterly update, which showed a 6.5% drop to 617p a share in teh net asset value after a 4.1% fall in the value of its properties.

By James Whitmore, Property Week, 18/01/08

Written by Emily · Filed Under Industry News

Colliers CRE defies downturn with 16% share boost

January 28, 2008

Shares in Colliers CRE leapt 16% on Wednesday after it said it had performed well in 2007 despite the downturn in the market.

In a trading statement, it said its post-tax profits for 2007 would be in line with the analyst consensus figure of £7.4m. It said turnover would be ahead of the expected figure of £110m.

This month, listed services rival Savills said in a trading statement that it was in line for a record 2007, and result were likely to exceed expectations.

This contrasts with DTZ, which revealed in December that results for the year to 31 March would be below expectations.

Colliers CRE’s shares rose 16% to 57.5p. House broker Panmure Gordon said it had reduced its price target from 129p to 103p, but held the company’s rating as a “buy”.

Colliers CRE said that, in line with the rest of the market, its investment team had suffered a downturn in performance in the fourth quarter. But the rest of the businesses had performed well.

By Property Week, 18/01/08

Written by Emily · Filed Under Industry News

Avanta’s £15m hat-trick

January 28, 2008

Serviced Office provider Avanta has bought three buildings for more than £15m. It now manages around 500,000 sq ft in 15 locations across the UK.

It bought the 51,000 sq ft Capital Place on Bath Road opposite Heathrow airport for £12.2m from Capital & Counties; a 8,800 sq ft building on Hanover Street, Edinburgh, from Fidra Investments for £1.85m; and a 9,000 sq ft building in Ancoats Urban Village, Manchester, from Kenmore Property Group.

By Property Week, 18/01/08

Written by Emily · Filed Under Industry News

Abbey in Business at Canary

January 28, 2008

Abbey Business Centres has taken 28,000 sq ft at One Canada Square in London’s Canary Wharf on a 15-year lease at an undisclosed rent for its first Docklands facility.

GVA Grimley advised Abbey;CB Richard Ellis and Jones Lang Lasalle advise Canary Wharf Group.

By Property Week, 18/01/08

Written by Emily · Filed Under London news

Staines office rents reach £31 per sq ft

January 28, 2008

Office rents in Staines are approaching the highs of seven years ago.

Rents in the Surrey town have reached £31 per sq ft- the highest since 2001 when Siebel Systems paid £31.50 per sq ft at Brixton’s Orbis development at the Causeway.

The recent high has been achieved at Australian developer Goodman’s Pine Trees business park, where it has let 21,000 sq ft to video conferencing group Tandberg. Hospital group BUPA, advised by Lambert Smith Hampton, is expected to take 34,000 sq ft at the park, also at £31 per sq ft.

Jones Lang Lasalle acted for Goodman; Tandberg was advised by Chris Thomas. Elsewhere in Staines, marketing software company Sales Force is paying around £30 per sq ft for 19,600 sq ft at McKay Securities’Lotus Park, while airport catering business Alpha Airports is taking 35,000 sq ft at Bedfont Lakes business park. It will pay £26.50 per sq ft.

Cushman & Wakefield advised Sales Force; Vail Williams and Savills acted for McKay; JLL acted for Alpha Airports.

By Estates Gazette, 26/01/08

Written by Emily · Filed Under Industry News

King Sturge strengthens with insolvency firm buy

January 28, 2008

King Sturge is set to add insolvency advice to its arsenal of services through the purchase of Birmingham-based firm Bache Treharne.

The sale of the 30-strong firm, headed by Peter Bache, is expected to complete in two weeks.

It marks an early move by one of the UK’s largest property services companies to arm itself with insolvency and receivership services as the market continues to slow in 2008.

In addition, the deal will make King Sturge the country’s largest plants and machinery valuer and auctioneer.

Bache Treharne has offices in London, Leeds and Dublin.

By Property Week, 18/01/08

Written by Emily · Filed Under Industry News

Portman rent at £95

January 28, 2008

Invista Real Estate has let the first floor of 43-45 Portman Square in London’s West End at £95/ sq ft - increasing the building’s rent by nearly £60 in five years.

It is believed the 15,000 sq ft floor has been let to rival fund manager Invesco Real Estate for a yearly rent of £1.43m.

The rental hike is bad news for fellow tenant Cushman & Wakefield, which occupies 70,000 sq ft in the building at £38.10 sq ft and faces a rent review in June. If its rent matches Invesco’s, it would end up paying more than £3.9m extra a year.

A spokesmanfor Cushman & Wakefield said the company would not be moving out of the building. Edward Charles acted for Invista.

By Property Week, 18/01/08

Written by Emily · Filed Under Industry News

Future rosy for 2008, says Balfour-Lynn

January 28, 2008

Despite credit crunch, MWB’s shares jump 4% amid ‘excellent’ trading.

Marylebone Warwick Balfour said its outlook for 2008 was ‘extremely positive’, despite the current credit crunch and uncertainty over consumer spending.

The hotel, serviced offices and retail group’s shares jumped more than 4% to 188p last Thursday after it issued an upbeat trading statement in advance of the publication of its annual results in early March.

Trading in the Malmaison hotel division, the largest of MWB’s three businesses, in 2007 had been ‘excellent’, the group said.

‘All internal EBITDA [earnings before interest, taxes, depreciation and amortisation] and cashflow targets for the year, which were significantly higher than those for the year to December 2006, were met,’ it added. ‘Occupancy for the year was maintained at 79% and the average room rate for the year was up 8% at £115. The directors are confident that trading in 2008 will be strong.’

Five new Malmaison hotels opened during the year in Liverpool, Reading, Cheltenham, Cambridge and York, increasing the total number to 22. A further four hotels in Poole, Newcastle, Edinburgh and Aberdeen are under construction or renovation and are due to open this year. In addition, an existing hotel in St Andrews in Scotland has been bought this year for conversion into a Hotel du Vin and a further three sites are in advanced stages of negotiation, including in Chester and Canterbury.

Trading at MWB Business Exchange, the company’s AIM-listed serviced office subsidiary ‘has been, and continues to be, very strong’, MWB said. ‘The year finished with continuing high occupancy levels of 90%, up from 78% at December 2006 and 88% at June 2007.’

By James Whitmore, Property Week, 18/01/08

Written by Emily · Filed Under Industry News

Serviced Offices available, Dublin – D2 area

January 25, 2008

Dublin is the largest city in Ireland and is the capital of Republic of Ireland. It is located near the midpoint of Ireland’s east coast, at the mouth of the River Liffey and at the centre of the Dublin Region. Today, it is an economic, administrative and cultural centre for the island of Ireland and has one of the fastest growing populations of any European capital city.

There is a vibrant nightlife in Dublin and it is reputedly one of the most youthful cities in Europe. Like the rest of Ireland, there are pubs, bars and restaurants right across the city centre. The area around St Stephen’s Green – especially Harcourt Street, Camden Street, Wexford Street and Leeson Street – is a centre for some of the most popular bars and eateries. Live music is popularly played on the streets and at venues throughout Dublin in general and the city has produced several rock bands of international success.

Dublin is a popular shopping spot for both Irish people and tourists. Dublin city centre has several shopping districts, including Grafton Street and Henry Street and the adjacent Stephens Green shopping centre; these shopping facilities can be found within easy walking distance of the centre.

The Dublin Suburban Rail network is a system of five rail lines serving mainly commuters in the Greater Dublin area, though some trains go even further to commuter towns such as Drogheda.

Dublin is also the main hub of the country’s road network. The M50 motorway runs around the south, west and north of the city, connecting the most important primary routes in the state that fan out from the capital to the regions.

The centre is situated in a double Georgian building dating back from the 1780’s. It has been tastefully converted into a fully serviced office facility with all the modern facilities one would require to operate an efficient business.

Centre amenities include:

• 24 Hour access
• DDI
• Meeting rooms / Boardrooms / Conference facilities
• Message taking
• Office furniture
• Posting / Franking collection
• Virtual office services
• Secretarial and administrative services
• Personalised telephone answering

… And many more

To find out more about this centre or to arrange a viewing call us today on 0800 740 8080 or alternatively you can email your requirement to info@sosplc.com.

Written by Emily · Filed Under SOS News