Shop vacancy rates fall in UK but regions vary wildly

Shop vacancy rates fall in UK but regions vary wildly

/

/

North-west bears brunt of empty shops with vacancy rate of 17.3% compared to 12.2% average with small towns performing best

Retailers in the north and south of Britain face dramatically different conditions despite a slight fall in the proportion of empty shops across the country last year, new data released shows.

Shop vacancy rates fell below 14% for the first time since July 2010 to 13.9% in December last year, according to the latest figures from the Local Data Company (LDC). That compares to 14.6% in February 2012, suggesting that an improving economy and widespread efforts to help town centres are paying off.

Continue reading…

UK commercial property market strengthening, says British Land

/

/

Britain’s second-biggest property company says there is more interest in its London office space

British Land said the UK commercial property market was strengthening with increased investment spreading from London into regional markets.

In a trading update, Britain’s second-biggest property company said there was more interest in its London office space and that retailers were looking to open new stores.

Continue reading…

Inside the Shard, floor by floor – interactive

/

/

Over the coming days the skyscraper’s owners will attempt to persuade the property industry that it is finally more than just a nice view. But even with all of the support coming from Doha for one of the country’s highest profile investments, the office complex will only be around a third full. Roll over the graphic to find out how much of each section of the building is currently occupied … Continue reading…

Tenants shun Shard leaving Europe's first vertical city up in the air

/

/

London skyline’s £1.5bn addition remains all but empty year on from opening, with flats designed to pull in super-rich unsold

Soaring 310 metres (1,016ft) high and with 72 storeys, everything about the Shard is dramatic.

The London Bridge skyscraper the capital’s newest landmark, with views stretching 40 miles and which is visible to drivers crawling around the M25 bills itself as "Europe’s first vertical city".

Continue reading…

Galleries are forced out of their historic London home

/

/

Cork Street dealers say property development is a threat to character of St James and Mayfair

London’s reputation as a romantic destination for lovers of art and style will hang in the balance this Valentine’s Day, as the deadline passes for public responses to a scheme to safeguard the look and traditions of Mayfair and St James’s against the influx of rich foreign residents.

The two grand, chiefly Georgian-built areas of the capital are a big draw for tourists and daytrippers, fanning out around Cork Street, renowned for its art galleries and salesrooms, and around Savile Row, for many years the heart of Britain’s bespoke tailoring industry.

Continue reading…

Architecture in 2014: singing bins, talking pavements and skygardens

/

/

From crime-fighting lampposts to Zaha Hadid’s Olympic pool opening for business and a rise in social housing (finally), Oliver Wainwright charts the trends that will dominate 2014

It may sound like a prediction made while still high on brandy butter, drunk with New Year optimism, but 2014 will see an increase in the volume and quality of social housing built by local authorities for the first time in decades. After a rule change that allows councils to spend housing rental income on building new homes, and a relaxation of local authority borrowing caps, up to 25,000 council homes could be built over the next five years. East London borough Newham is leading the way, with a pilot project of modular homes designed by Richard Rogers, along with opportunities for younger architects to get involved. Let’s hope we see more initiatives like Peabody’s recent competition, allowing smaller practices to bypass cumbersome EU procurement rules.

Continue reading…

Bank of England director hails shift in property bubble policy

/

/

Andrew Haldane says there is hope next property cycle will be different, and welcomes discussion on more realistic valuations

The prospect of decades of damaging property booms and busts coming to an end has been raised thanks to proactive policymakers and more realistic valuations from the real estate industry, a top Bank of England official has said.

Against the backdrop of a crash that left commercial property prices 37% below their peak, Andrew Haldane, executive director for financial stability at the Bank said there were reasons to hope the next cycle could be different.

Continue reading…