news | RECRUITMENT DRIVE
Systems, has expanded its team and taken on four new recruits as it continues to go from strength to strength. The firm, which this year celebrates 25 years of Propman, their property management and accounting software, has successfully recruited for a variety of roles across the business. Nic Dodwell, Grosvenor Systems’ Managing Director, commented: “We’ve recently released Propman x4, the 14th major software update which features over 100 product enhancements and we’ve expanded our digital development team which reflects the changing needs of our Clients who are placing greater importance on accessing information on- the-go. Making sure we have the right people in place who fit the Grosvenor Systems ethos is an integral part of our approach.”
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The software company’s most recent recruitment drive has seen them recruit for positions in their Training and Support, IT and Marketing teams. Founded in 1980 and based at London Bridge, Grosvenor Systems now have over 230 Clients who use Propman as their chosen property management and accounting software.
STRENGTHENS TEAM B
uccleuch Property has announced a key new addition to the team with the appointment of Paul Jarvis as Asset Manager Director. This new role will focus on developing Buccleuch Property’s asset management capability in the UK. With nearly 25 years’ experience in the
industry, Paul will bring integral knowledge and skills to the business and will focus on running Buccleuch Property’s asset management mandate for the £100m Mountcity Group portfolio in South Yorkshire and the Midlands, as well as sourcing new opportunities. Paul joins Buccleuch as an accomplished
Asset Manager from Bellthorn Property Limited. He has a lengthy track record of providing asset and property management advice including responsibility for the strategic review of £700m of UK property assets at Kenmore Property Group. He has been a Member of the Royal Institution of Chartered Surveyors since 1995. David Peck, Managing Director of Buccleuch Property, said: “Paul joins us at an exciting time for the business. We have clear plans for developing our asset management services in 2016 and Paul’s extensive experience will be invaluable as we source new investments in England.”
COMMERCIAL PROPERTY MONTHLY 2016
&G Real Estate, one of the UK’s largest property investors, has secured three new brands for The Friary, Guildford. Zara Home, The Fragrance Shop, and sushi and hot food restaurant Kokoro have all signed up to join the shopping centre’s leading line-up of international and national brands, which already includes Zara, Superdry, River Island, Topshop and Urban Outfitters. Zara Home, part of the Inditex Group,
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will occupy a 4,550 sq.ft store on a 10- year lease, following M&G Real Estate’s letting to Zara last year which secured a 20,000 sq.ft double-level unit at the heart of the centre for the popular fashion brand. The Fragrance Shop, the UK’s largest independent fragrance retailer, will take a 720 sq.ft shop on a 10-year lease while Kokoro has also signed a 10- year lease on a 500 sq.ft food court unit. This will be Zara Home and The
Fragrance Shop’s first stores in Guildford, allowing the retailers to capitalise on the area’s growing affluent demographic and its reputation as one of the most attractive retail destinations in the South East.
Lunson Mitchenall and CBRE acted for M&G Real Estate.
BUCCLEUCH
eading property and accounting software company, Grosvenor
£400M INVESTED IN LONDON SUPER PORT
egal & General Investment Management (“LGIM”), on behalf of Legal & General Retirement (“LGR”) and the Pension Protection Fund (“PPF”), today announced a long term debt investment of £400 million in DP World’s London Gateway Port, forming part of a £580 million secured financing transaction.
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Legal & General has invested £7 billion in UK infrastructure, direct investments and urban regeneration projects, and aims to invest £15 billion. We are using long-term capital to invest in the ‘new’, providing income for pension funds and stimulating UK economic growth. Kerrigan Procter, Managing Director of
LGR, said: “The investment in the port is a win for UK infrastructure, UK growth and UK pensions. Funding the port with long- term capital will help UK businesses grow by increasing global trade; in return pension funds will derive an income to pay their pensioners.” LGR and PPF have invested £250 million and £150 million respectively, in senior debt for the project over a 30 year loan term, managed by LGIM Real Assets. Two additional investors provided a further £180 million of debt. The money will part refinance the existing project finance loan, and help to finance the port’s third berth,
NEW LETTINGS IN GUILDFORD
thereby significantly extending its current capacity. The loan was arranged by Citi, on behalf of London Gateway’s owner and developer, DP World, the fourth largest global port operator.
The UK’s first new port in over two decades, London Gateway, situated on the Thames estuary at Stanford-le-Hope, Essex, is set to add 3.5 million container TEUs (twenty-foot equivalent units) to Britain’s port, providing a natural hub for international trade. Since the start of construction, London Gateway has already created thousands of jobs in London and the South East and is helping London to regain its premier position as one of the world’s largest ports.
Situated on the doorstep of London, with unrivalled deep-water access, and road and rail links to the whole of the UK, London Gateway is a state-of-the-art, highly automated deep-sea container port.
FALCON GATE
announces that it has secured a first letting to leading marketing agency, N2O at the 59,329 sq.ft Falcon Gate office campus in Welwyn Garden City. Further asset management initiatives are planned for the property, which M7 acquired from Goldman Sachs in March 2016 as part of the Omega portfolio.
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N2O works with a range of global brands including Citroen, Unilever and Evian, and it has chosen Falcon Gate as the location for its third UK office, taking 4,610 sq.ft of space. They are due to take occupation in May 2016, bringing occupancy at Falcon Gate to 87%. The letting to N2O takes annualised rental income across the campus to £747,231 and reflects the growing momentum in the office occupier market along the A1 corridor, with international serviced office operator Regus also having recently taken 14,500 sq.ft in Building 2 on a 10 year lease. M7 has a number of additional asset management initiatives planned for the campus which will further enhance the appeal of the property to potential tenants. Plans include the reconfiguration of Building 1, which houses the only remaining vacant space at the site, into 2,500 and 5,000 sq.ft suites.
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7 Real Estate, the pan-European investor and asset manager,
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