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of services, principally targeting the industrial and logistics sector in the Liverpool & Manchester City Regions. One of the most experienced Commercial agents in the Region,


O’Keefe began his career in Liverpool based Property Company Smith Nicolas before posts at regeneration specialist Enterprise Plc (London Workspace), CBRE and latterly since 2003 as Director of Industrial & Logistics at Cushman & Wakefield (DTZ) heading the North West Team. He has enjoyed

Tony O’Keefe

an enviable track record of success in the region and his

customer base includes occupiers, landlords, landowners & developers including MCR, The Gap Group and Barnfield Construction. O’Keefe Comments: Against a backdrop of improving

confidence I felt conditions were right to launch this new venture. LM6 are located at the heart of the Industrial market on the East Lancashire Rd affording us the ability to effectively service our core markets of Liverpool, Manchester and locations along the M6. These are exciting times for the wider Region and I am looking forward to contributing to its future success.


will provide SEGRO with access to a portfolio of big box logistics warehouse development sites in the South East and Midlands. Roxhill is a highly respected logistics developer that SEGRO knows well, having established a successful joint venture with it in 2013 at the Rugby Gateway site. Roxhill Management Rugby Limited (‘RMRL’) will act as development manager to the new partnership and will work exclusively with SEGRO once Roxhill has completed a number of existing development projects with other partners. The sites subject to the transaction are


at various stages of the planning process and the terms of the transaction allow SEGRO to phase its investment. An initial investment, the majority of which is deferred, will be payable in consideration for a 50 per cent share of Roxhill's interests in options over the sites. The deferred payment is due on each site as and when planning permission is granted, at which point SEGRO has the right to buy Roxhill's remaining interests in the sites. Under the terms of the agreement, SEGRO will fund planning fees and development management costs.


EGRO plc and Roxhill Development Group have created a partnership which

and sold £4.2 billion of real estate in 2015, taking the total level of transactions to over £11 billion over the past three years. The 2015 total included £2.6 billion of new acquisitions. Notable UK deals included the


acquisitions of Bloomberg Place in London and Bedfont Lakes Office Park near Heathrow Airport, along with a framework deal signed with Crest Nicholson, the first agreement of its kind between an institutional investor and a housebuilder that will create a meaningful increase in housing output. Over the course of the year M&G Real Estate also made over £500 million of investment into the Northern Powerhouse cities. Chief Executive Alex Jeffrey explains:

“In the UK in 2015 we were again one of the most active participants, being involved in 5% of all deal flow. This is a testament to our team which has built a reputation for origination and reliable execution. Our ability to participate in the full spectrum of real estate means we are well placed to find the best relative value opportunities in line with client needs.”


ommercial Property agent Tony O’Keefe, has launched a new Industrial Agency Practice in Merseyside. LM6, provides a range


he lack of supply in the South Coast office market remains critical and take-up is suffering as a consequence, reports

Lambert Smith Hampton in its annual South Coast office market briefing. It is expected that availability will fall to less than 1 million sq.ft by the end of 2016. Highlighting a lack of supply and

Andy Hodgkinson

improving demand, notable office buildings along the M27 corridor that had been vacant for some time are now fully let. These include Forum 1 and Spectrum – both on Solent Business Park, Spinnaker House in Fareham and Pavilion in Hedge End – almost all of this space has been let within the last 12

months. At the Eastern end of the corridor, significant buildings such as Langstone Technology Park have over 90% occupancy, there is very little supply in Portsmouth city centre and 1000 Lakeside is, in effect, fully let. A decline in enquiries was seen during the second half of

2015, and in particular, in Q4. This is likely to have been influenced in part by global economic factors and also the continued fall in supply, with opportunities for businesses to relocate being constrained, prompting occupiers to renew leases within their current buildings. We anticipate a possible fall in take-up in 2016 as a result. On a more positive note, the first signs of speculative development are emerging and rents are expected to continue their upward trajectory. Andrew Hodgkinson, director of office agency for Lambert

Smith Hampton's Southampton office, comments: "The outlook for 2016 is positive, with the IMF forecasting 2.2% economic growth for the UK. Whilst enquiry levels dropped towards the end of 2015, the average transaction size actually increased.


&G Real Estate, one of the UK’s largest property investors, bought



egal & General’s Real Assets platform announces that it has secured almost £4

billion of property and infrastructure deals and committed to significant UK urban regeneration schemes with a value of over £1.6 billion in 2015, once again making it one of the most active investors in the UK’s built environment. In January 2015, Legal & General’s

direct investment capabilities in property and infrastructure were brought together as a single business for the very first time, allowing the team to capitalise on cross- sector synergies and leverage its sector specialist in-house expertise. This has resulted in another stellar year for the investment management platform, marked out in particular by its ability to attract new sources of capital and be in the vanguard with emerging sectors. In 2015 Legal & General committed to

significant UK urban regeneration schemes with a value of over £1.6 billion, executing a number of very large and complex deals in an exceptionally quick timeframe. Working closely with the government’s Regeneration Investment Organisation (RIO), notable deals included MediaCityUK in Salford, Thorpe Park in Leeds and Central Square in Cardiff.


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