Your Content Goes Here The 56,000 sq ft office building at 5-10 Great Tower Street has been bought by real estate group Dominus for a reputed sum close to £25 million, against Cushman Wakefield’s guide price of £15 million. The sale comes as the City of London has indicated it may relax the Square Mile's strict planning requirements, that protect existing offices, to encourage alternative uses for secondary buildings. Dominus launched in 2011 and quickly built a hotels portfolio across the UK. It has more recently expanded into residential, student homes and mixed-use development. It is understood that plans for this building is for redevelopment as a hotel. Has this price achieved been influenced to any extent by the City of London’s recently indicated plans and the content of its “The Future of the Office” 2023 Arup Report? Probably the most significant recommendation in the Arup report is the introduction of a "fast track" [...]

Manchester and Bristol have been flagged as the UK’s commercial property hotspots over the next decade as investors seek to achieve better returns than the traditional, most sought after, London markets offer. CBRE has picked Manchester and Bristol as the standout locations for commercial property investment over the next ten years.  This has been based on the analysis of the expected economic drivers, such as income trends and socio-demographic predictions, across UK towns and cities.  Other factors taken into consideration have been supply pipelines, universities and housing affordability. Both Manchester and Bristol rank among the cities with the highest growth potential in various sectors including office, retail, student accommodation, build-to-rent and senior living.  Manchester has thriving retail and tourism industries and boasts one of Europe’s largest student populations. Whilst London has been the UK’s go to destination for investors putting money into new offices, shops and student accommodation, CBRE say investors are now wanting to see “what life outside [...]