News – Deals – Market
CoStar in Talks to Pay $3B for Murdoch’s Online Real Estate Business
CoStar Group is reportedly in talks for a potential $3B transaction with Rupert Murdoch's News Corp. in CoStar's latest attempt to expand its residential platform through acquisitions. The two firms are discussing a deal for Move Inc., the online real estate business that owns several domains, including Realtor.com, Bloomberg reported Tuesday. News Corp. confirmed negotiations in a filing with [...]
Working from Home Exposed
One of the most compelling claims about working from home — that it is more productive than working from the office — has been challenged by new data from the UK's official statistics body. The UK’s Office for National Statistics has had a second look at the productivity data for the coronavirus pandemic of 2020 and [...]
JTRE’s First London Office Fully Let after Hat-Trick of Deals
The 68,000-Square-Foot Office Is Part of Larger Southbank Complex with Two Residential Towers JTRE London, the UK branch of European developer JTRE, has fully let its One Triptych Place office on London's Southbank after three companies took space. An undisclosed pharmaceuticals company, understood to be one of the largest in [...]
Ocado Joins Tenants Lining Up for TOG’s Pioneering Timber Tower
17.8-Metre Tower in Shoreditch Has Space for 506 Desks and Is London's Tallest Timber Building TOG, the flexible workspace provider owned by Blackstone and Brockton Everlast, has opened central London's tallest mass-timber tower in Shoreditch, with online grocery retailer Ocado already in situ. The Black & White Building, which is [...]
WeWork To Cut Global Staff Base
Coworking Group Is Slashing 300 Jobs WeWork, the global flexible space provider, is cutting staff globally. The New York-based company said in a statement today (19 January) ahead of its upcoming earnings call that it plans to axe about 300 roles globally to cut costs as high inflation weighs on [...]
Darin Partners Buys Plum London St James’s Office From Abrdn
Group Says £62.5 Million Price is a 25% Discount to Asking Price in June Darin Partners has bought 6 Duke Street, a multilet office and gallery in London's St James's for £62.5 million or a 4.27% net initial yield. In a LinkedIn post Darin, an investor on behalf of global private [...]
Former WeWork Europe MD’s New Flex Workspace Group Takes Second London Location
Deal Signed With Israeli Entrepreneur Hagag-Gaya to Operate Holborn Offices Flexible workspace group InfinitSpace has signed for a second London location, taking 24,000 square feet of offices at Kingsbourne House in Holborn, CoStar News can reveal. The company was founded by Wybo Wijnbergen, the former European managing director of US coworking group [...]
GPE Reports Strong Leasing Continuing Into 2023
London Developer Says Offices and Retail Developments Have Been Letting Up Strongly GPE, the central London focused developer and investor, said strong leasing had continued into 2023 as it published an update for the quarter to 31 December 2022. Toby Courtauld, chief executive, said a strong quarter has seen it [...]
TikTok Signs for Major London Office Prelet
Chinese Social Media Giant Taking 140,000 Square Feet at Topland and Beltane Building Topland Group and Beltane Asset Management have secured social media platform TikTok Information Technologies for a major London office prelet at their Verdant development in Farringdon. Comprising 140,000 square feet of offices, the scheme is in the heart of [...]
Native Land Plugs Carbon Trust into Bankside Yards Offices
Climate Consultancy Moving Global HQ to Arbor Climate consultancy the Carbon Trust is moving its global headquarters to Arbor at Bankside Yards, part of Native Land’s 1.4 million-square-foot riverside mixed-use development. Native Land has exchanged contracts with the Carbon Trust for 13,800 square feet of offices on a 10-year lease [...]
Concord Has Lift Off With West End Offices
1912-Built Block off Oxford Street Offers Redevelopment Opportunity Royal London Asset Management has sold 117-123 Great Portland Street, London W1, to real estate investor Concord London Developments for £19.15 million. The prominent corner building, which spans around 14,700 square feet, was originally developed in 1912 and had been owned by Royal London for [...]
Derwent London Sells £54 Million Farringdon Offices
Developer Is Exiting Smaller London Buildings With Fewer Repositioning Opportunities Derwent London, the listed London focused developer and investor, has exchanged to sell its 63,170-square-foot freehold interest in 19 Charterhouse Street EC1 in London for £54 million. The purchaser was a family office advised by Morgan Capital and BNF Capital. The building, [...]