Latest news with #officeblock
Yahoo
11-06-2025
- Business
- Yahoo
Office block near Wiltshire village to go under hammer
An office block in a village just off the A36 near Warminster is set to go under the hammer next month. The property is on Station Road in Codford, and has been listed at a guide price of £425,000. According to the listing, the property consists of 603 square metres of floor space, and presents an open-plan office space arrangement with parking for 20 cars. (Image: Rightmove/Symonds and Sampson)READ MORE: Town's new lounge bar: opening date revealed The listing states: 'The space offers flexibility, with two staircases with category II style lighting, fitted carpets and air conditioning. Forecourt parking offers space for around 20 vehicles.' Estate agents Symonds & Sampson said it is due to go under the hammer on July 24 at 2pm in Sherbourne, Dorset, and online via livestream. The agent also adds: 'There is likely mobile network coverage inside the property and likely mobile coverage outside. 'We are not aware of any planning applications in the postcode that affect the property. The property is in flood zone one. 'The neighbours at Ashton House have a right of access over the entrance and car park. 'The septic tank may not comply with current regulations and buyers should factor the cost to replace the system into their maximum bid.'
Reuters
05-06-2025
- Business
- Reuters
Blackstone among bidders for $800 million Paris office property, sources say
LONDON, June 5 (Reuters) - Blackstone (BX.N), opens new tab is among several bidders shortlisted to buy a more than century-old office block in Paris with a price tag of 700 million euros ($800 million), a source familiar with the matter told Reuters, in what would be one of Europe's biggest post-pandemic office sales. The CityQuartier Trocadéro building is in a prime location in the 16th arrondissement near the Arc de Triomphe and was put up for sale by the owner, Germany's Union Investment, in March. Real estate investor Hines also made the cut, while Commerz Real, owned by Germany's Commerzbank ( opens new tab, also put forward a bid that was unsuccessful, separate sources said. All sources declined to be named citing the sensitivity of the process. Global office prices were crushed after the COVID-19 pandemic upended working patterns, but return-to-office mandates have started to improve the picture, with investors warming to buildings seen as trophy assets in desirable locations. Built in 1913, the 444,000 square feet Paris block also contains 57 luxury apartments, catering and cafes. It was originally owned by French bank Societe Generale before being sold to Union in 2003. Investors have submitted bids in recent days, with some coming in under the asking price and closer to 650 million euros, the first source said. The process is still live and there can be no guarantee a deal is reached. A spokesperson for Union Investment confirmed that it had shortlisted investors and said it had excluded offers below 650 million euros. It declined to comment on individual bidders. Blackstone, Hines and Commerz Real declined to comment. Property publication Green Street News first reported that bidders had been shortlisted, and that others included AXA IM, Tishman Speyer and a joint venture between Norges Bank Investment Management (NBIM) and Generali. NBIM declined to comment, while the other investors named by GSN were not immediately available for comment. The building's offices are 98% let and home to tenants including watchmaker Swatch Group, chocolatier Lindt & Sprüngli and law firm Reed Smith. Office sales in Europe last year slumped to their lowest level since 2009 and transaction levels have remained subdued this year, according to MSCI data. ($1 = 0.8755 euros)
BBC News
15-05-2025
- Business
- BBC News
Plans to replace Cambridge office block named after rebel
Designs for a new office block that would replace one named after a famous East Anglian rebel have been House, on Station Road in Cambridge, is due to be demolished after developers said the 1960s building had a weak structure and could not be honours the family of Robert Kett, who led a rebellion in 1549, and contains a prominent wall sculpture of the oak tree where the plotters new building planned for the site would mostly consist of offices but could have shops on the ground floor, the developers added. Kett House was built near the site of James Rattee and George Kett's stone carving works on Station Kett was a descendant of the 16th Century Norfolk rebel, Robert.A sandstone sculpture by Wilhelm Josef Soukop of Kett's Oak, under which Kett and his followers would meet, appears on a wall of the office block was bought in 2017 for £21.6m. According to the Local Democracy Reporting Service, the developer, Stanhope, had considered keeping and adapting the existing it said due to the tight floor-to-floor height and the relatively weak structure of the building, it would not be possible. The final design for the replacement has not been selected, but Stanhope Foundation shared some ideas at a city council briefing on Fisher, from architect Bennetts Associates, said timber would be used within the frame structure, as it would have a lower carbon impact than other building methods. The building would be set further back so wider pavements could be created and there would be more space for tree developers said they were "keen to move at pace" and hoped to submit formal plans in the late summer or early autumn. Follow Cambridgeshire news on BBC Sounds, Facebook, Instagram and X.
