News and press
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Endurance Land and Aberdeen Asset Management (AAM) have completed the development of a new hotel development at 24-26 Minories, London EC3. The scheme is the firstpurpose built Motel One scheme to open in England.
GE Capital Real Estate and Endurance Land have sold the freehold interest in The Lever Building, 85 Clerkenwell Road, London EC1 to Amsprop for £31,600,000 reflecting a net initial yield of 4.04%.
Scottish Widows Investment Partnership Property Trust and Endurance Land have lodged plans for a circa 100,000 sq ft office refurbishment at the heart of a circa 340,000 sq ft business cluster that is set to reshape Midtown’s Chancery Lane, CoStar News can reveal.
Archaeologists were in a high state of excitement over the find, an extremely rare example of Romano-British classical art. Made of Cotswold limestone and dating from the late 1st or 2nd century AD, the sculpture was found six weeks ago, encased in mud at the bottom of a ditch beside a Roman road near Aldgate station in the City of London.
Endurance Land has been appointed by Scottish Widows Investment Partnership (SWIP) as the Strategic Development Partner at Halsbury House, located on Chancery Lane. The prominent property is situated in the heart of mid town and is directly next door to the current Derwent London scheme at 40 Chancery Lane.
Traditionally, Farringdon was regarded as a fringe London market, off the radar for many institutions. But as the capital’s infrastructure network is revamped, developers are taking note. The area looks set to be a major beneficiary of London’s transformed transport network, being the point at which the London Underground, the £16bn Crossrail system and the upgraded Thameslink overland rail network will meet.
The area on way to achieving rental highs of 2007. Clerkenwell reached a rental zenith four years ago when DSA Engineering paid £45/sq ft for 3,500 sq ft at 77-79 Farringdon Road. It seemed that the area had come of age.
Funds and property companies bought from private owners, but then rents started to slide back to the mid-£30s/sq ft when the downturn began. It is time to test the traditional Clerkenwell market again. Earlier this week, LaSalle Investment Management achieved practical completion on 2 Pear Tree Court, a refurbished warehouse just off Farringdon Road, north of Clerkenwell Road.