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News Stories for September  2005

  GVA Grimley City development survey reveals forecast of speculative space and prospects for prime rental growth
Less than 50% of City of London office developments in the pipeline are being built speculatively. Consequently, says GVA Grimley, pre-lettings will continue to be a prominent feature of the market for the next three years, contributing to above-average rental growth for prime space over the next five years.  30/09/2005

  GVA Grimley’s offices team hits the mark with latest performance
New fee earning figures released by GVA Grimley have shown that the Birmingham offices team outperformed all other offices teams within the firm’s UK business during the year 2004/05.  28/09/2005

  Future for business parks look rosy, says GVA Grimley
The business park is back in business in the Midlands, with vacancies falling sharply as prime rents in the region rise at three times the national rate.  But according to property experts GVA Grimley, concern is growing that in some cases demand is starting to outstrip immediate supply, as the amount of new space under construction has continued to fall quite sharply.  28/09/2005

  Balfour Beatty appointed on £60 million York College redevelopment
York College has appointed Balfour Beatty Construction Ltd to develop a new £60 million, 30,000 sq m (322,920 sq ft) facility at its Sim Balk Lane site, on the south western gateway to the city. Work has started on site and there is an anticipated completion date of mid July 2007.  27/09/2005

  Economic slowdown and oil prices will hit occupier take up, but investment remains strong, says GVA Grimley
The commercial property investment market shows continued strength with total returns remaining in the high teens. But, according to the latest Economic & Property Market Review from GVA Grimley, economic slowdown and high oil prices will lead to continued suppression of occupational demand in the commercial property sector, until 2007.  27/09/2005

  GVA Grimley completes sale of five business units in Humberside
Five business units on the South Humberside Industrial Estate at Grimsby have been sold on behalf of HSBC Property Investments by the regional office of international property advisors GVA Grimley.  21/09/2005

  New member for National Healthcare Team
International Property Advisers, GVA Grimley, have expanded their Specialist Care Sector Team in Birmingham. Rachel Hull (MA) has joined, the national Healthcare Team.  19/09/2005

  Take-up of business park space bounces back in Yorkshire
Rental levels for prime out-of-town offices in Yorkshire and the Humber were well ahead of the national average as take-up of business park space bounced back in the first half of 2005 according to the latest review from international property advisers, GVA Grimley.  16/09/2005

  Preparation work under way at long-awaited business park
After several false starts work is finally under way to prepare the site for a new 36 acre South Yorkshire business park.  12/09/2005

  Planning consent for mixed use development on former London Arena site, Isle of Dogs
Ballymore Properties Limited, advised by GVA Grimley, has gained approval for a major mixed-use redevelopment of the former London Arena site at Crossharbour within the Isle of Dogs.  11/09/2005

  Work starts to create the perfect sanctuary
Work has started on the construction of phase 5 of one of the region’s most successful small office schemes. "The Sanctuary" is the latest phase of Rokeagle’s Eden Office Park, which is already home to occupiers such as Smoby UK Ltd, Redrow Homes and Clifton Office Management.  07/09/2005

  Auction signals a rare opportunity for investors
The 17th October is a date to note for property investors and developers looking for investment opportunities in Birmingham City Centre. On this date, The Garhill Group will dispose by auction a 7,500 sq ft (700 sq m) multi-storey office building at 1 Printing House Street, immediately adjacent to the Birmingham Post & Mail premises. The property will be offered in the Jones Lang LaSalle London Auction with GVA Grimley LLP acting as joint auctioneers.  06/09/2005

  600 new student beds set for Birmingham
Optima Community Association’s plans for a new 18-storey student housing block less than a mile from Birmingham City Centre are one step closer to reality following the sale of the 0.8 acre site on the Bristol Road.  06/09/2005

  UEF Automotive - Valuation and Disposal
Valuing an era - GVA Grimley provide advice on automotive property and plant & machinery  01/09/2005

  The sale of Faycroft & Labernums
It is only natural that people like to hear about how quickly a sale has been completed or how easy it was to transact. So what about when things don't go so well.....  01/09/2005

  Four Seasons continues growth with acquisition of high quality Gladman Carehomes
Four Seasons Health Care, the major independent sector owner and operator of care homes in the UK, has today completed the acquisition of three high quality homes from family-owned construction company, Gladman Care Homes Limited which were offered for sale through GVA Grimley.  01/09/2005

  80 care beds saved in Malvern
Following the closure St Briavels and Woodgate in Malvern with a loss of over 60 care beds, corporate provider Minster Care has secured the future of two care homes in the town.  01/09/2005




For further information on these news items or if you have a press enquiry, please contact Edward Dewar, Public Relations Manager on the following Direct Dial: 020 7911 2664 Email: edward.dewar@gvagrimley.co.uk National Number: 08449 02 03 04 Fax: 020 7911 2560

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