This Week's London Deal Sheet

Wandsworth Council instituted a policy to protect its pubs from redevelopment. The southwest London neighbourhood told owners of 120 of its taverns that they will need planning permission to convert them into flats or shops.

The new planning guidance recognizes the historic, architectural and community value of Wandsworth pubs, which have been closing at a rapid rate due to regeneration projects and the spread of mini-supermarkets.

EXECS

Colliers International appointed Simone Marshall as associate director of its healthcare team.

LEASES

Swedish footwear and accessories brand Axel Arigato signed a lease for its global flagship store at 19-23  Broadwick St in Soho, in a building owned by Shaftesbury.

***

Sotheby’s International Realty opened a new office in Belgravia. The location at 77-79 Ebury St will serve as the property company’s London headquarters. 

***

Homesense signed a lease for 12k SF at St. John’s Retail Park in Bedford for £250k per annum. The landlord is Schroder REIT Limited.

***

Audit and tax firm RSM will be the anchor tenant at Chester’s multimillion-pound City Place office development. RSM will relocate around 85 people from existing space in the city.

SALES

Palace Capital sold a freehold vacant property on Victoria Road in Stoke-on-Trent for £1.08M to a private group. Palace acquired the 40k SF building in October 2013 as part of a portfolio from Quintain Estates and Development, but the property became vacant last year after pottery firm Portmeirion, which had let the building for 35 years, moved elsewhere.

DEVELOPMENTS

Greenwich Council and Vue Entertainment signed a deal to bring a state-of-the-art cinema complex to Eltham High Street. The council purchased the property for the cinema as part of its plans to regenerate the area. The cinema will be the heart of the new Eltham Town Centre. The project is slated for completion in 2018.

***

Prologis started construction on the final building at Prologis Park Basildon on Christopher Martin Road. The 74k SF spec space is adjacent to the 86k SF roastery that Prologis is developing for Costa Coffee and a 57k SF facility that it is building for an expanding local company.

***

Carillion started the foundation work on its £500M Paradise development in Birmingham.

***

Pollard Thomas Edwards Architects won the design competition for redevelopment of the Finsbury Leisure Centre site in London. The brief includes new council homes, improved public space and a civic centre that will include child care, healthcare and leisure facilities.

FINANCE

DRC Capital agreed to provide finance to fund the £323M purchase of Pinewood Group, which owns the iconic Pinewood Studios complex in Buckinghamshire.