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News

 

 


  

02.09.10 Plumtree plan supports Midtown Cycle

Premier Property Group (PPG) has become the latest developer to show its growing confidence in the Midtown market by submitting the first major planning application for a Midtown office scheme this cycle.  The Edinburgh-based firm plans to turn professional services Pricewaterhouse Coopers' (PwC) HQ at Plumtree Court, EC4, into a 412,000 sq ft office block.  The property currently extends to 200,000 sq ft. more

 


  

31.08.10 No new space driving take-up of refurbished Midtown Offices

Two quick deals on good quality refurbished space at UK & European's 9 Kingsway, WC2, provide further evidence that Midtown’s development pipeline is drying up. To date there has been only one office scheme start in Midtown in 2010, despite take-up in Midtown of over 370,000 sq ft in both Q1 and Q2. The lack of development stock will have an increasingly significant impact on the Midtown market to 2012 as more and more refurbished space is absorbed. more

 

 

  

25.08.10 Farebrother July 2010 Office & Retail Deals

Including 4,920 sq ft to Assura Medical Limited, 7-12 Tavistock Square, WC1, two deals at 9 Kingsway, WC2 totalling 7,127 sq ft to Global Ethics Limited and Attheraces Holdings Limited and 4,872 sq ft to PSD Limited, 48 Chancery Lane, WC2. more

 

 

  

26.07.10 Farebrother teams' work celebrated

Evening Standard: New Bloomsbury set. Farebrother's management, leasing and retail teams work in Lamb's Conduit Street and Rugby Street for a private landlord client is recognised. read the full article

 

 

  

15.07.10 Farebrother June 2010 Office & Retail Deals

Including the acquisition of c.57,500 sq ft for Age UK at Tavis House, 1-6 Tavistock Square, WC1, 10,584 sq ft let to The London Mint Office at Harmsworth House, Bouverie Street, EC4 on behalf of Topland, 4,145 sq ft let to WMS at 26-28 Bedford Row, WC1, and a 1,150 sq ft retail unit at 53 Lamb's Conduit Street, WC1, to Shofolk. more

 

 


  

07.07.10 Midtown Office Supply Dries Up

Soon to be published 2nd Quarter data from Farebrother provides the strongest evidence yet that Midtown’s office development pipeline is drying up. To date there has been only one office start in Midtown in 2010, GMS Estates’ major refurbishment of 22,500 sq ft at Conquest House, 37-38 John Street, WC1, despite take-up in Midtown of 370,000 sq ft in Q2 and 376,000 sq ft in Q1. more

 

 


  

14.06.10 Farebrother acquires new offices for QEB

Advised by Farebrother, QEB Hollis Whiteman has acquired the freehold of 11,600 sq ft, 1-2 Laurence Pountney Hill, EC4, from Threadneedle for £3.3m, seeing-off rival bids once a deal to sell the freehold to a private investor fell through. more

 

 

  

10.06.10 Farebrother May 2010 Office & Retail Deals

Including 8,053 sq ft to Genesis Oil & Gas at MidCity Place, WC1, from Westfield, 5,477 sq ft at 57-61 Charterhouse Street, EC1, to Truth Consulting, 4,061 sq ft at 48 Chancery Lane, WC2, to The National Pro Bono Centre and 4,000 sq ft at Lamb's Conduit Street, WC1, to The People's Supermarket. more

 

 


  

26.05.10 Historic Fleet Street building comes to life

After just six months on the market, one of the last remaining buildings from Fleet Street’s heyday as the centre of the newspaper industry, Harmsworth House, looks set to reach full occupancy for landlords Topland PLC, who are advised by Farebrother. Only 6,000 sq ft of office space remains available. more

 

 

   

20.05.10 Farebrother April 2010 Midtown Office and Retail Deals

Including 14,287 sq ft at Brettenham House, WC2, to Thomas Cook, three deals at Weston House, WC1, totalling over 25,000 sq ft to BPP and NHS Business Services Authority and Unit 1, 75 High Holborn, WC1, to William Hill. more

 

 


    

18.05.10 Lamb’s Conduit Street chosen for first store by new supermarket concept

New retail cooperative The People’s Supermarket (TPS) will open its first UK store in Midtown on Lamb’s Conduit Street, WC1N, this Autumn. TPS has taken a ten year lease on more than 4,000 sq ft over ground floor and basement at 72-78 Lamb’s Conduit Street, from a private landlord advised by Farebrother. more

 

 


    

14.05.10 Property Week : Head to Midtown for solid returns

Key results from the first Farebrother IPD Midtown Investment Report show that the Midtown office market outperformed the City and the broader UK office market last year delivering a 2.3% annual total return. Midtown properties delivered softer capital depreciation than City properties and the broader UK office market as a whole in 2009. Midtown provided the strongest income returns across the entire Central London Market in 2009 and has outperformed both the City and West End markets every year since 2001.

The Report is available on request. Press Release.

 

 


    

11.05.10 Farebrother IPD Midtown Investment Market Report launched

Over 80 investors, developers and funds attended the launch of a new IPD Report, sponsored by Farebrother, capturing performance data on 170 Midtown assets worth £2.4bn, hosted by Freshfields Bruckhaus Deringer LLP. The results are revealing, redefine Central London markets and underline Midtown's status as a competitive, stand-alone office market. The Report is available on request.

 

 


    

20.04.10 Rare opportunity to acquire an office with a history

Farebrother has been appointed by the Worshipful Society of Apothecaries to let the historic Magnesia House and Grade I listed The Houses, two newly-refurbished 18th Century office buildings close to St Paul’s Cathedral and within the St Paul’s Conservation Area. Magnesia House in Playhouse Yard, EC4, provides 3,153 sq ft of offices and the The Houses, 16-18 Blackfriars Lane, EC4, 4,603 sq ft. Ex-Licentiates of the Society who qualified in medicine in the buildings include the romantic poet John Keats and Elizabeth Garrett Anderson, the first woman to gain a medical qualification in the UK. more

 

 

    

14.04.10 Farebrother March 2010 Midtown Office and Retail Deals

Including 5,463 sq ft at Brettenham House, WC2, to Camelot, 4,626 sq ft at Lynton House, Tavistock Square, WC1, to Emailvision, 4,621 sq ft at 210 High Holborn, WC1, to Benoy and Ground Floor, 3 Adelaide Street, WC2, to Gino Gelato. more

 

 


      

30.03.10 Farebrother grows retail team

Farebrother has recruited Dan Ridgers as Head of Retail Agency and Phil Thomas as Development Adviser to support a growing Midtown retail market. Toby Fuhrman and Malcolm Brackley, will continue to provide specialist retail asset management and professional services, such as rent review and lease renewal work. Demand for retail in Midtown has grown significantly in recent months. more

 

 


      

24.03.10 Farebrother sells its award winning offices

On behalf of Marldon, Farebrother has sold the building it occupies, 27 Bream’s Buildings, Greystoke Place, EC4A, to Cicero Capital for £2.75m representing a net initial yield of 6.6%. The building comprises over 5,400 sq ft of offices let to Farebrother until 2016 and there are an additional ten residential units held on long leases. The Grade II, Award-winning building, immediately opposite Delancey and Invista’s Rolls Building was completed in 1961 by architects Yorke, Rosenberg & Mardall. The building won a RIBA London Architecture Bronze Medal. more

 

 

      

08.03.10 Farebrother February 2010 Midtown Office and Retail Deals

Including 8,100 sq ft at Fleet Place House, EC4, to Keltie, 3,595 sq ft at 95 Aldwych, WC2 to Nimsoft, St Bartholomew House, Fleet Street, EC4, to Langley Byers Bennett and Unit 3, 75 High Holborn, WC1 to Apostrophe. more

 

 


      

08.03.10 Clerkenwell Design Week 25-27th May 2010

Clerkenwell is the ‘the undisputed heart of design in London’. Clerkenwell Design Week is a three-day annual festival celebrating the area’s creative industries, their social impact and power for change. During the festival, many of Clerkenwell’s suppliers to the interior design and architecture industry, will be opening their showrooms and hosting a series of special events, receptions and UK product launches. Clerkenwell Design Week will also have its own ‘residency’ at the Dickension Farmiloe Building on St John Street. more

 

 


      

23.02.10 Agency team welcomes new player

Farebrother has appointed Mark Anstey as a Partner in the Leasing, Sales & Development team. Mark joins from Lambert Smith Hampton where he advised Telereal Trillium, Stockland and BUPA among others on acquisition, disposals and strategic property matters, including a 30,000 sq ft letting at 2 Harbour Exchange, E14, to the Legal Services Commission. Mark’s Midtown deals have included 14,000 sq ft of lettings at 95 Aldwych, WC2, to Holmen Paper, Cognosis and Hill McGlynn. more

 

 

      

19.02.10 EGi - Farebrother No 1 for Midtown office lettings in 2009

Farebrother again took top spot in 2009 after completing 60 deals, including 75,000 sq ft to University of the Arts London at 272 High Holborn, WC1. EGi reported that Farebrother had let over 422,000 sq ft, 29% of all space let. EGi defines Midtown as being postcode areas EC4A, EC4Y, EC1N (excl. sector 2), WC1 & WC2 (excl. Leicester Square).

 

 


      

17.02.10 CoStar - Farebrother No 1 for Midtown office deals in 2009

Farebrother let over 440,000 sq ft of office space in 2009, over 18% of all space let and nearly twice the amount of space disposed of by its nearest rival. Farebrother was instructed on just 10% of the total space available in Midtown, according to CoStar, which defines Midtown as being postcodes EC4A, EC4Y, EC1N, WC1 and WC2.

 

 

      

12.02.10 Farebrother January 2010 Midtown office and retail deals

Including 10 Old Bailey, EC4, to Rosling King LLP, 21-27 Lamb's Conduit Street, WC1, to Feilden + Mawson LLP, 30 Furnival Street, EC4 to Cellhire plc and 52 Lamb's Conduit Street, WC1, to Darkroom. more

 

 

      

19.01.10 Farebrother December 09 Midtown office and retail deals

Including 24/26 West Street, WC2 to URBN, 76 Shoe Lane, EC4, to Healys, 6 St Andrew Street, EC4, to Pinnacle Housing and 97/107 Southampton Row, WC1, to Ginseng Ltd. more

 

 


      

11.01.10 Take-up in Midtown rises 40%, supply falls for the first time in two years

Office take-up in Midtown in Q4 09 rose 40% on Q3 from 480,000 to 674,000 sq ft driven by deals on new and newly refurbished space such as 272 High Holborn and 40 Holborn Viaduct, according to our latest Midtown research. The availability rate also fell for the first time in two years by 0.9% points to 10.2% or 4.3m sq ft and is again at a rate lower than City (13.9% or 9.4m sq ft) or West End markets (10.5% or 7.2m sq ft). more

 

 


      

06.01.10 Bedford Estates and Threadneedle seal Heal’s deal

The Bedford Estates and Threadneedle Pensions Ltd. have consolidated their positions in Tottenham Court Road, London. Bedford has extended its existing freehold ownership of part of the iconic Heal’s Building by acquiring the adjoining freehold from Threadneedle, together with the freehold of 257/258 Tottenham Court Road and 1 Bedford Avenue. In return, Threadneedle has been granted a 150 year geared lease over the combined interests at Heal’s. more

 

 

      

22.12.09 Farebrother November 09 Midtown office and retail deals

Including 75,000 sq ft at 272 High Holborn, WC1, to University of the Arts London, 12,600 sq ft at New Court, WC2, to London School of Economics and retail unit 19 Lancaster Place, WC2, to Break Point at £60 psf. more

 

 


      

09.12.09 Farebrother win Freemasons' Property Management Contract

Farebrother has won a two year contract to manage the historic New Connaught Rooms, nine offices, eight retail and six residential units on Great Queen Street, Covent Garden, on behalf of the United Grand Lodge of England. more

 

 


      

08.12.09 Building and Project Consultancy services launched

Farebrother now offer Building Surveying and Project Management services, following a partnership agreement with Paragon LLP. The buildings services disciplines that Paragon provide will assist us in supporting our clients’ needs and include project management, contract administration, design services, cost consultancy, dilapidations, EPCs, cdm coordination and project monitoring (including monitoring services for funders/purchasers/tenants). more

 

 


      

26.11.09 First London Midtown IPD Investment Report to be published

Farebrother and IPD are to jointly publish Annual and Mid-Year investment performance reports on the London Midtown market for the next three years. This is the first time that IPD Indexed Midtown properties – around 110 assets worth £1.55 bn – will have been segregated from statistics for direct investment comparison with City, West End, Central London and UK markets. more

 

 

      

10.11.09 Farebrother October 09 Midtown office and retail deals

Including 27,500 sq ft at Weston House, 246 High Holborn, WC1, to Breakthrough Breast Cancer, ECUK and ETB, 5,255 sq ft at 12 Gough Square, EC4, to Sayers Butterworth LLP and 3,342 sq ft retail at 1-2 Adelaide Street, WC2, to Jigsaw on behalf of Telereal Trillium. more

 

 


      

06.11.09 Southbank faces office supply shortage

With only 3% of the 1.1 million sq ft of offices under construction in Southbank due to come to the market over the next two years, occupiers will have to leave Southbank, Farebrother’s latest research shows. more

 
      

28.10.09 Farebrother head Q3 09 Midtown Agents' league

EGi's Q3 London Offices Analysis shows Farebrother at the top of the Midtown Agents' league having disposed of 29% of all space, 94,068 sq ft in 17 deals. The Practice is currently in sixth place in the 2009 Central London league for total number of deals done, with 64 deals. Farebrother's largest deal in Q3 was at New Court, 45-48 Carey Street, WC2. Full Report

 
   

14.10.09 More lettings at Lynton House

Medical Research Council Technology Limited (MRCTL) is the latest tenant to take one of the last remaining floors at Lynton House, 7-12 Tavistock Square WC1. The lower ground floor comprising 8,950 sq ft has also just been let to BSG Valentine who have taken a new 10 year lease at a rent of £22.50 per sq ft. more

 

 
 
     

10.10.09 Acquisition wins British Council for Offices' 'best of the best' award

Offices acquired for Farebrother clients the Esmée Fairbairn Foundation, have won the top award at this week's BCO National Awards. Parabola Land's King's Place, 90 York Way, N1, was named 'Best of the Best' having already carried off the award for the best Commercial Workplace in the country. Farebrother successfully acquired close to 8,500 sq ft in the building late last year after an extensive search for this leading charitable Foundation.

 

      

07.10.09 Farebrother September 09 Midtown office Deals

Including Harmsworth House, 13-15 Bouverie Street, EC4, to Geo Networks, Thavies Inn House, 3-4 Holborn Circus, EC1, to Webster Dixon and 5 Bream's Buildings, EC4, to SCN Ltd. more

 

      

05.10.09 Rating Revaluation 2010 - Making the complicated look simple

Farebrother's Rating specialists will be providing road-maps to potential Rates savings in a breakfast presentation to the Midtown Business Club on 26th November 2009. more

 
      

23.09.09 Q3 09 Midtown Office & Retail Research Breakfast Briefings

Dates have been announced for our next roundtable discussion for developers, investors, landlords and tenants on the latest market analysis from Farebrother Research. more

 

      

07.09.09 Farebrother August 09 Midtown office Deals

Including New Court, Carey Street, WC2, to London School of Economics, 95 Aldwych, WC2, to Hills McGlynn, 6 St Andrew Street, EC4, to Arcus and Corinthian House, 279 Tottenham Court Road, W1 to Pearl & Dean. more

 

      

11.08.09 Farebrother July 09 Midtown office Deals

Including Weston House, 246 High Holborn, WC1 to UPP, Kean House, 6-10 Kean Street, WC2, to Chanel Advisor and St Bartholomew House, 90-94 Fleet Street, EC4, to Advicorp. more

 
      

10.08.09 Farebrother top Q2 09 Midtown Agents' league

EGi's Q2 London Offices Analysis shows Farebrother at the top of the Midtown Agents' league having disposed of 49% of all space let in 22 deals, performance which took the Practice to fourth place in the 2009 Central London league for total number of deals done, with 46 deals. By square footage let across London in Q2, Farebrother took sixth place, with 166,958 sq ft. Farebrother's largest deal was at 50-52 Chancery Lane, WC2, where Russell Jones & Walker took 28,500 sq ft. Full report

 

      

16.07.09 Farebrother June 09 Midtown London Office and Retail Lettings

Including 2nd, 3rd, 4th, 5th, 6th and 7th Floors, Buchanan House, 30 Holborn, EC1, to Cityspace, London School of Business & Finance, QCC, Global Witness and Sopexa and 12, Gough Square, EC4, to Blueprint. more

 

                    

13.07.09 Midtown Office take-up increases by 18 percent

Midtown office take-up increased by 18% to 567,000 sq ft in Q2 09, driven by a doubling of deals on secondhand Grade A space for local occupiers, including Russell Jones & Walker, the London School of Economics and anti-piracy specialists Maritime & Underwater Security Consultants. more

 
                    

23.06.09 Q2 09 Midtown Office & Retail Research Breakfast Briefings

Dates have been announced for our next roundtable discussion for developers, investors, landlords and tenants on the latest market analysis from Farebrother Research. more

 
      

11.06.09 Farebrother May 09 Midtown London Office and Retail Lettings

Including Carter Ruck and Equity Trust at 6 St Andrew Street, EC4, Skills for Health at Lynton House, 7-12 Tavistock Square, WC1, Wilsons Solicitors and Rapisardi at 3-4 Lincoln's Inn Fields, WC2 and Costa at 8 Adelaide Street, WC2. more

 

   

09.06.09 NHS Agency relocates to London Midtown

Skills for Health is the latest tenant to take space at Lynton House, 7-12 Tavistock Square, WC1, relocating its headquarters in Bristol to London. The UK wide organisation, operated by Bristol NHS Foundation Trust, is responsible for supporting and promoting skills development and training in the health sector. more

 

   

08.06.09 Midtown shops fail to attract well-paid office workers

A new Farebrother Research Report for developers and retailers, ‘The Where & Why Guide to Midtown Retail’, reveals that as few as one-in-three of the 250,000 local office workers - a total equal in size to the entire population of Nottingham - spend their weekly budget for clothes, meals or the gym on Midtown’s main streets. more

 

 

                    

20.05.09 inholborn consults on BID area expansion

Having established a strong presence in the area, inholborn is exploring how it might add further value to Midtown by including the area to the west, towards St. Giles Circus. Currently this area lacks identity and quality retail, has significant infrastructure issues and would benefit from the regeneration a business-led initiative could bring. more

 

 

 

11.05.09 Maritime security specialists expand in Midtown

Acting on behalf of a private client, Farebrother has let 6 Bell Yard, WC2, to international security firm Maritime and Underwater Security Consultants (MUSC) for their new global HQ. MUSC is expanding from its current home on Victoria Embankment to meet new demand from government and commercial clients for anti-piracy, ship, cable, pipeline and border security advice services. more

 
 

08.05.09 Farebrother April 09 Midtown London Office Lettings

Including 50-52 Chancery Lane, WC2 to Russell Jones & Walker, Peninsula House, EC3R to Plexus Law and 6 Bell Yard, WC2 to Maritime & Underwater Security Consultants. more

 

 

05.05.09 Farebrother continue to lead Agents' league

Farebrother topped CoStar Focus's Agents' League Report for sq ft let in Midtown during Q1 09, completing 15 deals totalling 87,339 sq ft. more

 

 

05.05.09 EGi declare Farebrother top of the agents' league

EGi's latest quarterly London Offices Analysis shows Farebrother as having the greatest share of the Midtown disposals market. more

 

 

29.04.09 Prestbury secure early letting

Advised by Farebrother, Prestbury Investment Holdings has let the refurbished fifth floor (6,000 sq ft) at 6 St Andrew Street, EC4, less than four weeks after launch in March. more

 

 

28.04.09 Demand from local businesses and the media sector boost Midtown office market

Nearly two-thirds of demand for Midtown office space is from Midtown occupiers, up 9% on Q4 2008 figures, according to Farebrother’s latest quarterly research. Quarterly take-up of Midtown office space exceeds both City and West End markets. more

 

 

27.04.09 New Midtown HQ for leading legal rights solicitors

Solicitors Russell Jones & Walker, who has over 45 partners in 9 offices across the UK, has taken over 28,000 sq ft on a 10 year lease at 50-52 Chancery Lane, WC2 on confidential terms as its new London HQ. more

 
 

17.04.09 Farebrother March 09 Midtown London Office Lettings

Including 75 High Holborn, WC1 to British Horceracing Authority & The Jockey Club, Brettenham House, WC2 to ECI Partners & BVCA and One New Oxford Street, WC1 to Reef TV. more

 
 

16.04.09 Conquest House pre-letting Breakfast to help 2,000 children combat Malaria

GMS Estates will be donating £30 for each of the invited agents that attend its St George’s Day Breakfast Launch of Conquest House on John Street in Bloomsbury, WC1 from 8 am on 23rd April 2009, and raise over £2,000 for the Malaria Consortium. more

 
  

15.04.09 The Bedford Estates buys Time Out HQ for £14.11m

The Bedford Estates, advised by Farebrother, has today completed the purchase of the freehold interest in 251-256 Tottenham Court Road, WC1 from British Land for £14.1125m. The property comprises 28,000 sq ft of offices let to Time Out Magazines until 09/2018 and two prime retail units totaling 5,500 sq ft. more

 
  

14.04.09 Midtown office market outperforms City and West End in Q1 09

Take-up of Midtown office space exceeded both City & West End markets in Q1 09. In relative terms, Midtown returned 50% take-up over its share of total Central London stock. more

 
  

25.03.09 Small World : Farebrother launches Alumni network

Did you used to work for Farebrother? We are looking to make contact with former colleagues in order to invite them to a reception in June to celebrate our 210th Anniversary and help launch our Alumni network. more

 
 
 

23.03.09 Q1 09 Research Breakfast Briefings

Dates for our next roundtable discussion for developers, investors, landlords and tenants on the latest Midtown office market analysis from Farebrother Research. more

 
 
 

19.03.09 Business as usual

We are pleased to confirm that Farebrother's office at 27 Bream's Buildings opened for business as usual this morning following yesterday's fire at Field House, although access is currently restricted to our Greystoke Place / Fetter Lane entrance.

 
 
 

19.03.09 Chancery Lane Enhancement Scheme Exhibition opens

Details of a creative scheme to improve the streetscape in and around Chancery Lane were unveiled today at 48 Chancery Lane. The consultation runs until 17.04.09. more

 
 

06.03.09 Farebrother February 09 Midtown London Office & Retail Lettings

Including 28 Britannia Street, WC1 to Austin Smith:Lord, Ivybridge House, WC2 to Intelligent Addressing Ltd and 75 High Holborn, WC1 to Flight Centre. more

 

 
 

19.02.09 600 seek retail therapy

With two weeks until it closes, 600 people have already registered their views on improving retail in Midtown in a unique survey. more

 

 
 

17.02.09 Farebrother No 1 in Midtown

Farebrother has topped 2008 Agents league table for Midtown with a 21% share of the market, according to EGi’s latest London Offices Market Analysis. Farebrother let a total of 268,862 sq ft in 39 deals, 25 more than our nearest rival. more

 
  

16.02.09 Leading international software company signs lease in Bloomsbury

Emailvision (UK) Ltd, the French-owned market leader in email management software for the e-commerce and publishing sectors, is the latest occupier to take space at Lynton House in the heart of Bloomsbury. 50,000 sq ft has now been let in the recently refurbished building. more

 

 

09.02.09 Discover Midtown Guide available

A unique insight into Midtown business life, this new book has been published by developer Castlethorn and Farebrother. Fashonista, Media and Professional services firms such as Alexander McQueen, Mediacomm and Deloitte discuss their location needs, alongside an overview of the history, attractions and strong transport links that exemplify Midtown: the silver, diamond and jewellery trades, its role at the heart of the Country's legal establishment and award-winning restaurants, bars and gyms. more

 
  

09.02.09 Midtown market moving faster than we have ever seen

The quality of stock currently available and tenant diversification, make previous market trends irrelevant. Our analysis of take-up of total stock shows that Midtown is outperforming City & West End markets, but with future supply of higher grade space, particularly in WC1 & 2, at very low levels, competition is fierce as tenant-led supply begins to reach the market. more
 

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