Category : Commercial General property news
A major commercial office development planned for the city centre of Derby has been revealed.
Local firm Norseman Investments has announced it is seeking to build six new office blocks in the heart of the city on land next to the Westfield Derby shopping centre at a cost of £150 million, Property Week reports.
This will create 400,000 sq ft of new office space in buildings ranging from six to nine storeys in height on land that the firm recent bought from the Speed car dealership.
If the plan is approved, work is intended to start in 2009 and be completed in 2011.
Another major commercial property development, this time involving investment in existing property, has been announced in Glasgow.
Two property investors based in the city, John White and Andrew Templeton, have teamed up to launch the £70 million Sanderling Estates fund.
Designed to take advantage of low prices in the market following recent falls, the fund has been built up using a £56 million Royal Bank of Scotland facility plus £14 million from private investors.
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