This week has been jam packed with commercial property news from around the UK, but we’ve only time to delved into a select few.
Last time we looked at a Selby commercial property fund, Scottish hotel investments, Virgin Money takeover bids and designs for the Liverpool Waters project.
This time we’ll be looking at a Grade office development in Belfast, developers and ‘eco’ building, UK construction rebounding and transfer pricing tax.
Merchant Square: Grade A Development in Belfast
Belfast City centre is set to be transformed with new works on a 9 storey Grade A office building, primed for the business district.
The development, called The Merchant Square, is predicted to yield 227,000 sq ft of retail and office space which will house over 3,000 employees.
Completion for this project is due Q3 2019 and the building is estimated to cost over £70 million.
Find out more about this news story via Belfast News Letter.
Eco Building: Do Developers ‘Just Pay Lip Service’?
There is a rise in environmentally and eco friendly office spaces, but are developers making promises that they ultimately aren’t keeping?
A survey found that 42% of building tenants considered the eco-friendliness of a property before making a decision on renting.
LSL’s PRSim research also revealed that the figure above rose to over 50% for those who were looking to rent property within London.
Find out more about this news story via Development Finance Today.
UK Construction Warms Up After Harsh Winter
The British construction industry seems to have turned around quickly in April, despite the downfall of snow in February and March.
The Purchasing Managers’ Index (PMI) for UK construction rose to 52.5 last month, compared to 47.0 in snowy March.
Before the PMI report, however, sterling made an incredible comeback and rose after almost 4 months of being reasonably low.
Find out more about this news story via Reuters.
HMRC Launches 250 Investigations Into Transfer Pricing
Transfer pricing by UK corporates have gone under the spotlight in 250 HMRC investigations over the course of the last year.
Research from law firm, Pinsent Masons, shows that underpayment levels had reached more than 50% – launching into more complex inquiries.
250 investigations is actually lower than the previous year, where there were 362 reported. HMRC have confirmed that large businesses underpaid by a staggering £5.8 billion.
Find out more about this news story via Accountancy Daily.
That’s all for this week, make sure to stay tuned for more commercial property news. If you want even more up to date information then please visit our Twitter page at @VAT_BRIDGE – where you’ll find a whole bunch of daily news and insights.