Redistribution of wealth

Article Abstract:

ProLogis Kingspark Director John Cutts and ProLogis Overseas Chief Investment Officer Jeff Schwartz are looking at distribution sites throughout Europe. ProLogis plans to own some 25 million sq ft of property within 36 months. ProLogis took over Kingspark in 1998. As one of the co-founders of the company Cutts received 30 million pounds sterling. Cutts confirms the company is looking for sites in Europe, with good transport links, of around 1 million sq ft in size. There is some concern whether investors will invest in distribution property rather than industrial sites.

Industrial Real Estate Developers, Commercial and Institutional Building Construction, Commercial Buildings, Nonresidential construction, not elsewhere classified, Investments, Executives, Commercial construction, ProLogis, Cutts, John, ProLogis Kingspark, Schwartz, Jeff

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Ridden out of town

Article Abstract:

The UK government has rejected plans for a 42,000 sq mt extension to the Merry Hill retail centre in Dudley, England. In doing so, it has shown that it does not accept the argument put forward by developer Chelsfield and Dudley council that the centre is becoming a town centre in its own right. The inquiry inspector agreed that Merry Hill supports a range of activities, but stated that it does not have the diversity of uses associated with a town centre.

Shopping Center Developers, Retail trade, Buildings and facilities, Shopping centers, Dudley, England

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The great Gadsby

Article Abstract:

UK property developer Peter Gadsby is determined to make his company Birch succeed when it is floated in 1997. He intends to use public investment to expand the operation, currently at 95 houses per annum, to 500 units per annum. He bought the company as a loss-making business in 1987 for 200,000 pounds sterling. It now has 400 staff and three offices in the Midlands area of England. It reported a turnover of 42 million pounds sterling in 1996.

Housing Developers, Real estate developers, Officials and employees, Interview, Gadsby, Peter, Birch

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