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BoE sees signs of Brexit-related woes; record set for UK shed purchase at £126M

 * According to the Monetary Policy Committee of theBank of England, there are "some signs" that the EU referendum isstarting to affect growth in the U.K., notingthat decisions related to commercial property deals are being postponed untilafter the vote. This and other factors are expected to cause "somesoftening" in first-half 2016 domestic growth.

Bloomberg News addedthat the committee thinks that uncertainty around the Brexit played a "significantrole" in the 40% year over year drop in commercial real estatetransactions in the 2015 fourth quarter.

* MERLIN Properties SOCIMISA completed an issuance of €850 million worth of bonds.MERLIN CEO Ismael Clemente said the bonds were 4x oversubscribed.

* Hammerson Plcapplauded LondonMayor Boris Johnson's decision to delay a public hearing scheduled for April 18to decide the future of its £800 million Bishopsgate Goodsyard development.

* Europa Capital closed the first round of shopping for commitments for anew fund with €360 million, IPE RealEstate reported.The €750 million Europa Fund V will focus on investment opportunities in theU.K., France and Germany, as previously reported.

* A unit of Singapore-listed CapitaLandLtd. is planning to further expand in Europe by acquiring existingbuildings and turning them into serviced residences. Property Investor Europe reportedthat The Ascott Ltd. CEO Lee Chee Koon said at an event in Paris that thecompany will continue to grow in cities like Paris, London, Munich and Hamburg.

* Gramercy Europe is on track to spend €800 million in Europe in 2016,PropertyEU reported,citing Managing Director Alistair Calvert.

UKand Ireland

* Mountpark Logistics has agreed to sell a 1 million-square-foot Amazonfulfilment center in Bardon, Leicestershire, to a private Korean investor for£126 million, Property Week reported.

The publication noted that the transaction is settinga record for the highest price paid for an industrial unit in the U.K.

* According to unnamed sources, TritaxBig Box REIT Plc is close to sealing a roughly £76 million dealwith the Consensus Business Group for a distribution center in Nottinghamshire.PW reportedthat the off-market deal for the 712,000-square-foot unit reflects a 5.6%yield.

* Topland Group and Henley Investments divested a portfolio of assistedliving assets for £50 million to Equitix, PWreported.The properties in the portfolio are located across the U.K.

* In line with a £500 million plan to invest in private residentialproperties in the U.K., Aberdeen Asset Management bought an 84-unit residentialdevelopment in Harrow on the Hill, London, accordingto CoStar U.K.

* Tech giant Apple is in talks with Tribeca Holdings for a new store atthe Old Spitalfields Market in London, PWreported.Other retailers that are said to be interested in taking up space at the marketare fashion brand Rag & Bone and cosmetics brand Jo Malone.

* Basio Holdings secured permission to convert the 32-floor MillbankTower office building in London's Westminster into a luxury residence towerwith 200 units. The company is also planning to add two more floors to the building,Construction Enquirer reported.

* An international law firm is mulling over the relocation of its Londonheadquarters, and schemes from BritishLand Co. Plc, Brookfield Property Partners and TH Real Estate havebeen shortlisted. Freshfields Bruckhaus could also elect to stay at its currentheadquarters at Fleet Street, CoStar U.K. reported.

The law firm instructed Cushman & Wakefield tolook for up to 300,000 square feet of office space in central London in December2015.

* The £500 million speculatively built iPort logistics park in Yorkshire,U.K. has signed its first tenant. Fellowes inked a deal for a21,158-square-foot office and a 123,215-square-foot warehouse. It will alsoserve as the manufacturer's headquarters in the U.K., PW reported.

* In Ireland, following the Central Statistics Office's disclosure of apossible shortage in the number of homes versus demand, unnamed sources quotedby the Irish Independent said thatthe nation's bad bank owns land that could yield 80,000 homes but "substantialbarriers" are present.

These barriers, according to the sources, include alack of infrastructure and essential services from the government. NAMA, whichpledged to deliver 20,000 new homes by 2020, is "unlikely" to be ableto develop its sites outside major urban areas in the next five years,according to one of the sources.


* Italy's state financial institution CDP is anchoring a new investmentfund that aims to promote the country's hotel and tourism industry, PIE reported.CDP will provide €100 million to the new fund.

The fund that has a capitalization target of roughly €1billion is expected to encourage the establishment of hotel-focused vehicles.

* Spanish bank Evo is tipped to be paying nearly €300 million for aportfolio of home loans worth almost €400 million, the Expansión newspaper reported.GE Capital owns the portfolio of 5,000 mortgage contracts.

The Project Zágato portfolio was placed on the marketin 2015, accordingto PIE.


The Frankfurt city government will rule on a €331million urban quarter development in the Seckbach and Bornheim district in theweek of April 18. PIE reported,citing local media, that the Grüne Mitte project is expected to provide 4,000new flats over the next 12 years.


Aviva Investors Real Estate France plans to spend over€800 million in the country in 2016, primarily on office acquisitions in Paris,PIE reported,citing a company statement.


* M7 Real Estate bought a portfolio of 13 offices and four industrialassets in the Netherlands on behalf of its latest European investment fund foran undisclosed price. According to a news release, the portfolio was sold by aCBRE Global Investors-managed fund.

TheDaily Dose Europe, Real Estate edition, is updated as of 6:30 am London time.Some links require a subscription. Articles and links are correct as ofpublication time.