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NEPI calls off Polish deal; Intu hires contractor for retail property revamp


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NEPI calls off Polish deal; Intu hires contractor for retail property revamp

* NEPI Rockcastle PLC's Tuvalu Sp. z o.o. unit called off a deal to purchase two shopping centers in Kraków, Poland, after remaining conditions for completing the acquisition were not completed by Dec. 31, 2018.

Tuvalu had signed an agreement in October 2017 to buy the Serenada Shopping Centre and the Krokus Shopping Centre for a sum of €249.4 million.

* Intu Properties PLC hired Sir Robert McAlpine as contractor to work on the £86 million revamp of the intu Broadmarsh shopping center in Nottingham, U.K. Preliminary work on the site has been going on since 2018, with Sir Robert McAlpine to advance the next phase of the project in early 2019.

UK and Ireland

* Peel Holdings and Romal Capital are seeking planning consent for a mixed-use development as part of the third phase of the £5.5 billion Liverpool Waters project in Liverpool, U.K., Property Week reported. Plans for the proposed development includes 646 apartments and 2,500 square feet of ground-level commercial and retail space, with completion planned in 2021, the report added.

* A partnership between Buccleuch Property and Wrenbridge Land Ltd. acquired the LUMA building at Clapham Road in London for an undisclosed amount. The property offers 25,000 square feet of prime office space across seven floors and is part of Notting Hill Genesis' mixed-use project.

* Britannia Hotels Ltd., the U.K.'s largest private hospitality company, picked up the 175-bed Coylumbridge Hotel in the Scottish Highlands from Starwood Capital for an unknown sum, PW reported. The property sits on a 65-acre estate on the edge of the Cairngorms National Park in Scotland.

Starwood bought the hotel as part of its Hilton hotel portfolio purchase in 2018, the publication added.

* According to Nationwide Building Society, house prices in Britain increased 0.5% year over year in December 2018, marking the slowest annual growth in values since February 2013, The (U.K.) Guardian reported. The average house price in the U.K. during the month stood at £212,281, compared to £211,156 in December 2017, the report added.

* Joint venture partners Golden Brook Ltd. and MHEC Ltd. trimmed the height of their planned U2 visitor center in the Dublin Docklands by 16.25% from 14.4 meters after the Dublin City Council objected to the proposal due to its impact on a nearby apartment building, the Irish Independent reported. The revised proposal is expected to be voted on in February, the report added.


* Danish pension funds manager Sampension divested its stake in an office complex in Aarhus to two pension fund peers, JØP and DIP, IPE Real Estate reported. The financial details of the transaction were not disclosed. However, according to JØP, the transaction was one of the largest commercial real estate deals in Denmark carried out between pension funds, the report added.

Middle East

* Hyatt Hotels Corp. reintroduced its Hyatt Regency brand to Kuwait with the opening of its 200-room Hyatt Regency Al Kout Mall hotel in a joint venture with local company Tamdeen Group. The partners are also set to open the Grand Hyatt Kuwait in 2020, according to a release.

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