The Property Ticker: Unibail; New York becomes first state to pause new data center dev; Kennedy Wilson launches sale in Manchester; China’s JD.com buys west London offices for UK HQ...and more

Research evidence excerpt

The Property Ticker: Unibail; New York becomes first state to pause new data center dev; Kennedy Wilson launches sale in Manchester; China’s JD.com buys west London offices for UK HQ...and more

participants warn that moratoriums could shift

investment towards more supportive markets such as Texas and Virginia, while reducing

the attractiveness of regions considering restrictions. Developers may increasingly

favour smaller facilities, adaptive reuse projects and locations with existing power

infrastructure as governments scrutinise the costs and community impacts of large-scale

data center expansion. (Source: CoStar)

• Kennedy Wilson launches £88 million sale of Manchester Towers office campus:

Kennedy Wilson has launched the sale of Towers, a 296,000 sq ft office campus in

Didsbury, Manchester, for over £88.2m, implying a 9.5% NIY. The disposal follows the

signing of Siemens on a 40,000 sq ft lease at £34.70 psf, taking occupancy to 92%. The

estate houses more than 20 tenants, with an average rent of £25.79 psf, and has maintained

roughly 94% occupancy during Kennedy Wilson's decade-long ownership.The owner

has invested around £12m into the campus, upgrading over 70% of space to EPC A/B

standards and making 52% of the scheme fully electric. The sale comes shortly after

Kennedy Wilson sold Edinburgh's Waverley Gate for around £78m at an 8.5% NIY,

adding to a growing pipeline of regional UK office assets being marketed, including

UBS's Havelock building in Manchester. (Source: CoStar)

• China’s JD.com buys west London offices for UK headquarters: JD.com has acquired

Systems, a 127,000 sq ft office building in Brook Green, west London, as its new UK

headquarters from BlueFive Private Wealth. The historic asset, formerly the headquarters