Birmingham Post

Profits for Property Group Up 27.3 Pc

Evans Property Group posted pre-tax profits of pounds 18.47 million for the year to March 31, an increase of 27.3 per cent on the previous year. The group also saw the value of its property portfolio increase by 16 per cent to pounds 540.8 million, reflecting a revaluation uplift of pounds 60.8 million.

Asda Jobs Add Sparkle

Supermarket chain Asda is creating more than 570 new jobs nationwide through an expansion of its in-store jewellery, photographic and optical departments. About 320 jobs will be created with the opening of 40 new Photo Centres at a cost of pounds 6 million. The centres offer digital and standard photo processing, plus cameras and accessories.

Matrix Realty Wins Contract for Landmark Office Scheme in Erdington

Matrix Realty Group has won a major contract to develop a landmark office scheme in Erdington, Birmingham, for Land Securities Trillium, one of the UK's leading providers of property outsourcing solutions. The four storey building will be in one of Erdington's busiest thoroughfares, on the corner of Sutton New Road with Barnabas Road, and will be built for one of LST's clients, which has outsourced its property requirements to the company. The new office scheme will be constructed on a brownf...

Commercial Property: Loxton Just the Tonic for Previa

Loxton Developments has secured a major tenant for Grosvenor House, the 46,500 sq ft office building on Prospect Hill, Redditch. Loxton recently acquired the six-storey offices for pounds 3.2 million, and now Previa Healthcare has signed up for a five-year lease, taking one 6,100 sq ft wing of the building.

Commercial Property: Hortons Pulls Off Fastest Deal of the Year

A pounds 2.55 million acquisition has been completed in record time by one of Birmingham's largest family-owned property companies. Hortons' Estate has acquired the freehold of the 41,561 sq ft Aston Expressway Industrial Estate in Aston, Birmingham in just ten days.

Commercial Property: Three New Faces to Lead Departments

Lambert Smith Hampton has strengthened its focus on its professional advisory work with the creation of three new departments and the appointment of three senior specialist surveyors to lead them. Director Tim Sandford becomes head of valuation, moving from the commercial property consultancy's investment team.

Commercial Property: Solar Helps Power Up Solihull's Importance

Solihull's importance as a distribution base has been underlined with the completion of the second phase of Solar Park, a pounds 17 million scheme developed by Axa Real Estate Investment Managers and Wrenbridge. 'Strong interest is already being shown in the development by local and regional companies,' said David Binks, a partner with property consultancy King Sturge, which is joint letting agent with NAI Fuller Peiser.

Commercial Property: Dtz Park Deal

Perspective: Choosing to Count the Cost of All This Choice

There are some things about which I would really rather have no choice -like who is going to bill me for my gas and electricity, or whether I am going to dial 118 118 or 118 888 for directory inquiries. These choices have made life worse. There was a time when without so much as a split second to ponder, my fingers would land on 192 when I needed a telephone number.

Perspective: Burning Bush ; This Was Some Sort of Game, Some Sort of Window-Dressing. There Were More Police in Manhattan Than There Were Troops in Afghanistan Looking for Bin Laden -Documentary Director Michael Moore Film Critic Mike Davies Finds Michael Moore Is Turning Up the Heat with Fahrenheit 9/11

I t won the Palme D'Or at the Cannes Film Festival. Disney refused to distribute it. The Bush administration is trying to block any advertising for it. And it stormed the American box office with a staggering weekend total of $21m to become the the first documentary to open at No 1 and the most successful ever. Michael Moore's Fahrenheit 9/11 may not be half as good a film as Bowling For Columbine, but its investigation into the corruption, lies and deceit that have characterised the George W...

Us Rates Follow Uk Rises

A merican interest rates were raised for the first time in four years last night, when the Federal Reserve upped its official rate to 1.25 per cent from one per cent, the lowest cost of borrowing for the US since 1958. The news came after a CBI survey showed that rising interest rates in Britain have finally begun to squeeze sales of new cars.

Flybe's Brayford Heads for Africa

The man who has overseen the growth of low-cost airline Flybe into the second biggest operator at Birmingham airport is leaving his post for a new challenge in the Middle East. John Brayford, Midlands regional manager for the airline, is also quitting his role as president of the Solihull Chamber of Commerce which he took up earlier this year.

Royal Award for Alumet's Enterprise

An award-winning Warwickshire company has achieved further recognition when it collected a Queen's Award for Enterprise yesterday. Alumet System, which is based in Southam, was recognised for its innovative approach to the manufacture of dry wall beams for the construction industry Its Avon Dry Wall Beam is a modern day alternative to traditional construction methods and can reduce the build time for new walls by 40 per cent.

Rate Rise Nerves Sees Ftse Decline

London shares came under the cosh last night from growing nervousness about interest rate rises in the world's biggest economy. The FTSE 100 Index steadily declined throughout the session to finish 48.3 points lower at 4464.1 ahead of the US Federal Reserve's announcement on rates. A quarter-point rise to 1.25 per cent is forecast but analysts believe more aggressive rises in the cost of borrowing are to come.

Sainsbury's Davis Denial

Supermarket giant Sainsbury's has refused to confirm reports that its chairman is to step down. The BBC reported that Sir Peter Davis, is to stand down later today.

Virgin Staff to Share in Flotation

Sir Richard Branson's Virgin Mobile has at long last confirmed plans for a stock market flotation in a move thought to value the company at more than pounds 1 billion. The market listing, which should be completed by the end of July, comes more than four years after the mobile phone arm of Virgin Group was set up. Employees who have been with the company for more than a year stand to benefit as they will be offered free shares expected to be worth hundreds of pounds.

Imi Bags Swiss Solenoid Company

I MI has agreed to buy Fluid Automation Systems, a Swiss technology company, for an enterprise value of some pounds 20 million. FAS specialises in miniature solenoid valve solutions for applications including medical equipment, printing, semiconductors and beverage machinery.

City View Time for Others to Follow Transparency of the Fsa

Companies regulated by the Financial Services Authority paid it pounds 236.4 million in fees in the year to March. That kind of money and a payroll of 2,300 makes it right and proper for the FSA to publish an annual report as if it were a public company. It would make tantalising reading if other, bigger denizens of the public sector followed its example, starting with the National Health Service. Just the same, the FSA is a regulator, not a company, and the effort to distil its activities in...

Secondary Buy-Out for Freight Firm Managers ; Nightfreight: Pounds 89m Deal Seals Company's Future

The Willenhall-based specialist freight firm Nightfreight has completed an pounds 89 million secondary management buy-out. The firm which focuses on the overnight delivery of irregular dimension and weight (IDW) freight, announced the deal last night, funded by the Royal Bank of Scotland.

Virgin Staff to Share in Mobile Flotation

Sir Richard Branson's Virgin Mobile has at long last confirmed plans for a stock market flotation in a move thought to value the company at more than pounds 1 billion. The market listing, which should be completed by the end of July, comes more than four years after the mobile phone arm of Virgin Group was set up. Employees who have been with the company for more than a year stand to benefit as they will be offered free shares expected to be worth hundreds of pounds.