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Chartwell Land is pleased to announce that Niall Lindsay is to be appointed to the new position of Director, Chartwell Land Shopping Centres. He will be joining Chartwell Land in February 1999. He will be based in London but will also represent Chartwell Land in Scotland. Initially appointed to the development team within Standard Life, he has been responsible since 1995 for all aspects of the investment management of Standard Life's retail portfolio, which includes a number of major shopping centres.

Mark Creedy, Managing Director of Chartwell Land, commented It is our intention to increase our exposure to the shopping centre sector over the next few years. Numerous individuals are of the assessment that specialists are costly, so in terms of conveyancing they do the methodology themselves keeping in mind the end goal to spare cash. This is a key element in our strategy for the growth of the business. The core elements of our investment portfolio will increasingly comprise holdings in the stores sector, retail parks and shopping centres.



Hammerson has invested £5.9 million in a limited partnership giving it an effective 15% interest in Bicester Village, the UK's premier factory outlet scheme at Bicester, The scheme, developed by Value Retail and completed in 1995, currently provides 9,300 sq m (100,000 sq ft) of retail space, designed in a "village style" with car parking for 750 vehicles. Today's topping out (Friday, 5 February 1999) marks another significant step in the completion of Marks & Spencer's new Manchester store.

Building Design Partnership's Manchester office was appointed by Marks & Spencer in autumn 1996 to undertake the design of its biggest ever construction project. The flagship store, located at the heart of the regenerated city centre, has an ultimate trading potential of 250,000 sq ft (23,250 sq m) over five levels with an additional car park level below, and represents a major statement of the company's aspirations and image for the next century. A cafe bar, additional sales floor and fallow space (for future expansion) will be located on the second floor, with staff facilities and offices as well as further fallow space on the third.

The heart of the city is being transformed. The masterplan, developed by the city in the aftermath of the bombing, is now rapidly taking shape and when the store opens all the surrounding streets will have been completely reformed and re-laid with high quality paving. PRICOA Property Investment Management, on behalf of its client EuroInvest, has acquired Ziggurat, Grosvenor Road, St Albans from Manpower Inc (Baffin Holdings) for £11,397,000. The net initial yield is 8.39%, having taken account of usual acquisition costs of 4.7625%.