A weekly round up of the latest planning and property news from the central London Boroughs.

Camden

PW reports that ASOS has taken an additional 40,000 sq ft of space at its London headquarters and revealed plans for a £40m renovation project. The deal will take the fashion retailer’s presence at Greater London House in Camden to around 250,000 sq ft. ASOS said the expansion would allow it to recruit 1,500 additional staff members over the next three years, adding to the existing 2,500-strong workforce.

City of London

PW reports that German state-owned bank HSH Nordbank has put three London office assets on the market worth around £1bn, as part of a loan sale by its two main shareholders.  According to the Sunday Times, the bank has called for bids on the portfolio, which include law firm CMS’ base at Cannon Place in the City; and hedge fund Man Group’s City offices at Riverbank House.

PW reports that WRBC Development has secured a letting to AXIS Capital Holdings at The Scalpel office tower in the City of London.  AXIS has taken 31,500 sq ft on levels two and three of the 36-storey building and will become one of the tower’s first commercial tenants.  The Scalpel is located at 52 Lime Street, adjacent to Lloyd’s of London, and will become home to AXIS when it relocates from its current office at 60 Great Tower Street in 2018.

PW reports that Oxford Properties has exchanged on the sale of a 50% stake in its Paternoster Square office assets to Madison International Realty for around £200m.  The assets include King Edward Court, home of the London Stock Exchange and St Martin’s Court, CBRE’s head office in the City of London.  Oxford acquired St Martin’s Court in October 2012 for £110m and King Edward Court in April 2013 for £235m.  As part of Oxford’s ownership of the two assets, Oxford also managed the Paternoster Square Estate. Oxford will act as asset manager for the new joint venture.

PW reports that the City of London Corporation is considering plans to force office developers to provide consolidation centres for postal deliveries in a move that would help establish a new sub-sector of London’s industrial market.  The number of deliveries to office workers has increased rapidly in recent years as online shopping has grown in popularity, raising concerns about traffic levels in central London.

City of Westminster

PW reports that Ærium, the European real estate fund manager, has completed a £57m refinancing of its Mayfair portfolio with Deutsche Asset Management, on behalf its senior debt fund. The Mayfair portfolio comprises three prime office and retail properties delivering 43,400 sq ft of Grade A office space, and 7,800 sq ft of retail. Two of the properties are located on Grosvenor Street, and one on Savile Row.

PW reports that Mulberry is on the verge of opening a new London store on the site of Austin Reed’s former flagship outlet on Regent Street.   The luxury accessories brand is under offer to take some of the space at the 23,500 sq ft store at 100 Regent Street, which was vacated after Austin Reed went into administration and sold its lease to long-leaseholder Hermes earlier this year.  Mulberry already has a flagship store on New Bond Street and other London branches in Covent Garden, Brompton Road, St Christopher’s Place and both of London’s Westfield centres.

PW reports that  Blackstone has secured a 16,000 sq ft letting at the Adelphi, an art deco building located in Covent Garden Riverside. Consultancy firm A.T. Kearney has agreed a 15-year lease on level 12 of the 330,000 sq ft building and will move from Lansdowne House on Berkeley Square in Mayfair. Since acquiring the Adelphi in December 2012, Blackstone has completed an extensive refurbishment programme of levels 1-13. The letting to A.T. Kearney follows a recent deal with The Economist, which has signed a 15-year lease for 26,000 sq ft.

PW reports that ING Real Estate Finance has underwritten a £108.9m loan to acquire a retail and office building in London’s Mayfair. Oxford Properties, Richemont and Crown Acquisitions agreed the five-year facility to support the purchase of 47-50 New Bond Street last month.  The 48,000 sq ft property comprises ground floor retail units and office space above.

EG reports that Billionaire casino tycoon Stanley Ho is to buy the building that holds the record for the highest rent in the UK for around £213m – a 3.75% yield.  Ho’s Shun Take Group is in exclusive talks to buy Green Property Ventures’ 7-8 St James Square, SW1.  The average rent in the Eric Parry-designed, 62, 195 sq ft property is £125 per sq ft.

Hammersmith and Fulham

PW reports that Allsop Residential is offering a high-end development opportunity in Fulham.  Four townhouse-style buildings in Fulham are being offered for sale as a single lot with a guide price of £4m-plus.  Planning permission is in place to demolish the buildings and redevelop them into 15 to 20 luxury flats. There is also the potential for the existing  buildings to be refurbished.

Lambeth

EG reports that Lambeth Council has received plans from Access Self Storage for a 108,000 sq ft facility within three underground levels along with 63 homes for private rental market above ground on Streatham High Road.   It is noted that the self-storage market is growing in popularity.

PW reports that UBS Asset Management’s Global Real Estate business has bought India House on London’s Southbank for £28.4m from LaSalle Investment Management. Located on Curlew Street, in the Butler’s Wharf area of Southbank, India House is a 37,988 sq ft office development that was refurbished in 2000. The former spice warehouse is fully let to six tenants, and spread across six floors.

RBKC

PW reports that Cadogan has signed up health club operator KX Urban at its George House development on Sloane Street in Chelsea.  KX Urban will occupy a 7,665 sq ft unit and operate its first non-membership fitness centre with three studios offering group fitness classes alongside a spa and nutrition bar.

EG reports that Reality Estates has revealed plans for a new 76-bedroom hotel behind Chelsea FC’s Stamford Bridge Stadium on the Fulham Road, SW6.  Blakehampton Business Services is set to demolish the existing 43 bedroom La Reserve Hotel and build a three star hotel at 422-428 Fullham Road.  The new hotel would be built and operated by Realty and has an estimated end value of £20m.

Southwark

PW reports that Kraft Heinz has struck a deal to move its UK and European headquarters from Hayes in Middlesex to The Shard in London. The global food supplier has signed a 12-year lease with REM, owner of The Shard, and will occupy 38,000 sq ft on levels 20 and 21 of the iconic building.  The deal brings the total number of occupiers at The Shard to 32, with only 59,000 sq ft of office space at the building still to be let.

PW reports that Allsop Residential is seeking a development opportunity at a five storey office building in Southwark with the potential to be converted to residential under permitted development rights, as well as space for further residential development to the rear of the site.  It has a guide price of £1.6m.

Tower Hamlets

PW reports that the government has taken the whole 560,000 sq ft of space at 10 South Colonnade in Canary Wharf, owned by Canary Wharf Group, on a 15-year sub-lease from Barclays.

PW reports that Helical ends the year with a flurry of lettings, including, at The Loom, in London’s Whitechapel, Tribe Marketing has taken 5,700 sq ft of space on a five-year lease.

EG reports that the soon to be complete Nobu Hotel in Shoreditch, EC2, has approached investors over a prospective £110m sale – a 5.3% yield.  The investment vehicle of the hotel, William Corp, is looking to selll the asset through a sale and leaseback with Nobu Hospitality.

EG reports that Peter Bennison’s Residential has submitted plans for 316 homes in two new towers in the Isle of Dogs.  The 30-and 25-storey blocks at 49-59 Millharbour have been designed for the rental market and the application includes a 35% affordable housing.

ES reports that Tracey Emin scraps plans to demolish listed building to make way for Spitalfield studio have been withdrawn.  Emin submitted plans to Tower Hamlets council last July to tear down a listed building in Bell Lane, Spitalfields, and replace it with a five-floor house connected to her studio in Tenter Ground.  The council rejected Ms Emin’s proposal in April.  She then lodged an appeal but has now withdrawn this.

Wandsworth

EG reports that British Land has put a high street parade in Putney with permission for a 9-flat development up for sale priced at £15m.  Knight Frank has been appoined to market the island site at a price that reflects a 4.29% yield.  The freehold site of four shops at 56-0 Putney High Street is let to TK Maxx, Halfords, Barclays and Superdrug.