Scotland
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VSEL beats Kvaerner Govan on the Clyde to MoD contract
Kvaerner Govan on the Clyde faces heavy redundancies and possible closure within a year. It was beaten to a £200m order for two Royal Navy oil tankers by Cumbrian-based VSEL.
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Lords back Scottish contracts bill
Peers have backed legislation allowing housebuyers in Scotland to sue the vendor for damages for breach of contract without first having to cancel the contract.
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Government to transfer £2.5bn of social care provision to private sector
The government yesterday announced plans to privatise local authorities’ residential and domiciliary care for adults. This would eventually shift £2.5bn a year of council run services to private and voluntary…
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ELP Properties sells John Sinclair House in Edinburgh for £5m
ELP Properties has sold John Sinclair House in Edinburgh for £5m, reflecting a yield of under 8.5%. The 3,000 sq m (32,292 sq ft) office building is let to the…
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Funds buy Prince’s Square, Glasgow, from Guardian Properties for over £35m
Clerical Medical and Hermes have agreed to buy Prince’s Square, in the centre of Glasgow, for more than £35m from Guardian Properties.
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Prison bosses protest against holiday camp-to-prison conversion
The Prison Governors Association is expected today to say that plans to convert a disused Pontins holiday camp, near Morecambe into a temporary prison should be stopped because they are…
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Waterstone’s to open US-style book superstore in Glasgow
Waterstone’s plans to open a US-style book superstore in Glasgow next autumn. It will be the largest new book store in Britain for more than 50 years.
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Clerical Medical and Hermes buy Glasgow’s Princes Square for over £35m
Clerical Medical and Hermes have bought Glasgow’s Princes Square shopping centre for over £35m. The 7,630 sq m (82,000 sq ft) speciality fashion centre was introduced to the funds by…
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Virgin cinemas to anchor Fountain Park leisure scheme in Glasgow
Virgin Cinemas will anchor the £40m Fountainpark leisure scheme in Edinburgh city centre with a (60,000 sq ft) 13-screen multiplex. Set for Summer opening next year, the scheme – developed…
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Royal London acquires shop on Glasgow’s Sauchiehall Street from L&G
Royal London Asset Management has bought 115 Sauciehall Street in Glasgow from Legal & General Assurance Society for £1.03m. The sale price reflects a net initial yield of 6.6%.
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Virgin takes over InterCity West Coast today
Richard Branson’s Virgin Group takes over the InterCity West Coast service linking London and Glasgow today. Virgin plans to spend £750m on new trains.
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WAGN wants to cut commuter train services
West Anglia & Great Northern Railway (WAGN) has announced plans to cut peak time commuter trains by a third. WAGN runs services in Hertfordshire, Cambridgeshire, Bedfordshire and Essex.