LONDON-Land Securities has bought Greater London House for euro 171.1 million ($208.2 million). The deal, which reflects an initial yield of 6.8%, is part of the new strategy adopted since Francis Salway formally took over the reins of the company earlier this month.

LONDON-Land Securities bought Greater London House for €171.1 million ($208.2 million). The deal, which reflects an initial yield of 6.8%, is part of the new strategy adopted since Francis Salway became chief executive earlier this month.

LONDON-British Land has finally appointed a chief executive to replace John Ritblat. After 16 months of head-hunting, the property company has landed the chief operating officer of the bank Abbey National as its new leader.

LONDON-Birmingham has seen one of the city's biggest deals ever. The Birmingham Alliance has finally agreed to the sale of Martineau Place on Corporation Street to a private property company for €140 million ($171 million). Last year negotiations to sell the centre to DB Real Estate collapsed.

LONDON-Quintain Estates has secured mayoral support for its proposed €2-billion ($2.4-billion) regeneration scheme around Wembley football stadium in North London. More than 700,000 sf of office are in the plan. Now the company just needs to secure the support of the government of its five-million-sf development.

LONDON-Shopping Centre owner Liberty International is anticipating significant rent increases when the next round of reviews takes place later this year. The company presented an upbeat picture of prospects for the retail property sector when it unveiled interim results this morning.<P>

LONDON-The government has revealed that it will bring forward legislation for a new €15-billion ($18.6-billion) rail link to straddle the city of London. But much of the funding for it is expected to come from land developers along the route, who could garner a fourfold increase in values.

LONDON-Industry lobbyists have called on the government not to over-regulate trusts that offer tax breaks to individuals who invest in property. Ministers are currently consulting on REITs, but the industry is concerned that too much red-tape would stifle interest in them.