LONDON-Marylebone Warwick Balfour has announced a package of cuts at its MWB Business Exchange subsidiary which will see six serviced office centres closed. The group says occupancy levels are beginning to improve but licence fee levels are still under pressure.

LONDON-PrimePitch, the listing service backed by agent Churston Heard has injected $425,000 into Propex, the struggling investment trading system. PrimePitch will take a 33% stake in the business alongside a group of major property investors and its founders.

LONDON-Office rents in the Golden Triangle, west of London, will have fallen 20% by the end of this year, according to Rogers Chapman. The firm says landlords are disguising the reductions with generous incentives.

LONDON-Marks & Spencer has raised more money from its property portfolio with a $470-million securitisation. It will sell and leaseback 45 prime high street stores to a specially-created subsidiary which will then securitise the income and return the proceeds to the company.

MANCHESTER-Quorum Developments has let all of its 17,333-sf Adlington Court office development in Poynton, South Manchester, to advertising agency McCann Erickson.

LONDON-Values for smaller hotels in London are holding up well despite the slump in international tourism, according to new research from Chesterton.

LONDON-The office market in fringe districts like Soho has suffered since 11 September, but other parts of the West End like Victoria and Westminster appear relatively unscathed, according to new research from Lambert Smith Hampton.

LONDON-UK consumer spending has remained buoyant following the 11 September terrorist attacks, and according to Knight Frank this should mean a stable retail real estate market despite economic pressures.