LONDON-Blackfriars Investments and Royal London Asset Management have signed a building contract for the development of the 300,000-sf Palestra development on the South Bank, the only major speculative office development in the city to start this year.

LONDON- Abbey National Asset Managers, on behalf of Scottish Mutual Assurance, has sold the 51,800-sf Ferguson House, 15-17 Marylebone Road, London W1 to a private UK investor for pounds 27.35 million ($45 million) to show a yield of about 6.4%.

LONDON-Gazeley, the property development arm of Asda Wal-Mart, has let 45,335 sf in three separate deals at Caxton Court, its 81,215-sf speculatively built warehouse scheme in Caxton Way, Watford, Hertfordshire.

LONDON-Ansbacher Property Developments and Helical Bar have submitted a detailed planning application for a 350,000-sf office scheme on the Mitre Square island site bounded by Mitre Street, Dukes Place and Creechurch Lane in the city.

LONDON-Office rents in Edinburgh and Glasgow have remained steady during 2003 despite a fall in demand, according to the latest Regional Capitals report from Atis Real Weatheralls.

LONDON-Canada Life has sold the freehold investment of Waterside Retail Park, Ilkeston, Derbyshire to Siemens Benefits Scheme for pounds 8.875 million ($14.5 million), to reflect a net initial yield of 6.78%.

LONDON-Aberdeen Property Investors has paid James Smith Estates pounds 6.65 million ($11 million) for a 3.75-acre site at Hayes, north of London's Heathrow airport.

LONDON Industrial specialist IOG has been given the green light for a 91,000-sf speculative second phase of its River Road warehouse scheme at Barking in East London.