LONDON-Aberdeen Property Investors has sold its Sunshine mixed-use portfolio to Siemens Benefits Scheme Limited, for around pounds 56 million ($91million) reflecting an initial yield of around 7.5%.

LONDON-A consortium including Jones Lang LaSalle has launched a bid to take over London's Crossrail project. It plans to finance the multi-billion pound project with the profits from property development above the five new stations planned for central London.

LONDON-New research from CB Richard Ellis shows that office rents are falling in all the world's major office centres, but London's West End remains the most expensive office location in the world.

LONDON-In the biggest-ever deal in the out-of-town retail sector a consortium led by Pillar Property and including Hercules Property Unit Trust; Morley Fund Management and the Junction Limited Partnership has paid pounds 695 million ($1.11 billion) for Kingfisher's Chatrtwell Land portfolio.

LONDON-The queue of bidders at struggling food retailer Safeway now stands at five following confirmation from entrepreneur Philip Green that he is considering an all-cash offer. Over the weekend US buyout specialist Kohlberg Kravis Roberts also confirmed it was considering a mover to buy back Safeway, which it owned for a short time in the 1980s.

LONDON-Gleeson Properties has acquired a 9-acre site in Dalston Road, Carlisle, Cumbria, next to the Pirelli tyre factory and has agreed to lease to Pirelli a 130,000 sq ft distribution warehouse.

LONDON-New research from Jones Lang LaSalle says the City leasing market is slower than at any time since its records began in 1984 with just over two million sf absorbed in 2002. The West End had its worst year for a decade with 2.5 million sf taken up.

LONDON-Distribution ptroperty specialist proLogis has by Rugby Council to build a new 446,000-sf distribution warehouse for publishing group Pearson at Central Park, Rugby, Warwickshire.