LONDON-Distribution property specialist ProLogis has been given detailed planning permission by Rugby Council to build a new 446,000-sf distribution warehouse for publishing group Pearson at Central Park, Rugby, Warwickshire.

LONDON-The Ashtenne Industrial Fund Limited Partnership has added another #40 million ($64 million) of properties, bringing its purchases since January 2002 to over pounds 100 million ($160 million).

LONDON-In what one of the largest ever shopping centre portfolio deals in the UK, private investment company CIT has completed the pounds 325 million ($520 million) acquisition of the Charterhouse Shopping Centre Funds I & II from HSBC Property Fund Management.

LONDON-Great Portland Estates has raised pounds 74.6 million ($120 million) in three separate transactions as part of its strategy of re-shaping its portfolio to concentrate on central London offices.

LONDON-The German open-ended property fund Commerz Grundbesitz-Invest has paid pounds 88 million ($142 million) for Morley Fund Management's recently refurbished 100 Leadenhall Street in the City of London. The purchase price shows an initial yield of around 6.75%.

LONDON-Over pounds 1.3 billion ($2.1 billion) was invested in Central London offices in the fourth quarter of 2002 according to Insignia Richard Ellis, bringing the annual total to pounds 6.5 billion ($10.5 billion). Demand was strongest in the West End.

LONDON-McKay Securities has completed the first letting at Pegasus Place, its 50,835-sf speculative office scheme in Crawley, West Sussex, to Rokbuild, part of Rok Property Solutions which is taking 12,789 sf.

LONDON-Office absorption in central London was the lowest since 1995, according to new research from CB Hillier Parker, with the City financial district particularly badly hit by the downturn.