LONDON-The British Airways pension Fund has bought Phase 2 of the Straiton Retail Park in Edinburgh from Haslemere for pounds #17.7 million ($28 million).

LONDON-Struggling food retailer Somerfield has raised a further pounds 21.4 million ($34 million) with the sale and leaseback of its 330,000-sf distribution hub in Wellingborough, Northamptonshire.

LONDON-London Underground has produced a revised proposal for the redevelopment of Camden Town underground station in North London, to include offices, shops and apartments, after an earlier scheme was rejected.

LONDON-Lend lease has started construction work on its latest UK retail project, the 600,000-sf Chapelfield mall in Norwich, Norfolk. The scheme is 60% pre-let three years ahead of completion.

LONDON-New laws to speed up property transactions were promised in yesterday's Queen's Speech, which sets out the Government's legislative programme for the coming year. The move has been welcomed by property market commentators.

LONDON-Morley Fund Management and Gazeley Properties--the European property arm of Wal-Mart--are to develop a prime 20.5-acre industrial/distribution site on the M25 London Orbital Motorway in Waltham Cross.

LONDON-German investment into UK real estate is expected to exceed euro 1 billion ($1 billion) in 2002 for the first time since the 1990s according to new research from DTZ.

LONDON-Arthur de Haast, the London-based European CEO of Jones Lang LaSalle Hotels, is to step up to become the firm's Global CEO, replacing Australian Peter Barge from January 2003.