LONDON-After more than six months of negotiation law firm Allen & Overy has signed the lease on Hammerson and the Corporation of London's 750,000-sf Bishops Square development at Spitalfields Market, on the eastern fringe of the City.

LONDON-Grantchester, the retail parks specialist that is currently the subject of a pounds 200 million ($308 million) bid from Hammerson has raised pounds 15.719 million ($24 million) with the sale of a 100,000-sf B&Q store in Dundee, Scotland.

LONDON-Birmingham City Council has agreed to invoke compulsory purchase powers to speed up its planned 1.7 million-sf regeneration scheme around Masshouse Circus to the east of the city centre.

LONDON-Hermes Property Asset Management, manager of the British Telecom and Royal mail pension funds, has invested pounds 30.6 million ($48 million) in the Ashtenne Industrial Fund, taking the total fund value to pounds 420 million ($655 million).

LONDON-Reflecting the growing institutional interest in residential investment, Baring Houston & Saunders--part of the Dutch financial services group ING--has launched its new UK Residential Property Fund with a target size of pounds 250 million ($390 million).

LONDON-Canary Wharf Group has confirmed its intention to add another 6 million sf of offices to its Docklands estate. The original masterplan for 14 million sf is now almost complete, but planning applications will shortly be lodged for two adjoining sites.

LONDON-Quintain has appointed James Hamilton Stubber, currently a National Director at Jones Lang LaSalle, as Chief Operating Officer. His main responsibility will be to run Quintain's investment portfolio.

LONDON-The Immigration & Nationality Directorate, part of the Home Office, has taken another 42,000 sf of office space in Croydon, the suburban office centre to the south of London. The move means IND has taken 160,000 sf in the town this year.