LONDON-Planning and Housing Minister Sally Keeble will today unveil the new code of practice on commercial leases, which aims to inject new flexibility into the UK commercial property market.

LONDON-Aviation and armaments group BAe Systems has bought a 12.7-acres site in Luton, Bedfordshire for a new 220,000-sf research and development facility.

LONDON-The Home Office has triggered one of the biggest central London office development by agreeing to relocate from Petty France to the former Environment Department site in nearby Marsham Street.

LONDON-Chancellor of the Exchequer Gordon Brown's sixth budget avoided the temptation to tax property more heavily, but some industry experts point to missed opportunities.

LONDON-Citigroup has started sub-letting surplus space in its million-sq ft tower at Canary Wharf. Law firm Allen & Overy has taken the 29,000-sf 33rd floor of the tower building at 25 Canada Square, and in all the bank plans to sub-lease over 300,000 sf.

London-A private investor has bought Morley Fund Management's 33,000-sf investment at 7-10 Waterloo Place in St James's for pounds 19 million ($27 million)

London-A private investor has bought Morley Fund Management's 33,000-sf investment at 7-10 Waterloo Place in St James's for pounds 19 million ($27 million).

LONDON-Commercial property rental values fell for the first time since 1993 during the first quarter of 2001, according to CB Hillier Parker, but yields have stabilised as investor sentiment towards property warmed.