Last night the creme de la creme of the UK property industry enjoyed an evening at the fifth annual EG Awards at Grosvenor House, Park Lane. The awards were presented by comedian Rob Bryden and National winners included Jones Lang LaSalle as National Property Adviser of the Year Offices and Argent as the National Property Company of the Year Offices.
The evening was enjoyed by all and one suspects that there may be a few sore heads this morning!
LaSalle Investment Management's 11th European Regional Economic Growth Index reports that Munich has knocked London from the top of its list of best European cities for real estate investment for commercial property occupiers in the medium term - the first time this has happened for four years.
Paris is also rated ahead of London, in second place. And Dublin has fallen from fifth place to 73rd.
The Financial Times says the findings appear to conflict with the attitude among many investors because of the large amount of capital looking to invest in London property. LaSalle said London was still attractive but Munich and Paris could be stronger over the medium term.
The recent talk of green shoots has certainly reinstalled some sense of encouragement to the property market over the past few weeks. Investors have been searching the capital for shrewd investment opportunities and a lack of prime stock appears to be a probing issue as those looking to take advantage of bottomed out pricing and a strong exchange rate finally prepare to loosen their purse strings.
The recent news that Great Portland Estates is closing in on a deal to purchase Marcol House, a development site on Regent Street above All Bar One, from Dubai backed P&O Estates is also an indication that confidence in the market is improving.
The site, valued at around £30 million, has planning consent for a 120,000 sq ft office-led scheme and is also of interest to Property Merchant Group.
One source said: "It is a classic sign of the market turning when investors buy speculative development sites again."
But is this a little too much a little too soon. SEGRO CEO Ian Coull seems to think so. He said:
"Over the next two years, you need to be very careful. Each of the property downturns I have experienced, there has been a blip up - then down. If you are able to withstand a further downturn, great, there is a fantastic set of opportunities out there. But do not put yourself in a position where you think it is just going to go up all the way again."
It was more bad news this week from the (ONS) Office of National Statistics as employment levels in Britain hit 2.47 million almost 8%. The increase was broadly in line with those of recent months, however there appears to be little sign that the increases in unemployment would slow any time soon.
The TUC general secretary Brendan Barber said "There are now over a million people more out of work than six months ago and one in three of these is under the age of 25. There are no signs of recovery here."
With the banks sitting tight on commercial lending those out of work are likely to struggle as organisations place freezes on recruitment and several continue to go under.
The ONS also reported that average earnings growth slowed sharply to 1.7% in three months to July versus the same period last year, down from 2.5% in the three months to June.
Many are concerned that this slowdown in pay growth will inhibit the economic recovery, and despite talk that the recession is over, consumer confidence is likely to remain low for some time to come.
Staff at One Canada Square, the tallest building in Britain, yesterday found themselves in a very sticky situation indeed after reportedly receiving the following email. "Due to a major leak, the entire water supply to the building has been disconnected hence the toilets and air conditioning are out of action."
With approximately 9,000 people working in the Canary Wharf building spread over 50 floors i am sure this must have led to chaos. Lets just hope this email didn't go out at 09.30am.
Argent's Kings Cross Central Limited Partnership has reportedly shortlisted several ideas for the redevelopment of a 25-meter high grade II-listed gas holder at the development next to St Pancras Station.
Despite being decommissioned in the eighties the structure, which overlooks Regent's Canal, cannot be moved and has prompted a competition to decide the best use of the space. 
One concept includes a giant slide around the edges of the gas holder and a rooftop trampoline. The trampoline's base would form the roof of a community centre below. The scheme's designer Tarek Merlin, of Feix and Merlin in Southwark, said: "We wanted people to experience the holders up front, up close and at height."
The shortlist also includes a proposal by Hakes Associates for a giant silver ball to act as a mirror in the middle of the gas holder.
There has also been talk of an events venue with gardens and a proposal for a "serene" pavilion and landscaped green space. Ian Lerner, of the King's Cross Conservation Area Advisory Committee, said: "It has to provide a focal point and be used to make sure people stay in the area in the evenings."
Bridget Evans, of the King's Cross partnership's parent company Argent, said: "The gas holders are an important reminder of industrial past. It's exciting that we can blend a new idea with such an important heritage feature."
It seems odd that a structure which has been unused for over 20 years can generate such wacky ideas, but are the suggestions likely to be a success or simply money down the drain?
The winner of the competition is to be named next month.
The Shell Centre on South Bank was turned to gold this week, but no this is not the works of a new bond film and the return of Auric Goldfinger.
The building is being used to promote Hasbro's new version of Monopoly, "Monopoly City Streets", which uses Google Maps to allow the players to establish a property portfolio across millions of streets worldwide. Online players can buy or develop football stadiums and skyscrapers as well as the usual houses and hotels, and can play against opponents internationally in an attempt to build a property empire online.
A unique concept indeed, but surely the arguments of how much each player has stolen from the banker, and the marathon long Christmas day duels would be missed?
The news that Nomura has taken space at
The 500 ft tall tower, the eighth tallest in
He goes on to suggest how Nomura "does not want to be associated with failure" and that the property is "too good to become a white elephant" suffering rejection from prospective tenants purely because of its previous occupiers downfall.
But with a limited amount of good quality, large floor plate stock available in the City, and tenant requirements beginning to re-surface, it may not be all bad news for the tower as
It is the banks which have been making the headlines this week with Nomura, and its decision to relocate to the newly constructed Watermark Place, 90 Upper Thames Street, EC4, the focus of many of the papers.
The letting will see staff, including those retained from Lehman Brothers, relocate to the City from its offices at 25 Bank Street in Canary Wharf in a deal which is set to buck the City take up figures by 477,000 sq ft. It is also the largest ever letting of physical built-out stock in the City.
But it is the terms of the contract which are of increasing interest and which has created wide spread confusion.
After searching the web and making enquiries, Peter Bill's post on the matter appears to clear up some of the confusion.
