As normal here is my pick of the week’s 5 most interesting stories in commerial property & construction.
MIPIM ( and the small matter of Drivers Jonas)
Drivers Jonas has lost a legal battle with the organiser of the annual MIPIM conference in Cannes over its hiring of a café away from the official event venue to conduct business. The property services firm, which is this week sealing its merger with Deloitte, has been ordered by the Tribunal de Commerce de Paris to pay €100,000 in damages to Reed Midem. The tribunal, found that Drivers Jonas had contravened MIPIM rules, saying that Drivers Jonas’s hiring of the Pavillon Croisette café last year constituted a “stand” and that it had conducted business outside the office Palais des Festivals venue, similar to that taking place inside the venue. I can’t help repeating a Tweet that I saw a day or so ago: French/Franglais phrases you won’t need at #MIPIM: “Excusez-moi Monsieur. Où est le café de Drivers Jonas?” courtesy of @paddythedaddy (Revolution PR joint MD, Andrew Barber).
GVA Grimley adjust the seating arrangements.
GVA Grimley has appointed a new chairman and chief executive as it positions itself for expansion in property’s recovery. The £137m-a-year firm has announced that planning expert Stephen Brown is to become executive chairman, and investment expert Rob Bould chief executive. Brown will take over from Steve Halbert, the former KPMG Corporate Financier who steps down 14 months after replacing insolvency expert Bob Barnett at the helm. If you are interested in this then I’d commend Peter Bill’s blog entry: The top deck at GVA Grimley is looking a little crowded.
Grosvenor House Hotel / CBRE
CBRE Hotels has been exclusively appointed to sell the Grosvenor House Hotel in London, the adviser announced in a press release. The Grosvenor House is the largest hotel asset to ever come to the EMEA market, the adviser added. Located at Park Lane/Mayfair, the iconic hotel recently underwent a £135 mln refurbishment. Derek Gammage, Managing Director CBRE Hotels EMEA: ‘We are truly delighted to have been appointed and to be part of this historic opportunity. The JW Marriott Hotels and Resorts operated Grosvenor House is an iconic asset that will appeal to global investors.’
British Land – Head of Retail Appointment
British Land announced the appointment of Charles Maudsley to head the group’s EUR 5.8 bn Retail business in the UK and Europe. Maudsley will also retain his current role as executive director for Business Expansion. In addition, Ben Grose, who has been with British Land since 2005, has been appointed head of Retail Asset Management, reporting to Charles.
CBRE Appoint Head of City of London Investment
CB Richard Ellis has appointed Robert Silvester as the head of its City of London investment team. Silvester joins from Rock Asset Management where he was responsible for more than £850m of commercial real estate transactions, and a portfolio valued at £250. Adam Hetherington, head of Central London at CBRE, said: “Robert brings a wealth of experience and knowledge to CBRE’s Central London offering. Robert has been a client for many years and has worked very closely with our Global Corporate Services team who are the source and engine room behind many of the recent high profile City investment deals we have undertaken in the last 18 months. His appointment will further cement our position as the number one player in the City.”
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