Charity letting boosts property market In a sign that the Liverpool property market is still able to pull off the big deals, Northern Trust has secured one of the largest lettings in the city this year. The Roy Castle Lung Cancer Foundation has leased Building 1000 at its £5m Vortex Court development at Wavertree Technology Park. The growing charity has taken the 14,202 sq ft building on a ten-year lease and the move was funded with the help of Liverpool University and the Northwest Regional Development Agency. Mark Worthington, director at property agency CBRE acting for Northern Trust, said: "This letting is the largest out-of-town letting so far in 2008 and follows on from Vortex Court securing the largest out-of-town letting in 2007. Well-appointed, high-specification space in accessible locations remains attractive to the market."

Peel Holdings’ £500m Trafford Centre España has become the latest victim of the global economic slowdown. The 80-acre development at Torremolinos on the Costa Del Sol is due to receive its final planning approval from Spanish authorities in October. But the man driving the project from the UK, Peel Developments director Lindsey Ashworth, has told Insider nothing will happen on site for some time. “Until the market picks up and is right that will be it,” he said. Asked how long he will wait, Ashworth added: “We are probably looking at at least two years.” Peel had hoped to start work on the site next year ahead of a 2011 completion. “You cannot exclude yourself from the world’s problems,” added Ashworth. “Securing funding and finding tenants in the present market is difficult.”