Bond Street moves into third for world’s most expensive retail spot Retail Bond Street has leaped-frogged Tsim Sha Tsui in Hong Kong to take bronze in a list of the world’s most exclusive retail streets. The shift bucks bucks fears about the decline of brick-and-mortar retail on the high-street and the so-called tourist tax, which has faced campaigners’ calls for scrappage. The average rent on Bond Street [...]
Has London’s commercial property market finally recovered from the pandemic? Property High-quality office space in London has “continued and sustained appeal” in London, with property take-up finally exceeding pre-pandemic levels, while retail vacancy rates have similarly dipped to their lowest level since 2019. Cushman & Wakefield and Savills have both reported that the central London property market has begun to stabilise, while British property investment trust [...]
Landsec returns to profit as London property market stabilises Property British property investment trust Land Securities, known as Landsec, swung back into profit and hiked its forecast for the year today after a rebound in occupancy and rental income in London. Landsec told markets this morning that it had returned to the black in the first half of the year, reporting profit after tax of £243m [...]
Demand for sustainable buildings drives office space take-up in London August 2, 2024 Leasing activity increased notably in the second quarter of the year, driven by financial firms and demand for sustainable office space.
UK restores housebuilding targets and sets out green belt review in planning push July 30, 2024 Keir Starmer and Rachel Reeves’ Labour government has unveiled a series of reforms to the planning system, including a review of the green belt, to help address “the most acute housing crisis in living memory.” Under new policies confirmed today, local authorities will again be given mandatory housing targets to help “pave the way” to [...]
Cineworld set to cut hundreds of roles amid plans to shutter cinemas July 25, 2024 Planned closures will slash Cineworld’s British footprint by at least a quarter, with around six cinemas to begin winding down immediately.
Cineworld in talks to axe a quarter of UK sites two years after debt crisis July 16, 2024 Cineworld first ran into trouble in 2022, when a share price collapse in light of a debt crisis led it to de-list from the London Stock Exchange.
Housebuilding giants Bellway, Berkeley and Barratt laud Reeves’ planning pledge July 8, 2024 Some of the UK's largest property and housebuilding firms have welcomed the new Labour government's promise to "get Britain building again" with a reintroduction of compulsory housebuilding targets, calling them "hugely encouraging".
Knight Frank: Investment in UK hotels jumps 50 per cent in a year July 1, 2024 Major deals by Blackstone, Landsec and Starwood Capital contributed to over £3bn of investment into UK hotels in the first half of 2024, already surpassing the total for last year by 50 per cent, Knight Frank data has revealed.
Landsec: Property giant ups stake in Bluewater shopping centre to two thirds June 25, 2024 Property giant Landsec has acquired an additional 17.5 per cent stake in Bluewater, the out of town shopping centre in Kent, taking its overall ownership to over 65 per cent.