Conversions threaten jobs November 20, 2014 OFFICE-to-residential conversions could “irreparably” lead to thousands of job losses in the heart of central London, the Westminster Property Association (WPA) warned yesterday. The White Paper published by the WPA has found that Westminster has lost enough office space for 78,000 workers as a result of the government relaxing rules on the conversion of offices [...]
Essential Living wins funds for Build-to-Rent November 27, 2014 RESIDENTIAL Landlord Essential Living has become the first company to receive funding from the second phase of the government’s build-to-rent fund, paving the way for three private rented sector developments in London and the south east. The company said today it had secured a three-year £51.6m loan from the Royal Bank of Scotland and the [...]
Kier Group’s 2015 international contracts already total £145m January 19, 2015 CONSTRUCTION firm Kier Group announced yesterday that it has been awarded over £145m of new construction contract awards in the Middle East since the start of the year. In Dubai, the property, residential, construction and services group has been named preferred bidder for a £100m mixed-use development and two infrastructure contracts totalling £15m. Meanwhile, the [...]
Mansion tax talk and cooling London house prices fail to dent Savills expectations November 18, 2014 Upmarket estate agent Savills is weathering the moderation of the London property market and the fall in commercial trading volumes in Hong Kong, as other global hotspots continue to perform. In an interim statement published today, the group said it has been affected by the threat of a mansion tax, which could be implemented after [...]
City Moves for 21 January 2015 | Who’s switching jobs January 20, 2015 IAG UK Fund Administration The fund administration services provider has appointed Alan Ross as commercial director. He joins from BNP Paribas, where he was senior sales manager for securities services. Ross has also held roles at BNY Mellon, Arjent Alternative Investments, FSL Services, and RBS. London & Capital Guy McGlashan has been appointed chief operating [...]
New Scotland Yard sold for £370m to Abu Dhabi Financial Group – netting unexpected £120m December 9, 2014 News Scotland Yard, the central London home of the Metropolitan Police, has been sold to a group of Abu Dhabi investors for £120m more than the building’s guide price. The Abu Dhabi Financial Group has been revealed as the buyer of the 1.7 acre, 600,000 sq ft site in Victoria, paying £370m after what was [...]
Which London street is the most expensive to live on? Belgravia beats Kensington and Chelsea December 12, 2014 Grosvenor Crescent, near Buckingham Palace, has been named London's most expensive street to live on, according to new research by Lloyds Bank. Home buyers who want to live in one of the prestigious crescent's white Georgian townhouses will, on average, have to shell out a whopping £16.9m. It's located in high-end Belgravia, one of the wealthiest [...]
Brits drawn to Soho homes: 15 Hollen Street is latest development in once subversive London district January 15, 2015 In Victorian times, Soho was a murky and dangerous district. Home to London’s original red light district, it was the place where the gentry mixed with poverty-stricken artists. Nowadays, you’re more likely to bump into an advertising executive sipping a mocktail than a lady of the night, but it’s still a thriving cultural hub with [...]
London average house prices top £600,000 for the first time November 16, 2014 The average price of a residential London property has risen above £600,000 for the first time but signs of cooling are evident. The break through the £600,000 barrier in house prices in November marks just a 0.8 per cent increase on October’s figure, according to data released today by online property market platform Rightmove. Rightmove’s [...]
Dalian Wanda puts One Nine Elms homes on sale October 20, 2014 Another 200 homes will go on sale in London’s Nine Elms regeneration area as China’s biggest property company prepares to launch its £700m residential scheme this week. Dalian Wanda, which is led by the country’s wealthiest man Wang Jianlin, bought the Market Towers site at Vauxhall last year from Irish developer Green Property, marking its [...]