Woodroffe to open Yotel in New York City March 1, 2010 YOTEL, the hotel chain set up by Yo! Shushi founder Simon Woodroffe, yesterday announced it is opening for business in New York. The hotelier will next year launch a property with 669 rooms of 170 sq ft each, marking the first time the Yotel chain has ventured outside its existing international airprot locations. The group [...]
Q&A: BUYING November 5, 2009 Camilla DellMANAGING PARTNER AT BLACK BRICKQ. Dear Camilla, I am in the process of buying a house and my surveyor has found some structural problems. Should I be worried? Can I negotiate the price down in order to pay for these faults? At what point should I pull out? A. You should talk to your [...]
Q&A: renting February 18, 2010 James Davis MANAGING DIRECTOR OF UPAD.CO.UK Q.Dear James, I need to move for a new job, but I can’t sell my house. I’m going to rent it out for now and see if the market picks up. A friend said I have to tell my mortgage lender. Is this true? Won’t they just make me [...]
Galliford secures new properties February 11, 2010 HOUSEBUILDING and construction group Galliford Try yesterday acquired the 50 per cent share held by Bank of Scotland in four residential development joint ventures in and around London. The property group handed over a nominal £1 for each of the sites and paid off the £42.5m debt held by the Bank of Scotland. Galliford Try [...]
Arsenal’s profits rise as property is snapped up September 28, 2009 PROPERTY entrepreneurs Raymond Mould and Patrick Vaughan yesterday swooped on Highbury Square, the residential property project being developed by Arsenal football club. The duo, who head up Aim-listed property group London & Stamford, have purchased 146 apartments plus 98 garage spaces for £41.4m. The deal comes to the aid of Arsenal, which has been struggling [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 9, 2009 FINANCIAL TIMES Banks face hike in funding costsBanks around the world face increases in funding costs that could cut profits and hit their customers as they look to refinance $7,000bn-plus in short-term debt expiring in the next three years with longer-dated bonds, according to research released today. Institutions seeking to reduce their reliance on short-term [...]
Live above the rooftops in City’s sleekest building March 18, 2010 THE Heron, the City’s first residential development in 30 years, will be second to none, from Hong Kong to LA, in terms of style, views and overall quality of design and finish. This assertion is made in a matter of fact way by Lisa Ronson, head of marketing at The Heron’s mothership, Heron International, and [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 25, 2010 FINANCIAL TIMES TOSCAFUND HAS EYE ON £500M OF MORTGAGES Toscafund, the London-based hedge fund founded by ex-Credit Lyonnais star analyst Martin Hughes, is raising capital to acquire up to £500m of UK residential mortgages. The group has already closed a £250m fund of UK sub-prime mortgages, launched late last year, sources told the Financial Times. [...]
West End booming for landlord Shaftesbury February 12, 2010 WEST End landlord Shaftesbury has seen buoyant trading over Christmas and New year, with lettings exceeding predicted prices. The company, which owns large areas of theatreland, said the West End had enjoyed a booming Christmas period. Around 70 per cent of the company’s portfolio comprises shops, restaurants and leisure and property for leisure uses but [...]
MOMENTUM IS DRIVING THE MARKETS March 15, 2010 WITH the days getting longer and the Cheltenham Festival kicking off this afternoon, there is a palpable feeling of optimism around. Despite little in the way of bullish news last week, stock indices puffed and wheezed their way higher. The S&P made its highest close in 17 months – breaking back above 1,150, which was [...]