Singapore firm to develop new London village November 4, 2013 SINGAPORE-based property group Oxley Holdings has snapped up Royal Wharf, the largest mixed-use site sold in London since Battersea power station. Oxley now intends to build 4,000 residential properties on the 40-acre space, along with a number of attached facilities. The development is less than three miles east of Canary Wharf, one of London’s finance [...]
House prices to jump eight per cent in 2014 as supply stays low December 18, 2013 THE CHRONIC lack of supply in Britain’s housing system will drive the market again in the year ahead, pushing property prices even further ahead of wage increases. The Royal Institution of Chartered Surveyors (RICS) today reveals their forecasts for the housing market in 2014, projecting prices to climb by another eight per cent. In comparison, [...]
Lower oil prices hit FTSE after Saudi cuts costs – London Report November 4, 2014 BRITAIN’S top equity index yesterday edged lower, hit by losses in heavily weighted oil and gas stocks after the price of Brent crude slid to its lowest point in four years. Falls in the oil and gas sector stripped 30.6 points off the FTSE 100, which closed down 34 points, or 0.5 per cent, at [...]
City Moves for 13 January 2014 | Who’s switching jobs January 12, 2014 Smith & Williamson The accountancy and wealth management group has announced the appointment of Tina Riches as national tax partner. She was most recently at the Chartered Institute of Taxation, where she was a technical director. Royal Bank of Canada The bank has recruited Tim Houghton as head of business development in its wealth management [...]
Standard Chartered would do better being more upfront December 16, 2013 BEFORE and during the financial crisis, which rocked so many banks to their foundations, Standard Chartered could seemingly do nothing wrong. While their rivals dodged in and around write-downs, rescue rights issues and increased impairment charges, the stock of both chief executive Peter Sands and his ebullient finance director Richard Meddings rose sky-high. So highly [...]
Lloyd’s of London comes to a halt to honour Armistice Day November 12, 2013 THE UNDERWRITING room at Lloyd’s of London fell silent yesterday morning as employees gathered to observe the traditional two minute silence to mark the 95th anniversary of the World War One armistice. Chelsea pensioners joined staff at the ceremony, which saw a ceremonial piper play to the assembled crowds before a wreath-laying ceremony underneath the floor’s [...]
Great Portland wins consent at Rathbone Place October 16, 2013 GREAT PORTLAND Estates has won planning approval to go ahead with redevelopment of the Royal Mail’s old sorting office in what is expected to be one of the company’s largest and most profitable developments to date. Westminster Council approved plans on Tuesday night to redevelop the 2.3 acre site off Oxford Street and build 42,000 [...]
Bottom Line: The right rules keep Docklands growing October 28, 2013 THE TRIUMPHANT transformation of Canary Wharf is an object lesson in the power of visionary funders, able to see the long-term potential in neglected sites. But it also shows the benefits of the right regulatory environment, founded as it was on an enterprise zone. Thanks to the recent Royal Docks enterprise zone, established in 2012, [...]
Our guide to the best investments November 7, 2013 London property prices are sky-rocketing, so what better time to invest with the rest? RIGHT now, investing in a London home looks like a pretty smart move. Asking prices saw a 10 per cent increase last month and, with low-deposit schemes like the government’s Help to Buy initiative, more people are looking to invest in [...]
What the other papers say this morning – 27 February 2014 February 26, 2014 FINANCIAL TIMES Hester to shore up RSA with £1.5bn Stephen Hester is finalising plans to shore up RSA’s balance sheet by as much as £1.5bn with one of the biggest equity raisings by a UK insurer, said people with knowledge of the matter. The former Royal Bank of Scotland chief, drafted in to run RSA [...]