Marks and Spencer is narrowing the gap with high street rival Next, says Moody’s February 8, 2016 Marks & Spencer is closing in on its high street rival Next after boosting the profitability in its troubled clothing business by bringing more of its design in house and sourcing directly from suppliers, according to analysts at credit ratings agency Moody’s. In a note published the morning, Moody’s said Next’s credit profile is stronger [...]
Singapore’s Ho Bee Land puts Southwark’s Rose Court up for sale for £100m February 3, 2016 Singaporean investor Ho Bee Land has put a government office building on the south bank up for sale with a price tag of £98m. The company has hired agents at Savills to sell Rose Court, three years after buying the building for around £67m from Scottish Widows Investment Partnership. The site, next to Southwark Bridge, [...]
House price growth dips as UK housing value increases by £1.8 trillion in 10 years December 8, 2015 The value of the UK's housing stock has jumped by £1.8 trillion in the past decade, research by Halifax showed today. UK homes are now worth £5.1 trillion, a 53 per cent jump from £3.3 trillion in 2005. That's a £76,316 rise for each home in the UK. The news came as Halifax reported annual house price [...]
Pub sector raises glass to economic recovery as more properties change hands January 5, 2016 The pubs property sector enjoyed a resurgence in deal activity last year thanks to the economic recovery and improved consumer confidence, new research shows. The number of significant corporate deals that took place last year was similar to the number in the previous year, according to Fleurets, a commercial estate agent specialising in selling pubs. However [...]
Estate agent Foxtons tries to spread Christmas cheer with share buy back – as its share price edges higher December 16, 2015 Struggling estate agent Foxtons has announced a buyback of shares, in an attempt to spread a bit of Christmas cheer to shareholders, who have watched its shares fall more than 37 per cent from their peak this year. The company said the share buy back, which will start today, is "in line with [its] policy of [...]
M&G Real Estate buys Bloomberg’s new European headquarters in the City for £93m December 17, 2015 M&G Real Estate has bought Bloomberg’s new European headquarters near Mansion House in the City, in a £92.5m deal. The fund manager said it has bought the freehold ground lease of Bloomberg Place from Legal & General Property, which put the site up for sale two months ago after more than 60 years of ownership. The vast 750,000 square feet [...]
London mayoral election 2016: Conservative candidate Zac Goldsmith lays out “vision for London” January 19, 2016 Conservative candidate for Mayor of London Zac Goldsmith will today set out his vision for London if elected in May. The Richmond Park MP's plan aims to "build on the city's economic strength" under current mayor Boris Johnson, and will focus on four key areas: housing, transport, living environment and crime. "We can take London’s success and make [...]
UK house prices: London property prices to rise a third by 2019 as demand continues to outweigh supply November 9, 2015 London house prices will rise by almost a third between this year and 2019, new research has found, as demand in the capital continues to vastly outweigh supply. The CBRE Regional Development Land report forecast nine per cent growth this year, rising to 31 per cent by 2019. In the wider South East, prices will rise six [...]
Budget 2016: Here are the reactions to Osborne’s announcements on sugar tax, corporation tax, Insurance Premium Tax, Isas, education and growth prospects March 16, 2016 George Osborne has just announced some Budget surprises – a sugar tax, longer school days – as well as an increase in sin taxes on tobacco, alterations to ISAs and savings, and corporation taxes. Here's what analysts are already saying about the chancellor's latest agenda on… Personal allowance David Kilshaw, private clients services partner, EY [...]
Proptech: Technology is poised to transform the UK housing market February 19, 2016 The phrase “fintech” has long since entered mainstream use, while buzzwords like adtech, edtech and medtech are becoming increasingly familiar too. Now a newish category is entering the technology startup lexicon: “proptech”. The UK’s property industry has remained stubbornly resistant to change, even as innovation reshapes entire verticals across the wider economy. Compared with, say, [...]