David Cameron is heading for turbulence over Heathrow July 1, 2015 Sir Howard Davies did Prime Minister David Cameron no favours yesterday when he recommended building a third runway at London’s Heathrow Airport, a proposal that Cameron had previously ruled out with “no ifs, no buts.” Davies’ conclusions shoved Cameron into yet another political firestorm, with pressure mounting last night from senior members of his own [...]
Crown Estate and Norges Bank seize Mayfair estate for £381m August 10, 2014 The Crown Estate and Norges Bank Investment Management (NBIM) have snapped up a large chunk of Mayfair for £381m after fending off fierce competition from other property rivals. The pair said yesterday that they have bought a 64.2 per cent stake in the Pollen Estate from the Church Commissioners for England. NBIM has purchased 57.8 [...]
Wealthy Russians push up rents by paying annual cost upfront March 30, 2015 WEALTHY tenants from Russia, Ukraine, Nigeria and China are pushing up high-end rents in the capital by paying for an entire year of tenancy upfront, a new study has suggested. Upmarket lettings agency EJ Harris said the number of wealthy foreign investors paying annual rents upfront had doubled in the past year, from one in [...]
West End landlord Shaftesbury goes shopping for £130m loan March 18, 2015 WEST END property developer Shaftesbury yesterday secured a £130m loan with Aviva, wiping out a £100m debt that was due to expire next September. The company, which owns huge swathes of London’s busiest shopping districts, including Carnaby Street and Covent Garden, said the new 15-year loan has a fixed rate of 3.2 per cent and [...]
Focus on Clerkenwell: Prices soar on the City’s edge May 7, 2015 While the Square Mile is London’s historical home of trade and finance, Clerkenwell on its northern edge is clearly the design equivalent. Since the Industrial Revolution, the area has housed craft workshops, printers, clockmakers and jewellers. The area is celebrating its rich design heritage this month with the sixth annual Clerkenwell Design Week from 19 [...]
Great Portland Estates jumps in value thanks to West End property demand January 29, 2015 Great Portland Estates (GPE) yesterday posted a 5.2 per cent surge in the value of its property portfolio, thanks to London’s booming West End property market, despite increased uncertainty ahead of the upcoming general election. The FTSE 250 developer said the value of its estate was worth £3.07bn at 31 December, up £152.3m on the [...]
Bijoux – that is, tiny – flat in Mayfair rented in record time March 9, 2015 YOU COULD probably just about swing a cat in a one-bedroom Mayfair flat that was yesterday let at record speed. Boasting just 301 sq ft, the “bijoux” flat in Pollen Street, between Hanover Square and Regent Street, took just 40 minutes to let for up £1,560 per month. The new tenant, an “executive in the hospitality [...]
A digital billboard revolution: The top out-of-home advertising sites changing the face of London November 2, 2014 In creative terms, advertising mediums can be split into “hot” and “cool” media. This distinction was first put forward by Canadian media critic Marshall McLuhan 50 years ago. The difference is that hot media grabs you, whereas people actively choose to get involved with cool media – the audience does the grabbing. Print, cinema, [...]
London taxi drivers protest on Oxford Street: Everything you need to know April 21, 2015 Black cab drivers today staged a highly visible protest that caused significant inconvenience in central London. Here's everything you need to know about the action by London cabbies. Where and when did the protest take place? The drivers started the "go-slow" protest on Oxford Street in the heart of London at 2:00pm, bringing Oxford Street [...]
The mansion made for Versace where Mayfair meets Milan March 12, 2015 Many houses are marketed as a fusion of the old and the new, east meets west or even luxury meets shabby chic. But 50 Charles Street is a rare fusion of Mayfair mansion and Milanese palazzo. This unusual combination is the result of one of London’s most ambitious conversion projects, designed to woo one of [...]