This £45m mansion could have just netted the government £5.3m in stamp duty December 18, 2014 A 19-bedroom Mayfair mansion that's just been sold with an asking price of £45m may have just made the government £5.3m. Seven Balfour Place from the outside The 13,000 sq ft mansion, on Balfour Place, also comes with seven reception rooms, six kitchens, 17 bathrooms and a roof terrace. The company in charge of selling [...]
In pictures: Here’s what the UK’s most expensive garage will look like once it’s redeveloped October 30, 2014 A garage off the King's Road in Chelsea has sold for a staggering £550,000, it has been reported, having been on sale for a mere two weeks. The garage, which even by outbuilding standards is pretty ramshackle, is 11ft by 7ft – that's enough space for one car. Source: Google Maps The plan had originally [...]
Autumn Statement 2015: George Osborne’s speech transcript in full including stamp duty, business rates and corporation tax announcements November 25, 2015 Mr Speaker, this Spending Review delivers on the commitment we made to the British people that we would put security first. To protect our economic security, by taking the difficult decisions to live within our means and bring down our debt. To protect our national security, by defending our country’s interests abroad and keeping our [...]
City Moves for 26 November 2014 | Who’s switching jobs November 25, 2014 Standard Chartered Euan Campbell has been appointed to the newly-created role of global head of retail segments for retail clients at the bank. He joins from Santander Group, where he was executive vice president responsible for the strategic direction of its US cards business. Campbell has also held senior roles at HSBC. Cordea Savills The [...]
British Land sells just 18 flats for total of £210m September 22, 2014 PROPERTY developer British Land has sold some of the most expensive London property ever, with 18 apartments in Mayfair going for £210m. Four of the flats sold for over £5,000 per sq ft, a record for Mayfair’s property market. The so-called “super-prime” property, Clarges Mayfair, was acquired by British Land for £129.6m in 2012 and [...]
It doesn’t get more central than The Beecham in Covent Garden November 27, 2014 Covent Garden, that stretch of meandering streets off The Strand that culminates in the famous piazza, has been through every stage of London life. It started out, as many of the City’s suburbs did, as countryside, serving as gardens for Westminster Abbey. Then came its first gentrification phase when Henry VIII seized the land [...]
Met HQ sold for £370m to Abu Dhabi investor December 9, 2014 New Scotland Yard, the home of the Metropolitan Police, has been sold to a group of Abu Dhabi investors for £370m, in a dramatic shake-up of the Met’s estate. The Abu Dhabi Financial Group paid £120m more than the asking price for the 1.7-acre site in Victoria, which it plans to turn into a luxury [...]
City Moves for 20 October 2014 | Who’s switching jobs October 19, 2014 Secure Trust Bank The bank, a subsidiary of Arbuthnot Banking Group, has appointed Neil Clinton as regional sales director. He joins from Barclays, where he was head of its UK large corporate asset based lending team. Clinton has over 30 years’ experience in banking and invoice finance. Investec Wealth & Investment The wealth management firm [...]
Bestway pays Co-op £620m for pharmacies October 6, 2014 THE CO-OPERATIVE Group completed the sale of its pharmacy business to Bestway for £620m yesterday, with the funds going to pay down some of the mutually owned company’s debts. The completion follows the announcement this summer that Bestway had fought off competition from other suitors for the 774-store chain, including Lloyds Pharmacy, Carlyle Group and [...]
The Co-operative Group completes £620m pharmacy deal with Bestway October 6, 2014 The Co-operative Group has completed the sale of its pharmacy business to Bestway for £620m today, with the funds going to pay down some of the mutually-owned company's debts. The completion follows the announcement this summer that Bestway had emerged victorious from a hotly contested bidding war for the chemist arm. Bestway fought [...]