Editorial: A week that offers good news for the capital November 10, 2020 It’s hardly a 200 watt halogen bulb, but word of a potential vaccine does at least provide a flicker of light at the end of this interminable 2020 tunnel. After a year of unrelentingly negative headlines, it counted as unalloyed good news. Not just for our fight against the virus, but for the capital too. [...]
Remote working ‘could cost UK economy up to £95bn a year’, report finds February 4, 2021 Remote working could cost the UK economy up to £95bn a year, according to a new report analysing the benefits of office environments. Research commissioned by commercial landlord Landsec found that face-to-face working boosts productivity and innovation and sparks investment in residential and commercial property, business events, meetings and travel. The report found that the [...]
£200m Mayfair office redevelopment gets green light November 11, 2020 Developers have been given the go-ahead for a £200m project to transform Mayfair’s Lansdowne House into office and retail space. Westminster City Council granted planning permission to real estate firm Core to redevelop the property in Berkeley Square. Core said the project is a “huge boost” for central London and the city’s office market, despite [...]
Landsec becomes latest property giant to muscle in on flexible workspace market January 22, 2019 Landsec has become the latest major developer to launch its own flexible workspace brand, joining property rivals hoping to tap into the growing demand for shorter leases and co-working offices. In a bid to rival the likes of commercial property disruptors such as WeWork, the blue-chip firm revealed today its plans to set up a new [...]
Property giant Land Securities appoints new chief executive November 22, 2019 Land Securities announced on Friday that Robert Noel is stepping down as chief executive, just 10 days after the property developer reported a first-half loss. Mark Allan, chief executive of St Modwen Properties and former boss of student accommodation company Unite, has been appointed as Noel’s replacement. Read more: Property giant Land Securities eyes £650m [...]
Landsec profits rise despite retail’s property slump November 13, 2018 Property developer Landsec recorded a rise in profits in its half-year results today, despite a fall in property values caused by the struggling retail sector. The figures Profits before tax rose to £42m, up from £34m last year. Revenue rose 10.3 per cent to £224m compared to the same period of 2017. Dividend per share was [...]
Canary Wharf draws up plans for return to work May 15, 2020 Canary Wharf has drawn up plans to allow bankers, accountants and lawyers back to the financial district as lockdown restrictions start to ease. The London estate, home to the European headquarters of Barclays, Citigroup and HSBC, is issuing guidance to tenants this week, according to the Financial Times. The plans include introducing one-way routes, limiting [...]
A New Look for high street retail? Here’s what matters in the Covid-19 world September 16, 2020 It has been what Sir Alex Ferguson used to call “squeaky bum time” for fashion retailer New Look these past few days. On Monday it was being reported that British Land and Landsec, two of the chain’s biggest landlords, were preparing to vote against the proposed company voluntary arrangement (CVA) which would have switched the [...]
Mipim doubles down on event despite exodus of big names on coronavirus fears February 27, 2020 Property jamboree Mipim today said it would still go ahead in Cannes next month, despite big names such as Lloyds Banking Group, Knight Frank and PGIM dropping out because of the spread of coronavirus. A spokesperson for the real estate event said: “Mipim will open for business on 10 March. “We understand and respect the [...]
Mike Ashley demands landlords link rent to sales November 17, 2019 Retail tycoon Mike Ashley, the founder of Sports Direct, has demanded that new rent deals are tied to sales across his high street empire. Ashley has reportedly asked landlords to agree to turnover rents, where up to 15 per cent of the rent payable is linked to in-store sales. Read more: Sports Direct ends two [...]