Beirut explosion linked to London address used by shell company March 2, 2021 Ownership of the deadly stockpile of ammonium nitrate that exploded last August in Beirut, killing over 200 people, has been traced back to a London address commonly used by shell companies, an investigation by Globe and Mail has found. The London address, minutes away from Oxford Circus, belongs to a London-listed company called Savaro Ltd. [...]
Khan accused of cutting affordable housing by two thirds despite £4bn grant March 2, 2021 Sadiq Khan has been accused of not delivering on his affordable housing promise today by proposing to cut City Hall housebuilding by nearly two-thirds, despite receiving a third of the UK’s affordable housing budget. The latest figures reveal the mayor’s 2021-26 housebuilding programme will only build 35,000 new affordable homes using the government’s £4.82bn grant. [...]
Saudi prince to sell £195m stake in London skyscraper February 23, 2021 A Saudi prince is close to selling his stake in a City skyscraper to an American investor for around £195m. Prince Abdul Aziz bin Fahd owns 25 per cent of Salesforce Tower in Bishopsgate. The tower has attracted interest from New York-based investment firm Madison International Realty. The 46-storey tower took four years to complete [...]
Plans for grand new building axed in favour of ‘major overhaul’ of Barbican estate February 19, 2021 Plans for the pyramid-shaped Centre for Music have been scrapped and replaced with plans for a “major renewal” of the nearby Barbican estate. The elaborate concert hall was planned as the new home for the London Symphony Orchestra, but the City of London Corporate has now axed the idea in favour of a revamp of [...]
City workers urged to complain if forced into the office January 13, 2021 The City of London Corporation has called on workers to complain if they are being pressured into coming into work during England’s third national lockdown. The Corporation has urged Square Mile workers to file an anonymous complaint if their employers are forcing to break lockdown rules, which state that everyone must stay at home unless [...]
QuadReal pumps nearly $1bn in London property January 12, 2021 Property group QuadReal has spent nearly $1bn to acquire a majority stake in seven London-based assets owned by Realstar UK. The Canadian asset manager partnered with Realstar to invest in four rental properties in New Cross, Stockwell and a 45-story tower in the heart of Elephant & Castle. Realstar CEO Ryan Prince said, “Far [...]
It will need all hands to the pump to get London back where it should be January 5, 2021 Last year was for many the most challenging year in living memory. Repeated lockdowns, the loss of loved ones, business closures, job losses and a complete shift in how we live our lives. Our great capital city has also undergone sudden and dramatic changes. As the pandemic took hold in March it was eerily empty, [...]
Post-Christmas footfall plummets as UK shoppers avoid high street January 4, 2021 Footfall across Britain’s high streets plunged almost a quarter last week as Boxing Day sales failed to lure shoppers from their sofas, according to the latest data. The number of Brits hitting the shops fell more than 23 per cent in the seven days after Christmas compared with the week before, latest Springboard figures showed. [...]
Crossrail failed to carry out survey work on historic Soho venue despite ‘high risk’ to punters December 16, 2020 Crossrail failed to carry out survey work on a historic cellar bar in Soho despite receiving warnings from its own contractors that weak vaults posed a “high residual risk” to punters. The report, which was carried out in 2016 by consultants WSP and has been seen by City A.M., says that the vaults in the [...]
Chinese Embassy plans at risk over Black Death bodies December 15, 2020 Plans to build China’s largest European embassy in east London could be scuppered after local leaders raised concerns that the foundations would disrupt the bodies of thousands of bubonic plague victims. Councillors in Tower Hamlets have flagged complaints to Historic England, warning that the building will disturb “a site of major historical importance”. China bought the former [...]