Shaftesbury back in the black as West End landlord sees ‘rapid rebound’ in shopping destination November 29, 2022 West End landlord Shaftesbury has swung back to profit as the capital’s retail heartland bounced back from Covid-19 disruption this year. The landlord, which is set to merge with neighbouring property giant Capital and Counties next year, shared a £119.1m profit after tax in full-year results. This was a strong come-back for the Carnaby, Seven [...]
Home REIT shares tumble after last-minute account delays November 28, 2022 Shares in social housing investor Home REIT plunged today after the firm delayed the publication of its accounts following an attack by a short seller last week.
Demand for London offices unphased by remote work and downward economic trends November 28, 2022 Demand for office space in central London has held firm despite the ongoing work-from-home trend and economic downturn risking upending the capital’s market. Uptake of central London offices surged 63 per cent in the first nine months of this year, in comparison with 2021, according to data shared exclusively with City PM today by BNP [...]
Rental market boom may be on the horizon as homebuyers struggle November 26, 2022 As the property market continues to stutter, the nation’s rental market is set for a boom, as historic housing market trends show that a decline in property sales also leads to a boost to private rental market stock, a leading City fund manager told City PM this weekend. Sales and rental markets during the economic [...]
Hybrid jobs: 248 football pitches of office space has simply vanished November 26, 2022 New research out this morning shows that roughly 1.8m square metres of office floorspace was taken out of use in the UK in the past year. The move, equivalent to 248 football pitches, was largely due to changes in working patterns since the pandemic – with the shift to hybrid working, said law firm Boodle [...]
UK rental demand up 23 per cent as scorned first-time buyers turn to lettings November 25, 2022 The UK’s rental demand has increased by 23 per cent in the last year, according to a new Rightmove research. The analysis has revealed that the increase in the UK’s rental demand is also due to many first-time buyers having to put their dreams on hold until mortgage rates go down, the Guardian first reported. [...]
Oxford Street to welcome fashion brand Reserved amid revamp of retail district November 24, 2022 London’s Oxford Street is welcoming a new retailer to the block, as fashion brand Reserved has signed up for its second London store. GPE, formerly Great Portland Estates and one of the biggest property leasers in the capital, has signed a letting with Reserved for a more than 19,600 square foot space, which is expected [...]
Londonmetric suffers £100m rates-fuelled blow to property portfolio value November 23, 2022 Londonmetric Property has emerged as the latest real estate investment trust to suffer an interest rates-fuelled hit to its portfolio. The portfolio, which still stands at £3.5bn, has shed £100m in value since March, as the company’s property and capital returns dwindle. Rising interest rates has eroded the value of several of the UK’s largest [...]
UK housebuilding stocks to remain sturdy despite falling house prices November 21, 2022 Housebuilders are expected to avoid any significant share price tumbles ahead of a forecast house price plunge in the UK, according to analysts at brokerage Jefferies. In a research note today, Jefferies analysts doubled down on UK housebuilders continuing to bring value for shareholders, despite an anticipated dip in house prices and sales as mortgage [...]
Revealed: £82bn in rental properties across UK are occupied by fraudsters and criminals November 21, 2022 Almost 280,000 UK rental properties, with a combined market value of £82bn, are thought to be occupied by fraudsters, City PM was told today. The rental market has long been a leading target for fraudsters, criminals, and money launderers. Research estimates that 5 per cent of all rental stock is being let to criminals and the [...]
