London property director hit with 11 year ban after conning investors out of millions April 5, 2022 A London property director has been given a 11-year ban from the top position, after scamming investors out of millions. Sam Eustace, from Sutton in south London, was formerly director of Kingsman Property, which promised landlords guaranteed rent all year around. The company also offered investors the opportunity to receive annual returns of 30 per [...]
Persimmon and Taylor Wimpey sign up to government’s cladding pledge April 5, 2022 Housebuilders Persimmon and Taylor Wimpey have signed the government’s developer pledge to remove unsafe cladding in tower blocks installed within the past three decades. The pledge commits house builders to fix dangerous cladding and other fire safety issues in buildings over 11 metres. Taylor Wimpey revealed it was signing up to pledge on Tuesday afternoon, [...]
Purplebricks delays appointment of new CEO as due diligence checks continue April 5, 2022 Online estate agent Purplebricks has delayed the appointment of its new CEO amid reports of probes of a historic personal insolvency. The troubled real estate firm revealed a delay in appointing Helena Marston on Monday, in an update to the London Stock Exchange. Purplebricks stated that “due diligence checks required by the AIM Rules are [...]
Number of properties available for purchase before being constructed soaring to levels ‘never witnessed before’ April 5, 2022 Record numbers of homes sold will be “off plan” by the end of the year, a property group told City PM this morning. The National Association of Property Buyers believe the number of properties available for purchase before they have been constructed will soar to levels never witnessed before. According to data shared with this [...]
Record revenue for Belvoir with 25 years of profit growth April 4, 2022 Estate agency Belvoir has posted record revenue, hitting 25 years of unbroken profit growth. The firm revealed a 39 per cent increase in profit before tax to £9.3m, sending shares up five per cent on Monday afternoon. Group revenue hit £29.6m, up 37 per cent, versus £21.7m in 2020. Last year was the “busiest year [...]
Exclusive: The boss of London’s oldest office provider returns from retirement to drive the City’s bounce-back April 4, 2022 As we passed the two-year anniversary of the first lockdown last month, City PM sits down with the CEO of London’s oldest office provider, who came out of retirement to drive the business’ post-Covid recovery. Shedding light on how the business and City has suffered, Argyll CEO John Drover reveals to this paper how his [...]
Prime London rent hits double-digit growth for first time since 2010 April 4, 2022 The priciest areas to rent in London have seen double-digit annual rental growth for the first time in more than a decade. According to figures released by Savills, growth in prime London hit 11.1 per cent in the first quarter of this year, against a backdrop of low stock levels. It is the first time [...]
Value of serviced office providers’ portfolios drops £1.4bn after Covid April 4, 2022 Goliaths in the office space sector have taken their first hit as the value of their property portfolios has dropped. The value of the largest serviced office providers’ estates have fallen to £24.3bn from £25.7bn in the previous year, according to law firm Boodle Hatfield. Since 2017, the value of office space providers has leaped [...]
Ministers called to introduce ‘safety net’ for homeowners following hike in debt costs April 3, 2022 The UK Government was called on to bring a “safety net” for homeowners following a hike in household debt costs. The Lib Dems said extra help needs to be given to first-time buyers, as forecasts from the Office for Budget Responsibility showed household debt servicing costs will increase by £33bn in two years. Under the [...]
Home buyer demand bouncing back across UK with Blackpool, Swindon and Newcastle leading the pack April 2, 2022 Zoopla this morning said the supply of homes being put up for sale generally is building momentum, although the overall choice of properties remains constrained. Blackpool and Swindon are among the urban areas seeing a bounceback in home buyer activity, according to the property website. The stock of homes available to buy is still 42 [...]
