Car dealership Lookers sells Battersea site for £28m March 28, 2022 Car dealership chain Lookers has sold a freehold dealership property in Battersea, south London for £28m. The 95,000 sq ft property was sold with Urban Logistics REIT, with a 20-year lease agreed at an initial rent of £1.25m per year. Lookers CEO Mark Raban said: “We’re pleased to have agreed the selective sale and leaseback [...]
Exclusive: Top property platforms launch trade body to combat misleading investor information March 28, 2022 A group of top property investment platforms have launched a trade body today to combat the spread of misleading investment information, ahead of a predicted flood of funding from retail investors into the space.
Renters hunt for pet friendly landlords as millions of Brits took a dog during lockdown March 26, 2022 London renters are increasingly eager to find pet friendly landlords, after millions of Brits bought animals during lockdowns. Estate agency Chestertons said some 25-35 per cent of renters hunting for properties in the capital at the moment are pet owners. Demand for London rental homes is increasingly high as office workers look to return to [...]
Bermondsey Reach: Wittington Investments to snap up Southwark development with 300 flats March 25, 2022 Some 300 apartments are being planned for a site in Southwark that reportedly has a £135m development value. The 1.3 acre site has received planning consent for 312 residential flats and more than 20,000 sq ft of retail and commercial floorspace. Centerbridge and Argon Capital have appointed advisors from CBRE and KALMARS on the sale [...]
Home buyers face stamp duty of up to 881 per cent higher after Covid-inspired tax holiday March 24, 2022 Since the pandemic-inspired stamp duty holiday came to an end, the amount of SD the average homebuyer in England is now required to pay is 84 per cent higher than it was before the tax break was introduced, and some areas have seen this cost increase by as much as 881 per cent, according to [...]
Russian foreign minister’s stepdaughter who lives in £4m Kensington flat is sanctioned by UK March 24, 2022 Russia’s foreign minister’s stepdaughter, who lives in a £4m flat in Kensington, has been added to Britain’s sanctions list. The Instagram influencer and socialite Polina Kovaleva is the latest target of Britain’s campaign against Kremlin-linked individuals, as Russia’s war in Ukraine enters its second month. Kovaleva, 26, who was privately educated, has documented her lavish [...]
Row erupts as new London arena dubbed ‘enormous glowing blight’ gets planning approval March 23, 2022 A row has erupted over a new music venue branded an “enormous glowing blight” which has now been granted planning permission. The MSG Sphere in Stratford at the site of the 2012 Olympics got approval from the London Legacy Development Corporation (LLDC) today, despite more than a thousand complaints from residents about the 21,000-seater arena. [...]
£5bn investment turnover for central London office market since start of 2022 March 23, 2022 Central London’s office market has marked £5bn investment turnover since the start of the year, as confidence in the category returns. Property advisors Knight Frank have revealed a 300 per cent increase in comparison to the first quarter of 2021 when there were transactions worth £1.2bn. There are £5.8bn worth of central London office deals [...]
Abrdn urges housebuilders to go further than legal requirements in coughing up cladding cash March 23, 2022 FTSE 100 asset manager Abrdn has called on housebuilders to do more than the bare minimum to foot the bill to fix blocks with unsafe cladding. According to a report from Sky News, the City investor has written a letter to big players in the construction sector, urging them to do more than they are [...]
Average UK house price stands at £274k, a £24k annual increase March 23, 2022 The average UK house price hit £274,000 in January, a £24,000 uplift compared to the year prior. Average house prices increased 9.6 per cent over the year to January, a dip from 10 per cent in December 2021, according to the latest official statistics. London continues to be the region with the lowest annual growth [...]
