London Cancer Hub opens new collaboration space for life-science firms February 24, 2022 The London Cancer Hub in Sutton has opened a new incubator and collaboration space for life-science companies who work on cancer-related projects, CityA.M. was exclusively told. The Innovation Gateway will provide laboratory, office and collaboration facilities at the south London hub. The space hopes to become a global leader for cancer research, treatment and commercial [...]
UK home sellers overprice their properties by as much as 21 per cent in wake of stamp duty holiday February 24, 2022 Rightmove revealed yesterday that asking prices saw their biggest monthly increase in over 20 years. Despite a property market boom, the gap between the asking price expectations of the nation’s sellers and what buyers are willing to pay is as big as 21 per cent in some areas of the market, according to data shared [...]
Look inside: London’s smallest flat sold at auction for £90,000 February 24, 2022 London’s smallest flat sold at auction on Wednesday for £90,000, well above the guide price for the 75 sq ft property. Located on Saratoga Road, Hackney, the property – images of which were shared around Twitter in the days before the auction – sold for 20 per cent over its guide price of £75,000. The [...]
Morgan Sindall doubles profits and share earnings in record results February 24, 2022 Morgan Sindall has doubled pre-tax profit in the past year, after the pandemic threw a spanner into British construction works. In a set of record results, the construction and regeneration group enjoyed a more than 100 per cent boost to earnings per share last year, which climbed from 108.6p to 226p. Shareholders has been left [...]
Lloyds Bank’s profits in the lift as lender’s mortgage book surges to £293bn February 24, 2022 Lloyds Banking Group has become the latest lending giant to post a bumper annual profit haul after releasing Covid loan loss provisions thanks to the UK’s economic recovery. The group has reported pre-tax profits surging to £6.9bn in 2021, up from £1.2bn the previous year after releasing Covid loan loss provisions thanks to the UK [...]
Stratford site sold for development of 380 new homes February 24, 2022 A site in Stratford, East London has been sold to Telford Homes in a project that will see 380 new homes. The site was sold by LCR, the Department for Transport (DfT) and HS1 Limited. Currently used as a bus layover and taxi rank, the site is situated on International Way. The site is located [...]
Camden and Chelsea among London areas to see biggest rent increases February 23, 2022 Average London rents are predicted to grow 14 per cent over the next five years, according to data exclusively shared with CityA.M. Desirable areas including Kensington and Chelsea, Canada, Camden and Hammersmith and Fulham saw the largest rental increases, with prices jumping around a third for each borough. Data from CBRE found that [...]
London rents exceed pre-pandemic levels with average weekly rent £751 February 23, 2022 Rents in the capital have soared as Covid restrictions have eased, with the average weekly rent now standing at £751. Data from estate agency Chestertons has found that the average rent has soared 21 per cent since 2020 when the average cost for renters was £589. Demand has increased thanks to renters returning to the [...]
Largest Roman mosaic found in London for over 50 years February 22, 2022 Archaeologists from MOLA (Museum of London Archaeology) have discovered a mosaic that was once the floor of a Roman dining room, in a “once-in-a-lifetime find”. Situated near The Shard, the uncovered mosaic features two decorated panels set within a red tessellated floor. The design – which features lotus flowers and a pattern known as Solomon’s [...]
Home transactions settle back to pre-Covid levels with ‘best sellers’ market in decades’ February 22, 2022 More than 85,000 homes changed hands in January, with property transactions up on pre-Covid averages, HMRC data has revealed. Official figures show that the provisional non-seasonally adjusted estimate of UK residential transactions for January 2022 was 85,520. This was 22.2 per cent lower than December 2021. There were seven per cent more transactions than the [...]
