Robert Jenrick ducks questioning on his role in ‘unlawful’ planning decision June 11, 2020 Housing and communities secretary Robert Jenrick has been criticised for refusing to answer questions from MPs about his part in unlwafully granting planning permission to a £1bn property development. Jenrick instead sent his deputy Chris Pincher to face parliamentary scrutiny about the planning approval, drawing claims from Labour that he was “hiding from scrutiny”. Jenrick [...]
UK house prices gauge hits 10-year low – but signs of confidence ahead June 11, 2020 A gauge of UK house prices hit its lowest level in a decade in May, it emerged today, but signalled confidence ahead as the country emerges from months of lockdown. The figures A survey from the Royal Institution of Chartered Surveyors (Rics) released today showed that 32 per cent of estate agents reported a plunge [...]
Premier Inn owner scoops up almost £1bn to bolster against pandemic June 10, 2020 Whitbread investors have agreed to supply more than 90 per cent of its £1bn cash call, the Premier Inn owner announced today, as it attempts to beef up its balance sheet amid the coronavirus crisis. Existing investors scooped up 91 per cent of the discounted 1-2 fundraiser issued by the hotel group in a bid [...]
Shaftesbury swings to £287m first half loss as coronavirus hits property value June 10, 2020 West End landlord Shaftesbury has swung to a £287m first half loss, as the value of its estate plummeted in the wake of the coronavirus crisis. The company, which has a portfolio of restaurants, pubs, shops, and workspaces in central London, said that the store closures brought about by the nationwide lockdown had affected tenants’ [...]
Segro to raise £650m through private share placement to pursue ‘opportunities’ June 9, 2020 Property investment firm Segro has announced it will raise £650m through a private share placement to pursue “opportunities” across the UK and Europe. In a statement released after markets closed, Segro said the new equity would allow it to “take advantage of additional investment opportunities across the UK and Continental Europe through further, mostly pre-let, [...]
Bellway cautious on trading after coronavirus lockdown forces house sales down June 9, 2020 British housebuilder Bellway sold about 1,000 fewer homes between August and May, after it closed its centres because of the coronavirus lockdown. The Newcastle-based company, which has restarted construction activity on around 230 sites, warned this morning that it expects sales activity to be “severely constrained”, driving shares down 2.7 per cent. Bellway sold 6,721 [...]
Retail landlord Intu puts KPMG on standby to act as administrator June 7, 2020 Embattled retail landlord Intu Properties has reportedly lined up KPMG to handle its insolvency process ahead of a testing fortnight. Intu has placed the Big Four accountancy firm on standby in the event that lenders refuse to grant a standstill on its debt obligations, according to Sky News. The landlord, which owns Manchester’s Trafford Centre, [...]
UK house prices drop for third month running as coronavirus bites June 5, 2020 UK house prices fell for the third month in a row in May as coronavirus continued to plague the property market, according to a closely watched gauge. However, the drop slowed compared to April. Prices fell 0.2 per cent month on month in May, the Halifax house price index showed. This compared with a 0.6 [...]
Housebuilder Taylor Wimpey reports surge in demand after sales centres reopen June 5, 2020 Housebuilder Taylor Wimpey reported a “very high” level of demand for appointments at its sale centres and show homes after reopening last month. The development company said the majority of its show homes and sales centres in England had reopened after the government lifted restrictions on the UK housing market. Since sales centres reopened there [...]
UK construction sector decline slows but industry remains gloomy June 4, 2020 The rapid decline in the UK construction sector slowed somewhat in May, but firms remained deeply pessimistic as the industry was battered by coronavirus. The IHS Markit/Cips construction purchasing managers’ index (PMI) rose to 28.9 in May from a record low of 8.2 in April. Yet a score of 50 indicates that the sector contracted [...]
