Property firm Crosstree buys Edmonton Green shopping centre for £72m November 15, 2018 Real estate firm Crosstree has bought Edmonton Green Shopping Centre in north London for £72m, the company said today. The property firm, which co-owns retail space in the O2 arena, said it has exchanged contracts with owners St. Modwen for the 495,000 square feet (sq ft) shopping centre in Edmonton. The shopping centre, which sits on [...]
Fix the housing crisis and save the high street at the same time November 15, 2018 Two "crises" have dominated the headlines in the last year. The first is the pressure on housing, the challenges of the rental market, and the soaring cost of living, especially in big cities. The second is the so-called “death of the high street”, as shopping habits change and the retail sector struggles to keep up. [...]
Great Portland Estates launches £200m share buyback, but warns it could be stopped by Brexit November 15, 2018 Great Portland Estates has launched a share buyback to return £200m to its shareholders, it said today. The property developer is set to repurchase 42m of its own shares over the next 12 months, in a deal backed by Merrill Lynch and JP Morgan Securities. The company said it had decided to re-invest £200m of [...]
Mortgage approvals up for first-time buyers as market moves away from large deposits November 15, 2018 The market share of first-time buyers and small deposit borrowers increased in October as young buyers take advantage of low rates and slowing house price growth. A total of 67,011 mortgages were approved last month, an increase of 2.7 per cent since September and 3.5 per cent above levels in the same month last year. [...]
Flexible offer provider Workspace hit by London property market slowdown November 14, 2018 Flexible office provider Workspace announced a nearly 20 per cent drop in profit before tax as a weakening London property market took its toll. The London-based firm said its profit before tax was £101.6m in the six months ended 30 September, down 18 per cent from £123.7m in the same period last year. The company [...]
London house prices: Homes in the capital lose value despite the UK’s resilient property market November 14, 2018 London house prices fell 0.3 per cent in the year to September, according to Office for National Statistics (ONS) data released today. Growth in the capital lagged far behind the UK-wide average, which was 3.5 per cent, a small increase from 3.1 per cent last month. The growth puts the average house price across the country [...]
M&G buys Financial Times headquarters from Pearson for £115m November 14, 2018 Publishing giant Pearson today agreed to sell the Financial Times's headquarters to investment firm M&G for £115m. The building at One Southwark Bridge, on the bank of the Thames, has been home to the Financial Times since 1987. The deal is expected to close by the end of 2018. Now the newspaper will move back to its [...]
Low-end offices face glut of demand as start-ups opt for fancy co-working spaces November 14, 2018 Office-sharing companies such as Wework are pressing down demand for lower-end offices in London as start ups move into plush new premises. The proliferation of co-working spaces is creating a “glut” in the secondary office space, research from Deloitte shows. Companies like Wework are taking some of the best offices in London, and represent about [...]
New Bond Street named the third-most expensive shopping street in the world November 14, 2018 West End thoroughfare New Bond Street has been named as the world’s third-most expensive shopping street today in a new global survey. Rent on New Bond Street came in at $1,744 (£1,344) per sq ft per year, behind the main street of Hong Kong’s Causeway Bay on $2,671 per sq ft and Upper 5th Avenue [...]
Profits crash again as ‘frail’ McCarthy & Stone outlines plan to cut costs November 13, 2018 Profits collapsed at retirement housebuilder McCarthy & Stone today as it posted its full year results. Profit before tax fell 37 per cent year on year to £58.1m, down from £92.1m in 2017, as the housebuilder blamed a rise in building costs, rising operating costs, as well as extra marketing to promote its latest homes. [...]
