Property franchise the Belvoir group has uptick in revenue built on lettings September 5, 2022 Property franchise the Belvoir group’s revenue was up 12 per cent in the first half of the year driven by the continued high demand for lettings. The firm, which also runs financial services, made £15.4m up until June, up from £13.8m in the same period last year. Its gross profits was dominated by 60 per [...]
Saturday Read: Cash-strapped home owners turn their properties into personal cash machine September 3, 2022 The amount of wealth being released through equity release could pass £6.5bn by 2025 after more than a decade of increasing popularity and growth. Overall, in the ten years following 2011, the amount of property wealth being freed up through equity release increased by 508 per cent, reaching the 2021 total of £4.8bn. Back in [...]
Buying property through NFTs is ‘the future’, says founder of London agency September 1, 2022 After spotting a gap in the market, West London City Lets has unveiled new sub-agency Tokenized Properties – which allows landowners to buy and sell using Non-Fungible Tokens (NFTs). The new agency is the UK’s first property firm to facilitate the sale of physical land through an NFT, having just listed the first deal of [...]
Battersea Power Station to open next month with new shopping and office destinations September 1, 2022 The office and retail development at Battersea Power Station will open to the public next month, almost 40 years since the iconic building closed. The South-London development will open on 14 October, project owners revealed on Thursday. Around 100 shops, restaurants and bars have bagged space at the development, while big names Apple and IWG [...]
UK house price growth slows to 10 per cent as energy crisis batters Brits September 1, 2022 Annual UK house price growth slowed to 10 per cent in August, from 11 per cent in July.
Central London office demand roars back to life as West End occupancy booms August 31, 2022 Central London office take-up has rebounded back to pre-pandemic levels this year and has even surpassed the ten-year average. Occupancy in the heart of the capital bounced back to pre-Covid levels during the 12 months to the end of 2022’s second quarter, according to data from real estate advisor CBRE. Take-up for offices hit 12.7m [...]
Trouble brews over London Southbank’s ‘The Slab’ development August 31, 2022 Trouble has been brewing over ‘The Slab’, the proposed Southbank development at 72 Upper Ground. Campaigners have claimed it will overshadow neighbouring post-war architecture and encroach on a riverside conservation area. The landmark redevelopment of the former ITV studios had been granted planning approval by Lambeth Council in March 2022. However, the #SaveOurSouthBank campaign, led [...]
Purplebricks’ top brass spend £1m on shares in a bid to boost shareholder confidence August 29, 2022 The top brass of struggling online estate agent Purplebricks have spent nearly £1m of their own money on company shares. Helena Marston, the new chief executive, and Paul Pindar, the executive chairman, both recently spent £100,000 and £851,000 on shares respectively, The Times reported. Pindar now owns a 5.4 per cent stake in the company. [...]
Supply and demand continue to wreak havoc on London rents, says Foxtons August 24, 2022 Supply and demand constraints have continued to wreak havoc on London rental costs, according to the latest data. Central London produced the highest average weekly rent in the year to date at £627, a rise of more than a third in comparison with last year, research by Foxtons, one of the largest real estate agencies [...]
Thousands more homeowners to be refunded after ground rents doubled August 24, 2022 Press Association Thousands more homeowners who paid a doubled ground rent on their property will receive a refund after the competition watchdog cracked down on “unfair” leasehold practices. More than 5,000 households in the UK will be compensated after being caught in contracts that saw their ground rents double in price every 10 years. Many [...]