London faces logistics space crunch as e-commerce firms take over city March 4, 2022 London would run out of available industrial space within five months, should the current take-up rate continue, amid an e-commerce boom. The capital and the South East are facing running out of industrial and logistics spaces, according to a report published today by London First, in partnership with CBRE. It comes as the pandemic has [...]
Retail property firm Hammerson closes losses as it heads towards recovery March 4, 2022 Retail property firm Hammerson posted smaller losses today and reported a 122 per cent rise in earnings for 2021, as it recovers from a collapse in retail rent during the pandemic
Council says it wants to rid central London of ‘candy and tat shops’ March 3, 2022 Westminster City Council has outlined its intention to rid central London’s Oxford Street of “questionable candy and tat shops” as a part of a £150m rejuvenation. Rachael Robathan, leader of the council, tonight said “Oxford Street is Europe’s hardest hit street” by Covid and that the decline will continue without a serious intervention. Footfall on [...]
London renters compete for homes with Powerpoint presentations and pet CVs as stock levels sink March 3, 2022 Prospective renters are going above and beyond to win landlords’ affections as stock levels for homes have diminished. The disappearance of Covid restrictions has sparked a revival for the capital’s rental market, while estate agents report historically low levels of stock. High demand has seen rents surge past pre-pandemic levels and London landlords are once [...]
Galliford Try swings into red after snapping up water firm as it hails ‘good progress’ March 3, 2022 Construction firm Galliford Try has dropped into the red during the first half of the year, following its acquisition of a water firm. Shares in the Uxbridge-based company were down slightly in Thursday morning trading after it reported a pre-tax loss of £2.6m. This was compared to a £3.9m profit last year. However, revenue soared [...]
Real estate developer Firethorn sells logistics assets to Cain for £550m March 2, 2022 Real estate developer Firethorn Trust has inked a deal to sell its UK logistics portfolio to investment firm Cain International for £550m. The portfolio includes seven sites in the UK, totalling 3.25m sq ft across 22 assets, including two newly built developments. The sale also includes five consented land sites that are on set for [...]
Revenue soars for London estate agent Foxtons as ‘hustle and bustle of city life’ returns March 2, 2022 London estate agent Foxtons has posted buoyant revenue of £126.5m, up on pre-pandemic levels. The company reported revenue up 35 per cent against 2020 and up 18 per cent against 2019, in financial results published on Wednesday. The boosted results come as renters have flocked back to London with the scrapping of Covid restrictions. The [...]
Average UK property almost £30,000 more expensive than a year ago as house prices accelerate March 2, 2022 The average UK house price has topped £260,000 for first time, after surging by nearly £30,000 over the past 12 months. The typical property value reached £260,230 in February, Nationwide Building Society said. In cash terms, the average house price in February was £29,162 higher than a year earlier, the biggest annual cash increase the [...]
Mortgage approvals highest since the summer as cost of living crunch looms March 1, 2022 Mortgage approvals for house purchases lifted in January, in another monthly boost for the housing market. Figures released from the Bank of England on Tuesday morning show some 73,922 mortgage approvals during last month. This is the highest approval number since July 2021, when 75,900 mortgages were given the green light. It also represents the [...]
UK home to fourth largest rental market trailing US, Germany and Japan March 1, 2022 When it comes to the total volume of privately rented properties, the UK ranks fourth in the global rankings, with just the United States, Germany and Japan home to more rental homes, according to new research shared with Morning Wire this morning. Across the UK there are estimated to be over 29.5m homes within the [...]