Exclusive: City buildings on track to be collectively carbon negative by 2027 February 11, 2022 Buildings in the City are on track to be collectively carbon negative by 2027, according to new research shared exclusively shared with Morning Wire today. Drafty buildings produce 40 per cent of the UK’s carbon emissions, which London has been tackling for more than decade. Emissions from offices, homes and factories have shrunk steadily since [...]
Redrow increases profit as order book hits £1.5bn February 10, 2022 Redrow, one of the UK’s largest house builders, has reported a 16.6 per cent increase in profit as the order book hit £1.5bn. In the 27 weeks to 2 January, the FTSE-250 group registered a record revenue of £1.052bn, with operating margins returning to normalised levels of around 19.5 per cent, one year ahead of [...]
Margate has seen the biggest jump in house prices since 2012 February 10, 2022 A seaside town in Kent has been identified as the area where prices have leaped the most in the last decade. Asking prices of homes in Margate have more than doubled on average since 2012, according to property site Rightmove. Prices now stand at an average of £294,209, more than £100,000 higher than they were [...]
WeWork Southbank space enters the market for almost £1bn February 9, 2022 One of the office sites leased to WeWork is being put on sale for nearly £1bn, which would be among the largest in London since the pandemic. One and Two Southbank Place is being put on the market by developer Almacantar for £935m, it was first reported by the Financial Times. The campus is being [...]
Fitzrovia: We focus on a London area that’s like the West End but cooler February 9, 2022 Although the central London district of Fitzrovia has no formal boundaries (it is part of both the London boroughs of Camden and Westminster), it is generally agreed that it sits between Euston Road to the north and Oxford Street to the south. “Today, Fitzrovia is popular with the more discerning London buyer who is looking [...]
Barratt boss confirms over 200 buildings fall under cladding safety review February 9, 2022 The boss of housebuilder Barratt has confirmed that more than 200 legacy properties fall within its safety review in a bid to fix the UK’s cladding crisis. Chief executive David Thomas said the company was in talks with government around its plans to get housebuilders to fork out the cash to undergo safety works on [...]
Demand for office space soared last month as businesses feel more certain February 9, 2022 Business owners making enquiries about leasing office space exceeded pre-pandemic levels last month, in a boost for the revival of city centres. Demand was 54 per cent higher last month than in January 2021 and 15 per cent higher than in January 2020, just before the pandemic hit. The office sector had the strongest growth [...]
Surging rents ‘fanning the flames of cost of living crisis’ February 9, 2022 Rents have surged 8.3 per cent in a year, to the highest level they have been in 13 years. London rents have risen 11 per cent in a year as office workers have returned to the capital. Monthly rents are up £62 since the start of the pandemic, hitting an average of £969 a month, [...]
WeWork partners with startup Upflex in flexible global workspace roll out February 8, 2022 Workspace provider WeWork is entering an exclusive partnership with coworking startup Upflex. The flexible space firm said on Tuesday that the deal will result in a combined network of more than 5,500 locations, with WeWork selling Upflex space to its members. WeWork announced it would also participate in Upflex’s Series A funding, alongside other investors. [...]
Developers looking at ‘legality’ of government demand to commit to funding cladding remediations February 7, 2022 Builders have accused the government of taking a disproportionate approach with its plans to relieve leaseholders of remediation costs for unsafe flats. Developers were sent a letter by the government last week calling on them to sign a legally binding agreement that committed them to covering the costs of fixing tower blocks with dangerous cladding. [...]