Reforming business rates – is Land Value Tax really a viable alternative? March 9, 2020 | City Talk The Business Rates system has long been considered by businesses as outdated and in need of reform. It imposes its tax burden whether the business is “in the red or the black”, i.e. profitable or not. Also, whilst purported to be a tax on business collected by means of property, it has a distinct bias [...]
Real estate charity cyclists in 1,500km Regent’s Park ride after Mipim relay cancelled over coronavirus worries March 8, 2020 Cyclists from the real estate sector are trying to cover 1,500km around Regent’s Park this week after a planned charity relay to the Mipim conference in Cannes was cancelled over coronavirus fears. The annual Cycle to Mipim ride was cancelled after the real estate bonanza, which was set to take place in the south of [...]
UK house prices: Brexit clouds lift, but coronavirus threat looms March 6, 2020 UK house prices rose 2.8 per cent in February compared to the same month last year, Halifax data showed today. Homes’ values increased 0.3 per cent month on month and 2.9 per cent on a quarterly basis, Halifax’s House Price Index found. That left the average UK house price at £240,677 in February. But while [...]
Property of the Week: A Camden gothic mansion with ties to surrealist artist Nancy Fouts and Ally Pally March 6, 2020 Slip behind Mornington Crescent station in Camden, take the second left, and you’ll find yourself on Oakley Square. Walking alongside the manicured gardens, you’ll pass a row of stucco-fronted Georgian townhouses, identical save for the odd red door. When you get to the end of the block though, there’s a bit of a surprise. With [...]
Learn how to DIY your decor with these five London interior design courses March 6, 2020 Think of the times you’ve stood in one of your rooms at home that’s driving you mad – is it cluttered, or the paintwork’s dated, or the lighting terrible? Perhaps you’ve just moved and you’ve got a whole house to redecorate? There’s always the big-bucks option of hiring a professional designer. But why not get [...]
Tenant restructurings hit shopping centre owner Capital & Regional March 5, 2020 Shopping centre owner Capital & Regional posted a drop in net rental income for last year as it was hit by retailer restructurings. Net rental income fell five per cent to £49.3m compared to £51.9m the previous year after a £3m hit from retailer company voluntary arrangements and restructuring plans. Adjusted profit fell 10.2 per [...]
Barclay brothers receive offers over £1bn for Ritz Hotel March 4, 2020 Sir Frederick Barclay, the billionaire co-owner of the Ritz, has received bids for the 114-year-old hotel exceeding £1bn, according to reports. Press Association said that Frederick Barclay, who owns the Mayfair hotel with his brother David, will not accept a lower offer. The twin brothers, who bought the Grade II listed property for £75m in [...]
Property fund outflows slow as investors seek safe havens March 4, 2020 Property funds had their best performance since September 2018 as net outflows decreased to just £18m last month, down from £80m in January. In the final week of February, when global markets slumped as a result of the coronavirus outbreak, investors bought a net £24.6m of real estate funds according to Calastone’s Fund Flows Index. [...]
Intu shares plunge after it cans £1bn emergency cash call March 4, 2020 Shopping centre-owner Intu has cancelled an emergency fundraising after it was unable to persuade enough shareholders to put money into its business. Its shares crashed 38 per cent this morning to 6p following the announcement, before recovering to 9p – down 15 per cent on last night’s close. The company last month said it was [...]
Travis Perkins returns to profit despite ‘challenging market’ March 3, 2020 Building materials business Travis Perkins said today it had swung to a profit in 2019. It said operating profit was £232m, compared to a £22m loss last year. Adjusted operating profit rose 7.8 per cent to £442m, despite a “challenging market backdrop”. Revenue grew 3.2 per cent to £6.9bn, with like-for-like revenue growth of 3.8 [...]