Belgravia’s billionaire strip: London’s new hotspot has £1.4bn property pipeline August 15, 2019 A strip of prime property in East Belgravia is undergoing a development boom with £1.4bn of investment in luxury homes and hotels in the pipeline, according to a new report. The plot of land between Upper Belgrave Street and Grosvenor Place, dubbed the billionaire’s strip, has been earmarked for private mansions, penthouses and VIP clubs. [...]
Wework lost $700m in first half, pre-IPO filing shows August 14, 2019 Wework lost nearly $700m (£580m) in the first half of the financial year, even as revenue doubled, the company announced in its first detailed financial results yesterday. The company, the listing of which next month is expected to value the business in the tens of billions, said it has no plans to start paying dividends [...]
London house prices continue to slide under Brexit pressure August 14, 2019 London house prices have continued their slide with a year-on-year fall of 2.7 per cent in June, figures from the Office for National Statistics (ONS) showed today. Read more: London house prices suffer worst plunge in 10 years The figure marked a slowdown from the 3.1 per cent drop seen in May, however, which was [...]
Canary Wharf veteran George Iacobescu to step down as chief executive August 14, 2019 The man who spearheaded Canary Wharf’s transformation from an abandoned dockyards to a thriving financial hub is to stand down as chief executive of the site’s owners after over two decades in the role, but will stay on as chairman of the company. Sir George Iacobescu, who is currently both chief executive and chairman of [...]
Henderson Park buys Irish real estate fund Green Reit in €1.3bn deal August 14, 2019 Real estate investment group Henderson Park today said it had agreed to acquire Irish real estate fund Green REIT in a €1.3bn (£1.2bn) deal. Green Reit floated in 2013 as Ireland’s property market began to recover after the country’s real estate crash. It put itself up for sale in April because its shares were trading [...]
New builds: Homes on the market this week including apartments in White City and Walthamstow August 9, 2019 White City Living, White City This Saturday, Berkeley’s St James division will launch the first show apartment at White City Living in West London. The apartment has been designed around the principles of Feng Shui by Jigsaw Interior Architecture. There are 1,800 new homes being built at the development, which sits next to the BBC [...]
This cottage might be the cheapest house on one of the world’s wealthiest streets August 9, 2019 As the name suggests, Billionaire’s Row in Hampstead Garden Suburb is home to some of the capital’s most prestigious properties, as well as some of the priciest. Also known as The Bishops Avenue, the street is known for its palatial mansions and attracts super-wealthy buyers looking for more space and seclusion than the likes of [...]
Derwent London sells Clerkenwell office block for £103m August 8, 2019 Property developer Derwent London has exchanged contracts to sell The Buckley Building in Clerkenwell for £103m, the company announced as it reported boosted rental income for the first half of the year. New lettings in the first half totalled £18.1m, 7.5 per cent above December 2018 estimated rental value. Net rental income was up 7.1 [...]
Rics: UK house prices ‘flatlining’ over no-deal Brexit concerns August 8, 2019 UK house prices are “flatlining” in a weak housing market, according to an influential group of chartered surveyors. A headline price indicator slipped deeper into negative territory in July, according to the latest survey by the Royal Institute of Chartered Surveyors (Rics). Read more: UK house prices ‘tread water’ as they slip for another month [...]
Property investment plummets in first half as Brexit uncertainty hampers market August 8, 2019 British commercial property investment plunged by a third in the first half of the year because of Brexit-related uncertainty, while residential transactions were at their lowest since the global financial crisis, according to real estate giant Savills. Investment activity in greater London commercial property fell 31 per cent in the first half of 2019, while [...]