Legal Q&A: I bought a leasehold house 10 years ago and I am worried I may have difficulties selling it. What should I do? January 24, 2019 Firstly, please do not assume that a leasehold house is bad news. There are many parts of the UK, especially in London, where there are a considerable number of leasehold houses that are perfectly saleable and mortgageable. You need to look through the documents you received from your solicitor to check if whether there are [...]
Super-prime time: London surge in high end house sales January 24, 2019 Wealthy buyers have been on a spending spree for multi-million pound trophy houses during the last year, with demand for London’s ‘super prime’ residences bucking a wider slowdown in the capital’s property market. Despite political uncertainty ahead of Britain’s imminent departure from the EU and plans for a new stamp duty on international buyers, activity [...]
West End landlord Great Portland reports robust leasing amid growth in tenant demand January 23, 2019 Fresh signs of strength in London’s leasing market emerged today, as listed property giant Great Portland Estates (GPE) posted rising rental values and low vacancy levels amid continued demand for office space in the capital. The West End landlord signed 16 new lettings totalling than 50,000 square feet in the quarter to the end of [...]
DEBATE: Should we welcome proposals for the so-called Tulip Tower in the City? January 23, 2019 Should we welcome proposals for the so-called Tulip Tower in the City? David Buik, market commentator at Core Spreads, says YES. Sir Norman Foster’s first commercial building in the UK was the Sainsbury Centre of Visual Arts in Norwich, completed in 1974. Now that same architect has designed the Tulip Tower, to be erected and built (subject [...]
Sports Direct and Intu strike deal to save four House of Fraser sites January 22, 2019 Four House of Fraser stores have been brought back from the brink of closure following a deal struck between Sports Direct and shopping centre landlord Intu. Last-minute talks between Mike Ashley’s sportswear firm and Intu Properties has led to department stores in Norwich, Thurrock, Gateshead and Nottingham being saved, having previously been earmarked for closure. More [...]
Landsec becomes latest property giant to muscle in on flexible workspace market January 22, 2019 Landsec has become the latest major developer to launch its own flexible workspace brand, joining property rivals hoping to tap into the growing demand for shorter leases and co-working offices. In a bid to rival the likes of commercial property disruptors such as WeWork, the blue-chip firm revealed today its plans to set up a new [...]
Take-up of London office space rises as 2018 ends with a ‘bang’ January 21, 2019 Take-up of office space in London soared in the final quarter of 2018, rounding off a year of bumper demand for the capital’s commercial property market. New figures from CBRE show that take-up in Central London for the fourth quarter of 2018 was 3.9m square feet (sq ft), marking a quarterly increase of 13 per [...]
UK households downbeat over finances despite slowing growth in living costs January 21, 2019 Living costs have risen at the slowest rate in three years this month, however UK households remained downbeat due to concerns over job security, lower cash availability and pessimism over the UK housing market. The Household Finance Index, which measures household's perceptions of financial wellbeing, increased in January to a three-month high of 44.8 but [...]
London needs micro-homes to solve the housing crisis January 21, 2019 Size doesn’t matter. When it comes to property at least, it’s all about location, location, location. Everyday, thousands of city workers (yes, I’m talking about you) are forced into excruciatingly long commutes from the outskirts of London, because living in the city centre – and, frankly, most of the capital – is simply unaffordable. Micro-housing would [...]
London house prices fell 1.5 per cent in December as Brexit bites January 21, 2019 The average asking price for London houses fell 1.5 per cent in December compared to the previous month as Brexit uncertainty continued to dampen the capital’s property market, according to figures released today. Figures from the latest Rightmove House Price Index showed the average asking price for a London home is now just under £594,000. [...]