City skyscraper Twentytwo set to lure in another insurer November 20, 2018 The City's tallest skyscraper is expected to land yet another major insurance tenant in the coming weeks, with news this afternoon that broker THB Group is in talks to rent 35,000 square feet of space. THB Group is set to become the third insurer to move into 22 Bishopsgate, known as Twentytwo, once construction is completed [...]
Airbnb sparks controversy by removing listings in the occupied West Bank from its website November 20, 2018 Online rental service Airbnb has said it will remove from its website all homes in Israeli settlements in the occupied West Bank. The US firm said it made the decision because settlements were "at the core of the dispute between Israelis and Palestinians". Airbnb said that while domestic law permitted it to "engage in business" in the [...]
Europe’s real estate investors dominate central London commercial market November 19, 2018 European buyers dominated Central London’s commercial property market in the third quarter of 2018, according to a new Knight Frank survey which underlines investor appetite from the continent. Accounting for almost 40 per cent of Central London’s market share by price, buyers from across Europe are on course to exceed their 10-year average levels of [...]
Housebuilder Weston sees profits soar as it plans £28m expansion November 19, 2018 Housebuilder and office provider Weston has reported a huge increase in revenue and pre-tax profits as the developer cashes in on rising demand for new homes. The volume housebuilder, which operates in London and the south east, said its pre-tax profits increased over 50 per cent year on year to £35m. The group’s revenue was up [...]
Flower in the City: The Tulip could be the tallest tower in the Square Mile November 19, 2018 New proposals to build the tallest ever tower in the Square Mile were revealed this morning, as City planners prepare to open their doors to a fresh wave of skyscrapers that could transform London’s skyline. Developers have submitted plans to build a dramatic 305-metre viewing attraction dubbed ‘The Tulip’, which would be built alongside The [...]
Legal Q&A: How can a group of leaseholders buy the freehold of their properties if some of them are sublet? November 19, 2018 We are a group of leaseholders considering buying the freehold of our block of flats. Many of the owners sublet their flats and the rest of us are worried about potential delays and in particular, receiving funds on time. Can you advise? Many blocks, particularly in London, experience reduced owner occupancy, which does make coordinating [...]
Mears shares fall as it confirms purchase of Mitie’s social housing business November 19, 2018 Social housing provider Mears today said it has bought industry-related assets from outsourcing firm Mitie's property management division, in a transaction valued a £35m. Mears said it would finance an initial cash consideration of £22.5m for the deal via a placing of new ordinary shares on the London Stock Exchange. A deferred consideration of the remaining [...]
Buyers eye up Christmas offers as prices slip in November November 19, 2018 Homeowners hoping to sell their house are slashing prices and expectations, in a move that signals a boon for buyers in the run-up to the festive season. Property prices tumbled 1.7 per cent this month, marking the largest November drop since 2012, with London’s stagnant housing market continuing to see a sharper decline than any [...]
Persimmon boss picked pub for first big purchase after £40m bonus November 18, 2018 Persimmon’s new boss spent almost £800,000 on a pub in his hometown as his first big personal purchase after receiving a £40m bonus this year. Dave Jenkinson became the housebuilder’s interim chief executive last week after former boss Jeff Fairburn was forced out amid a furore over his £75m bumper bonus. Jenkinson bought Shambles in Morpeth, [...]
England housing stock increases but housebuilders still fall short of target November 15, 2018 The number of new homes completed in England in the last year reached its highest level in a decade, but growth has plummeted as Brexit uncertainties take hold. Just over 222,000 more homes were added to England’s housing stock in 2017-2018, according to figures released today by the minister of housing, communities and local government (MHCLG). [...]