There will be a 30 per cent fall in property development activity in 2017 December 6, 2016 Commercial property development in the UK will slow substantially next year, Savills has warned, as lenders and borrowers seek to avoid taking any risks. The property firm said there will be a 30-40 per cent drop in development activity in 2017, with London being hit particularly hard. Read more: Risk of more pain for UK [...]
This is how far house prices in Chelsea have fallen this year December 6, 2016 House prices in Chelsea just keep falling. As George Osborne's stamp duty reforms and the Brexit vote continue to hammer the market, prices on high-end homes in Chelsea fell 13 per cent in the year to November. Read more: House prices are already shooting up along the Elizabeth line The figures from Knight Frank show that [...]
Civil servants are moving to Canary Wharf December 6, 2016 Civil servants are moving to Canary Wharf in a bid to save them from working in "ugly and expensive buildings". The 5,700 employees from various departments are moving from Whitehall to 10 South Colonnade, a building owned by Canary Wharf Group. The relocation should be completed by the end of 2018. Read more: This is what your [...]
These are the seven biggest risks facing housebuilders in 2017 December 6, 2016 Think housebuilders have had a bad year? Well, these analysts think 2017 could be worse. On the day of the Brexit vote, housebuilders were subjected to some of the most dramatic sell-offs of any stock. None of the big housebuilders have regained the ground they lost on the day. Read more: EU regulation protecting newts [...]
Planned City skyscraper 22 Bishopsgate taken down a notch over fears of plane crash risks December 6, 2016 A new skyscraper planned for the City has had to knock a few floors off the top, over fears that cranes used to build it could pose a risk to flights over London. New plans have been submitted to reduce 22 Bishopsgate's height by four floors, or 22m, according to Construction Enquirer, meaning the tower [...]
Institutional West End property sales sizzle to record high as investors capitalise on weaker pound and foreign interest December 5, 2016 Institutional sales of commercial property in the West End have topped £2.7bn in the year-to-date, the highest volume ever recorded, according to estate agent Savills. Standard Life, Aberdeen Asset Management, DTZ Investors, TH Real Estate, Blackrock and Aviva have each sold more than £100m of assets since January, with vendor institutions making up 55 per [...]
Interiors: Embark on a ‘tipples and trees’ tour to get festive inspiration from London’s hotels and restaurants December 5, 2016 Now the merry month of December is upon us it’s time to fire up the festive spirit and prepare to entertain descending hordes of relatives. But what to do with them? A Christmas-themed afternoon tea or a festive cocktail at one of London’s landmark venues is a surefire way to impress. This time of year, [...]
Focus On Maida Vale: Why financiers and celebrities flock to the birthplace of the London mansion block December 5, 2016 The London mansion block has never been so popular, yet there are only a finite number in existence. While many luxury property developers are seeking to reinvent them for the 21st century for a tidy profit, the birthplace of the original – the real white-stuccoed deal – is still Maida Vale in north west London. [...]
Property of the Week: Former seminary and Call the Midwife location now an impressive property for sale December 5, 2016 Space is in short supply in London, which is why this chapel, the centrepiece of a former college in north London, is such hot property. Spanning over 8,000sqft – over twice the size of a generous Georgian townhouse – this Grade II Listed building has surveyed the surrounding area of Mill Hill Village from the [...]
Invesco Real Estate and Aareal Bank AG agree a lending facility of up to €1bn December 5, 2016 Invesco Real Estate and Aareal Bank AG have agreed a loan facility of up to €1bn over a 10 year period, one of the biggest loans sealed in the real estate sector this year. The loan will be used to grow Invesco Real Estate's European portfolio, which already comprises €3bn worth of investments, and it can be [...]