Transport for London steps up property ambitions after unveiling new partnership September 26, 2018 Transport for London (TfL) has unveiled plans for a new partnership with one of the capital’s affordable housing developers today, in a sign that the body is ramping up its move into the property market as it looks to pay off its near-£1bn debt pile. In a new joint venture with property developer Apartments [...]
German money rises in West End after Verde deal September 24, 2018 German investment in the West End has reached £515m for the year-to-date on the back of last week's announcement that German fund manager Deka Immobilien GmbH completing one of the largest deals this summer, buying the Verde office building in Victoria for roughly £460m on Friday. The deal pushed investment levels up to £515m, compared with £476m [...]
Posh property: Victoria Beckham’s fashion HQ put on the market for £15m by Aberdeen Standard September 18, 2018 While Victoria Beckham’s property portfolio might be better known for residential planning disputes with Kensington neighbours, the former Spice Girls singer’s £15m commercial headquarters was put up for sale earlier today. The Grade A Hammersmith office space, which is currently owned by asset manager Aberdeen Standard, has been put on the market for £15.75m. Victoria Beckham’s [...]
Government hires Lazard and Savills as multi-million pound sale of 36.5 per cent stake in King’s Cross Central kicks off August 17, 2015 The government has kicked off the sale of its 67-acre site around London's King's Cross station. Investment group Lazard and high end estate agent Savills are handling the deal. Interested parties have been urged to contact Lazard by 7 September. The decision to sell the government’s 36.5 per cent stake in King’s Cross [...]
Savills revenues rise 27 per cent as London market stabilises August 6, 2015 Property services giant Savills reported a jump in revenues this morning, despite uncertainty during the run-up to the General Election. The figures Group revenues rose to £547m in the six months to the end of June, up 27 per cent from £430.8m during the same period last year. Profit before tax rose seven per cent to £26.4m, up from £24.7m last year. Meanwhile, underlying [...]
Savills beefs up rural presence with Smiths Gore acquisition April 21, 2015 Property company Savills yesterday announced a deal to buy Smiths Gore – a rural property specialist. Smiths Gore has operated as a partnership with 532 staff, across 31 UK offices and 14 estate offices, all of whom will transfer into Savills Rural Energy and Projects (REP) division or its Country Residential Agency business. The takeover [...]
Tesco begins land sell-off in cost-cutting drive March 30, 2015 Tesco has hired property advisory firm Savills to sell six development sites as part of plans announced earlier this year to cut costs. Chief executive Dave Lewis said in January that he would halve capital spending and save £250m a year by axing 43 stores, shelving 49 projects and closing its Cheshunt head office. The [...]
Record results for Savills as market conditions improve across Europe and the US March 19, 2015 Savills has reported “record results” for 2014, with better market conditions aiding a return to profitability. The figures International expansion helped drive Savills' pre-tax profit up by 34 per cent to £104.3m in 2014, compared with £75.2m the year before. During the 12 months to 31 December, revenue for the London-listed property firm revenue [...]
Savills share price surges on profit outlook upgrade thanks to Stamp Duty changes January 15, 2015 Estate agent Savills has upgraded its profit outlook for 2014 after changes to stamp duty came into effect at the end of last year, sending shares surging almost nine per cent in early trading. Revenue and profit exceeded forecasts in December after a sales boost from the rise in Stamp Duty for properties priced over [...]
Mansion tax talk and cooling London house prices fail to dent Savills expectations November 18, 2014 Upmarket estate agent Savills is weathering the moderation of the London property market and the fall in commercial trading volumes in Hong Kong, as other global hotspots continue to perform. In an interim statement published today, the group said it has been affected by the threat of a mansion tax, which could be implemented after [...]