Segro asset value hit by write-downs February 21, 2012 SEGRO, the industrial property developer, said that it was hit by a 9.6 per cent decline in its net asset value (NAV) last year after bigger-than-forecast write-downs on its portfolio. The real estate investment trust said its NAV per share fell to 340p after the group wrote down the value of its non-core assets by [...]
Strong profits at BNP Paribas Real Estate February 21, 2012 BNP PARIBAS Real Estate enjoyed a strong performance in 2011 despite tougher market conditions, posting an 11 per cent rise in operating profits to €156m (£130.8m). The real estate advisory arm of France’s biggest listed bank – which posted full-year profits of £6bn last week – said turnover increased by six per cent to €658m [...]
Panamera GTS and BMW’s new-gen 3-series both score February 21, 2012 Porsche’s new Panamera shows that two more seats can still be sporty PORSCHE’s four-seat Panamera has sold surprisingly well. Though it’s pretty agile for such a large, heavy motor it’s never felt as sporty as it could have with a character that’s more luxury limousine than dynamic sportscar, even in its range-topping Turbo iteration. It’s [...]
CAR TALK February 21, 2012 FORD’S FIESTA-SIZED B-MAX Will Ford’s new B-MAX be the cleverest little car this year? The new Fiesta-sized MPV has its central body B-pillars incorporated into the doors so there’s a 1.5m long opening on either side of the car. Easy to get in and out of and you should be able to load large items [...]
House sales up 23% on last year February 21, 2012 There were 64,000 UK property sales in January, up 23 per cent compared the same month last year, according to figures from HM Revenue and Customs (HMRC). Sales numbers endured the traditional post-Christmas dip, falling from 86,000 in December. But the January figures are the highest since 2008. Yesterday the Council of Mortgage lenders said [...]
Desperate buyers pay huge premium on top properties February 20, 2012 THE RESTRICTED supply of property in the most popular areas in London has led to buyers paying premiums of up to £100,000 above the asking price, according to a report published yesterday by estate agents Cluttons. Domestic and foreign buyers have enthusiastically invested in London, causing the stock of houses on the market to fall [...]
House-hunters look to UAE to avoid Eurozone February 20, 2012 BRITISH house-buyers looking to invest abroad are increasingly willing to move outside of Europe, according to research from PrimeLocation.com. Searches on the website for Spanish properties plummeted 15 per cent in the final quarter of 2011, compared with the previous quarter, the website said in figures out today. Italy and France were close behind, with [...]
Mortgage loans up as recovery stays on track February 20, 2012 UK MORTGAGE lending rose in January, compared with the same month of 2011 – the sixth consecutive month of year-on-year growth, according to data out yesterday from the Council for Mortgage Lenders (CML). The CML figures showed lending was up 10 per cent, and the Mortgage Advice Bureau (MAB) corroborated the jump this morning, publishing [...]
Segro banks £80m through selling off industrial estates February 20, 2012 BRITISH landlord Segro said yesterday it has sold a portfolio of five non-core industrial estates to funds owned by Ignis Asset Management for £80.2m. The sale is part of the company’s plan to focus its UK multi-let industrial portfolio on London and South East. “The sale of these assets demonstrates that, despite the uncertain economic [...]
Tesco launches float of its Thailand property fund to raise up to £369m February 20, 2012 TESCO, the world’s third-largest retailer, launched the initial public offering of its Thailand property fund yesterday, aiming to raise up to £369m to finance future expansion. The offering is part of a trend among retailers in recent years to squeeze more value from their real estate assets, bundling them into a property fund, selling the [...]