Credit Suisse and Citco face £430m lawsuit over Chelsea property deal that lost Vatican £100m June 22, 2022 The filing of a €500m (£430m) lawsuit against Credit Suisse and Citco over the loss of millions in charitable funds through a Chelsea property deal has led to calls for greater transparency around the “origins of money used to purchase high-value property” in Britain. The calls come after Anglo-Italian financier Raffaele Mincione’s WRM Group filed [...]
Once Government offices, 9 Millbank offers the chance to own history June 22, 2022 Listed off-market to target only those so wealthy that they shut down restaurants when they go for dinner and aren’t familiar with the concept of commercial jets, The Conrad, a sprawling Thameside property at 9 Millbank, is a chance to own history. The Millbank building a short walk from Parliament was once used as a [...]
Developing old industrial land to unlock over £460bn worth of new housing, research finds June 22, 2022 Developing brownfield sites, industrial land which is now empty, could unlock more than £460bn worth of new housing, according to new research. The government is already looking to develop these spaces, as part of its Levelling Up scheme, which will form part of its pledge to build 300,000 new homes each year to keep up [...]
House prices continue to grow month by month, hitting an average £281,161 in April June 22, 2022 The average house price in the UK hit £281,161 last month, as the cost to own a home continues to climb month by month. House prices grew 1.1 per cent between March and April, according to the government’s latest figures, forming part of an average 12.4 per cent annual increase in price. While onlookers have [...]
Cost to rent a home jumps largest-ever amount in past year, says statistics body June 22, 2022 The cost to rent a home has increased by the largest-ever amount over the past 12-months, according to the latest figures from the national statistics body. Average rental prices paid by tenants in the UK has jumped by 2.8 per cent in the year to May, the Office for National Statistics revealed this morning, marking [...]
Government admits most Brits will not benefit from Boris Johnson’s ‘benefits to bricks’ housing plans June 22, 2022 Most Brits will not be able to make use of Boris Johnson’s “benefits to bricks” scheme to allow welfare payments to secure mortgages, the government has admitted. Earlier this month, the Prime Minister announced a plan to enable people who are in work but also on housing benefit to use welfare payments towards a mortgage, [...]
Berkeley Group profits rise to over £550m after ‘exceptionally volatile period’ June 22, 2022 The boss of property developer Berkeley Group hailed “extraordinary” progress made in the past year today as the firm posted a 6 per cent rise in pre-tax profits for the full year to April.
Bewildered: M&S hits out at Gove over public inquiry over iconic Oxford St flagship store redevelopment June 21, 2022 Marks and Spencer has slammed the housing minister’s decision to hold a public inquiry over a redevelopment plan of its Marble Arch store. The supermarket said it was “bewildered and disappointed” that Michael Gove had chosen to call in its plans to bulldoze the Art Deco flagship store on Oxford St. A public inquiry will [...]
Property market is hot but cooling amid cocktail of low stock, high inflation and uncertainty June 21, 2022 The UK’s property market is still going strong, despite fears that rising inflation and the cost of living crisis will choke growth. The number of properties changing hands fell again last month in comparison with its pandemic heights last year. However, with some 100,870 homes sold in May, the latest government data has found a [...]
New acquisitions to help Schroder European Real Estate Investment Trust weather economic storm June 21, 2022 Dealmaking and buyouts will help Schroder European Real Estate Investment Trust weather the geopolitical and economic storm brewing over the continent, one fund manager has said today. “New acquisitions will provide further diversification and help maintain the attractive dividend,” fund manager Jeff O’Dwyer said in a statement this morning, as the firm seeks “sustainable rental [...]