London offices at 10 per cent occupancy after work from home directive December 15, 2021 London offices plummeted to 10 per cent occupancy in the wake of fresh work from home guidance this week. Occupancy on Tuesday 14 December was down on the previous week’s figure of an average of 28 per cent occupancy, according to workspace technology company Freespace. The capital has been hit harder than other parts of [...]
Hammerson total gross sales proceeds hit £495m for year after contracts exchanged on Glasgow shopping centre December 15, 2021 Property developer Hammerson has exchanged or completed sales of six non-core assets for total gross cash proceeds of £92m since the half year. The development and investment firm said the largest asset was an exchange of an unconditional contract for the sale of Glasgow shopping centre Silverburn. The deal was from 50/50 joint venture partners [...]
China’s Evergrande: not so grand financial statements? December 15, 2021 | City Talk Evergrande Group is the latest listed company to unexpectedly find itself on the verge of bankruptcy. When businesses are thrust into public view for the wrong reasons, my first thought is always whether trouble could have been coming. To see if the Chinese property development giant’s travails could have been anticipated, I looked at its [...]
UK house prices go in reverse as market enters ‘new normal’ December 15, 2021 House prices have entered a ‘new normal’ after dropping 1.1 per cent between the end of the stamp duty holiday in September and October of this year. However, prices are 10.2 per cent higher year on year, marking the third month where annual growth has hit double figures. Year-over-year growth dropped from 12.3 per cent [...]
Mortgage lending expected to surge to record £316bn in 2021 December 13, 2021 Mortgage lending is expected to top £316bn by the end of 2021 after house sales rose to their highest level since the financial crash.
London Square inks £400m deal to buy final phases of Nine Elms development December 13, 2021 Residential developer London Square has inked a £400m deal to buy the final three phases of the Nine Elms Park development site in Battersea, south London. London Square has also agreed a partnership deal with build-to-rent developer Moda Living on land for two buildings on the site. London Square has exchanged contracts on a total [...]
West End ‘extremely concerned about long-term survival’ as new guidance comes into force December 13, 2021 Central London retailers are hopeful eager Christmas shoppers will offset the absence of office workers in the capital this month while warning businesses are running out of cash. New West End Company, which represents 600 brands, restaurants and businesses in the West End, said footfall for the week of 6 December was up three per [...]
King’s Cross hotspot for rental growth in city as student demand pushes prices higher December 13, 2021 Real estate experts have said it would take more than a minor setback with Covid variant Omicron to dent the sector’s recovery. The country would have to rewind to a situation like the start of the year, when the vaccine was in its early rollout and working from home was enforced for a long time, [...]
House market set to return to normality as sellers make it New Year resolution to move December 13, 2021 The housing market is set to return to a kind of normalcy next year, as it appears homeowners are setting a New Year resolution to move. The market has been strangled by historically low stock levels but according to Rightmove, valuation requests from home-owners are up 19 per cent on this time a year ago. [...]
Private equity snaps up Canary Wharf office block in cut-price deal December 12, 2021 Private equity firm Brookfield has inked a deal to buy a Canary Wharf office block for a slashed price while a fresh work from home order will see offices empty next week. According to reports in The Sunday Times, the private equity firm has agreed a deal to buy the headquarters of investment firm State [...]