Property of the week: Country charm meets city pad November 18, 2021 If decamping to a country house sounds like the dream move for you and your family, but you don’t actually want to sever ties with the capital, then this could be the perfect solution – no compromise needed. Heathview Gardens sits over four floors and covers 8,584 sq ft. The clue to its desirability lies [...]
Grainger resilient against pandemic side effects as pre-tax profits soar November 18, 2021 The UK’s largest listed residential landlord Grainger has reported a higher pre-tax profit after revenue was driven by roaring housing demand. In results for the year ended 30 September, the property firm declared profit before tax up 53 per cent. What’s more, adjusted earnings rose two per cent while like-for-like rental growth saw a one [...]
House of Fraser flagship Oxford St store to shut as firm warns of ‘inevitable’ further closures November 17, 2021 The House of Fraser flagship store on Oxford St is set to permanently close, in another blow to the capital’s shopping district. Frasers Group said it had been served notice by the landlord to close the site, after an application for planning permission to redevelop the site was given the green light. A spokesperson for [...]
September house prices show ‘last of stamp duty sizzle’ November 17, 2021 UK house prices leapt in the year to September in the run up to the final stamp duty holiday deadline, government figures show. HMRC’s latest house price index shows that house prices climbed 2.5 per cent in September and 11.8 per cent annually. The average price of a property in the UK was £269,945, hitting [...]
Life Science raises £350m in over-subscribed IPO as it plots ‘Golden Triangle’ growth November 17, 2021 A real estate investment trust (REIT) Life Science has raised gross proceeds of £350m as it anticipates a stock market debut this week. New ordinary shares were issued at £0.01 each and Life Science has made an application for 350m shares to be admitted to AIM. The admission will make it the first London listed [...]
Workspace bets on the office return with £45m Islington acquisition November 17, 2021 Office-space provider Workspace has announced it has bought out a smaller competitor, The Busworks, in a £45m deal as more people return to offices in London. The FTSE-250 company today said it will upgrade the iconic building, a former Victorian bus factory from 1888, which is currently being used as office spaces to rent. The [...]
British Land boosts profits as rent collection improves and demand grows November 17, 2021 Commercial landlord British Land swung to a half-year profit on improved rent collection and higher value of its office spaces and retail parks.
City of London gives green light for new office tower as confidence in the Square Mile returns November 16, 2021 The City of London Corporation this afternoon approved plans for a new 24-storey office tower on Houndsditch in the Eastern Cluster, the Square Mile’s seventh tall building to be approved so far this year. The City’s Planning and Transportation Committee backed Brockton Everlast’s scheme, designed by architects AHMM, which will provide roughly 56,500 sq m [...]
Back in black: Bluewater owner Landsec swings to £275m half-year profit November 16, 2021 Bluewater shopping centre owner Land Securities has revealed it swung to a half-year profit as the retail sector bounces back and workers return to offices thanks to the lifting of pandemic restrictions. The group, also known as Landsec, posted a pre-tax profit of £275m for the six months to September 30, against losses of £835m [...]
Landlords hiking rents at fastest pace since 2008 as demand for housing in London shoots up November 16, 2021 Private sector rents in September were 4.6 per cent higher than a year earlier at £968 per month on average, marking the strongest growth in 13 years. The fastest rice since 2008 comes as strong demand outstrips supply, according to an index. Excluding London, rents across the UK were up by 6 per cent annually, [...]