Aviva Investors to shutter property fund over liquidity concerns May 19, 2021 Aviva Investors will shutter its suspended UK property fund this summer over concerns about liquidity and the value of the portfolio. The asset manager suspended the fund in March last year after the outbreak of Covid-19 sparked uncertainty over its valuation. In a statement today Aviva said it had become “increasingly challenging to generate positive [...]
US law firm eyes City skyscraper 22 Bishopsgate for new headquarters May 19, 2021 A US law firm is said to be eying up office space in the new 22 Bishopsgate skyscraper, marking a major show of confidence in the City after the pandemic. Skadden, Arps, Slate, Meagher & Flom is closing in on a deal to lease several floors in the building, which is the largest building in [...]
London houses now average £500,000, as UK-wide prices rise at fastest rate in 14 years May 19, 2021 London houses now average £500,000, as UK-wide prices rise at fastest rate in 14 years
City Moves: Who’s switching jobs in the Square Mile this week? May 19, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Ex Co-op CEO joins Boomin’s board Property site Boomin has bagged itself a retail veteran this week, who is set to join the board as a non-executive director at its next [...]
West End landlord Great Portland Estates swings to loss as tourists and Londoners stay at home May 19, 2021 West End landlord Great Portland Estates slump as tourists and Londoners stay at home
Checking out: Airbnb shares dive as insiders are allowed to sell following last year’s IPO May 17, 2021 Airbnb shares dropped by almost 6 per cent after insiders became free to sell their shares for the first time since the home rental firm’s IPO in December 2020. Today’s drop comes only days after Airbnb beat Wall Street expectations for first-quarter gross bookings and revenue on May 13, as speedy Covid-19 vaccinations and easing [...]
Average house prices hit new record but London prices stay still May 17, 2021 The recent surge in house prices shows no signs of slowing down, with May seeing a new national record for the price of property coming to market. According to Rightmove’s House Price Index, the cost of the average property rose 1.8 per cent this month, to £333,564. The boom in prices is largely driven areas [...]
End of lockdown and decade-low rents entice Londoners back to the city May 14, 2021 Londoners that left the capital during coronavirus lockdowns are heading back to the capital as the city begins to open up again. Rents in central London locations have declined sharply during the pandemic, as Londoners left the city and lockdown saw fewer people moving to the capital for work. However that trend looks set to [...]
Crest Nicholson sells stake in Surrey film studio for £45m May 14, 2021 UK property developer Crest Nicholson has sold its 50 per cent stake in a film studio joint venture for £45m. Crest Nicholson, which usually focuses on house building, said it has entered into an agreement with JV partner Aviva to sell its share of Longcross Studio in Surrey. The transaction, which is expected to complete [...]
Residential landlord Grainger confident in future of London’s ‘attractive’ rental market May 13, 2021 Residential landlord Grainger said it is confident in London’s ability to bounce back from the coronavirus pandemic, despite slumping rental prices in the capital. The FTSE 250 developer said this morning that its “conviction in London’s rental market remains”. “As a leading city, London will continue to be an attractive location to live in and [...]