Pandemic impact: Another 100,000 UK businesses tumble into financial distress April 22, 2021 Almost 100,000 more UK businesses have tumbled into financial distress in the past three months as the impact of the pandemic continued to weigh on firms, according to new research published this morning. The latest quarter Red Flag Alert report by insolvency specialists Begbies Traynor found that around 723,000 businesses were in “significant financial distress” [...]
Hammerson completes retail park exit with £330m sale to Canadian private equity player April 21, 2021 Property giant Hammerson has confirmed that it has sold seven retail parks to private equity firm Brookfield in a £330m deal that completes the retail landlord’s exit from the struggling sector. The £330m price tag represents an eight per cent discount to the 31 December book value of £357m, and the deal concludes Hammerson’s disposal [...]
UK house prices rise at fastest rate since 2014 April 21, 2021 UK house prices soared in February at the highest growth rate recorded in more than six years – but London lagged behind the rest of the country. Average house prices across the UK increased 8.6 per cent in the year to February, up from eight per cent in January. This is the highest house price [...]
M&G reopens property fund after flogging retail assets April 20, 2021 M&G has reopened its property portfolio after flogging its retail assets more than a year after it froze dealing in the fund amid a surge in investor withdrawal requests. The asset management giant said today it will unfreeze the funds for dealing from 10 May. It suspended the property portfolio in December 2019 amid a [...]
Nationwide to lend first-time buyers five times their income on long-term mortgage April 20, 2021 First-time buyers with deposits as low as 10 per cent will be able to borrow five and a half times their income when taking out a longer-term mortgage, the UK’s biggest building society said this morning. Nationwide Building Society said that under its “helping hand” initiative, first-time buyers across the UK will have the option [...]
Hammerson collects less than half its rent even as restrictions ease April 20, 2021 Hammerson has received less than half of rent due in the second quarter even as lockdown restrictions ease and footfall returns to pre-pandemic levels. At group level just 40 per cent of Q2 rent has been received, with the UK collecting 48 per cent, France 23 per cent and Ireland 34 per cent. An aggregate [...]
Captain Tom has his own rose – buy one to support his work April 19, 2021 If you are planning on transforming your outdoor space into an English rose garden, now is the time to act. This most famous and romantic of blooms takes time and care to grow but can be the most rewarding of pursuits for keen gardeners. But if you still need an extra push, you can also [...]
Home buyers face highest-ever price tags as house prices jump by £7,000 in just four weeks April 19, 2021 Spring home buyers are facing the highest ever prices demanded by sellers, with the average price tag on a home having jumped by nearly £7,000 in the space of just a month. Across Britain, the increase of £6,733 or 2.1 per cent month-on-month pushed average seller asking prices to a new record high of £327,797 [...]
Inside Sheikh Mohammed’s British property empire April 17, 2021 Sheikh Mohammed, the controversial ruler of Dubai, has become one of the UK’s largest landowners, exceeding that of the Queen’s personal property portfolio. Spanning 40,000 hectares, Sheikh Mohammed bin Rashid al-Maktoum’s properties can be found on the most exclusive streets in London and in the most elusive locations in the Scottish Highlands, according to the [...]
What to consider if you’re looking to buy your dream ‘fixer-upper’ April 16, 2021 Over lockdown, social media platforms such as TikTok have played a huge role in a younger generation looking to buy their first home as a ‘fixer-upper’ project. With neutral aesthetics and dramatic transformations, putting your own stamp on a home has never been more appealing. Pete Mugleston, MD and mortgage expert at Online Mortgage Advisor [...]