IWG swings to £650m loss but sounds optimistic note on future of offices March 9, 2021 Office space provider IWG swung to a £650.2m loss last year due to the impact of coronavirus on working habits, it announced this morning. Revenue fell from £2.65bn to £2.48bn and the company posted a loss of more than half a billion pounds, down from profit after tax of £77.3m in 2019. It reported a [...]
London house prices to boom over next five years, Savills predicts March 9, 2021 London house prices are set to boom over the next five years, estate agent Savills said as it upped its UK property market forecasts for 2021. House prices in London’s mainstream market are expected to rise 12.6 per cent in the five years ended 2025, the real estate firm said. Meanwhile prime central London house [...]
Home REIT invests £48m in property portfolio expansion to house homeless people March 8, 2021 Home Real Estate Investment Trust (REIT), which funds the acquisition and development of accomodation for homeless people, has bought 11 property portfolios in a deal worth £48.1m. The acquisition completes the full investment of the net proceeds of the firm’s £240m public listing in October last year. Following the deal, Home REIT has added an [...]
Mother’s Day gifts: Make 2021 a lockdown to remember March 6, 2021 As the first mother’s day under lockdown rapidly approaches, this year it’s more important than ever to get your gift just right. This year we have focused on the amazing food options you can lavish upon your wonderful mother – or you could even buy two and eat them together over a nice, long Zoom [...]
Tiktok leases new London HQ above Farringdon’s Crossrail station March 5, 2021 Tiktok has leased a new London office building above Farrington East Crossrail station, developer Helical announced today. The tech firm has taken on the entire six-storey Kaleidoscope development, which includes 88,500 sq ft of office space. The lease is for a 15 year term with a 10 year break clause, and includes a market rent [...]
House prices edge down last month as market slows March 5, 2021 House prices inched down in February as activity slowed but remain more than five per cent up year-on-year, new data released today showed. According to Halifax’s House Price Index, prices dropped 0.1 per cent last month compared to in January, with the average price now £251,697. However, in the quarter from November to February prices [...]
Prime outer London house prices boom as demand for extra space continues to rise March 5, 2021 House prices in prime outer London boroughs boomed last month as demand for more space has driven suburban property markets in the capital. In the year to February there were 1.1 per cent more transactions in prime outer London than over the previous 12-month period, underlying the strength of activity given the UK property market [...]
Coming or going? Aviva the latest to cut office space as rival bosses say ‘remote working can’t last’ March 4, 2021 Aviva the latest to cut office space as rival bosses say 'remote working can't last'
Budget reactions: Optimism and relief to Sunak’s plans March 4, 2021 Following Chancellor Rishi Sunak’s announcement yesterday, of a raft of new support measures alongside plans to shore up Britain’s finances in the wake of the coronavirus pandemic, the details of this year’s Budget gradually become clear to SMEs, entrepreneurs, startups and others in London and across the country. Sunak set out extensions to the furlough [...]
Cairn Homes reports 2020 profit slump as pandemic knocks down housebuilding March 4, 2021 Irish housebuilder Cairn Homes saw profit drop sharply in 2020 as Covid-19 restrictions battered the property industry. Cairn reported an operating profit decline of almost two thirds to €24.4m from €68m a year earlier. Meanwhile, revenue fell 40 per cent to €262m from €435m in 2019, while earnings per share plummeted at a similar rate [...]