Habito launches UK’s longest-ever fixed rate mortgages March 10, 2021 Habito has today announced that it will launch the nation’s longest-ever fixed rate mortgage, which will come without early repayment charges or exit fees. The “Habito One” will give buyers of all types access to long-term fixed rate periods starting at 10 years, going up to an unprecedented 40-year fixed rate term. The firm said [...]
Pandemic wipes almost £1bn off Covent Garden landlord Capco’s portfolio March 9, 2021 West End landlord Capital & Counties suffered a sharp drop in its property values last year, wiping almost £1bn of its portfolio. Capco, which owns Covent Garden, reported this morning that its total property value last year was £1.9bn, down from £2.8bn in 2019. The total property value of Covent Garden fell 27 per cent [...]
Marks & Spencer unveils plans to replace retail space with offices at Marble Arch store March 9, 2021 Marks & Spencer (M&S) has unveiled plans to redevelop its Marble Arch store, with some retail space set to be replaced by offices. Under proposals announced this afternoon, M&S said the lower levels of the West End store would remain as retail space offering its food and clothing and home ranges. However, the upper floors [...]
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 [...]