Hunter becomes the hunted: property firm sold to TPFG for £24m January 28, 2021 Real estate firm Hunters agreed this morning to a takeover by The Property Franchise Group (TPFG) to create an enlarged franchised estate agent with just over 400 branches. TPFG is set to acquire Hunters for £24m after the approval of the firm’s founder, chairman and MP Kevin Hollinrake. The acquisition should allow for cost synergies [...]
Office demand drops as Workspace reports 33 per cent fall in enquiries January 28, 2021 Workspace remains optimistic about the future of London’s office work despite a sharp drop in enquiries throughout the pandemic. This morning’s results show the group averaged 672 enquiries per month in the third quarter, a 33 per cent drop from the previous year. Lettings per month also fell by 3.4 per cent to 109, driven [...]
Shakespeare: Boohoo buys Debenhams brand to broaden its customer base January 27, 2021 Online fashion giant Boohoo has bought the Debenhams brand and website for £55 million, meaning its remaining stores will be forced to close. Boohoo already purchased the Karen Millen and Coast brands in 2019, however this is the first time the e-tailer has stepped out of the fashion category, with Debenhams enabling entry to the [...]
The ‘lifeblood of the City’ must return to offices after pandemic, Peel Hunt boss says January 26, 2021 The chief executive of Peel Hunt called on “the lifeblood of the City” to return to offices after the pandemic, as the investment bank announced it is moving to a new building in Liverpool Street in a vote of confidence in London’s recovery. Peel Hunt boss Steven Fine said that the firm – which allowed [...]
Crest Nicholson reinstates dividend despite swinging to a loss January 26, 2021 UK housebuilder Crest Nicholson swung to a loss last year due to the impact of the coronavirus pandemic, but said it will reinstate its dividend later this year. The company reported a loss after tax of £10.7m compared to profit of £82.5m in the previous year. Revenue fell from £1.09bn to £677.9m, and the firm [...]
Pubs and restaurants struggle to pay rent due to lockdown restrictions January 25, 2021 Commercial landlords collected just 77 per cent of rent in the final quarter, as retail, leisure and hospitality firms struggled under the pressure of lockdown restrictions. The latest research showed that pub, bar and restaurant tenants paid 23 per cent of rent as sales were decimated by Covid-19 restrictions in the crucial Christmas trading period. [...]
London house prices: Which exclusive areas suffered the biggest drop in property values? January 25, 2021 House prices in some of London’s most exclusive neighborhoods plunged due to the coronavirus pandemic, according to the latest research. Sold prices across prime central London postcodes have fallen 10 per cent since the start of the pandemic, while property values across the capital grew three per cent on average. The W1J postcode in Mayfair [...]
London first-time buyers undeterred by Covid and rising house prices January 25, 2021 First-time buyers in London were largely undeterred by the coronavirus pandemic and rocketing prices last year, the latest research found. London’s first time buyer figured dipped six per cent in 2020 as the housing market was closed for months during the first national lockdown. However the slump was the lowest in the capital compared to [...]
Mayor of London pledges 999-year shared ownership lease to tackle unfair extension costs January 22, 2021 Sadiq Khan has stood up for leaseholders in the capital by pledging a 999-year shared ownership lease on homes until 2026. The mayor has delivered a new expectation that all shared ownership homes built under his new £4bn Affordable Homes Programme are sold on a long-lease basis. He wants London to lead by example and [...]
London developer extends stamp duty holiday to October January 21, 2021 London developer Galliard Homes has extended the stamp duty holiday by six months, with the property company footing the bill. The company has extended the holiday to 1 October, while the official government tax break ends on 31 March, amid industry-wide calls for the deadline to be delayed. Galliard Homes said the extension, which applies [...]