UK takes top-spot in European property investment market December 7, 2020 A recent global survey by international law firm DLA Piper, showed that the UK is considered prime real estate by investors, following Brexit. The survey of 500 investors, developers, and asset managers from across Europe, China and the US, ranked the UK highest for future residential property investment. The study showed that overall, the European [...]
UK house prices grow at strongest pace in four years December 7, 2020 UK house prices soared by 7.6 per cent in the year to November, according to the latest figures from Halifax, as buyers sought more space and tried to beat the end of the stamp duty holiday. House prices rose 1.2 per cent month on month and 7.6 per cent year on year to hit an [...]
Connells submits firm £112m offer for Countrywide December 7, 2020 Estate agency group Connells has upped its offer for rival Countrywide to around £112m, after making an earlier offer was rejected. Connells today announced a firm cash offer for Countrywide, the UK’s biggest listed estate agent, at a price of 325p per share. That was up from the 250p price floated in November. The group [...]
Berkeley Group’s belief in London is ‘resolute’ despite pandemic hit December 4, 2020 Berkeley Group has reaffirmed its commitment to London even as its profits took a hit from pandemic uncertainty. Chief executive Rob Perrins said the company’s “belief in London and our developmetn approach is resolute” as it reported its interim results. The company has acquired three sites in London this year – Borough Triangle in Southwark, [...]
UK construction industry sees biggest rise in orders since 2014 – PMI December 4, 2020 By David Milliken LONDON (Reuters) – Britain’s construction industry grew faster than expected last month, boosted by the strongest orders since 2014 amid a boom in house prices, a survey showed on Friday. The IHS Markit/CIPS construction Purchasing Managers’ Index (PMI) rose to 54.7 in November from 53.1 in October, its strongest since July and [...]
Activist investor Browning West attempts to oust Countryside chairman December 2, 2020 Activist investor Browning West has called for developer Countryside to remove its chairman and sell its private house building business in a letter to the FTSE-250 firm’s board. The US-based shareholder this morning said leadership changes at Countryside are “immediately required”, claiming the developer has “several significant deficiencies”. Browning West said that Countrywide’s partnerships division, [...]
Exclusive: Capital gains tax on French properties to soar for UK residents post-Brexit December 2, 2020 UK residents with a second home in France will have to pay substantially more capital gains tax on property sales starting from next year when Britain leaves the Brexit transition period. French tax authorities confirmed today that UK residents will no longer benefit from the EU exemption from a social levies tax and will need [...]
Countrywide rejects £82m takeover bid by rival estate agent firm Connells December 2, 2020 Estate agent chain Countrywide has rejected an £82m offer from rival firm Connells, and announced it has received an improved proposal from private equity investor Alchemy Partners. The company said today that it had considered the 250p per share cash offer from Connells – a subsidiary of Skipton Building Society – but has unanimously rejected [...]
Cath Kidston returns to the high street with flagship Piccadilly store December 2, 2020 Cath Kidston has this morning opened a flagship store in Piccadilly, which will be its only physical branch after the retro-inspired retailer fell into administration earlier this year. The retailer closed all of its 60 UK stores in April, resulting in the loss of 900 jobs, after its Hong Kong private equity owner Baring appointed [...]
Canary Wharf redevelopment gets green light as landlords seek Covid-friendly offices December 1, 2020 Redevelopment plans for a Canary Wharf office block have been given the green light, as property owners seek to capitalise on demand for Covid-19 secure office space. Real estate asset management firm Quadrant and funds managed by Oaktree Capital Management have secured planning permission to redesign 30 South Colonnade in the east London financial district. [...]