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 [...]
Landlord New River bucks trend to collect majority of retail rents January 21, 2021 Commercial landlord New River has bucked the high street trend and collected the majority of rent due in December due to the high number of essential retail tenants in its property portfolio. The real estate investment trust (REIT) said it had received 70 per cent of retail rents due for the fourth quarter, with 10 [...]
Countryside Properties makes progress with separation of housebuilding division January 21, 2021 Countryside Properties is making progress with the separation of its two divisions after a strong performance in the first quarter. The FTSE 250 firm said trading in the three months to 31 December was in line with expectations and is 80 per cent forward sold for the year. Total completions are up 17 per cent [...]
Sunak under pressure to extend stamp duty holiday as tax break sparks housing market boom January 21, 2021 Housing transactions boomed at the end of last year driven by buyers rushing to complete deals before the stamp duty holiday deadline, putting pressure on government to extend the tax break. UK residential transactions in December were 31.5 per cent higher than the previous year, and jumped 13.1 per cent compared to November, buoyed by [...]