Global flight to risk-free income good for London: BNP Paribas RE’s UK chief November 9, 2020 A frantic search among global investors to pump capital in relatively safe investments is increasingly driving allocations across London, according to the CEO of BNP Paribas’ real estate division in the UK. Etienne Prongué, since July CEO of BNP Paribas Real Estate UK, said that a range of recent transactions are clear indicators that foreign [...]
Taylor Wimpey shares surge as housebuilder hikes profit forecast November 9, 2020 Shares in housebuilder Taylor Wimpey soared this morning after the property developer said it expects to beat profit forecasts in 2021. The FTSE 100 firm said that a strong recovery of the housing market means it will beat analysts’ top operating profit forecast of £626m. Profit will be “materially above” previous expectations as demand for [...]
Countrywide in takeover talks with rival estate agent Connells November 9, 2020 Countrywide is in talks with rival estate agency Connells over a potential takeover that would value the company at roughly £82m. The firm today said it had received an initial offer of 250p per share from Connells, well above its closing price of 145p last week. Countrywide said the offer was at an early stage [...]
Housing market fends off significant hit of second lockdown November 9, 2020 While the second lockdown in England has had a detrimental effect on the country’s hospitality and leisure industries, the housing market is having an entirely different experience. The early impact of the second lockdown is bearing little resemblance to the hit it took in March, according to estate agent Knight Frank. UK house prices have [...]
Wellcome Trust offers to buy developer Urban & Civic for £506m November 6, 2020 The Wellcome Trust has made a £506m offer for housing developer Urban & Civic for £506m, as the health research charity’s investment arm bets on the residential property sector in the south of England. The charity, which has an investment fund worth around £26.8bn, said the recommended offer is “fully aligned with our existing strategy [...]
Redrow plans to reinstate dividend as London exit progresses November 6, 2020 Redrow announced it has made progress on pulling out of the London market as the developer focuses on the post-pandemic changes in consumer behaviour, saying it will reinstate its dividend at its half-year results. The housebuilder said it has exited three of the six London sites it had decided not to develop and is continuing [...]
UK house prices see fastest growth in four years but monthly rate slows November 6, 2020 UK house prices grew at their fastest annual rate since 2016 in October, new figures have shown, although month-on-month price growth slowed considerably. House prices jumped 7.5 per cent in October, according to the Halifax house price index, compared to 7.3 per cent in September. Yet growth slowed to just 0.3 per cent when looked [...]
Airbnb suspends 800 party houses in crackdown on antisocial behaviour November 6, 2020 Airbnb has suspended more than 800 UK property listings as part of a crackdown on party houses. More than 13,500 booking requests have also been blocked as part of a pilot to prevent under-25s to rent homes close to where they live in a bid to stop anti-social behaviour. Airbnb removed listings that have received [...]
Carlyle Group buys UK retirement homes group Beechcroft November 4, 2020 Private equity firm The Carlyle Group has acquired UK retirement homes group from Alchemy Partners for an undisclosed sum. The US investment giant’s €540m Carlyle Europe Realty fund invested in Beechcroft, which owns a portfolio of homes in Greater London and South East England. Founded more than 35 years ago, Beechcroft covers the entire development value [...]
Crest Nicholson shares soar after housebuilder hikes profit expectations November 3, 2020 Shares in Crest Nicholson soared this morning after the housebuilder hiked its profit forecast following strong sales after coronavirus lockdown restrictions were lifted. The FTSE 250 firm said adjusted profit before tax is expected to be significantly ahead of the previous forecast of £37.9m, at around £45m. The London-listed developer’s share price surged more than [...]