London house prices: These capital commuter towns have seen the largest rises October 6, 2020 House prices in Greater London have edged higher in the past 12 months even as the outbreak of coronavirus posed fresh challenges for buying and selling property. Figures from Barclays Mortgages’ postcode property index have revealed the postcodes in the capital which have seen the fastest house price growth over the past 12 months. And [...]
Young Londoners buck trend to leave the capital due to coronavirus pandemic October 6, 2020 Young people are keen to continue living in London despite the trend, sparked by the coronavirus pandemic, to seek bigger and cheaper housing outside of the capital, according to the latest research. Research published this morning showed that 73 per cent of Londoners aged 25 to 44 were planning to remain in the capital, compared [...]
Chanel snaps up Bond Street boutique for £310m October 5, 2020 French luxury fashion brand Chanel has reportedly bought its boutique store on Bond Street for £310m in a vote of confidence for the central London commercial property market. Reports that the designer firm will pay around £70m above the £240m asking price for the property cements Bond Street’s status as a “safe haven”, despite plummeting [...]
High rents force three in four hospitality businesses to consider restructure or insolvency October 5, 2020 73% of London-based hospitality and leisure operators are considering a restructure or insolvency as a result of the economic impact of the ongoing pandemic. Advisory firm Cedar Dean, which surveyed 230 hospitality and leisure businesses with around 2,000 venues across the UK, found that rental obligations are currently the most pressing issue. 86% of London-based [...]
Businesses plan long-term return to office despite home working boom October 5, 2020 Most businesses will resume using their offices after the coronavirus crisis, despite a shift towards home working, according to a survey of company directors. The research found that 74 per cent of directors said they would keep increased home working arrangements, and half said they would reduce their long-term use of the office following the [...]
DTZ Investors backs London rental market with £70m co-living project October 5, 2020 London real estate firm DTZ Investors will provide £70m for a new “collective living” development, in a show of confidence in the capital’s rental market despite the impact of the coronavirus crisis. The Earlsfield development will be the second property delivered through the fund set up last year by DTZ Investors and co-living firm The [...]
UK housing market continues strong recovery as prices surge September 30, 2020 UK house prices rose by five per cent in September compared with a year previous according to the latest data from Nationwide. The building society said the annual rate of growth was at its highest in four years as the post-lockdown recovery continued. Its lending data revealed that there had been a 0.9 per cent [...]
Retail rent arrears to exceed £2bn after third quarter September 29, 2020 Retail rent arrears could exceed £2bn after today’s third quarter payment deadline, property industry body Revo has warned. The organisation said this morning that less than 50 per cent of rent due is expected to be paid by operators as the coronavirus crisis continues to impact the high street. So far this year the unpaid [...]
Debate: Should Sadiq Khan be allowed to freeze London rents for the next two years? September 17, 2020 Mayor of London Sadiq Khan yesterday said that rents should be frozen in London to prevent a predicted wave of evictions caused by Covid-19. He called for new powers to prevent any rent increases for two years in the capital, warning that half a million people could face eviction because of arrears built up during [...]
LGIM set to reopen property fund in October September 16, 2020 LGIM will reopen its property fund in October, seven months after the coronavirus crisis forced it to suspend dealing. In an update today, LGIM said its authorised fund manager, L&G Unit Trust Managers, intends to reopen the property fund and its feeder fund on 13 October. The board is now “confident” in lifting the suspension [...]