Could ditching the office make us all poorer? November 12, 2020 While we have in many ways adjusted to life in a pandemic, the profoundly disorientating changes we’ve seen since the initial nationwide lockdown are stark. The “death of the office” narrative has persisted through the easing and then reimposing of lockdown restrictions, and while no one can predict exactly how this will play out, it [...]
The most extraordinary hampers in the world. All wrapped up. From Harrods, with love. November 11, 2020 | Sponsored As an exceptional year draws to a close, finding an impactful way to say“thank-you” is more important to companies than ever. With the festive season more likely to be celebrated at home, what better way to recognise the contribution of colleagues and show appreciation to loyal clients than with a Harrods Christmas Hamper. Harrods Corporate [...]
£200m Mayfair office redevelopment gets green light November 11, 2020 Developers have been given the go-ahead for a £200m project to transform Mayfair’s Lansdowne House into office and retail space. Westminster City Council granted planning permission to real estate firm Core to redevelop the property in Berkeley Square. Core said the project is a “huge boost” for central London and the city’s office market, despite [...]
Landsec sinks to £835m loss but backs London’s office sector November 10, 2020 Commercial real estate owner Landsec sunk to a £835m loss in its half-year results due to the impact of the coronavirus pandemic, but reported strong investor interest in London’s office market. Landsec’s share price jumped 7.37 per cent to 690.9p despite mounting losses after the landlord revealed its optimistic outlook on the central London office [...]
Westfield owner rejects €3.5bn rights issue after shareholder backlash November 10, 2020 Shareholders in the owner of Westfield shopping centres have voted against a controversial €3.5bn (£3.1bn) rights issue, the company said today. Unibail-Rodamco-Westfield said its proposals for a capital increase had failed to win the required two-thirds majority following a remote vote that closed yesterday. The Paris-headquartered company faced fierce opposition over the plans from a [...]
Persimmon to pay extra dividend on back of ‘robust’ summer performance November 10, 2020 Housebuilder Persimmon today announced that it would pay an interim dividend of 70p per share in December after fending off the challenges of the coronavirus pandemic. The extra payout comes on top of a 40p per share dividend paid in September, and means that the company will have fully replaced its previously delayed 110p per [...]
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 [...]