Redrow scraps interim dividend as coronavirus restrictions tighten March 24, 2020 Housebuilder Redrow is cancelling its interim dividend, anticipating a sharp drop in sales as the government tightens restrictions amid the coronavirus outbreak. The FTSE 250 company said it is cancelling its 10.5p interim dividend, amounting to £37m, which was due to be paid next month. Shares in Redrow are up five per cent. Redrow said: [...]
Coronavirus: Taylor Wimpey cancels dividend and draws down £550m March 24, 2020 Taylor Wimpey has cancelled its dividends for the year and drawn down £550m in credit facilities to protect its balance sheet against the impact of Covid-19. The housebuilder said it had felt the effect of government shutdowns in its UK and Spanish businesses over the past few days. Taylor Wimpey said it had put contingency [...]
Blackstone buys Clearbell Capital’s £120m logistics portfolio March 23, 2020 Private equity firm Blackstone has bought 22 logistics sites from Clearbell Capital as consumers turn to online shopping in response to the coronavirus outbreak. Clearbell Property Partners III, a fund managed by private real estate fund manager Clearbell Capital, has sold its industrials and logistics portfolio for £120m. The portfolio comprises of 22 small to [...]
Estate agents urge government to extend coronavirus support March 22, 2020 Estate agents have urged the government to protect the industry as house viewings drop and sales activity slows due to coronavirus. The sector has called for the government to extend the business rates holiday, which applies to retail and hospitality firms, to estate agent companies. The UK’s housing market looked set to bounce back this [...]
Selling your home? Think twice before dismissing the first offer March 20, 2020 There are numerous examples that I can recall where we have received a good offer for a property very soon after bringing it to the market, sometimes in a matter of days – only to have the owner reject the offer on the basis that it has been ‘too quick’. More often than not, this [...]
Interiors: Working from home? Here’s four tips to make it a bit more bearable March 20, 2020 Unless you’re a nurse, a checkout assistant or a delivery driver, chances are you’re going to be working from home for a while. For those who don’t have a home office set up already, this brave new world of endless conference calls in your living room is going to take some getting used to – [...]
Crest Nicholson cancels dividend and guidance on coronavirus concerns March 19, 2020 Housebuilder Crest Nicholson has cancelled payment of its final dividend and withdrawn its full-year financial guidance due to the coronavirus pandemic. The company also said it would draw down all of a £250m credit facility to help cope with the hit to its business from Covid-19 related shutdowns. Crest Nicholson said it would have £185m [...]
IFS says ‘unfair’ council tax system needs urgent reform March 19, 2020 The current council tax regime is “arbitrary and unfair” and should be overhauled as a part of the government’s levelling up agenda, according to a leading economic think tank. A new report from the Institute for Fiscal Studies (IFS) has called on the government to update the way council tax is calculated to make it [...]
Seven firms suspend UK property funds as virus casts uncertainty over assets March 18, 2020 Aberdeen Standard Investments and BMO have joined five other firms who have suspended their property funds after independent valuers introduced material valuation uncertainty clauses due to the coronavirus outbreak. The UK commercial property market is facing unprecedented challenges brought on by the pandemic. Valuation firms are now saying that they can no longer make reliable [...]
Aviva Investors suspends property funds as CBRE warns of market uncertainty March 18, 2020 Aviva Investors has suspended its property fund, following similar decisions by Kames Capital and Janus Henderson yesterday. In a statement, Aviva Investors said the coronavirus outbreak had impacted the UK property market and “made it difficult to value the property owned by the funds with the same degree of certainty as would otherwise be the [...]