Intu raises going concern doubts as losses deepen March 12, 2020 Embattled retail landlord Intu raised doubts over its ability to continue as a going concern this morning as it reported a sharp increase in losses last year amid store closures and rent reductions. The figures Shares plunged 16 per cent this morning as the company reported a £2.02bn loss for the year, compared to a [...]
London house prices: Rising demand pushes up property prices March 12, 2020 London house prices increased in February due to rising demand for homes in the capital, according to new research. In total 39 per cent of London contributors to a survey by the Royal Institution of Chartered Surveyors reported a rise in house prices last month, the highest amount since May 2014. Additionally, 27 per cent [...]
Budget 2020: Stamp duty hiked for overseas buyers March 11, 2020 The government will go ahead with plans to increase stamp duty for overseas buyers, chancellor Rishi Sunak announced today. He said the government will introduce a new stamp duty surcharge of two per cent for foreign buyers to make it easier for domestic buyers as part of a range of measures to tackle the housing [...]
The Westbury Hotel owner seeks £1bn sale of Mayfair portfolio March 10, 2020 Cola Holdings, the owner of the The Westbury Hotel, is seeking a £1bn offer for its Mayfair property estate, which also includes Bond Street’s Burberry store and a private members club. Kurdish-born millionaire Bakir Cola owns the group, which has recently received planning permission to redevelop the five-star hotel in Conduit Street to attract “top [...]
Coronavirus: Hostel firm Safestay suffers spike in school cancellations March 10, 2020 Hostel operator Safestay has warned that it has suffered a sharp drop in bookings and a growing number of cancellations as fears over the Coronavirus outbreak ramp up across Europe. The firm said that group bookings from schools and colleges have been cancelled. Some countries including Italy have temporarily closed schools to stop the spread [...]
Reforming business rates – is Land Value Tax really a viable alternative? March 9, 2020 | City Talk The Business Rates system has long been considered by businesses as outdated and in need of reform. It imposes its tax burden whether the business is “in the red or the black”, i.e. profitable or not. Also, whilst purported to be a tax on business collected by means of property, it has a distinct bias [...]
Real estate charity cyclists in 1,500km Regent’s Park ride after Mipim relay cancelled over coronavirus worries March 8, 2020 Cyclists from the real estate sector are trying to cover 1,500km around Regent’s Park this week after a planned charity relay to the Mipim conference in Cannes was cancelled over coronavirus fears. The annual Cycle to Mipim ride was cancelled after the real estate bonanza, which was set to take place in the south of [...]
UK house prices: Brexit clouds lift, but coronavirus threat looms March 6, 2020 UK house prices rose 2.8 per cent in February compared to the same month last year, Halifax data showed today. Homes’ values increased 0.3 per cent month on month and 2.9 per cent on a quarterly basis, Halifax’s House Price Index found. That left the average UK house price at £240,677 in February. But while [...]
Property of the Week: A Camden gothic mansion with ties to surrealist artist Nancy Fouts and Ally Pally March 6, 2020 Slip behind Mornington Crescent station in Camden, take the second left, and you’ll find yourself on Oakley Square. Walking alongside the manicured gardens, you’ll pass a row of stucco-fronted Georgian townhouses, identical save for the odd red door. When you get to the end of the block though, there’s a bit of a surprise. With [...]
Learn how to DIY your decor with these five London interior design courses March 6, 2020 Think of the times you’ve stood in one of your rooms at home that’s driving you mad – is it cluttered, or the paintwork’s dated, or the lighting terrible? Perhaps you’ve just moved and you’ve got a whole house to redecorate? There’s always the big-bucks option of hiring a professional designer. But why not get [...]