Coronavirus: Mipim organisers insist event will go ahead February 26, 2020 Organisers of the international property conference Mipim have insisted the event will go ahead in Cannes next month despite a spike in coronavirus cases in Europe. In a statement yesterday event organisers said that Mipim 2020 “will be open for business” from 10 March, saying “all clients who are not affected by national or local [...]
Capital & Counties net asset value slides on Covent Garden revaluation February 26, 2020 Capital & Counties has reported a decline in net asset value (NAV) after the property group was hit by a decline in value of its Covent Garden holdings. The figures The real estate investment trust, which is listed in London and Johannesburg, said its EPRA NAV per share declined 10 per cent in 2019 to [...]
Blackstone to buy UK student housing group IQ from Goldman Sachs for £4.7bn February 26, 2020 Blackstone has agreed to buy the British student housing company IQ from Goldman Sachs in a £4.7bn deal. IQ Student Accommodations owns and operates 67 sites in 27 towns and cities in the UK. It is one of the leading providers of private purpose-built student accommodation, with 84 per cent of its portfolio value in [...]
Taylor Wimpey warns of squeezed profit margin for 2020 February 26, 2020 Flat house prices amid 2019’s prolonged Brexit uncertainty hurt Taylor Wimpey’s profit margin last year, with no recovery expected in 2020, it revealed today. The figures Taylor Wimpey’s profit before tax climbed 3.1 per cent year on year to £835.9m in 2019. But weak house price growth and building costs knocked the firm’s operating profit [...]
House prices return to pre-financial crisis levels February 26, 2020 House prices across English cities have risen above pre-Financial Crisis peaks for the first time since 2007, the latest research has found. Property in Central London recovered to pre-crisis levels in just 2.3 years, the fastest of all UK cities, as overseas buyers entered the market attracted by a weaker pound. Oxford and Cambridge followed [...]
Derwent hikes dividend as election boosts London office sector February 25, 2020 Property investment firm Derwent London hiked its dividend this morning as it said it has a “more confident outlook” for the capital’s office sector following the General Election result. The figures Derwent reported a total return of 6.6 per cent in the year ended 31 December. Net rental income increased 10.5 per cent to £178m, [...]
Hammerson’s losses widen as retail CVAs dent rents February 25, 2020 Retail landlord Hammerson today warned it will cut its 2020 dividend almost in half as losses mounted in 2019 after another tough year for retailers in which many renegotiated their rents. The figures The real estate giant sank to a £573.8m loss for its latest financial year, up from a £173.3m loss in 2018. While [...]
EY adds two key appointments to its Business Rates team February 24, 2020 | City Talk As the debate around business rates continues and speculation that it may be subject to one of the Chancellor’s key announcements on Budget day increases, EY has announced the arrival of two key appointments to its Business Rates team. Alex White joins the team as Associate Partner, having been a business rates specialist for the [...]
Countrywide and LSL confirm ‘ongoing’ merger talks February 24, 2020 Estate agent Countrywide has confirmed discussions over a reported £500m merger with rival LSL are “ongoing” after news of the possible tie-up leaked over the weekend. If Countrywide and LSL do tie the knot, they could create the UK’s biggest estate agent company with numerous brands under one umbrella. Countrywide made a brief announcement today [...]
Estate agents Countrywide and LSL ‘plot £500m merger’ February 23, 2020 Countrywide and LSL Property Services are said to be in talks over a £500m merger that would create the largest estate agency group in the UK. The companies, which are two of Britain’s largest listed estate agents, are in discussions over a potential all-share deal, Sky News reported. The negotiations are said to be “serious”, [...]