Investment in UK supermarket property surges to six-year high February 5, 2020 UK supermarket property deal value surged to a six year high last year as investors targeted retail real estate with steady returns. According to the latest research, property investors pumped £1.78bn into the UK supermarket sector in 2019, an 80 per cent jump on the previous year. There were 48 transactions during the year, up [...]
Investors plan to plough billions into UK real estate February 4, 2020 Real estate investors are planning to invest billions of pounds into UK property this year, after the General Election offered some clarity on Britain’s departure from the EU. Investment in the UK’s property market had slowed following the vote to leave the EU more than three years ago. However, the recent Conservative election victory has [...]
UK PMI: Construction sector shows signs of life after election February 4, 2020 Output in the UK’s construction sector in January fell at its slowest pace since May of last year, survey data has shown, in a sign of green shoots for Britain’s builders amid lower political uncertainty. The IHS Markit/Cips gauge of construction output rose to 48.4 in January from 44.4 in December. The reading was still [...]
The big freeze: Investors feel the chill in M&G’s frozen property fund February 4, 2020 December and January have been cold dark months, especially for investors whose money has been frozen in M&G’s £2.5bn property fund since the beginning of winter. The asset management company felt compelled to suspend trading on its Property Portfolio fund on 4 December, due to the high volume of withdrawals by investors in the preceding [...]
Hostel chain Safestay reports strong start to 2020 February 3, 2020 Boutique hostel brand Safestay said it had “momentum” going into this year after sales surged in 2019 following its portfolio expansion. Total revenue increased 25 per cent to £18.3m last year as the hostel chain opened eight new venues, taking its total portfolio to 21 sites and more than 5,100 beds. Like-for-like revenue was up [...]
Flexible office firms push ahead with growth in competitive market February 3, 2020 The UK’s biggest co-working office firms grew rapidly last year, despite operating in an increasingly competitive market. Shared office providers grew their portfolios by 22 per cent in the last year, as major players such as Wework expanded into new global markets. The value of Wework’s UK portfolio jumped 30 per cent from £3.05bn to [...]
Property of the Week: Old or new? Take your pick on Portobello Road January 31, 2020 It may be home to the world’s largest antiques market; but Portobello Road in Notting Hill is surely just as renowned for its property. Tourists and influencers alike make the pilgrimage to W11 to take pictures with the row of brightly coloured Georgian houses, which have become such a symbol of London that they feature [...]
Square Mile police station to be transformed into five-star hotel January 30, 2020 The City’s Grade II* listed Wood Street Police Station is set to be transformed into a five-star hotel. The City of London Corporation has sold the building to Magnificent Hotels, after deciding the police station was “surplus to operational requirements”. The police force will be based at the Wood Street station until around December this [...]
Retail property market misses out on ‘Boris bounce’ January 30, 2020 London’s retail property market has continued to struggle, despite a bounce in the wider commercial real estate sector driven by the General Election result. Occupier demand in the retail sector fell in the fourth quarter of last year, according to research published today that found 70 per cent of chartered surveyors in the capital had [...]
UK house prices rise 1.9 per cent as buyers hail 2020 ‘Boris bounce’ January 29, 2020 UK house prices grew at their fastest rate in over a year at the start of 2020, according to Nationwide, as experts hailed Boris Johnson’s election victory. The housing market posted a 1.9 per cent annual rise in January, beating December’s 1.4 per cent climb. That followed 12 months of consecutive growth below the one [...]