Holiday homes: Limassol seeks new lease of life as a luxury property hotspot December 6, 2019 Cyprus has long been a favourite family holiday destination – sunny nearly all year round, moderately priced and famed for its homely Mediterranean cuisine and relaxed atmosphere. Glitzy St Tropez it is not, but that is all set to change as Limassol – located on Cyprus’ south coast – sets its sights on becoming Europe’s [...]
A festive trip to Harrods reveals Insta-ready windows and a new Homes section December 6, 2019 For a special Christmas treat, when I was a child we always went to see Santa in his grotto in a department store. If Harrods is your go-to grotto (he’s been there since 1955), your children will encounter the bearded one in a Secret Forest decorated with Swarovski crystal (a girl’s second-best friend). Visiting last [...]
Focus on Southgate: Second steppers find space in this family home hotspot December 6, 2019 Southgate in North London is a magnet for families, and it’s easy to see why. Not only does it have high-performing schools and an abundance of ample-sized properties, it also has plenty of green space (Grovelands, Broomfield and Oakwood parks are all nearby) and excellent links to central London thanks to its zone four Piccadilly [...]
Help to Buy: Most popular London locations for first-time buyers revealed December 6, 2019 South London dominated the most popular locations for Help to Buy home purchases, new research has found after the government ISA scheme came to an end. Lewisham, Deptford and Croydon were all popular with buyers seeking to get on the property ladder, as first-time home owners were priced out of previously popular locations such as [...]
Blackstone mulling £4bn offer for student property giant December 5, 2019 Private equity giant Blackstone is reportedly mulling a £4bn swoop on one of Britain’s largest student property developers. IQ Student Accommodation has attracted the attention of Blackstone ahead of a potential initial public offering (IPO) next year, according to Sky News. Read more: Capco will officially become a real estate investment trust The broadcaster has [...]
AJ Bell boss fears ‘domino effect’ after M&G fund suspension December 5, 2019 The suspension of M&G’s £2.5bn property fund risks triggering a “domino effect” in the sector as investors rush to withdraw their money, the head of investment platform AJ Bell has warned. Andy Bell told City A.M. the suspension could be “contagious” for the sector because a “domino effect” could lead to further property fund suspensions. [...]
Why another property fund freeze was inevitable December 5, 2019 Why does it feel like we have been here before? Well, it’s because we have. It wasn’t that long ago when thousands of investors in property funds flocked to the exit door after the referendum, forcing several major asset managers to temporarily block withdrawals. So cue the deja vu when M&G yesterday suspended trading in [...]
M&G suspends trading in £2.5bn property fund over Brexit fears December 4, 2019 Trading has been suspended in M&G’s £2.5bn property fund after investors rushed to withdraw their money. Asset management giant M&G said the Property Portfolio has seen unusually high outflows, and blames continued Brexit-related political uncertainty for the fund suspension, which had made it difficult to sell commercial property. Read more: UK property investors fear Brexit [...]
Pakistani property tycoon Malik Riaz Hussain agrees £190m settlement with UK authorities December 3, 2019 Pakistani property tycoon Malik Riaz Hussain has agreed to hand over £190m to UK authorities, following allegations that the funds could have been proceeds of crime. The National Crime Agency said today it had reached a settlement with Hussian, who owns development company Bahria Town – one of the largest private sector employers in Pakistan [...]
Wework rival Rocketspace exits UK December 2, 2019 Wework rival Rocketspace is planning to pull out of the UK and will close its London co-working office by next year. The San Francisco-based firm, which rented out space to London freelancers and start-up businesses at a shared office in Islington, said it has decided to “cease operations in the UK”. Read more: The big [...]