London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
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 [...]
Spanish retail billionaire zeroes in on £600m London building deal December 2, 2019 A Spanish retail billionaire who owns fashion chain Zara is close to acquiring a West End office block for £600m. Amancia Ortega, via his real estate investment vehicle Pontegadea, is set to acquire The Post Building a 320,000 sq ft development in an ex-Royal Mail sorting office on Museum Street in Holborn. A deal is [...]
Civitas Social Housing raises interim dividend as profit jumps December 2, 2019 Civitas Social Housing has raised its interim dividend after reporting increases in pre-tax profit and revenue for the first half as the value of its portfolio continued to climb. Profit before tax rose 65 per cent to £17.4m during the six months to 30 September at the real estate investment trust, while revenue rose 45 [...]