Wework hits the brakes on London expansion after Softbank rescue deal November 1, 2019 Wework’s new owner has put its London expansion plans under review after Softbank stepped in with a massive bailout for the company, it is reported. The co-working space giant, which scrapped plans for an initial public offering (IPO) this year, has paused 28 possible deals as Softbank seeks to change tack. Read more: Wework ‘could [...]
Office Space: Inside the opulent Mayfair base of luxury property developer Clivedale November 1, 2019 Real estate firms’ offices tend to fit into one of two moulds: a converted Mayfair townhouse, an old-fashioned relic left over from the days where Hanover Square was overrun with estate agents in braces and pinstripe suits; or a clinical, corporate space interchangeable with that of any other property company, law firm or accountant. Super-prime [...]
Focus on Willesden: A well-connected area where North London buyers can upsize November 1, 2019 One of the universally acknowledged truths of the London housing market is that needing more space often means moving further out. But it need not mean going all the way out into the sticks – and the North West London neighbourhood of Willesden is testament to that. While it is on the zone two-three border [...]
Property of the Week: An East London mews house fit for a tech guru November 1, 2019 Mews houses are typically associated with quaint, stucco-ed streets in Kensington or Marylebone. But this mews house which has just come on the market at Peary Place, just off the bustling Roman Road in the heart of Tower Hamlets, has a rather different vibe. Like most mews, Peary Place was built as a stables in [...]
Revealed: The London boroughs most likely to avoid a Brexit house price crash November 1, 2019 So you’re a first-time buyer who has finally saved up enough to get on the housing ladder. All that’s left now is to decide which corner of the capital you’re going to invest your cash in. That decision is arguably more important than ever, given that a recession is a very real possibility – particularly [...]
Opinion: Things are looking up for London renters as price increases slow November 1, 2019 London’s property prices have long been regarded as endemically high, preventing many first-time buyers from purchasing their first home and boosting demand for privately rented properties. The result has been the emergence of Generation Rent: the demographic prepared to live like students in shared accommodation so that they can afford to be close to all [...]
Ex-Wework CEO Adam Neumann accused of pregnancy discrimination October 31, 2019 Ousted Wework chief executive Adam Neumann has been accused of discrimination by his former chief of staff, who has said she was belittled at the company for getting pregnant and then ultimately fired when she raised concerns. Read more: Wework could be worth ‘zero,’ says Bill Ackman Medina Bardhi alleged in a filing to the [...]
London hotel room rates drive revenue growth at PPHE October 31, 2019 FTSE 250 hotel group PPHE, which operates Park Plaza hotels, reported revenue growth in the third quarter driven by a strong performance at its London destinations. The company, which is also developing two London Art’otels in Battersea and Hoxton, said like-for-like revenue increased 5.6 per cent to £120.2m in the three months to the end [...]
Falling London house prices hit Foxtons’ revenue October 31, 2019 London estate agent Foxtons reported falling sales revenue in the third quarter as house prices in the capital took a hit. Sales revenue slumped 15 per cent to £8.4m, down from £9.9m as ongoing political uncertainty led to lower volumes, falling prices and fewer high value sales. Read more: Foxtons chair steps down after turbulent [...]
Crest Nicholson shares slump after profit warning October 31, 2019 Shares in Crest Nicholson slumped this morning after the FTSE 250 housebuilder issued another profit warning as new chief executive Peter Truscott outlined a strategic overhaul of the business. In a trading update this morning the developer said profit before tax, is expected to be between £120m to £130m for the year to 31 October, [...]