Softbank in talks to invest extra $1bn in Wework September 26, 2019 Softbank is planning to invest an extra $1bn in flexible office space provider Wework, changing a warrant agreement made before the firm delayed its initial public offering (IPO) plans. The Japanese investor originally agreed to pump $1.5bn into the co-working startup, allowing Wework to access the funds next April in return for Class A common [...]
Foxtons chair steps down after turbulent year September 26, 2019 The chair of Foxtons said he would step down this morning after half a dozen years at the head of he board during which the share price has plummeted. Gary Watts will have stepped down by the time the real estate agent holds its annual general meeting in May next year. Read more: Foxtons sales [...]
The modular model: Can factory-built homes solve the housing crisis? September 26, 2019 picture a vast warehouse somewhere in the north of England. Workers in hard hats are poring over intricate plans against a background of humming machinery. Robot arms slice through sheets of metal and wood as they pass by on a conveyor belt, precisely cutting out shapes that look like huge versions of Airfix models. Across [...]
Student housing provider IQ Student Accommodation appoints advisers for float or sale September 25, 2019 The owners of UK student housing provider IQ Student Accommodation (IQSA) have reportedly hired banks to advise on a float or a sale. IQSA has appointed Goldman Sachs, Morgan Stanley and real estate adviser Eastdil Secured to oversee the sale or listing of is £3.5bn student housing portfolio, Sky News reported. Read more: Greene King [...]
Mortgage approvals grow despite Brexit uncertainty September 25, 2019 The number of mortgages approved by banks grew last month despite the ongoing uncertainty surrounding Brexit. In total, 85,931 mortgages were approved by the main high street banks in August and mortgage approvals for home purchases were 3.2 per cent higher than the previous year as the 31 October Brexit deadline approaches. Read more: First-time [...]
London retains crown as best European city for real estate investment September 25, 2019 London has been ranked as the best European city for long-term commercial real estate investment potential for the third year running, helped by the strength of its tech sector. London was ranked first across five of six categories – inspiration, innovation, interconnection, infrastructure and investment – and was ranked second for the final category, inclusion. [...]
Wework chief executive Adam Neumann steps down following botched listing September 24, 2019 Wework co-founder Adam Neumann is stepping down as chief executive of the shared office business with immediate effect, in the wake of its botched initial public offering (IPO). Neumann had come under pressure from investors unhappy at the company’s plunging valuations, its undercooked listing plans and his own erratic behaviour. The company confirmed this evening [...]
Housing market uncertainty persists as property transactions remain flat September 24, 2019 Property transactions in August edged down slightly year-on-year, but buyers and sellers showed some signs of resilience despite the current Brexit uncertainty. There were 99,890 residential deals in August 2019, falling 0.9 per cent from last year but rising 15.8 per cent compared with the previous month, according to new HMRC data published today. Signs [...]
Reuben brothers invest £19m in modular homes developer Project Etopia September 23, 2019 Billionaire property tycoons David and Simon Reuben have invested £19m in Project Etopia, a housing developer specialising in modular homes. Project Etopia, which was founded in 2015, provides energy-efficient modular homes and school buildings that can be constructed in under four weeks. Read more: UK house price growth slows to seven-year low The Cambridge-based company [...]
The new rental apartments bringing ‘New York loft living’ to North London September 20, 2019 A new building of rental apartments has just launched, with the somewhat bold aim of bringing ‘New York warehouse-style living’ to Wembley. Ferrum, which is located close to Wembley Stadium, comprises 741 studio, one, two and three-bed homes which can be rented directly from the developer, Tipi. On entering the building, it’s clear that the [...]