Sajid Javid pledges £600m to housing project building 50,000 new homes August 17, 2019 Chancellor Sajid Javid has announced plans to make £600m available to help a project building 50,000 new homes by investing in the necessary infrastructure. It is the latest spending pledge by the government ahead of a budget in the autumn in which Javid will set out the government’s spending and taxation plans for the next [...]
Property legal Q&A: I own a flat with a share of freehold. Do I still need the landlord’s consent before I carry out structural works to my flat? August 17, 2019 The fact you own a share of freehold does not bypass the terms of your lease. When a person owns a lease and a share of freehold they effectively wear two hats: one as a leaseholder and the other as a joint owner of the freehold. When you acquire a share of freehold, the lease [...]
Why you should be worried about the rise of the Bank of Mum and Dad August 16, 2019 The yearning to own one’s home is as British as a piping hot cup of tea, cricket, or a traditional roast dinner, and the UK’s rates of ownership-occupancy have traditionally been among the highest in Europe. Unlike many traditions, this desire hasn’t been dented by the complexities of modern life either. One recent survey revealed [...]
Belgravia’s billionaire strip: London’s new hotspot has £1.4bn property pipeline August 15, 2019 A strip of prime property in East Belgravia is undergoing a development boom with £1.4bn of investment in luxury homes and hotels in the pipeline, according to a new report. The plot of land between Upper Belgrave Street and Grosvenor Place, dubbed the billionaire’s strip, has been earmarked for private mansions, penthouses and VIP clubs. [...]
Wework lost $700m in first half, pre-IPO filing shows August 14, 2019 Wework lost nearly $700m (£580m) in the first half of the financial year, even as revenue doubled, the company announced in its first detailed financial results yesterday. The company, the listing of which next month is expected to value the business in the tens of billions, said it has no plans to start paying dividends [...]
London house prices continue to slide under Brexit pressure August 14, 2019 London house prices have continued their slide with a year-on-year fall of 2.7 per cent in June, figures from the Office for National Statistics (ONS) showed today. Read more: London house prices suffer worst plunge in 10 years The figure marked a slowdown from the 3.1 per cent drop seen in May, however, which was [...]
Canary Wharf veteran George Iacobescu to step down as chief executive August 14, 2019 The man who spearheaded Canary Wharf’s transformation from an abandoned dockyards to a thriving financial hub is to stand down as chief executive of the site’s owners after over two decades in the role, but will stay on as chairman of the company. Sir George Iacobescu, who is currently both chief executive and chairman of [...]
Henderson Park buys Irish real estate fund Green Reit in €1.3bn deal August 14, 2019 Real estate investment group Henderson Park today said it had agreed to acquire Irish real estate fund Green REIT in a €1.3bn (£1.2bn) deal. Green Reit floated in 2013 as Ireland’s property market began to recover after the country’s real estate crash. It put itself up for sale in April because its shares were trading [...]
New builds: Homes on the market this week including apartments in White City and Walthamstow August 9, 2019 White City Living, White City This Saturday, Berkeley’s St James division will launch the first show apartment at White City Living in West London. The apartment has been designed around the principles of Feng Shui by Jigsaw Interior Architecture. There are 1,800 new homes being built at the development, which sits next to the BBC [...]
This cottage might be the cheapest house on one of the world’s wealthiest streets August 9, 2019 As the name suggests, Billionaire’s Row in Hampstead Garden Suburb is home to some of the capital’s most prestigious properties, as well as some of the priciest. Also known as The Bishops Avenue, the street is known for its palatial mansions and attracts super-wealthy buyers looking for more space and seclusion than the likes of [...]