Square Mile skyscraper to bring in Shard man Danny Lemon February 26, 2019 The City's tallest skyscraper has drafted in The Shard’s former manager as it prepares to open its doors later this year. Developers at 22 Bishopsgate, the 62-storey building in the Square Mile known as "Twentytwo", have hired Danny Lemon to oversee the set up and management of the trophy building ahead of its opening late this [...]
Housebuilder Persimmon profits top £1bn as it names new CEO February 26, 2019 Persimmon made £1.1bn in profits in 2018, the housebuilder confirmed today, as it named a new chief executive. Dave Jenkinson, the finance officer who has been acting chief executive since its former boss left under a cloud over his bonus last year, will take on the role permanently, Persimmon confirmed. Read more: Is Persimmon’s success [...]
Persimmon share price dips in wake of Help to Buy contract fears February 25, 2019 Persimmon was among the biggest FTSE 100 market fallers this evening as fears that the property giant could lose its Help to Buy contract weighed on investor confidence. The developer will be hoping to claw back positive sentiment in the City tomorrow in its full-year profit results, after shares closed down nearly five per cent [...]
Hammerson announces £500m property disposal programme as it swings to a loss February 25, 2019 Shopping centre owner Hammerson has outlined plans to offload more sites in a bid to raise more than £500m following activist investor pressure. The figures The disposal programme was outlined in Hammerson’s full-year results for 2018, in which the firm announced a £268.1m loss. In the year to 31 December net rental income dropped 6.2 [...]
What will it cost to refurbish our crumbling Houses of Parliament? February 25, 2019 From an engineer’s perspective, renovating historic or listed buildings is one of the trickiest projects you can undertake. Such is the case with the Palace of Westminster, which has long been unfit for purpose and is in dire need of a complete overhaul to bring it up to current working standards. It is a gargantuan [...]
Is Persimmon’s success built on solid ground? February 24, 2019 If you are a long-term Persimmon shareholder you will have done pretty well out of recent years. Starting 2012 at around £4 a pop, the stock closed last week near the £25 mark. The arrival of the government’s Help to Buy programme in 2013 may have had something to do with that meteoric rise. This [...]
Builders look to old and young to will in gaps from foreign workers after Brexit February 24, 2019 The construction industry may have to entice older employees not to retire as foreign labour dries up after Brexit, an industry body has said. The Construction Industry Training Board (CITB) said its members must attract new talent through more apprenticeships and welcoming under-represented groups. Read more: MJ Gleeson defies Brexit blues with surging profits But it [...]
Flexible office rents tumble as London boom fuels more spaces February 24, 2019 Fresh evidence of a boom in the capital’s flexible workspace market has come to light with a report out today that shows a sharp rise in new spaces coming to the market. Growing demand for shorter leases led to more than 150 new flexible office space business centres opening in Central London during 2018, marking [...]
Housing minister James Brokenshire ‘concerned’ over Persimmon’s Help to Buy scheme, reports say February 23, 2019 Housing minister James Brokenshire has raised concerns that Persimmon is not operating correctly within the Help-to-Buy scheme, according to reports. Brokenshire is “increasingly concerned” over the behaviour of the UK’s second biggest housebuilder, raising issues over leasehold, build quality and accountability, a source told Reuters. “Leasehold, build quality, their leadership seemingly not getting they’re accountable [...]
Most home purchases made by first-time buyers in 2018, research shows February 23, 2019 The majority of home purchases were made by first-time buyers last year for the first time in 23 years, according to new research. The number of first-time buyers reached 372,000 in 2018, the latest Halifax First-Time Buyer review shows, and now account for more than 50 per cent of all house purchases with a mortgage. [...]