Low-end offices face glut of demand as start-ups opt for fancy co-working spaces November 14, 2018 Office-sharing companies such as Wework are pressing down demand for lower-end offices in London as start ups move into plush new premises. The proliferation of co-working spaces is creating a “glut” in the secondary office space, research from Deloitte shows. Companies like Wework are taking some of the best offices in London, and represent about [...]
New Bond Street named the third-most expensive shopping street in the world November 14, 2018 West End thoroughfare New Bond Street has been named as the world’s third-most expensive shopping street today in a new global survey. Rent on New Bond Street came in at $1,744 (£1,344) per sq ft per year, behind the main street of Hong Kong’s Causeway Bay on $2,671 per sq ft and Upper 5th Avenue [...]
Profits crash again as ‘frail’ McCarthy & Stone outlines plan to cut costs November 13, 2018 Profits collapsed at retirement housebuilder McCarthy & Stone today as it posted its full year results. Profit before tax fell 37 per cent year on year to £58.1m, down from £92.1m in 2017, as the housebuilder blamed a rise in building costs, rising operating costs, as well as extra marketing to promote its latest homes. [...]
Landsec profits rise despite retail’s property slump November 13, 2018 Property developer Landsec recorded a rise in profits in its half-year results today, despite a fall in property values caused by the struggling retail sector. The figures Profits before tax rose to £42m, up from £34m last year. Revenue rose 10.3 per cent to £224m compared to the same period of 2017. Dividend per share was [...]
Wework bags $3bn in additional funding from Softbank November 13, 2018 Flexible workspace provider Wework has secured an additional $3bn (£2.3bn) in funding from Softbank, as it pushes ahead with its global expansion plans despite continuing to report losses across the board. The new funding builds on the $1bn that Wework received from the Japanese mega-investor in the form of a convertible bond earlier this year. Today's investment will be granted [...]
Taylor Wimpey confident it can beat market uncertainty as low interest rates boost house buyers November 13, 2018 Housebuilder Taylor Wimpey today said it is on track to weather political uncertainty to deliver on guidance thanks to low interest rates and the government's Help to Buy scheme. Sales rates for the year to date were 0.81 per outlet per week in the second half of 2018, unchanged from last year, though cancellation rates were up [...]
Foxtons closes six London branches as challenging market flattens revenue growth November 13, 2018 Estate agent Foxtons has today confirmed the closure of six London stores, amid a downturn in sales that has led to a "challenging" market. The closures came as part of a cost-cutting drive at the firm to meet market conditions. Branches in Beckenham, Enfield, Loughton, Ruislip and Barnes, as well as its flagship Park Lane office, have [...]
Interiors: We look how you can decorate your way towards getting a more restful night in bed November 12, 2018 Sleep science tells us that rest is the third pillar of health, along with nutrition and exercise. So, as the nights draw in, it’s time to create your ultimate sleep sanctuary. In Scandinavia, where they like to live cosy, sleep tech is mainstream. UnikBed (unikbed.co.uk) is from Finland (find them on the Holloway Road), and [...]
Don’t like new build homes in glass towers? We round up the best conversion homes in characterful period buildings November 12, 2018 You want to buy a new house, but you don’t want to live in a soulless shell. There’s good news: the historic conversion market is continuing to boom, with London’s ancient buildings being scaffolded as we speak. Hampstead Manor, at the heart of which is white-stucco mansion Kidderpore Hall, is one such development. It’s being [...]
Opinion: How can technology make moving house easier? We count the ways November 12, 2018 Moving home is considered to be one of the most stressful life experiences and as a result people rarely bother. The average person only moves once every 17.8 years according to the latest English Housing Survey. But does it need to be this way? Over the next decade, technology will transform the way we buy, [...]