Shareholder anger forces Countrywide to abandon pay plan August 20, 2018 Countrywide has rowed back on plans for an executive pay proposal in the wake of a potential shareholder rebellion. The UK’s largest independent estate agency drew anger from investors last week over a new incentive scheme which would mean cash payouts of over £20m for the beleaguered firm’s top bosses, including a £6m windfall for [...]
Greater London property lull sinks lower as house prices per square metre fall for the first time in eight years August 18, 2018 Property growth per square metre has slowed down in Greater London, providing fresh evidence of a subdued housing market in the capital. Greater London property space suffered the lowest growth out of any region in the last 12 months, with house prices per square metre (psm) falling for the first time in eight years. House [...]
On the Beach posts sunny forecast amid luxury acquisition August 17, 2018 Online holiday retailer On the Beach has bought a luxury high street travel agents in a move into the offline market, as the firm announced yesterday that profits are in line with expectations. The £20m acquisition of Classic Collection came amid stable projections for the year ahead, with shares rising more than 15 per cent [...]
Countrywide of the mark as pay rebellion looms August 16, 2018 Beleaguered estate agent Countrywide could be the victim of its second shareholder rebellion in two months amid a bitter row over executive pay. Under-fire chairman Peter Long is facing the wrath of City institutions who are understood to be planning a revolt over a new incentive scheme, according to reports in Sky News. In a [...]
House prices in the capital sink to lowest level since financial crisis August 15, 2018 London house prices have fallen at their fastest annual rate since the financial crisis, dragging the UK property market down to its lowest levels of growth in five years. House prices in London tumbled 0.7 per cent in the year to June 2018, marking the sharpest decline in annual growth since a 3.2 per cent [...]
Investec fills entire City building in post-Brexit commitment August 13, 2018 Specialist banking giant Investec Asset Management has agreed to occupy the whole of 55 Gresham Street in a move that signals yet another firm commitment to the City of London post-Brexit. More than 121,000 square feet of offices spanning 11 floors will be let out in the grade A building located in the heart of [...]
Property withdrawals overtake sales for first time in two years August 12, 2018 More properties are being taken off the market than are being sold for the first time in two years, a new report has found. The findings show that in the second quarter of this year, 51 per cent of properties taken off the market were withdrawn from sale, compared with 49 of residences which were [...]
New Zealand bans foreign buyers in wake of house price bubble August 12, 2018 Famed for its pleasant green lands and quaint Hobbit villages, New Zealand might not often be the first place that is associated with a housing crisis. But in the latest sign that the country’s desperation to quell house prices have hit new depths, foreign buyers have now been banned from purchasing existing homes. Read more: [...]
City deals spurred by record year of South Korean investment August 12, 2018 South Korean investors have pumped record levels of cash into London’s commercial property market over the last six months in fresh evidence of burgeoning Asian demand for City buildings. Office investment into the UK from South Korea reached £1.1bn in the first half of 2018, doubling last year’s total level of £530m in the whole [...]
New Homes: What’s going on sale this week in London August 10, 2018 Landmark Pinnacle, Canary Wharf From £542,750 You’ll be breaking records by buying an apartment in this 75 storey skyscraper, which claims to be the tallest residential tower in London. It also has the highest residential gym, roof terrace and a landscaped garden square halfway up. These are the last homes to go on sale, [...]