Intu becomes top FTSE 100 riser despite profit drop February 23, 2017 Intu properties was the top FTSE riser this morning, despite the group's profit falling by more than 60 per cent. The figures Intu's profit fell by 67 per cent for the year to the end of December 2016 due to falling capital values on its properties. However, net rental income was up, rising 4.4 per cent from [...]
Airbnb isn’t only revolutionising the holiday market; it’s also changing the way offices are designed February 23, 2017 When Airbnb sent round a survey to its employees in Paris asking what they’d like in their new office, the request was for a petanque field. For the uninitiated, petanque is a form of boules played with a wooden ball. “We were like, ‘weeeelllll, that may not happen, it could be a little dirty and [...]
Mortgage lenders have just had their best January since 2008 February 23, 2017 Mortgage lending hit £18.9bn in January, new figures have shown – two per cent up on the same month last year, and the best January since 2008. The Council of Mortgage Lenders (CML) said the figure was down six per cent on December's £20bn – but added that the number of first-time buyers had continued [...]
Spiking business rates will lead to an East London tech exodus February 23, 2017 Much has been written about the upcoming business rates revaluation and the significant additional burden that this will place on businesses, large and small. Comparatively little, however, has been said about the impact that this in turn will have on our town centres and business districts. Ultimately, business rates are a property tax rather than [...]
Purplebricks reveals share placing to raise up to £50m to build on US plans February 22, 2017 Purplebricks Group this evening revealed it would be issuing a new slew of shares in a bid to raise up to £50m to support its dreams of expanding across the Atlantic. The placing shares have been priced at 220p, which represents a 0.6 per cent discount on Tuesday's closing price. The online estate agent, which [...]
Globalworth buys mammoth Renault site in deal worth €42.5m February 22, 2017 An Aim-quoted real estate firm is set to be the new landlord of one of carmaker Renault's largest distribution centres. Globalworth Real Estate Investments has agreed to pay €42.5m (£35.7m) for a Romanian warehouse that Renault currently leases to subsidiary Dacia. Read more: French is the sexiest accent in the world, according to Renault The site covers approximately 68,000 square [...]
This London developer has slashed its land value by 20 per cent February 22, 2017 London developer Capital & Counties Properties (Capco) has cut the value of its Earl's Court development by 20 per cent. In its results for the year, the company said the value of its Earl's Court site had fallen from £1.4bn to £1.1bn. However, analysts were expecting it to be worse. JP Morgan has predicted a 30 [...]
This one graph explains the horrors of London house prices – and why London renters are trapped February 22, 2017 If thinking about the London housing market is likely to give you a brain haemorrhage, do not read this. New figures from the Office for National Statistics (ONS) show just how ridiculous house price rises have been in the capital over the last six years, and why London renters are also being screwed. Read more: [...]
London home buyers down three per cent in fourth quarter of 2016, CML says February 22, 2017 The number of home buyers in London dropped to a four-year low last year, according to new data from the Council of Mortgage Lenders (CML). Home buyers in London borrowed £24.5bn for house purchase, down 0.4 per cent on 2015, and took out 75,800 loans, down seven per cent compared to the year before. The CML [...]
Barratt hikes dividend as profits edge higher February 22, 2017 It's been a decent six months for housebuilder Barratt, which today announced it was hiking its divi after profits edged up in the final half of last year – despite a fall in revenues. The figures Although revenues fell 3.2 per cent to £1.82bn in the six months to the end of December, pre-tax profits rose 8.8 per cent to £321m, partly thanks to [...]