New homes: Properties going on sale this weekend in a regenerated part of Greenwich, in Hackney and in Croydon March 3, 2017 Kidbrooke Village, Blackheath From £450,000 Live at the centre of a new neighbourhood with one of these new apartments going on sale tomorrow. Birch House is in the Village Centre of Kidbrooke Village, a £1bn regeneration project by Berkeley Homes that will create 4,800 new homes and new parks across 136 acres south of the river. [...]
The real business rates scandal is that the government is abolishing accuracy March 3, 2017 How much income tax should you pay? The question is not about the tax rate but the accuracy of the amount. Should HMRC take from you a sum which, plus or minus a margin of error, reflects your earnings, investments and reliefs? Or should your contribution be an accurate assessment? Why settle for anything less [...]
General inflation is now outpacing rent rises March 3, 2017 Inflation is now outpacing rental price growth in the UK, and, in London, rents have barely changed over the last year. According to data from Homelet, UK rents grew on average by 0.8 per cent annually in February, and in London rents edged up by just 0.4 per cent. Overall inflation is now at 1.8 per [...]
Formula 1 plans to move to a new global HQ in St James’s Market March 2, 2017 Formula 1 is moving its global headquarters from Knightsbridge to a £400m development in the West End. The motorsports business will be taking up 21,000 square feet of space over two floors of a redevelopment by the Crown Estate and Oxford Properties called St James's Market. It is expected to make the move later this [...]
How to profit from the Chinese art market and bag some cutting edge paintings while you’re at it March 2, 2017 Which country has the world’s largest art market? Hint: if you’re thinking anything other than “China”, then you’re wrong. Art information website artprice.com estimates that in the first half of 2016, China accounted for 35.5 per cent of the $6.53bn global art sales. Someone out there is making a killing from the Chinese art market, [...]
Travis Perkins’ share price heads south as profits plunge March 2, 2017 Travis Perkins' share price has dropped by 8.5 per cent today after the builders' merchant's profit slumped and it fired a warning-shot about the UK economy. The figures In the year ending 31 December, Travis Perkins' profit before tax slumped 67 per cent, down from £224m to just £73m. Like-for-like revenues grew 2.7 per cent, up from £5.9bn to [...]
UK housebuilders’ shares rise as mortgage approvals hit highest level since February last year March 1, 2017 Housebuilders' share prices rose today after figures from the Bank of England showed that in January mortgage approvals hit the highest level since February 2016. The Bank reported a 2.4 per cent month-on-month rise in January, bringing the number of mortgages to 69,928. Read more: UK house prices rose by just £600 last month This [...]
UK government sets up first ever pavilion at Mipim to drum up business ahead of Brexit March 1, 2017 The UK government is setting up its first ever pavilion at property’s most important trade event to drum up international investment ahead of Brexit. At Mipim in Cannes thousands of investors, developers and property moguls will meet to do business – and socialise on multi-million pound yachts. Read more: Vincent Tchenguiz is getting a new superyacht – but [...]
British Land and Oxford Properties have sold the Cheesegrater for £1.15bn March 1, 2017 British Land and Oxford Properties have exchanged contracts for the sale of the Leadenhall Building to C C Land for £1.15bn. Shareholders of the Hong Kong-listed C C Land must now approve the sale before it can be completed. Tim Roberts, head of offices and residential, British Land, said: "British Land and Oxford Properties took [...]
The Chelsea house price plunge: here’s how low prices will go March 1, 2017 Stamp duty changes rocked the central London housing market last year as buyers became less keen to fork out thousands of pounds in transaction taxes for homes worth over £1m. Asking prices on high-end homes in London's most affluent boroughs were slashed – some by as much as 30 per cent – as home-movers sought [...]