Property transactions were resilient throughout 2016 January 24, 2017 The number of property transactions fell 8.5 per cent year-on-year in December 2016 – but over the year as a whole, the market was resilient. Data from HM Revenue and Customs shows that there were 1,231,120 residential transactions last year, ahead of the number of transactions in both 2014 (1,225,120) and 2015 (1,225,970). However, the [...]
Crest Nicholson’s profit soars – but it warns about cost pressures and falling house prices in central London January 24, 2017 Crest Nicholson's share price remained largely flat as the company reported a 27 per cent jump in profit. The builder said it was selling more homes at higher prices – but warned of pricing pressures in central London and cost inflation due to the Brexit vote. The figures The housebuilder's profit jumped 27 per cent in [...]
Why I renovated a Victorian castle for my staff January 24, 2017 Star Wars cinema, tick. Gym, tick. Ice cave, tick. Library with secret door, tick. OK, they may not be essentials for an office space but when your office is a castle, why on earth not? For a company based outside of London, attracting and maintaining the best talent is paramount to our success, so I re-invested [...]
Property legal Q&A: What legal issues should I consider before I let a leasehold flat in a mansion block? January 23, 2017 Question: I own a leasehold flat in a mansion block and am considering letting it on a daily/weekly basis. What legal issues should I consider before doing so? Answer: The success of Airbnb and similar providers of short room/property rentals has increased significantly over the past few years, but there are several factors to consider [...]
Commercial rental growth on the UK’s most exclusive shopping streets has fallen January 23, 2017 Commercial rents in London's most exclusive areas slowed to its lowest in 2016 in the final quarter of the year, new figures have shown. Rental values on so-called prime commercial property fell to 0.4 per cent between October and December, the lowest quarterly growth in a year. During the full year rents increased 3.7 per cent. [...]
Bovis shares have risen on hopes Berkeley will buy it January 23, 2017 Shares in housebuilder Bovis rose in morning trading after its biggest shareholders suggested a takeover by a rival. Shares were up 3.6 per cent at 826p in mid-morning trading after it emerged this weekend that Schroders had written to rival Berkeley Group to propose an all-share merger. The suggestion follows a shaky patch for Bovis, which [...]
Interiors: Get home gym inspiration from these funky designer health clubs in London January 21, 2017 Gym brands are spending millions on interior design, facilities, music and mood to impress us and keep us coming back. These days it’s all about creating a club atmosphere, making you look and feel fantastic. Where you train is a lifestyle choice. In and around the City, you have your pick of the bunch, from [...]
Five things you should know before you buy a leasehold property January 21, 2017 In its effort to turn Generation Rent into Generation Buy, the Government has announced a £1.4bn fund to build 40,000 new ‘affordable homes’. Typically, these tend to be leasehold flats, especially for first-time buyers wanting to live in city centres. But how many buyers taking their first step on to the property ladder understand fully [...]
New Builds: New homes on the market this weekend in London from Help to Buy in Chiswick to luxury flats in Holborn January 20, 2017 500 Chiswick High Road, Chiswick From £420,000 Twenty-five apartments are going on sale tomorrow as part of the Government’s Help to Buy equity loan scheme for first time buyers. With private outdoor space, a concierge and underground parking, it’s a relatively affordable opportunity to buy into Chiswick, a smart west riverside area that’s popular with [...]
British Land’s share price falls as occupancy rates dip January 19, 2017 British Land's share price fell today after it said that its occupancy rates have fallen, with tenants signing up for shorter leases. In its third quarter trading update, the commercial property giant reported a 97 per cent occupancy rate, with an average lease length of eight years. However, this compared to an occupancy rate of 98 [...]