Bovis share price surges as Redrow holds out hope for deal despite official takeover talks with Galliford Try March 13, 2017 Bovis Homes remains in talks with Galliford Try on a possible takeover after the FTSE 250 firm rejected a bid from rival housebuilder Redrow. The confirmed all-share merger with Galliford Try, also listed on the FTSE 250, would create a £2.5bn company. However, Redrow is clearly still holding out hope for a deal. In a [...]
Generator Hostels has been snapped up by Queensgate Investments for €450m March 13, 2017 Private equity real estate fund manager Queensgate Investments has agreed to buy chic hostel owner and operator Generator Hostels for €450m (£395m). The design-led hostel owner, which operates a total of 8,639 beds in London, Paris, Copenhagen and elsewhere, was owned by Patron Capital and co-investment partner Invesco Real Estate. Generator Hostels currently earns revenues of over €70m with 14 predominantly freehold assets, two [...]
UK house prices grew at their fastest pace for 12 months in February yet annual rate of growth fell March 13, 2017 House prices grew at their fastest pace for 12 months in February, with average prices increasing 0.6 per cent. The average UK house price hit £297,832 due to strong performance in the east of England, new peak prices in Merseyside and Birmingham, and a return of growth in high value London property, according to Your Moves’ latest [...]
HM Revenue & Customs (HMRC) wins tax tribunal disputing stamp duty land tax scheme used by housebuilder Crest Nicholson March 12, 2017 Crest Nicholson has been told to pay £1.3m it unsuccessfully tried to keep under a stamp duty land tax (SDLT) avoidance scheme after a tribunal found in the taxman's favour. The FTSE 250 housebuilder had used the scheme to avoid paying SDLT, by transferring assets between two sub-companies, on three purchases of land for development in Kent, which cost [...]
Bovis Homes confirms merger talks with Galliford Try after rejecting Redrow offer March 12, 2017 Bovis Homes is in £2.5bn merger talks with fellow housebuilder Galliford Try after rejecting a bid from Redrow. FTSE 250-listed Galliford Try said the tie-up would create “a new major housebuilder with national scale and geographic coverage through the combination of the sixth and eighth largest UK housebuilders by completions”. Bovis, which is also on [...]
Focus On Kensal Rise: This north west London town ticks all the boxes for a place that’s due a price rise March 10, 2017 How can you tell if a place is about to get seriously popular? Well, there are a few signs that you can look out for; plenty of Victorian architecture; well-to-do neighbours; improving schools; green space; and a sudden proliferation of independent shops and restaurants. Kensal Rise in north west London ticks all of these boxes [...]
“There’s a rat in the room”: Nick Candy claims he has been misportrayed in £132m High Court extortion trial March 10, 2017 Property tycoon Nick Candy told a High Court judge this morning that he has been “misportrayed” in the £132m extortion case against him and his brother Christian Candy. He made the complaint at the end of the fifth week of a trial that has scrutinised the business dealings of two men at the centre of London’s [...]
Property of the Week: 48 Sloane Square in Chelsea has been restored to its original Art Deco glory March 10, 2017 48 Sloane Square, Chelsea, £6.95m When property developer Aristo refurbished this second floor apartment overlooking Sloane Square, it pulled out a perfectly preserved newspaper from 11 August 1904, the year the building was built, from underneath the floorboards. This window into the art deco era inspired a theme for the entire project and Aristo set [...]
Organic, natural candles are the only way to go. Here are a few brands to get you started March 10, 2017 Flickering candlelight – there’s nothing like it to bring warmth, romance and life to a room. As we transition from cosy nights in to entertaining for spring outdoors, lighting candles lifts the spirits. They’re so hot right now, there’s even a new kind of consultant whose job it is to create signature scents for the [...]
New Homes: What’s on sale in London this weekend in Hackney, Southwark, Bermondsey, Mitcham and Clapham March 10, 2017 Kings Crescent, Hackney From £98,750 for a 25 per cent share First time buyers living or working in Hackney will be able to get a step on the ladder with Shared Ownership at Kings Crescent. Tomorrow will see 36 none to three bedroom apartments on sale, some refurbished some new, next to Clissold Park each [...]