Budget 2016: Commercial stamp duty cut for small firms while large-scale buyers get hit March 16, 2016 Commercial stamp duty has been cut by the chancellor George Osborne in the 2016 Budget, while the government is set to go ahead with plans to increase a duty on buy to let properties and second homes. The stamp duty on commercial property will have a zero rate band on purchases up to £150,000; a two per cent rate on [...]
London house prices: Boris Johnson unveils plans to create 24,000 homes and 60,000 jobs in Royal Docks, East London March 16, 2016 Move over Canary Wharf, there's a new East London business hub coming to town (maybe). Boris Johnson has revealed plans to create 24,000 new homes and 60,000 jobs in East London today, as he heads to City Hall for his last ever Mayor's Question Time. The Royal Docks are already a hive of activity ahead of the [...]
John Lewis boss talks about “the Midlands Engine” and why Birmingham is the next major economic hub March 15, 2016 John Lewis boss Andy Street says Brum is booming, as he talks up the city in Cannes. Andy Street may be better known as managing director of one of the UK's biggest department stores John Lewis, but the Brummie born and bred was in Cannes donning a different cap today, promoting his home town as [...]
The LCCM, Amy Winehouse’s former music school, is moving to The Music Box on the Southwark – and you could too March 15, 2016 Hear the stars of tomorrow rehearsing in the comfort of your own home by investing in the latest cultural centre around the South Bank. The latest apartments have gone on sale at The Music Box, a new housing development that incorporates the London Centre for Contemporary Music (LCCM). The school, which counts Amy Winehouse among its alumni, [...]
Silvertown Partnership prepares shortlist for funding of Royal Docks £3.5bn scheme March 15, 2016 The developers behind the £3.5bn regeneration of Silvertown Quays in London’s Royal Docks are in talks with several investors about the next stage of funding as work on the first phase of the 62-acre scheme gets underway. The Silvertown Partnership, a consortium of developers made up of Chelsfield Properties, First Base and Macquarie Capital, are currently [...]
London Mayor and Berkeley Homes to build 3,500 homes on Newham Parcelforce depot site March 15, 2016 Berkeley Homes is pushing ahead with a scheme to turn a disused Parcelforce depot in east London into 3,500 homes – including one of London’s largest private rental schemes – after agreeing the terms of the deal with London mayor Boris Johnson. Speaking at the annual MIPIM property conference in Cannes this afternoon, Berkeley Group chairman [...]
London house prices: Iranian billionaire investors poised to splurge £6bn on properties around the world – and London is one of the top destinations March 15, 2016 Ultra high-net-worth investors from Iran are poised to go on a buying spree of properties around the world – and London is likely to be the top location. Research by high end estate agent Rokstone claims that millionaires and businesses will spend £6bn over the next five-to-10 years on property outside Iran, following the lifting of sanctions. [...]
UK house prices: Stamp duty – unless we’re still at war with France, it should go March 14, 2016 Stamp duty was originally introduced as a temporary tax in 1694 by a weird coalition of Dutch and British Monarchs, to maintain the war against their French foes. The duty then lay in the background until 1997, when Gordon Brown‘s first act as chancellor was to resurrect it. Brown’s master plan was to impose a [...]
London house prices: The average renter in the capital is now paying more than asking price for their home March 14, 2016 Renters in the capital are now paying above the original asking price of their homes, new research has found – with the average tenant paying 100.9 per cent of what was originally asked. Countryside's monthly lettings index found Londoners were paying an average of £1,309 a month in the year to February, up from £1,295 the month [...]
The rate of high street shop closures at five-year low as coffee shops and takeaway food outlets take their place March 14, 2016 British high streets lost 14 stores a day in 2015, though the rate of closure has slowed to its lowest level in five years, research out today shows. Around 5,138 shops closed down in town centres in 2015 compared with 5,839 in the previous year, according to data from PwC and the Local Data Company (LDC). [...]