Grosvenor Group warns of lower returns and revenue profit in coming years April 19, 2016 Grosvenor, the privately-owned international property group which has existed since 1677, has cautioned of lower returns and revenue profit over the next few years after posting a 22 per cent fall in annual pre-tax profits to £527m. Revenue profit, the difference between revenue incomes and revenue expenses, climbed to £83.3m last year, from £80.1m in 2014, excluding the impact of property revaluation. Total [...]
EU referendum: Companies hunting for new London offices shrug off Brexit fears April 19, 2016 Companies were still on the hunt for new offices in London in the first quarter of the year, despite fears that economic jitters and the prospect of a Brexit could stifle demand. More than 3.1m square feet of space was snapped up, with Thomson Reuters' deal to decamp all of its staff to new 315,400 sq ft Canary Wharf headquarters lifting overall take-up [...]
Take a look inside five of London’s £35m homes April 19, 2016 We all know there are people who are are happy to fork out vast sums of money to snap up tiny parts of London. Which is why we hear stories of a shack in Peckham selling for £1m, or a garage in Chelsea being snapped up for £360,000. But some – London's highest net-worth individuals – are prepared to stump up [...]
McCarthy & Stone share price rises after retirement home builder reports 33 per cent revenue growth April 19, 2016 McCarthy & Stone's share price was up this morning after the retirement home builder reported 33 per cent revenue growth. The figures In the six months to 29 February, McCarthy & Stone reported revenue of £250.2m, up from £188.5m in the same period last year. Its underlying pre-tax profit was £39.1m, up 23 per cent from [...]
This analyst insists falling house prices at London luxury housebuilding hotspot Nine Elms are nothing to worry about April 19, 2016 Berkeley Group is one of the UK's largest and most dependable housebuilders – and its founder, City A.M. personality of the year award winner Tony Pidgley, achieved near-mythical status after he famously (and correctly) called the top of the market during the downturn. But there's one problem: the company's shares have fallen almost 20 per cent this year, after some expressed [...]
These features will help increase your house price April 19, 2016 To be fair, these days being able to afford any square footage at all is a bonus – but if you're looking for a house at the moment and want to know what will boost your house price, look no further. Online estate agent Emoov has investigated the factors that add most value to homes, [...]
Zoopla buys Property Software Holdings for £75m April 19, 2016 Online property portal Zoopla is to buy Property Software Holdings – a B2B service provider used in more than 8,000 estate agency branches in the UK – for £75m. The deal, under which Property Software Group (PSG) will join the likes of uSwitch and PrimeLocation, gives Zoopla access to a number of systems used by the property [...]
Housing association L&Q to build 200 homes after buying £150m Wandsworth Town site April 18, 2016 The housing association London & Quadrant (L&Q) has announced plans to build a further 200 homes in south London after buying a £150m development site near Wandsworth Town Centre. L&Q, which is currently in merger talks with two other associations to create the country's fourth biggest housebuilder, said it has purchased Garratt Place near Earlsfield station from Wandsworth Council and South Thames College. [...]
Spotify backer Accel moves headquarters in West End to The Crown Estate’s One New Burlington Place April 18, 2016 East London may have stolen the tech spotlight in recent years as new and more established names flocked to get a foothold in Tech City, however, the West End has proved it is still getting its fair share of deals. The Crown Estate has today announced that fintech venture capital firm Accel will move its European headquarters to one [...]
Data from 1975 suggests how this year’s EU referendum might affect house prices in the next two months April 18, 2016 Here's an interesting point of comparison between this European referendum and the last one: house prices. Yep: according to new research, house prices will be 1,751 per cent higher during this referendum than they were during the second quarter of 1975, when Prime Minister Harold Wilson called a vote on EU membership. In the capital, that [...]