UK house prices: Service charges for new-build properties are double those of older homes March 10, 2016 Service charges on new-build properties have been dubbed a "hidden cost" that have reached an average of £2,777, according to a new survey by the insurer Direct Line for Business. This cost is 96 per cent higher on new-build properties than the average annual property service charge in Britain, which is £1,863. The survey also shows some 33 [...]
Former FA and Manchester City chairman David Bernstein joins advisory board at property investment firm Cogress March 10, 2016 An investment platform that allows consumers to invest in high-end developments has bolstered its advisory board after hiring former Manchester City chairman and retail veteran David Bernstein. Cogress, an open equity platform, was founded by Israeli entrepreneur Tal Orly in 2014 with the aim of making prime London residential and commercial developments accessible to private investors. Since its launch it has [...]
Trunki-maker Magmatic loses intellectual property appeal case against PMS International and its Kiddee Case in the Supreme Court March 9, 2016 The Supreme Court has today dismissed an appeal by Trunki manufacturer Magmatic, which contended that a competitor product was breaching its intellectual property rights. Magmatic had previously registered a Community-registered design for its Trunki suitcases which covers various colours but not surface decoration. Magmatic argued in front of the Supreme Court in November that PMS International’s Kiddee Cases, [...]
Business rates set to reach their highest level since introduced in 1990, costing firms an extra £400m March 9, 2016 Retailers and other businesses are bracing themselves for another rates squeeze next month, when the levy will rise again to reach its highest level since it was introduced in 1990. From 1 April, the uniform business rate will hit a landmark 49.7 pence in the pound, which will cost businesses an extra £188m in rates in [...]
City of London poised to step in over 22 Bishopsgate skyscraper “rights to light” battle March 9, 2016 The developers behind City skyscraper 22 Bishopsgate have called on the City of London for help fighting a fierce "rights to light" battle with neighbouring landlords that threatens to derail the scheme. AXA Investment Managers – Real Assets and Lipton Rogers have been locked in a row with its neighbours and campaign groups, who argue that the 62-storey tower overshadows their [...]
Global house prices accelerate in 2015 as low interest rates help buyers shrug off economic concerns March 9, 2016 Concerns over the global economy has failed to dent buyer confidence as house price growth accelerated last year, new research shows. Knight Frank's global house price index increased by three per cent in 2015, up from 2.3 per cent the previous year, boosted by the low interest rate environment. “Forty-three of the 55 housing markets tracked in our global [...]
UK house prices: MPs show cross-party support for emerging build to rent sector March 9, 2016 Cross-party MPs have thrown their weight behind build to rent, with a survey released today showing that more than four in five support the sector as a means of tackling Britain's housing crisis. A new poll of 150 MPs, commissioned from ComRes by the British Property Federation (BPF), found that 91 per cent Conservative MPs and 71 per [...]
London Cocktail Club launches £750,000 crowdfunding campaign to open more bars March 8, 2016 London Cocktail Club is tapping margarita lovers and party-goers for £750,000 after launching a crowdfunding campaign to help fund more bar openings across the capital. The company, which counts restaurateur Raymond Blanc and Dragons Den judge Sarah Willingham among its backers, has turned to Crowdcube to raise new equity, with £135,000 raised so far. It currently has five basement [...]
Supermarkets abandon more schemes as pressure mounts on Sainsbury’s, Morrisons, Asda and Tesco March 8, 2016 The number of developments ditched by Britain's supermarket titans has jumped since the first half of the year, with construction and planning applications also in decline, new research shows. Property advisory firm CBRE's latest analysis of the grocery property market shows that the number of abandoned schemes rose by 13.3 per cent in the second half of 2015. Proposed projects [...]
UK house prices: You can actually buy a flat in Preston for the price of a Ford Fiesta – or a property in Greater London for an Aston Martin March 8, 2016 It might be hard to believe, but you could buy a property in (Greater) London for the price of a (very expensive) car. Of course, it might be quite a toss-up: your £100,000 can get you either a one bed flat in Tilbury, near Romford – the cheapest property available in what estate agents call London (even [...]