Foxtons sales suffer in London property market downturn July 26, 2019 Sales at estate agents Foxtons suffered in the first half of the year due to a downturn in the London property market. The figures Group revenue declined by 3.5 per cent to £51.1m and losses deepened from £2.5m in the first half of 2018 to £3.2m this year. Revenue in Foxton’s letting business was flat [...]
Revenue falls at Foxtons as tough London housing market takes toll May 20, 2019 Estate agents Foxtons said revenue fell in the first quarter which it blamed on challenging conditions in the London property market. Foxtons, which has its annual meeting today, said sales volumes continued to be at record lows and Brexit uncertainty is impacting on consumer confidence. The company also said chief financial officer Mark Berry is [...]
Foxtons swings to a loss in weak London property market February 28, 2019 Foxtons swung to a loss last year as the estate agent struggled with a weakened London property market, the company announced this morning. The figures The estate agent reported a £17.2m loss in its 2018 full-year results this morning, down from £6.5m profit the previous year, in part due to a non-recurring charge of £15.7m [...]
Foxtons closes six London branches as challenging market flattens revenue growth November 13, 2018 Estate agent Foxtons has today confirmed the closure of six London stores, amid a downturn in sales that has led to a "challenging" market. The closures came as part of a cost-cutting drive at the firm to meet market conditions. Branches in Beckenham, Enfield, Loughton, Ruislip and Barnes, as well as its flagship Park Lane office, have [...]
Online estate agent Emoov on the hunt for big ticket buyers October 31, 2018 Despite only completing a merger process in May, online estate agent Emoov has put itself up for sale amid signs of a squeeze on its pursestrings. Emoov merged with fellow online agencies Tepilo and Urban earlier this year, which resulted in former Daily Express owner Richard Desmond taking a significant minority stake in the new [...]
Green light given to £230m Docklands tower October 16, 2018 Plans to build a £230m apartment block on the Isle of Dogs were given the green light today, joining a growing list of residential towers set for development in London’s Docklands. Central London developer LBS Properties is set to start construction on the 48-storey scheme for 332 flats near Canary Wharf after being given planning permission [...]
Nine Elms project One Embassy Gardens put on the market for £160m October 11, 2018 One Embassy Gardens, a flagship Nine Elms office block located next to the new US embassy, is being put up on the market for £160m today, as developers hope to lure in buyers for one of Europe’s largest regeneration zones. Ballymore's planned sale comes 10 months after the developer secured the tenancy of Penguin Random House, with [...]
Telford Homes boss: Negative Brexit commentary will push down house prices October 10, 2018 Shares in Telford Homes plunged more than 13 per cent in early morning trading today as it warned of falling house prices and flat activity in London’s property market over the next 12 months, with Brexit uncertainty weighing on buyer confidence in the capital. The London-based housebuilder said that recent “negative” Brexit commentary and talk of [...]
Foxtons closes flagship Park Lane office amid property market slump October 9, 2018 Estate agent Foxtons is closing its Park Lane flagship office amid a London property market slump. Staff will be moved to the Marylebone office where they will continue to cover Mayfair and Central London. Read more: Property bosses cull delivery vans in bid to protect London business The estate agent, which has 65 branches in [...]
Focus On St John’s Wood: Why the genteel life on offer in this north west London village has endured for over a hundred years October 5, 2018 The rapid gentrification of the grottier parts of London has dominated the capital’s housing chat over the last few years. Everyone loves a rags to riches story, but as boring as it sounds, there are some parts of London that have always been, well, lovely. St John’s Wood is one of those places, a north [...]