Purplebricks boss: Rental market is ‘completely broken’ and is a ‘disaster for first-time buyers’ October 15, 2024 The rental market is "completely broken" and is a "disaster for first-time buyers", the boss of Purplebricks has said.
JLL cans dividend as profit slumps but predicts turnover boost October 7, 2024 Profit has been slashed at the UK arm of global real estate services giant JLL as “increased market uncertainty” hit its earnings. The London-headquartered division has reported a pre-tax profit of £21.9m for 2023, down from the £60.9m it achieved in 2022. Newly-filed accounts with Companies House also show that its turnover reduced from £460m [...]
Why West Ham co-owner David Sullivan is selling his London mansion for a loss October 4, 2024 David Sullivan, the co-owner and chairman of Premier League side West Ham United, is selling his London mansion for a loss after slashing the asking price by £10m. The businessman, who is the majority shareholder in the London Stadium club, is selling the Marylebone property through Knight Frank for £65m. The mansion includes 10 bedrooms [...]
London’s ‘Can of Ham’ tower is up for sale again but price slashed September 25, 2024 London’s ‘Can of Ham’ skyscraper has been put back on sale for a reduced price two years after the first attempt to sell the distinctive building. The property has hit the market with an asking price of £322m, having previously been valued at around £400m when it was last on sale in 2022. The new [...]
Zoopla: Property portal returns to the black after cutting almost 100 jobs September 20, 2024 Online property portal Zoopla returned to profit during its latest financial year as its sales passed the £90m mark. Newly-filed accounts with Companies House have revealed that the business swung to a pre-tax profit of £18.7m in 2023, having reported a pre-tax loss of £6.2m in the prior 12 months. The results also show that [...]
Indian clothing tycoon who supplies Uniqlo, Decathlon and H&M buys Notting Hill home for £21m September 13, 2024 The owner of India’s largest clothing exporter has paid £21m for a home in Notting Hill in one of the UK’s biggest residential property deals this year. Harish Ahuja, owner and managing director of Shahi Exports, purchased the eight-storey property, which is more than 20,000 sq ft in July, according to a UK filing first [...]
Howard de Walden: Loss more than doubles at London property empire September 11, 2024 The London property empire which includes Marylebone Village and Harley Street saw its pre-tax loss more than doubled during its latest financial year. Howard de Walden Estates Holdings, which also includes some of the capital’s prime shopping areas as well as hundreds of homes, has reported a pre-tax loss of £254.2m for the year to [...]
UK house prices: ‘Only the Autumn Budget could derail this train’ September 6, 2024 UK house prices grew at their fastest annual rate since November 2022, although analysts have already started to warn about the effects of a potentially bruising Autumn budget. Prices rose by 4.3 per cent year on year and 0.3 per cent month on month, taking the price of the average property in the UK to £292,505, [...]
Citypoint tower up for sale as owner seeks cut-price deal September 2, 2024 Canadian asset manager Brookfield has put Citypoint tower up for sale in what could be the biggest commercial office sale in the capital all year. Brookfield has reportedly started the sale in the hope of avoiding a default on a £460m loan secured on the building, according to the FT, which it previously extended in [...]
London gets even worse for first-time buyers as UK cities ranked September 2, 2024 London has become an even worse city for first-time buyers, according to new figures, but the situation has now stopped people flocking to the capital for the social and career opportunities. The capital has moved down one place to 44th out of 50 in the latest ranking from mortgage provider Aldermore. The study compared cities [...]