Law firms drive demand for London’s ‘super-prime’ office space March 29, 2022 Law firms are driving demand for “super-prime” office space in Central London, amid fierce competition to recruit and retain legal talent. Law firms took up more than a quarter (27 per cent) of all office space in the City of London last year, according to figures from Knight Frank. Intense competition between law firms to [...]
Young, female, living in London: Who are the millions of people in the capital struggling to make ends meet? March 29, 2022 Five million working people now face the prospect of being unable to meet their financial commitments, according to new research shared with City A.M. this morning. from Baringa, the business consultancy. In the wake of the pandemic and with inflation at a 30 year high, specific groups of workers, such as women and young people, [...]
‘What th f*** bro’: Watch as reckless driver in East London live streams himself as he crashes in Newham March 28, 2022 A live stream on TikTok is going viral across London this morning, showing a street racer crash his car on the A13 in East London. Streaming himself like on the popular Chinese social media platform, the driver was seen racing at high speed through the east side of the capital late on Saturday night. While [...]
Sunday Spotlight: Less than 0.0007 per cent of all UK companies grew revenue at 20 per cent or more since 2017 March 27, 2022 Just 175, or approximately 0.0007 per cent of all UK companies have managed to grow their revenue by 20 per cent or more in each of the last five years, according to new research shared with City A.M. today. The findings show the difficulties in producing fast-growing companies that can maintain significant growth rates over [...]
Renters hunt for pet friendly landlords as millions of Brits took a dog during lockdown March 26, 2022 London renters are increasingly eager to find pet friendly landlords, after millions of Brits bought animals during lockdowns. Estate agency Chestertons said some 25-35 per cent of renters hunting for properties in the capital at the moment are pet owners. Demand for London rental homes is increasingly high as office workers look to return to [...]
Bermondsey Reach: Wittington Investments to snap up Southwark development with 300 flats March 25, 2022 Some 300 apartments are being planned for a site in Southwark that reportedly has a £135m development value. The 1.3 acre site has received planning consent for 312 residential flats and more than 20,000 sq ft of retail and commercial floorspace. Centerbridge and Argon Capital have appointed advisors from CBRE and KALMARS on the sale [...]
Row erupts as new London arena dubbed ‘enormous glowing blight’ gets planning approval March 23, 2022 A row has erupted over a new music venue branded an “enormous glowing blight” which has now been granted planning permission. The MSG Sphere in Stratford at the site of the 2012 Olympics got approval from the London Legacy Development Corporation (LLDC) today, despite more than a thousand complaints from residents about the 21,000-seater arena. [...]
Mayor of London Sadiq Khan issues high air pollution alert for today and tomorrow March 23, 2022 The Mayor of London has triggered a ‘high’ air pollution alert for today and tomorrow as London experiences imported pollution from the continent alongside a build-up of local emissions, Sadiq Khan’s office said in a statement. This is the first ‘high’ pollution alert that the Mayor has issued since August 2020. ”Toxic air is extremely dangerous [...]
Hong Kong developer swoops in with £96m steal for Vauxhall Square site March 16, 2022 Vauxhall Square in London has been sold by a Chinese developer for £96m, which is a reported discounted price of 42 per cent. A subsidiary of Hong Kong-based company the Far East Consortium International (FEC) swooped in for the 14m square-foot site, buying it off rival firm, Guangzhou-based R&F Properties, on the cheap. It was [...]
Centaur media’s earnings spike by 68 per cent in pandemic bounce back March 16, 2022 Marketing firm Centaur bounced back from pandemic difficulties with a 68 per cent spike in earnings. The London-based company increased its revenue from £32.4m in 2020 to £39.1m in the last 12 months, representing a more than 20 per cent increase. Its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) spiked to nearly £6.5m, [...]