London sushi chain Itsu drives sales up with growing customer numbers October 6, 2015 Food conscious Britons seeking out healthier lunch options helped to drive up sales at Itsu by more than a fifth last year. The sushi specialist, launched by Pret a Manger founder Julian Metcalfe, posted a 20.8 per cent rise in turnover to £67.9m in the year to January, with like-for-like sales up by 6.8 [...]
Tenants falling behind on rent at highest level for two years – Your Move and Reeds Rain October 6, 2015 The number of tenants seriously behind on their rent has risen to the highest level in two years, according to the latest Tenant Arrears Tracker by estate agents Your Move and Reeds Rains released today. There were 74,000 tenants owing more than two months’ rent at the end of the second quarter – up 7.2 [...]
Tougher stamp duty rules have hit prices for top country homes – Knight Frank October 6, 2015 Prices of top country homes have slowed over the third quarter of the year as tougher stamp duty rules hit demand for £1.5m plus properties, according to research out today. Knight Frank’s index of prime country property shows prices edged up by 0.7 per cent between July an September, compared with a 0.9 per [...]
City analyst slams Fnac’s bid for Darty and warns firm may have to sweeten deal October 6, 2015 A leading City analyst yesterday spoke out against Fnac’s bid for electronics rival Darty, saying the proposed offer significantly undervalued the company. The French electronics and music retailer made an offer of 101p per share for Darty on Wednesday, in a deal that would value its UK-listed rival at £533m. Fnac said its offer represented [...]
Sir Philip Green-backed flash sales website MySale buys three online retail firms in Australia October 6, 2015 Flash sales website MySale said yesterday it has bought three retail sites in Australia from Grays eCommerce group for AU$5.2m (£2.4m). The UK-listed company, which is backed by Sir Philip Green, said the deal was a great opportunity to grow its customer base in Australia, where MySale first launched in 2007. The three sites – [...]
Rental gap between financial and technology businesses is closing – Savills October 6, 2015 The gap in rents paid by financial firms and technology businesses worldwide is closing, according to a set of data out yesterday that shows a surge in office prices for the digital sector since the financial crisis. Research from estate agency Savills, which monitors rents across 12 major cities, found that overall rents for [...]
Battersea Power Station dismantling work to restart in coming weeks October 6, 2015 Work to dismantle the remaining three of Battersea Power Station’s iconic chimneys will kick off in the coming weeks after the first of the chimneys to be rebuilt successfully reached half of its full height. The huge concrete towers were badly damaged by the coal smoke they emitted during the building’s working life and [...]
Global property investment reaches post-financial crisis high – Cushman & Wakefield October 6, 2015 Global property investment has reached its highest level since 2008, new research shows, with New York and London holding on to the top spots as the world’s most sought after cities. According to Cushman & Wakefield (C&W), investment volumes rose by 16 per cent to $942.8bn (£621.4bn) in the year to June – just [...]
UK businesses are confident about the year ahead despite recent volatility – Alium October 6, 2015 Despite a rocky third quarter, which has been the worst for the financial markets since 2011, 91 per cent of UK businesses have confidence in the country’s economic performance over the coming year. Many FTSE companies said that growth, even more than the recurring skills-shortage, was a worry, but 51 per cent said they were [...]
Businesses in war of words over Britain’s potential EU exit October 6, 2015 Businesses did battle over Britain’s potential EU exit yesterday, with a war of words erupting about the repercussions of a Brexit or staying put. Gina Miller, founding partner of SCMDirect.com, kicked off the exchange by warning that the City faces “disaster” if the UK is forced to renegotiate. She said: “It will take years of negotiations, [...]
