EU referendum: Countrywide has issued a warning over “political and economic uncertainty” caused by Brexit April 26, 2016 Countrywide has warned that the housing market will slow this quarter, in the wake of "political and economic uncertainty" ahead of the country going to polls to vote on the EU referendum. The firm, which this morning revealed a surge in activity during the first three months of the year ahead of the government's stamp duty [...]
Henley Camland strikes major deal with Land Securities for part of the Ebbsfleet Eastern Quarry garden city April 26, 2016 Private equity firm Henley has bought a major component of the Ebbsfleet scheme, one of the UK's largest residential schemes, from Land Securities. Fresh from selling more than 500 plots to Taylor Wimpey yesterday, Land Securities has today revealed another deal, selling two "village" sites at the Eastern Quarry, which have capacity for around 4,700 homes, [...]
No tears for Boohoo as profits and revenues soar April 26, 2016 Boohoo has reported a surge in profits and revenues for the full year as the fashion etailer woos even more customers worldwide. But clearly investors were hoping for more – Boohoo's share price fell 3.7 per cent on the open. The figures Revenues were up 40 per cent in the year to 29 February, climbing to [...]
London housing crisis: Before you dismiss it, consider these six points that put the Greenbelt controversy into context April 26, 2016 Without a doubt, the UK housing crisis is most acute in the capital. Not a day goes by without a story on prices, the need for housing, or how to/ where to/ why to build more homes in London. Most recently, an old, controversial topic was re-introduced – building homes on the Greenbelt. The context for this debate is [...]
BHS administration “more significant than Woolworth’s” as cost to taxpayer stacks up April 26, 2016 The collapse of BHS could be "more significant than Woolworths" – and the business is unlikely to survive in any meaningful form, experts have told City A.M. Parent company Retail Acquisitions called in administrators Duff & Phelps yesterday afternoon, a year after buying the debt-laden business from Sir Philip Green for £1. Managing directors Phil [...]
Now BHS is in administration, the bidders are circling – but wouldn’t it be wiser to let it die with dignity? April 26, 2016 After the sale of BHS by Sir Philip Green to the previously unheard-of Retail Acquisitions last year, it was only a matter of time before we reached this point. Bought for £1 because of the heavy debt and pensions liabilities, too much work was needed for the 88-year-old retailer to find its footing again. Even [...]
BHS administration: Who has blood on their hands as yet another retailer falls into administration? April 25, 2016 The loss of a UK retailing stalwart from our high streets is always a sad affair. There is, of course, a sense of nostalgia as old photos of where we once shopped appear. And the human tragedy of those losing their livelihoods – in the case of BHS that’s 10,000 current employees, and thousands more [...]
BHS is in administration: Here’s what analysts say was to blame (and what the future holds) April 25, 2016 BHS is in administration having notched up £1.3bn in debt, it has been confirmed this afternoon. Duff & Phelps has been appointed to handle the iconic retailer's administration, with managing directors Phil Duffy and Benjamin Wiles sounding confident about finding a new buyer. City A.M. understands more than 30 enquiries have already been made, and now [...]
Estate agent wars: Why OnTheMarket is here to stay, even after the CMA warning April 25, 2016 You may have read last week about the open letter from the Competition and Markets Authority (CMA) to estate agents to remind them about their obligations under competition law when choosing online property portals to advertise their properties. The CMA has been very clear in cautioning agents to act independently and not to collude. At OnTheMarket.com, we welcome [...]
London house prices: Galliard is about to launch homes just for first-time buyers – and expects queues and “rapid sales” April 25, 2016 We all know how tough it is for first-time buyers to get a foot on the ladder, with recent estimates suggesting Londoners would need a six-figure salary to buy a home by 2020. So perhaps Galliard Homes is right to predict "queues and rapid sales" for its latest scheme The Landmark, which is being touted [...]
