UK house prices go in reverse as market enters ‘new normal’ December 15, 2021 House prices have entered a ‘new normal’ after dropping 1.1 per cent between the end of the stamp duty holiday in September and October of this year. However, prices are 10.2 per cent higher year on year, marking the third month where annual growth has hit double figures. Year-over-year growth dropped from 12.3 per cent [...]
Firms could be forced to get rid of staff without clarity on further financial support December 14, 2021 Retailers and hospitality bosses have reiterated calls for fresh financial support measures as trade is hit by Omicron restrictions ahead of Christmas. Businesses said consumer confidence has been hit by the latest headlines, with shops reporting reduced footfall and pubs seeing cancellations of bookings. Londoners are bunkering down in a bid to ensure they can [...]
Derwent London to buy the Moorfields Eye Hospital December 14, 2021 Derwent London has been selected as the preferred bidder to buy the freehold of the Moorfields Eye Hospital. The Moorfields Eye Hospital NHS Foundation Trust and UCL selected the property investment firm for the acquisition of the freehold of City Road Island and 11-43 Bath Street. Derwent will purchase 2.5 acres and 400,000 sq ft, [...]
Devolved nations add to mounting calls for fresh business support from Westminster amid Omicron surge December 14, 2021 Scotland’s first minister has added to calls mounting on Westminster for a fresh tranche of financial support for businesses. Nicola Sturgeon said a lack of new support from the UK government meant “there is no money to compensate” businesses in the wake of further Covid restrictions. This was “not acceptable,” Sturgeon said, echoing calls from [...]
Food and farming bosses warn businesses ‘still in meltdown’ amid labour crunch December 14, 2021 Chaos in the supply chain must be resolved to ensure food security in the UK, industry bodies have warned. The farming and producing sectors have been battered in recent months by labour shortages, including abattoir workers and HGV drivers. The industry has also struggled with inflation pushing up costs of energy, feed and fertiliser. The [...]
Labour shortages trigger ‘below expectations’ Black Friday for lifestyle retailer Joules December 14, 2021 Labour shortages led to a Black Friday performance below expectations, according to lifestyle group Joules. Global supply chain challenges led to “some higher costs and stock delays,” while labour shortages in a third-party operated distribution centre caused “extended” delivery times. “These factors were particularly acute in November, including the Black Friday period, which alongside weaker [...]
Ocado anticipates ‘best-ever Christmas’ as it eyes new Zoom site openings December 14, 2021 Ocado has forecast its “best-ever Christmas ahead” and said it anticipated mid-teens sales growth for 2022. In a trading update for the 13 weeks to 28 November, the grocer said there was “strong momentum in under-lying demand”. It posted retail revenue of £547.8m for the quarter. This was compared to £570.1m in the same period [...]
Bill’s closes 14 restaurants after pandemic pressure December 13, 2021 Restaurant chain Bill’s has shut 14 loss-making venues in its financial year after the pandemic hammered sales. In accounts filed to Companies House, the firm stated it made a £62m turnover for the 53 weeks to 3 January 2021. This was down on the £127m for the 52 weeks to 29 December 2019. The restaurant [...]
London’s shopping destinations seeing ‘first sign’ of hit from plan B measures December 13, 2021 Retail destinations have started to see the impact of the government’s latest Covid messaging, after a drop in central London footfall last week. Footfall fell three per cent in central London shopping destinations and 5.3 per cent in the capital’s office hubs last week. Last week, the Prime Minister outlined fresh measures to tackle the [...]
JD Wetherspoon boss: Country headed for ‘lockdown by stealth’ with Omicron measures December 13, 2021 JD Wetherspoon chairman Tim Martin has said the country seems to be heading towards a “lockdown by stealth” and warned of a potential hit to profits. The pub company warned its first half results may be impacted by an uncertain market, with consumers put off from pub trips after headlines about the Omicron Covid variants [...]
