By: Helen Cahill

I report on retail and property for City A.M. I have covered the investigation into BHS and London's housing crisis. You can email me on helen.cahill@cityam.com with tips or commentary.

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The man who bought BHS for £1 has been given a six-month driving ban for speeding

August 23, 2016

Dominic Chappell – the bankrupt who bought BHS for £1 – has been given a six-month driving ban for speeding. Former racing driver Chappell became involved with BHS because he would drive Paul Sutton – a convicted fraudster who also tried to buy the retailer – to meetings with Sir Philip Green. Read more: See inside the house Dominic Chappell [...]
Rents on high-end homes have gone down in the aftermath of the Brexit vote and the stamp duty tax hike

August 22, 2016

Lettings in the high-end of London's property market have been "subdued" in the second quarter of the year due to both a fall in demand and an increase in supply. JLL said "immaculate properties presented in first class condition" are not losing value, but on average rental values fell by 1.9 per cent during the second quarter. In the 12 months to [...]
Sadiq Khan returns the decision over AFC Wimbledon stadium on Plough Lane back to Merton council

August 22, 2016

London Mayor Sadiq Khan has reversed Boris Johnson's decision to call in the application to build a football stadium in Wimbledon. Under the plans, the former Wimbledon greyhound track would be taken down and replaced with a 20,000 seat stadium to be used by AFC Wimbledon. Galliard Homes, who submitted the planning application, would also [...]
House prices likely to be flat this year, but could fall by five per cent, according to UBS

August 22, 2016

House prices are expected to stay flat until the end of 2016, and in the worst case scenario could fall by five per cent, analysts have predicted. The forecast comes from UBS Wealth Management, who have re-set their expectations for house prices due to the EU referendum. Read more: House prices are being cut by nearly [...]
Prices on high-end central London properties are expected to fall by six per cent this year

August 22, 2016

The price of high-end homes in the centre of London is expected to fall by six per cent this year. According to estate agency Countrywide, prime central London property will be "the hardest hit" in the months after the EU referendum. In the market as a whole, house prices will fall by one per cent next [...]
First time buyers bounce back on to the property market as stamp duty changes take effect

August 22, 2016

First-time buyers have finally started taking a bigger slice of London’s most exclusive postcodes, as stamp duty changes scare off landlords. The proportion of prime London home purchases made by first-time buyers went from 22 per cent in the first quarter of the year, up to 34 per cent in the second, according to data from [...]
See inside the property Dominic Chappell paid for with a £1.5m loan from BHS

August 21, 2016

Dominic Chappell, the bankrupt who bought BHS for £1, used a loan from BHS to pay off a mortgage on his family's home. Chappell told the parliamentary committee investigating the collapse of BHS that a £1.5m loan had been paid out to Retail Acquisitions – the company majority-owned by Dominic Chappell that bought BHS. Documents [...]
Monsoon’s owner ditches dividend plans as stores close

August 21, 2016

Monsoon’s owner Peter Simon has said he won’t be taking out any more hefty dividends as the company shuts-up shops. Simon treated himself to a £26.9m dividend last year, but he won’t be repeating the payment as company closes 141 shops, according to the Sunday Telegraph. Monsoon and Accessorize are undergoing a restructuring over the next [...]
Britons abroad have had an expensive summer – here’s how much the nation overspent due to the Brexit vote

August 21, 2016

Britons on holiday abroad have overspent to the tune of roughly £500m this summer due to the fall in the value of sterling. Recent retail sales figures from the Office of National Statistics (ONS) showed Britons spent more than expected after the EU referendum – but retail strategist Richard Hyman said "when the suntan starts to fade, they will [...]
JD Sports plans takeover of rival retailer Go Outdoors as Sports Direct flounders

August 21, 2016

High street retailer JD Sports Fashion is exploring a takeover of Go Outdoors in a bid to expand its dominance in fitness clothing. According to Sky News, JD Sports is one of several bidders looking to make an offer for Go Outdoors, which is being sold in an auction run by KPMG. JD Sports – which [...]

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By: Helen Cahill

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