K&K Property Holdings makes London debut with £130m Covent Garden deal December 18, 2019 Hong Kong’s K&K Property Holdings has made its first investment in the London market with the acquisition of an office block in Covent Garden for £130m. Tenants in the 90,916 sq ft tower include co-working firm The Office Group and Marathon Asset Management. Read more: Central London office take up surges as fintech sector grows [...]
Fintech boom sends central London office take-up soaring December 18, 2019 Central London office take-up surged last month, driven by growth in the capital’s fintech sector. Take-up increased 31 per cent to 900,000 sq ft between October and November, while the year on year jump was five per cent. Read more: The UK’s richest workers don’t live or work in London The banking and finance industry [...]
The UK’s richest workers don’t live or work in London December 18, 2019 Professionals living in London are the poorest workers in Britain as expensive basic living costs eat up a large chunk of their salaries, according to the latest research. Despite enjoying an average monthly salary of £2,348.49 Londoners were left with just £221.16 to spend after essential expenditures such as rent, travel and food are taken [...]
Bet365 boss Denise Coates pockets bumper payout as profit rises December 18, 2019 Bet365’s billionaire founder Denise Coates, the highest paid woman in Britain, paid herself more than £320m last year as the gambling giant increased its profits. Financial filings show that the company’s highest paid director earned £276.6m in the year ended 31 March, along with a half of a £92.5m dividend. Read more: Bet365 boss pockets massive [...]
UK house prices: Growth slows to seven-year low December 18, 2019 UK house price growth slumped to the lowest level in seven years in October driven by a 1.6 per cent price drop in London. UK house prices grew by 0.7 per cent in the year to October – compared to 1.3 per cent the previous month – the slowest rate since September 2012. Between September [...]
Staffline shares plunge as recruiter slashes profit forecasts December 18, 2019 Staffline has announced its finance chief has stepped down as the recruitment firm cut its profit forecasts following a dip in consumer demand. Shares in the company plunged 33 per cent this morning as it revealed that trading performance in the fourth quarter was below the board’s expectations following a slump in demand. Read more: [...]
Sotheby’s wine business toasts record-breaking year December 17, 2019 Sotheby’s Wine toasted sales of more than $100m (£75.9m) for the second consecutive year in 2019, following a string of record-breaking auctions, as wealthy investors seek alternative asset classes. The auctioneer reported total auction sales of $118m in 2019, an increase of 20 per cent, in a year that saw Sotheby’s in London record its [...]
Department store chain Beales hoists for sale sign December 17, 2019 Department store chain Beales has put itself up for sale in a bid to secure a sustainable future for the company in a challenging retail environment. The Bournemouth-based company has appointed KPMG to conduct a strategic review of the firm, including assessing a potential sale. Read more: Debenhams strengthens board as department store implements rescue [...]
Dame Vera Lynn wins trademark battle with gin brand December 17, 2019 Dame Vera Lynn has won a trademark battle over the use of her name by an artisanal gin brand. Halewood International applied to trade mark the Second World War singer’s name in June this year, but the 102-year-old entertainer opposed the attempt on the basis that it could appear that she was endorsing the product. [...]
Book closes on bargain retailer amid fierce competition December 17, 2019 The Book People, one of the UK’s largest booksellers, has been forced into administration in the run up to Christmas. PwC has been appointed to manage the insolvency process, Sky News reported. Read more: Amazon’s Deliveroo investment raises competition concerns, watchdog finds The accountancy firm was handling an auction for the bookseller, as its private [...]
