Franco Manca owner The Fulham Shore to open new sites in vote of confidence for London’s restaurant sector November 25, 2020 Franco Manca owner The Fulham Shore is opening new London restaurants in a vote of confidence in the capital’s hospitality sector despite the impact of the coronavirus pandemic. The company said today that it launched a Franco Manca restaurant in Waterloo in September that had traded well before the most recent lockdown, despite lower than [...]
Hoxton hotel chain Ennismore to merge with Ibis owner Accor November 25, 2020 Ennismore, the owner of London hotel chain Hoxton, is planning to merge with Accor, the parent company of Ibis, Novotel and Mercure, in further consolidation for the struggling travel and tourism industry. The companies announced an all-share merger which is expected to create cost synergies of €15m a year, while the deconsolidation of existing leases [...]
London to buck UK trend with uptick in 2020 housing sales completions November 25, 2020 London is expected to buck the national trend to record an uptick in housing sales completions this year, according to the latest research. Completed sales across the UK are expected to fall six per cent compared to last year, an improvement on the original forecast of a 15 per cent drop, as the housing market [...]
Londoners pay ‘astonishing’ 30 per cent of UK’s capital gains tax November 25, 2020 Londoners pay nearly 30 per cent of the UK’s capital gains tax, with taxpayers in Kensington and Chelsea forking out the most, according to a new study. The research published this morning showed that London accounts for 29 per cent of the tax, despite being home to just 13 per cent of the UK’s population. [...]
Leadenhall Market tenants offered turnover-based rents to see them through Covid-19 November 24, 2020 The City of London Corporation has offered Leadenhall Market tenants the option to switch to turnover-based rents amid a surge of closures in the UK retail and hospitality sectors.
UK housing transactions surge in October due to stamp duty holiday November 24, 2020 UK housing transactions surged in October as the stamp duty holiday reignited the property market following the first coronavirus lockdown. Residential transactions jumped 8.1 per cent to 105,630 last month, compared to October 2019. Activity was 9.8 per cent higher than September, according to the latest statistics from HM Revenue and Customs (HMRC). Non-residential transactions [...]
Countrywide executive chairman quits as shareholders reject £90m private equity investment November 24, 2020 The executive chairman of estate agent chain Countrywide has stepped down after shareholders rejected a £90m cash injection from private equity firm Alchemy. Countrywide announced this morning that Peter Long has left the company with immediate effect, with former William Hill boss Philip Bowdock stepping in as interim chief executive. The London-listed firm said discussions [...]
Curfew to be pushed back to 11pm but pubs warn restrictions will ‘destroy’ sector November 23, 2020 The Prime Minister has confirmed that the curfew for pubs and restaurants will be pushed back to 11pm when the coronavirus lockdown ends next month, but the hospitality industry has slammed new restrictions as “disastrous” for the sector. In a statement to Parliament this afternoon, Boris Johnson announced that the lockdown will be lifted on [...]
Healthy fast food chain Leon explores restructuring options November 23, 2020 Healthy fast food chain Leon is reportedly drawing up plans for an insolvency arrangement to allow it to secure rent cuts from its landlords. The firm is working on proposals for a company voluntary arrangement, and has hired advisors to help with the plans, Sky News reported. The proposals, which are likely to involve seeking [...]
Retailers ‘relieved’ as shops get green light to open before Christmas November 23, 2020 The Prime Minister has announced that non-essential stores in England can reopen next month, in what retailers hope will provide a lifeline for the high street in the run-up to Christmas. In a statement in the House of Commons this afternoon, Boris Johnson confirmed that stores that were forced to close during the coronavirus lockdown [...]
