UK house prices: The number of tenants in serious rent arrears improves in final quarter of 2015 March 8, 2016 The number of tenants falling seriously behind on rent fell in the final quarter of 2015 after worsening in the previous three months, according to figures released this morning. There were 82,900 households behind on more than two months’ rent between October and December, down from 84,200 in the third quarter, the latest data from [...]
Retail sales run out of steam in February despite half-term and Valentine’s Day boost March 8, 2016 RETAIL sales slowed in February after a strong start to the year that was boosted by the January sales. Like-for-like sales rose by 0.1 per cent last month compared with February in 2015, when they had increased 0.2 per cent, according to the British Retail Consortium (BRC) and KPMG’s monthly data released today. The February [...]
Kleinwort Benson’s Mayfair office sold to Hong Kong billionaire Joseph Lau’s Chinese Estates for £122m March 7, 2016 An property investment firm controlled by Hong Kong billionaire Joseph Lau has snapped up Kleinwort Benson's London headquarters in Mayfair for £121.7m. Chinese Estates has agreed to buy 14 St George Street from Aberdeen Asset Management, the pair announced today, in a deal representing a 3.5 per cent yield. Designed by Eric Parry, the four-storey building comprises 51,861 square feet and [...]
Canadian pension fund CPPIB joins forces with Hermes on £1bn Birmingham Paradise city centre redevelopment March 7, 2016 The Canadian Pension Plan Investment Board (CPPIB), one of the country's largest pension funds, has made its second major foray in Birmingham this year after buying a stake in the vast £1bn Paradise regeneration scheme in the city centre. CPPIB said it will take a 50 per cent stake in the £150m first phase of the scheme alongside Hermes Investment [...]
Cala Group calls on government to tackle housing crisis by building more family homes March 7, 2016 Cala Group, has urged the government tackle the country's housing crisis by addressing the need for larger family homes, as the housebuilder forecast another year of record profits. The Edinburgh-based group, which builds high-end homes in affluent areas in the south of England as well as Scotland, said the government's increased focus on affordable housing and first time buyers was "misguided" [...]
Clothing brand Jigsaw denies sale speculation March 7, 2016 British fashion label Jigsaw has denied that it is exploring a sale of the business following reports this weeks that it has held talks with financial advisers. The fashion chain was founded in 1971 by John Robinson, who ran the business with his former wife Bella before handing over the reins to former John Lewis director Peter Ruis [...]
Korn Ferry: Retail sector shake-up drives 40 per cent rise in new chief executive appointments in 2015 March 7, 2016 Retailers made a wave of chief executive officer (CEO) appointments last year as businesses came under pressure to improve their performance and battle declining footfall. Executive search firm Korn Ferry’s latest retail CEO tracker released today shows that there were 45 hires across the sector last year, an increase of 41 per cent on the [...]
Hilton Worldwide unveils plans for £76m hotel in the City March 7, 2016 Hilton Worldwide has unveiled plans today to launch a new hotel in the City after striking a franchise agreement with the developer of the £76m scheme. The US conglomerate, which already has 35 hotels across the capital including a Hilton London near the Tower Bridge, said it will partner with the site's owner 4C Hotel Group to [...]
South African retailer Foschini eyes fashion chain Whistles March 6, 2016 Another South African company could soon step up its presence in the UK retail industry, this time with upmarket high street brand Whistles as the target. Foschini, a Cape Town-based retail conglomerate which bought Phase Eight last year, is said to be eyeing a bid for Whistles after its owners hired advisers at KPMG to sound out [...]
High Street sales slip back into the red in February as shoppers hold out for bargains March 4, 2016 A resurgence in shoppers flocking to the high street at the start of the year came abruptly to a halt in February after sales slumped back into the red. Accountancy firm BDO's monthly high street track released today shows a 1.7 per cent fall in sales for February – the first negative growth for the month of February since 2012 [...]
