When two don’t become one: Kensington & Chelsea clamps down on applications to combine homes April 28, 2016 First it was mega-basements, now joined homes are coming under scrutiny. The Royal Borough of Kensington & Chelsea (RBKC) has said it is keeping a stern eye on homeowners who want to knock properties together in attempt to meet its supply targets and prevent the loss of any more homes. Research from high-end property search firm [...]
Heron Tower owners secure £400m refinancing deal April 28, 2016 The owners of the Heron Tower in the City have agreed a £400m refinancing deal with ING and German bank Landesbank Baden-Württemberg (LBBW). The two banks have jointly underwritten the five-year senior term loan in a deal believed to value the tower at around £720m. Law firm Baker & McKenzie advised the banks on the deal while Olswang acted for the [...]
Hunters Property hails strong maiden results as public company April 28, 2016 Hunters Property has posted a jump in revenues and profits in its first set of annual results since floating on London's junior AIM market last summer. The national sales and lettings estate agency said sales increased by 31 per cent to £12m last year after expanding its footprint with 32 new branches, of which 23 were conversions [...]
BHS administrators reassure staff over pay but say search for buyer still ongoing April 28, 2016 BHS administrators have sought to reassure staff that they will continued to be paid as they seek a buyer for the ailing chain. Duff & Phelps joint administrator Philip Duffy has issued a statement confirming that it has received "a number" of expressions of interest, understood to be more than 50, and that it continues to seek [...]
Taylor Wimpey says it’s “well equipped” to handle Brexit uncertainty as order book fills up April 28, 2016 The boss of one the UK's largest housebuilders, Taylor Wimpey, has shrugged off concerns surrounding the EU referendum, claiming that it is "well equipped" to react to any changes in the market and that uncertainty in the run-up to the vote has had no effect on trading. Speaking at the company's annual general meeting this morning, [...]
LK Bennett sales boosted by online expansion but closure of some weaker UK stores dents turnover April 28, 2016 LK Bennett, the fashion retailer that counts the Duchess of Cambridge among its fans, said like-for-like sales grew by five per cent last year after winning over new shoppers through its growing portfolio of stores overseas. However, group turnover slipped as the high street brand shut down some of its loss making UK stores, falling by 1.8 [...]
Discount high street chain launched by Christo Wiese and ex-Asda boss Andy Bond plots more store openings April 28, 2016 Pep&Co, a discount variety chain launched last year by former Asda boss Andy Bond and Christo Wiese, the South African retail magnate, has announced plans to roll-out more stores this autumn after opening 50 sites in just over 50 days last summer. Wiese already snapped up discount chain New Look through his investment vehicle Brait in 2014. However, [...]
Top McCarthy & Stone investors sell their shares in £200m placing April 27, 2016 Investors in McCarthy & Stone, the retirement housebuilder, sold 85m shares in a share placing worth around £200m. Funds managed by Anchorage Capital Group, TPG Special Situations Partners, Goldman Sachs European Special Situations Group and Strategic Value Partners, LLC and certain other shareholders have sold shares representing 15.8 per cent of McCarthy & Stone's share capital. [...]
Vital Ingredient gets a £8m health kick from Lloyds Banking Group’s private equity arm April 27, 2016 LDC, the private equity arm of Lloyds Banking Group, has backed the management buyout of salad chain Vital Ingredient. The company will invest £8m into the business while Santander will provide a further £4m funding to help the business double in size from 17 to 35 outlets over the next three years. Read More: LDC buys stake [...]
