Topps Tiles nails start to the year as Britons spruce up their homes January 6, 2016 Topps Tiles enjoyed a jump in sales over the last three months, thanks to improving consumer confidence and a rise people doing up their homes. Like-for-like sales increased by 4.4 per cent in the first 13 weeks of its new financial year to 2 January. That compared with a 5.2 per cent rise in the same [...]
Former Asda executive Paul Kelly faces prison over £180,000 flood victims fraud January 6, 2016 A former Asda executive could face time in prison after defrauding the supermarket's charity fund of £180,000. Paul Kelly, a former vice-president of corporate affairs at the Leeds-based firm, pleaded guilty to seven counts of fraud at Leeds Crown Court on Monday after diverting money that was intended for assisting flood victims to support his partner's ballet company, Murley Dance, [...]
Fine wine investor Cult Wines to make splash in Hong Kong January 5, 2016 Fine wine investor Cult Wines is poised to open a new office in Hong Kong to take advantage of increasing demand in Asia for rare and expensive bottles of tipple. The company, founded by the BBC’s Apprentice finalist Tom Gearing in 2007, said it has seen a rise of new markets such as Hong Kong and [...]
Pub sector raises glass to economic recovery as more properties change hands January 5, 2016 The pubs property sector enjoyed a resurgence in deal activity last year thanks to the economic recovery and improved consumer confidence, new research shows. The number of significant corporate deals that took place last year was similar to the number in the previous year, according to Fleurets, a commercial estate agent specialising in selling pubs. However [...]
Retail therapy: British supermarket giant Sainsbury’s considers second bid for Argos owner Home Retail Group January 5, 2016 Sainsbury's is mulling over a second bid for Home Retail Group after it came clean yesterday about a £1bn unsolicited offer for the Argos and Homebase owner. The supermarket chain said it is “considering its position” after its initial cash and share bid in November was rejected by Home Retail’s board. Home Retail was also reportedly [...]
Hipsters and Mindfulness: Ladybird books prove a hit for bookseller Foyles January 5, 2016 Publisher Ladybird's series of spoof guides helping adults to make sense of modern day themes from hipsters to hangovers have proved a hit for bookseller Foyles this Christmas. The family-owned retailer said like-for-like sales jumped by 4.7 per cent for the month of December with seven of Ladybird's for grown up series making it into the [...]
UK house prices: Sales to first time buyers rise by almost a quarter in 2015 as deposit costs drop January 5, 2016 First-time buyer sales rose at their fastest rate in November since August 2007 as the cost of owning a first home continued to fall. An estimated 31,300 first-time purchases were completed in November, up 23.7 per cent on the same month last year, according to figures released today by estate agents Your Move and Reeds [...]
Commercial property company insolvencies jump as banks call in loans January 4, 2016 The number of insolvent property investment companies has surged over the last year as banks took advantage rising commercial property values to claw back loans they have held onto since the crisis. The number of insolvencies, where a company can no longer pay its debts, rose by eight per cent to 346 in 2015 from 319 [...]
Brookfield Property Partners buys Potsdamer Platz in central Berlin January 4, 2016 Canary Wharf and Center Parcs owner Brookfield Property Partners has bought a chunk of central Berlin in partnership with an Asian sovereign wealth fund for an undisclosed sum. The Canadian and US listed property giant announced the pair have completed a deal to buy Postdamer Platz, a busy junction at the heart of the city [...]
Grainger sells Retirement Solutions business to private equity firms Electra and Patron in £325m deal January 4, 2016 Residential landlord Grainger has sold off its equity release division to two private equity firms in a £325m deal, as it turns its attention to the private rental market. Patron Capital Partners, which owns housebuilder Cala Homes, and Electra Private Equity, have exchanged contracts to buy Grainger Retirement Solutions, a portfolio of over 3,600 homes [...]
