Derwent London sells Hoxton Hotel development on South Bank to Ennismore for £34m December 7, 2015 Derwent London has sold a development site on London’s South Bank to Hoxton Hotel owner Ennismore for £33.5m, as the company prepares to build a third branch of its East End venue. The FTSE 250 developer and Ennismore teamed up to gain planning consent this summer to convert Wedge House at 40 Blackfriars Road into [...]
House prices in City fringe areas of Shoreditch, Clerkenwell and Hoxton have surged by 62 per cent since 2008 December 7, 2015 House prices in London’s City fringe have surged since the crisis to outperform the wider London market, new research shows, thanks to the booming popularity of areas such as Shoreditch, Clerkenwell and Wapping to live as well as work. According to property advisory firm CBRE, average residential property prices in the City fringe have soared [...]
One Undershaft: Plans to build the City’s tallest skyscraper and London’s second highest building revealed December 7, 2015 Plans to build the City’s tallest skyscraper and London's second highest building – rivalled only by the Shard – have been unveiled today. Singapore-based developers Aroland Holdings are seeking planning permission to build a 73 storey tower at One Undershaft in the City, between the Leadenhall Building and 30 St Mary’s Axe. Standing 309.6 metres [...]
UK consumer spending slows in November despite Black Friday sales boom December 7, 2015 Consumer spending edged higher in November as feverish demand for televisions and other bargains online over the Black Friday weekend helped to offset a decline on the high street. Figures released today based on credit and debit card transactions from Visa Europe show consumer spending rose by 1.1 per cent on the year, albeit at [...]
Tata Steel nears sale of Scunthorpe plant as three bidders emerge December 6, 2015 Tata Steel is said to be nearing a sale of its business unit that includes its 150-year-old Scunthorpe plant, with a deal expected to be agreed as early as this week. The company is understood to have received formal bids from three interested parties, according to the Sunday Telegraph. These include Greybull Capital, the investment firm [...]
Home Retail Group’s DIY chain Homebase eyed up by French suitor for takeover bid December 6, 2015 Takeover interest in Home Retail Group’s Homebase is heating up amid reports that a French rival is eyeing a bid for the DIY chain. Leroy Merlin, the French home-improvement and gardening retailer with stores in 13 countries, is said to have examined a bid for the group. It is unclear whether the Family-owned group is [...]
John Lewis hails record-breaking Black Friday week December 4, 2015 John Lewis has reported the best week of trading in its 151-year history, as frenzied demand for the latest wearable technology, toys and televisions over the Black Friday helped the retailer smash last year’s record. The department store group said it racked up £187.7m of sales in the week ending 28 November, which was up [...]
UK house prices: repossessions drop by 55 per cent as north-south divide narrows December 4, 2015 Home repossessions have dropped by 55 per cent year-on-year across England & Wales, new figures released today show, thanks to the ongoing economic recovery. The gap between home repossessions in the north and south has also narrowed by 80 per cent since the recession to 1.1 per 1,000 households in the north compared 0.7 per [...]
Moody’s: US and European tobacco industry poised for rise in operating profits in 2016 December 3, 2015 The US and European tobacco industry will see a rise in operating profits in 2016 despite a drop in cigarette sales, according to the latest forecasts by Moody’s Investors Service. The ratings’ agency predicts a four to five per cent rise in operating profits next year in both the US and Europe, even as cigarette [...]
UK house prices: Stamp duty reforms have saved homebuyers £1.9bn since last year December 3, 2015 The chancellor’s stamp duty reforms may have added to the bill for high-end homes. But for the vast majority who have bought homes under £1m, the measures have represented huge savings. UK homebuyers have collectively saved £1.9bn since the old slab system was abolished last December and replaced with a more progressive tax system, figures [...]
