Easter celebrations boost spending at pubs and restaurants in March April 20, 2016 Britons spent more time at the pub in March, new research shows, as the early Easter bank holiday helped boost spending on leisure activities by 10 per cent over the year. Greene King’s Leisure Spend Tracker found that the early Easter celebrations helped drive a positive increase and levelled out any uncertainty felt after a busy Christmas period and a rather [...]
London construction activity slows as Brexit uncertainty and planning delays hit growth April 20, 2016 London's construction market suffered a sharp slowdown over the quarter, despite recent government efforts to encourage more housebuilding and deliver more homes across the capital. The Royal Institution of Chartered Surveyors' construction market survey found that private housing workloads rose at their slowest pace since fourth quarter of 2012, with only 20 per cent more of those working in the [...]
Sigma Capital profits rise ten-fold as push into private rental sector pays off April 19, 2016 Kuwaiti-backed property developer Sigma Capital has posted a jump in full-year profits after its push into the growing private rental sector (PRS) paid off. The Aim-listed company, which has offices in London, Manchester and Edinburgh, said revenues increased by 74 per cent to £6.72m last year while profit from operations rose 877 per cent from £1.63m to £1.82m. Profit before [...]
EU referendum: Companies hunting for new London offices shrug off Brexit fears April 19, 2016 Companies were still on the hunt for new offices in London in the first quarter of the year, despite fears that economic jitters and the prospect of a Brexit could stifle demand. More than 3.1m square feet of space was snapped up, with Thomson Reuters' deal to decamp all of its staff to new 315,400 sq ft Canary Wharf headquarters lifting overall take-up [...]
Next chief executive Lord Wolfson’s bonus halved last year as retailer fails to meet top earnings target April 19, 2016 Next chief executive Lord Wolfson's bonus fell to half the amount received the previous year after the retailer failed to meet its top earnings target. The Tory peer, who has been at the helm of the company for the past 15 years, was paid £4.76m in cash and shares last year, including a £503,000 bonus. Although that was still higher [...]
Online retail sales growth rate doubles in first quarter as shoppers ditch surfing on their tablets for smartphones April 18, 2016 Online retailers have enjoyed a strong start to the year after shoppers splurged almost twice as much on their sites as they did during the same period last year. The latest figures from industry analysts IMRG and Capgemini yesterday showed online sales, excluding travel, grew by 15 per cent in the first quarter compared with [...]
Housing association L&Q to build 200 homes after buying £150m Wandsworth Town site April 18, 2016 The housing association London & Quadrant (L&Q) has announced plans to build a further 200 homes in south London after buying a £150m development site near Wandsworth Town Centre. L&Q, which is currently in merger talks with two other associations to create the country's fourth biggest housebuilder, said it has purchased Garratt Place near Earlsfield station from Wandsworth Council and South Thames College. [...]
Paint by numbers: Conran paint company launches £5m mini-bond through crowdfunding April 18, 2016 Master Paintmakers (MPL), the company behind design veteran Sir Terence Conran's eponymous paint brand, is to raise up to £5m using crowdfunding platform Karadoo. The 124-year old paint maker has launched a mini-bond through the site, offering investors an annual dividend of six per cent over five years, as well as an online discount on its paints. It will use the funds to help expand its range [...]
Spotify backer Accel moves headquarters in West End to The Crown Estate’s One New Burlington Place April 18, 2016 East London may have stolen the tech spotlight in recent years as new and more established names flocked to get a foothold in Tech City, however, the West End has proved it is still getting its fair share of deals. The Crown Estate has today announced that fintech venture capital firm Accel will move its European headquarters to one [...]
Lidl steps up expansion with plans for giant distribution hub in Devon, creating 500 jobs April 18, 2016 Lidl has revealed plans to build a new distribution centre in Devon, as the fast-growing discounter presses ahead with its expansion in the south west of England. The supermarket chain bought the site in Clyst Honiton near Exeter airport in February from Sainsbury’s after the rival chain aborted its own plans for a depot. Read [...]
