Canary Wharf’s Citigroup skyscraper goes up for £1.2bn sale October 16, 2018 London's iconic Citigroup tower is being put up for sale for roughly £1.2bn, in a sign that the capital’s buoyant commercial property market shows no sign of slowing down. Sources confirmed to City A.M. tonight that AGC Equity Partners is putting the skyscraper at 25 Canada Square on the market five years after it bought [...]
Barratt chair threatened with investor rebellion after shareholders advised to vote against re-election October 16, 2018 Housebuilding giant Barratt Developments could suffer a revolt at its annual general meeting tomorrow, after an influential shareholder advisory group recommended investors vote against the re-election of chairman John Allan. PIRC has said that Allan, who is also chair of Tesco, “cannot effectively represent two corporate cultures…the possibility of having to commit additional time to [...]
James Dyson: No-deal Brexit ‘will not change anything’ October 16, 2018 British inventor James Dyson has said that a no-deal Brexit “will not change anything”, lashing out at car industry giants who have recently raised concerns over job losses if a deal with the EU is not reached. The vacuum magnate and Brexit advocate told Parisian financial newspaper Les Echos: “Taxes or delays at the customs, [...]
Green light given to £230m Docklands tower October 16, 2018 Plans to build a £230m apartment block on the Isle of Dogs were given the green light today, joining a growing list of residential towers set for development in London’s Docklands. Central London developer LBS Properties is set to start construction on the 48-storey scheme for 332 flats near Canary Wharf after being given planning permission [...]
FTSE housebuilder Bellway cements position with rising profits but caution lingers October 16, 2018 Housebuilder Bellway sent mixed messages to the City this morning, as a rise in profit coincided with a cautious warning over Brexit. Pre-tax profits climbed 14 per cent to £641m over the last 12 months, as robust annual sales pushed the firm above the 10,000 homes mark for the first time. Revenues also jumped 15.6 [...]
Aldi and Lidl to be part of watchdog probe into Sainsbury’s takeover of Asda October 16, 2018 The UK’s competition watchdog will be factoring in the role of major rivals and potential threats to suppliers as part of its probe into the planned Sainsbury’s and Asda merger. The Competition and Markets Authority (CMA) said this morning that as part of its investigation into the J Sainsbury takeover of rival Asda, the “level [...]
Central London commercial market booms as tech giants move in October 16, 2018 An influx of tech and creative giants has bolstered the capital’s buoyant commercial property market in the last three months, with business space under offer rising across central London. Facebook’s arrival in King's Cross significantly boosted office take-up levels, after the tech giant took more than 600,000 square feet (sq ft) as its new London [...]
Cake Box leaves a sweet taste in wake of upbeat projection October 15, 2018 Cake Box's shares climbed today after the firm posted an upbeat outlook on its sales and profits. Shares in the cream cake specialist jumped more than eight per cent in morning trading, amid the news that it was expecting profits for the full year to be ahead of current market forecasts. The retailer is projecting revenue [...]
London developer Galliard invests £500m in new Birmingham homes October 15, 2018 London property developer Galliard has embarked on a £500m joint venture project in Birmingham amid efforts to expand beyond the capital’s subdued housing market. In its first Midlands project, Galliard has purchased a portfolio of new developments in partnership with regional developer Apsley House Capital, in a bid to tap into Birmingham’s growing popularity among young couples and first-time buyers. [...]
Embattled Patisserie Valerie boss steps down from The Restaurant Group amid financial fiasco October 15, 2018 Patisserie Valerie’s boss has resigned from his role on the board of The Restaurant Group (TRG) “with immediate effect”, as he vies to keep the cake firm afloat in the wake of an accounting scandal. Paul May has stood down from his position at the group, which owns brands such as Frankie & Benny's and [...]
