House of Fraser flagship Oxford St store to shut as firm warns of ‘inevitable’ further closures November 17, 2021 The House of Fraser flagship store on Oxford St is set to permanently close, in another blow to the capital’s shopping district. Frasers Group said it had been served notice by the landlord to close the site, after an application for planning permission to redevelop the site was given the green light. A spokesperson for [...]
September house prices show ‘last of stamp duty sizzle’ November 17, 2021 UK house prices leapt in the year to September in the run up to the final stamp duty holiday deadline, government figures show. HMRC’s latest house price index shows that house prices climbed 2.5 per cent in September and 11.8 per cent annually. The average price of a property in the UK was £269,945, hitting [...]
Life Science raises £350m in over-subscribed IPO as it plots ‘Golden Triangle’ growth November 17, 2021 A real estate investment trust (REIT) Life Science has raised gross proceeds of £350m as it anticipates a stock market debut this week. New ordinary shares were issued at £0.01 each and Life Science has made an application for 350m shares to be admitted to AIM. The admission will make it the first London listed [...]
Workspace bets on the office return with £45m Islington acquisition November 17, 2021 Office-space provider Workspace has announced it has bought out a smaller competitor, The Busworks, in a £45m deal as more people return to offices in London. The FTSE-250 company today said it will upgrade the iconic building, a former Victorian bus factory from 1888, which is currently being used as office spaces to rent. The [...]
British Land boosts profits as rent collection improves and demand grows November 17, 2021 Commercial landlord British Land swung to a half-year profit on improved rent collection and higher value of its office spaces and retail parks.
City of London gives green light for new office tower as confidence in the Square Mile returns November 16, 2021 The City of London Corporation this afternoon approved plans for a new 24-storey office tower on Houndsditch in the Eastern Cluster, the Square Mile’s seventh tall building to be approved so far this year. The City’s Planning and Transportation Committee backed Brockton Everlast’s scheme, designed by architects AHMM, which will provide roughly 56,500 sq m [...]
Back in black: Bluewater owner Landsec swings to £275m half-year profit November 16, 2021 Bluewater shopping centre owner Land Securities has revealed it swung to a half-year profit as the retail sector bounces back and workers return to offices thanks to the lifting of pandemic restrictions. The group, also known as Landsec, posted a pre-tax profit of £275m for the six months to September 30, against losses of £835m [...]
Landlords hiking rents at fastest pace since 2008 as demand for housing in London shoots up November 16, 2021 Private sector rents in September were 4.6 per cent higher than a year earlier at £968 per month on average, marking the strongest growth in 13 years. The fastest rice since 2008 comes as strong demand outstrips supply, according to an index. Excluding London, rents across the UK were up by 6 per cent annually, [...]
Home values dropping: Average house price falls by more than £2,000 November 15, 2021 New figures show this morning that the average price of a home coming to market dipped by more than £2,000 so far this month. Across Britain, the average price tag now stands at £342,401 – £2,044, or 0.6 per cent, less than in October – as sellers seek to attract buyers’ attention ahead of the [...]
Hot property: Covid ‘race for space’ has homemover numbers at a record high November 15, 2021 Whether it was shifting to the countryside, out to the suburbs or back into the post-lockdown bustle of a city centre, removals vans have been criss-crossing the country to keep up with a boom in the number of homemovers. Data out this morning from Halifax confirms the number of homemovers hit a record high in [...]