M&G backs £200m Snowhill scheme in Birmingham, as part of a 20 year master plan to turn the area into a business hub March 16, 2016 Fund manager M&G real estate has swooped in to back the £200m construction of Birmingham's Three Snowhill, in what will be one of the largest city office schemes to be built outside London. The 420,000 square feet building, which is being built speculatively by developers Ballymore, is part of a wider 20-year master plan to [...]
Here’s what the new Nine Elms Tube station will look like March 16, 2016 Transport for London (TfL) has unveiled its design for Nine Elms Tube station, which will open when the Northern Line extension is completed in 2020. In a statement today it said it had been given planning permission for 332 homes over the station, as well as 5,332 sq m of office space, 902 sq m of [...]
Budget 2016: George Osborne’s speech in full March 16, 2016 George Osborne has just revealed the Budget for 2016. There was good news for businesses with corporation tax being sliced and business rates being reformed – but bad news for smokers and students who hate maths. Mr Deputy Speaker, Today I report on an economy set to grow faster than any other major advanced economy in [...]
Budget 2016: Crossrail 2 could level the playing field when it comes to London’s house prices and office rents March 15, 2016 London is growing at an astronomical rate. Every week, more than two Tube-loads of people move into the capital and while the city’s transport infrastructure is a well-oiled machine, if we fail to invest in major projects, we run the risk of the network grinding to a halt. Set to be announced as part of tomorrow's Budget, Crossrail [...]
London office rents may be high – but there’s still plenty of fuel in the tank for growth as businesses look outside the centre March 14, 2016 Central London’s property market has been booming now for half a decade. Values and rents for the capital’s offices have risen steadily, by 88 per cent and 44 per cent respectively between April 2010 and January 2016, and those investing in the market have enjoyed total returns of 140 per cent over the same period. As ever, many [...]
City Moves for 14 March 2016 | Who’s switching jobs March 14, 2016 Accenture Professional services group Accenture has promoted Joydeep (Joy) Bhattacharya, pictured, to lead the Accenture Interactive business in the UK and Ireland. In addition to his new role, Joy will maintain his existing responsibilities as regional general manager for Fjord, Accenture’s design and innovation unit, in Europe, Africa and Latin America (EALA). With over 15 [...]
Fashion chain Jigsaw takes piece of West End after signing up to the Crown Estate and Oxford Properties’ £400m St James’s Market scheme March 14, 2016 Jigsaw has become the latest retailer to sign up to the Crown Estate and Oxford Properties’ £400m St James’s Market scheme. The fashion chain will open a 3,000 square feet shop last this year joining Swedish cycling brand Assos, Smeg and office tenants such as private equity Carlyle Group. Jigsaw's so-called Emporium will include 1,000 sq ft for its [...]
Footfall dips in February as shoppers abandon shopping centres and high streets March 14, 2016 Consumers flocked to retail parks in February but shunned high streets and shopping centres, according to data out today. Visitors to UK shops dropped by 1.1 per cent in February – an abrupt reversal of the 1.2 per cent rise seen in January, the British Retail Consortium (BRC) and Springboard said. High streets and shopping [...]
Speedy CBRE team crush the corporate competition in Tower 42’s Vertical Rush March 10, 2016 TV personalities may have won the adrenalin fuelled race to the top of Tower 42 earlier this week, but one City firm also rose to the challenge. Five members of staff from real estate advisor CBRE were crowned champions of the annual Vertical Rush challenge on Wednesday. The sprint up every floor of Tower 42, precisely 920 steps, is about [...]
Metro Bank share price up as unconditional trading begins on London Stock Exchange and Jefferies initiates coverage with a buy March 10, 2016 Shares in Metro Bank are trading above the price of the British challenger bank's initial public offering (IPO) today, the first day of unconditional trading for the stock on the main market of the London Stock Exchange (LSE). The stock is trading at 2,200p per share this morning, compared to an IPO price of 2,000p per [...]