Retailers return to stores even as footfall dips August 17, 2014 UK high streets are getting less and less empty as the economic recovery continues, even as fewer shoppers actually head for shops. The British Retail Consortium (BRC) and Springboard revealed this morning that the vacancy rate in UK town centres had dropped to just 10.1 per cent in July, half a percentage point down from [...]
London Report: Rate watchers to eye MPC minutes to see if dissent surfaces August 17, 2014 THERE will be keen interest in the details of the latest set of MPC minutes, out on Wednesday. The main question will be: does the MPC remain unanimous in its stance, or was there some dissent for the first time against Mark Carney? Today will see interim reports from Amlin, Bovis Homes Group, Clarkson and [...]
Gimme 5: Companies crowdfunding this month August 11, 2014 All Star Minerals 12 per cent; 540-day convertible loan A listed UK mining company focused on the Queensland area of Australia. Current focus is on two near-term production copper-gold mines. It’s seeking £50,000. Crowd for Angels Mughals, The Series 10 per cent equity A television drama series about the Mughals, in the style of [...]
Crown Estate and Norges Bank seize Mayfair estate for £381m August 10, 2014 The Crown Estate and Norges Bank Investment Management (NBIM) have snapped up a large chunk of Mayfair for £381m after fending off fierce competition from other property rivals. The pair said yesterday that they have bought a 64.2 per cent stake in the Pollen Estate from the Church Commissioners for England. NBIM has purchased 57.8 [...]
Osborne announces plans to explore the future of Bitcoin August 6, 2014 George Osborne has announced plans to explore how cryptocurrencies such as Bitcoin can play a role in the UK financial system. The chancellor has commissioned the Treasury to produce a report on digital currencies, examining their potential benefits and risks, which is set to be published in the Autumn. Osborne said he aims to make the UK [...]
Urban Exposure becomes latest company to drop plans to float August 5, 2014 RESIDENTIAL property lender Urban Exposure yesterday became the latest company to scrap plans to float, blaming London’s lacklustre IPO market. The investment firm, founded by former Deutsche Bank risk analyst Randeesh Sandhu, had planned to raise £500m to help fund the construction of more homes in London and the south east. However, in a statement [...]
City Moves for 04 August 2014 | Who’s switching jobs August 3, 2014 Sovereign Land The retail and leisure developer and asset manager has announced the appointment of Thomas Mallindine as a senior asset manager. He previously worked at M&G Real Estate for five years, most recently as investment manager, retail and institutional funds. Kingston Smith & Partners The corporate recovery and insolvency arm of Kingston Smith, the accountancy [...]
Taking the Harlequins to new heights with launch at Shard July 30, 2014 The mighty Harlequins may be based out in Twickenham but its stars schlepped across to the Shard for an 8am launch to their season yesterday, with sponsors DHL Express and Adidas joining along for the ride. With the ‘Quins often referred to as the City Slickers, chief exec David Ellis thought the view was fitting. [...]
City Moves for 30 July 2014 | Who’s switching jobs July 29, 2014 Anthology David Clark has been appointed chief financial officer at the property developer, backed by Oaktree Capital Management. He joins from Mount Anvil, the specialist residential property developer, where he was group finance director. CityJet Patrick Lukan has been appointed chief commercial officer at the airline. He joins from Carlson Wagonlit Travel, where he was [...]
City’s Gherkin skyscraper to be sold off with £640m starting price tag July 28, 2014 The City’s iconic Gherkin has been put up for sale on the open market after it collapsed into receivership earlier this year, with a price tag of around £640m. Receivers at Deloitte have appointed their real estate arm and Savills to sell 30 St Mary’s Axe, which will be advertised to buyers across the [...]