Mortgage firm should use new ambitions to fund core activity December 3, 2012 SO, it looks like even the buy-to-let cash cow isn’t enough to satisfy FTSE 250 success story Paragon anymore. Paragon’s share price has been mirroring the rental market recently. Rents soared to yet another record high last month, with the average London tenant paying £1,102 a month according to LSL, while mortgage provider Paragon’s shares [...]
St Modwen hunts for a partner on Elephant and Castle scheme December 3, 2012 ST MODWEN yesterday confirmed it was searching for a development partner for the £500m Elephant and Castle shopping centre regeneration in south London. In a trading update for the year to 30 November, the developer said it has hired Colliers International to find a joint venture partner for the scheme, which is expected to provide [...]
Rapid responses December 2, 2012 New energy model [Re: Simpler energy tariffs will lead to higher bills and less competition, Thursday] It is a mistake for a prime minister to interfere in markets. Competition in the retail energy market was always a bad idea. Since the buying power of the domestic consumer is relatively small, competing for custom is correspondingly [...]
The digital printing duo with a thriving portfolio December 2, 2012 NICK and Tim Green are executive director and chief executive respectively of Tangent Communications, an alternative investment market (AIM)-listed digital printing and marketing company. They have gone against the old adage that you should never go into business with family to set up businesses that have made waves within their industries. Indeed, having made plans [...]
Popular West End lifts profits at Shaftesbury November 29, 2012 SHAFTESBURY’s fortress of West End properties helped the landlord post a glowing set of full year results yesterday, in what it called an “exceptionally” busy year for London. The FTSE 250 company’s net asset value rose by 7.6 per cent to 498p a share in the year to 30 September, driven by a boost in [...]
Train pain for season ticket commuters November 28, 2012 COMMUTERS should brace themselves for season ticket price hikes of up to six per cent in January, despite the government’s intervention to stem inflation-linked fare rises. Passengers from Canterbury will be worst hit in percentage terms, with the price of an annual season ticket to London rising 5.9 per cent to £4,860 in the new [...]
Floor price for alcohol will hit poor hardest November 28, 2012 THE GOVERNMENT yesterday unveiled plans to introduce minimum prices for alcohol, despite concerns that such a move will penalise ordinary drinkers. The home office proposals include a ban on multi-buy promotions and a minimum unit price of 45p in England and Wales. As a result a one litre bottle of Gordon’s gin – currently available from [...]
Gatwick looks to grow through single runway as traffic rises November 28, 2012 GATWICK executives talked up the airport’s chances of competing with London’s biggest hubs yesterday as the firm posted rising revenues and traffic. Britain’s second-biggest airport said passengers rose 1.2 per cent on last year to 19.9m in the half-year to the end of September. Turnover jumped 3.6 per cent to £325.8m, helped in part by [...]
City scheme wins consent November 27, 2012 JAPAN’S second largest property developer has won consent for the redevelopment of an office block at Finsbury Circus in the City. Mitsubishi Estate Company announced yesterday that the City of London Corporation had granted planning consent for the 240,000 square feet scheme at River Plate House. The Wilkinson Eyre designed project will be redeveloped into [...]
Best of the Brokers November 26, 2012 BRITISH LAND UBS has upgraded the property firm from a “neutral” rating to “buy”, citing reduced risk from the company’s “ageing portfolio”. UBS upped British Land’s target price to 580p. COMPASS GROUP Analysts at Nomura have upped their guidance on the caterer, increasing the price target from 800p to 832p on the back of improving [...]