Latest filings by British arm of McDonald’s reveals level of royalty payments to Luxembourg entity October 30, 2016 The British operations of burger giant McDonald's paid £123m for franchise rights last year which are part of a structure that is being investigated by European authorities. The company, whose UK operations are captured in a Luxembourg based company, McD Europe Franchising, reported a profit of $541m for the year to December 2015, almost identical to the $540m it [...]
Soho House has revealed a £40m cash injection in its latest accounts October 30, 2016 Private members club Soho House has revealed a £40m cash injection despite recording increased operating losses. Parent group SHG Acquisition (UK), which also includes operations in Istanbul and Amsterdam, revealed an operating loss of £11.8m in accounts filed with Companies House for the 2015 financial year. It comes a year after SHG notched an operating [...]
New Builds: From 31 storey Docklands towers to boutique homes next to the Royal Courts of Justice October 28, 2016 Dollar Bay, Docklands From £5m Four penthouses that form the crowning glory of this 31-storey tower in the Docklands are on sale this week. Two four floor, three bedroom penthouses and a couple of two bedroom duplexes are on sale next to each other at the apex of this joint venture between Mount Anvil and [...]
Focus On Bermondsey: River views, great food, warehouse conversions – what more could you want in SE1? October 28, 2016 This ancient town, first mentioned in the Domesday Book as Bermundesy, has had a colourful existence on the south bank of the river Thames. For centuries condemned as a slum, this centrally located area in Zone One has blossomed in the last ten years into one of the most artistic – not to mention delicious [...]
The Big Bang 30 years on: How the City went from bowler hats and liquid lunches to smartphones and tossed salads October 26, 2016 There’s now a whole generation of City workers – and City A.M. readers – who weren’t even born when the markets were deregulated back in 1986. Standing in Leadenhall Market on a week-day afternoon, they could be forgiven for thinking the City hadn’t changed all that much over the last 30 years. Hundreds of besuited [...]
Ritz boss lashes out over business rates revaluation: “Most politicians have never had a job” October 26, 2016 The man behind London’s most iconic hotel has lashed out at politicians in charge of a shaking-up business rates, accusing them of failing to understand business because they have “never had a job”. Andrew Love, deputy chairman of the Ritz, told City A.M. a revaluation of business rates unveiled at the end of last month [...]
Whitbread’s share price falls as half-year results fail to impress October 25, 2016 Whitbread's penchant for the finer stuff failed to excite the market as its share price fell nearly three per cent after unveiling its half year numbers. The figures Total revenues increased by 8.1 per cent to £1.6bn, although like-for-like growth was up by a more modest 1.9 per cent. The group's Premier Inn hotel network generated just [...]
Long Weekend: Discover the glitzy nightlife and historic Portuguese-Chinese heritage of Macao, China October 21, 2016 THE WEEKEND: Macao may be known for its glitzy nightlife, but this unique destination only 40 miles from Hong Kong on the south coast of China offers a whole lot more than the roll of the dice. A huge foodie scene, a dazzling array of luxury hotels and a vibrant selection of cultural hotspots make [...]
Focus On Herne Hill: House prices rise 12 per cent year-on-year in Brixton’s genteel neighbouring town October 21, 2016 Without a doubt Brixton’s greener neighbour, Herne Hill is also seen historically as Brixton’s more genteel neighbour. In the mid-19th century, this well-heeled south London suburb was home to mainly large, upper class “country” estates and revered members of high society – such as art critic John Ruskin – grew up there. These days, past [...]
Focus On Holloway: How the area went from “no-go area” to a thriving hotspot for independent businesses October 17, 2016 Holloway may be one of the oldest neighbourhoods in north London, but it hasn’t always been popular. Londoners who weren’t Arsenal fans might only pass through to get on to the M1 and its infamous women’s prison on Parkhurst Road hardly does wonders for its reputation. For a long time, its only cultural claim to [...]