Restaurant Review: Ten Room July 22, 2014 I wonder if Ten Room at Café Royal saw it coming. A multi-million pound restaurant in an iconic London hotel… If you listened carefully in the days leading up to opening week earlier this year, you could hear the faint, metallic screech of knives being sharpened. And by all accounts, it was more than deserving [...]
R Capital bid to rescue Unipart Automotive from the scrap heap July 21, 2014 Unipart Automotive, the car parts supplier facing imminent bankruptcy, may hope for a late reprieve as investment firm R Capital is believed to be looking to buy the company. Sources say negotiations have been going on throughout the weekend with KPMG, the accountants appointed by Unipart Automotive, with a decision likely this week. Unipart Automotive, [...]
TGI Friday’s owners considering sale of chain’s British restaurants July 21, 2014 A sale of TGI Friday’s UK restaurants is under consideration by its owners, Sentinel Capital and TriArtisan Partners, just two months after they bought the restaurant chain. The private equity firms bought the global restaurant chain, known for its casual dining bar and grill service, in May for $800m (£468m). However the new owners are [...]
Clipper Round the World Yacht Race sailors veering from austerity to global QE bid July 14, 2014 Clipper Round the World Yacht Race sailors were splashing the champagne about as they arrived back in London over the weekend after a 40,000 mile round the world race. With entrants from firms including Goldman Sachs, UBS, Credit Suisse and HSBC, critics might label this sprinkling of sparkling as City excess. But organisers [...]
Chinese Hony Capital eats up Pizza Express July 14, 2014 PIZZA Express became the latest UK brand to be snapped up by a Chinese buyer after it was announced that the restaurant chain would be sold to Chinese private equity firm Hony Capital for around £900m. The sale of Pizza Express is part of a recent trend that has seen Chinese buyers take ownership of [...]
City Matters: Why the frustrating rejection of Smithfield redevelopment helps no one July 14, 2014 In 2018, the first Crossrail trains will come roaring in to Farringdon Station and commuters will spill out along its 200m platform. Some of them will be working in the new office buildings going up on Farringdon Street, as the railway helps revitalise the area. None will be working in the new Smithfield Quarter building [...]
China’s Hony Capital buys Pizza Express for £900m July 12, 2014 A private equity firm in China has purchased Pizza Express for £900m. Hony Capital bought the British restaurant chain after winning against other Chinese firms in a bidding process. The move comes after London-based buyout group Cinven looked into selling Pizza Express' parent company Gondola Group last year. Gondola Group also owns [...]
Work in Progress: Living in a postcard at One Tower Bridge July 11, 2014 While many new homes boast of their panoramic views across London, none are quite as iconic as the sight from One Tower Bridge. This landmark development from Berkeley is being built right next to one of the world’s most famous river crossings. It’s a mixed use site so, if you’re not planning on living [...]
Check out this Silicon Roundabout penthouse with a hot tub overlooking the City July 10, 2014 TWO imperious towers oversee the numerous technology industries clustered around Silicon Roundabout. Perched atop the taller of the two, sitting pretty at 154ft, is The Penthouse 127. This three-bedroom duplex apartment, which is part of the Bézier development, was built for entertaining. Not only is it a short walk from the City and the offices [...]
Pickles and celebs scupper plans for £160m Smithfields project July 8, 2014 Communities secretary Eric Pickles yesterday rejected as “wholly unacceptable” a £160m plan to develop London’s Smithfield market, siding instead with campaigners battling to save the site from becoming a new complex of offices, shops and restaurants. The campaign against the plans for the redevelopment of the Victorian fish and general market halls, derelict for 15 [...]