PROPERTY FIRM OF THE YEAR | September 8, 2010 THE City’s skyline is changing. Skyscrapers are springing up – okay, more slowly than before, but they are coming. Added to that the commitment to opening retail space and the whole character of the Square Mile is changing. At a time when it might have been easier to abandon their projects, they have shown confidence [...]
Pinnacle team brings in second agent to attract pre-let tenants to the tower September 7, 2010 ARAB Investments, the developer of the Pinnacle skyscraper, has brought in an extra letting agent to sell leases in the tower on Billingsgate. Property company CB Richard Ellis has joined Savills as joint leasing agent on the tower, which is set to be the tallest building in London when completed in 2013. “It’s something we’ve [...]
Clapham House warns of tough times ahead September 6, 2010 GOURMET Burger Kitchen (GBK) owner Clapham House yesterday warned of a “volatile” environment as it opened a new outlet at the 02 complex in Greenwich. Clapham, which also owns The Real Greek chain, has received a takeover approach from an unnamed suitor and talks over a possible deal are ongoing. But chairman David Page did [...]
Wagamama gears up for auction September 5, 2010 Wagamama owner Lion Capital is expected to contact potential bidders this week before auctioning the restaurant chain for as much as £250m. Rothschild, which is advising Lion, will send a memorandum with further information to interested parties this week. Lion cancelled a public flotation and turned down a £210m bid in 2007, after it felt [...]
BANK BOSS DIMON HIT BY HOUSE PRICE WOES September 5, 2010 LIFE sucks if you’re the boss of one of the world’s largest banks in the wake of the crisis – not only are you required to defend your dwindling pay package and parry stinging verbal attacks from politicians on an almost daily basis, but you’re also cursed with ill luck in the real estate arena. [...]
Brazilian trio takes Burger King for $4bn September 2, 2010 A LITTLE-KNOWN private equity firm stunned Wall Street by taking over troubled fast food chain Burger King in a $4bn (£2.6bn) deal yesterday. Analysts began talking about a potential wave of takeovers in the restaurant sector after 3G Capital, a New York-based vehicle run by three Brazilian billionaires, agreed a $24-per-share offer with the company’s [...]
HSBC warns over UK banking exodus September 2, 2010 A LITTLE-KNOWN private equity firm stunned Wall Street by taking over troubled fast food chain Burger King in a $4bn (£2.6bn) deal yesterday. Analysts began talking about a potential wave of takeovers in the restaurant sector after 3G Capital, a New York-based vehicle run by three Brazilian billionaires, agreed a $24-per-share offer with the company’s [...]
CARLUCCIO’S SOLD IN £90m DUBAI DEAL September 2, 2010 Italian restaurant chain Carluccio’s yesterday agreed to a £90.3m takeover by Middle Eastern retail giant Landmark Group. Dubai-headquartered Landmark has offered 142p a share in cash for Carluccio’s, which has 47 restaurants and food shops in the UK. Landmark plans to keep on Carluccio’s existing management team, including chief executive Simon Kossoff and chairman Stephen [...]
Restaurant Group profit surges September 2, 2010 The Restaurant Group – which owns Garfunkel’s, Chiquito, Frankie & Benny’s – yesterday reported an upturn in profit despite the ash cloud crisis which hit its airport concessions. It saw its pre-tax profit rise 13 per cent to £24.6m in the six months to July. The company raised its interim dividend ten per cent to [...]
FOCUS ON: POTTERS BAR September 2, 2010 NORTHAW ROAD WEST, NORTHAW, Price: £299,950 Not perhaps your typical first home, but this two-bed country cottage offers sufficient living space and a pretty back garden. Grade II-listed, the cottage has been recently modernised by the current owners so the property doesn’t require further decoration or works. The village has two gastro pubs. Contact: Savills [...]