Smashing hit: More than 2m journeys on Elizabeth Line during first five days alone May 30, 2022 The brand new Elizabeth Line proves to be a hit with Londoners, as more than one million passengers used the new Elizabeth line in its first five days. Since opening, the central section of the Elizabeth line between Paddington and Abbey Wood has seen more than one million journeys, TfL said this morning. Across the [...]
La Rochelle: Coastal Atlantic outpost to European Champions May 30, 2022 “Ici, ici, c’est Stade Rochelais.” “Here, here, it’s La Rochelle.” The chanted hymn of the French outpost on the Atlantic coast – now European champions. From their humble beginnings, La Rochelle have risen through the ranks and, after promotion to France’s Top14 in 2014, have never looked like a side likely to slip up. They [...]
Tech Weekly: Tech Nation CEO on UK fintech success, and Klarna focus on profits May 27, 2022 Today City A.M. reporter Charlie Conchie talks to Tech Nation CEO Gerard Grech for a chat about the company’s Impact Report, which assesses how it has helped shape leading tech firms. They also discuss the UK’s place as a fintech hub, and the potential slowdown of VC investment in fintech later this year. He also [...]
Government approves £4.25bn sale of Chelsea May 25, 2022 The government has given its approval to a £4.25bn takeover of Chelsea by a US consortium, concluding a two month saga at the West London club.
The City View: Crossrail finally arrives May 24, 2022 Today Andy Silvester talks to Adam Tyndall, Programme Director for Connectivity at London First. They talk all things Crossrail — from the first idea of an East-West railway in the 19th century, to the funding behind the Elizabeth Line, and to the future of London’s transport system. And in other news — Shell’s AGM was [...]
West End landlord Shaftesbury reaps rewards of London’s exploding rents May 24, 2022 West End landlord Shaftesbury has reaped the rewards of exploding rental growth in London, as its portfolio valuation swells as the new Elizabeth line is unveiled. The real estate investment trust raked in nearly £19m in rent in the six months to 31 March, as its offices, hospitality and leisure, retail and residential portfolio increases [...]
Grosvenor: Central London valuations ‘subdued’ amid Covid side effects May 23, 2022 Property investment firm Grosvenor is back in the black after better fortunes for its 300-acre estate in Mayfair and Belgravia. Owned by the Duke of Westminster, the multibillion-pound portfolio swung back into profit with a pre-tax profit of £327.5m, after posting a £322.8m loss in 2020. The Liverpool ONE shopping centre owner swung back into [...]
What does a weaker yen mean for investors in Japan? May 23, 2022 Changing economic circumstances could alter the market impacts of currency weakness explain experts Masaki Taketsume, George Brown and Robbie Boukhoufane. It’s a been a difficult first third of 2022 for markets generally, which is perhaps unsurprising given the many sources of uncertainty and discord in the world. A very sharp depreciation in the value of [...]
Shoreditch, Clerkenwell and King’s Cross become Crossrail winners as office rents skyrocket by as much as 123 per cent May 23, 2022 The much anticipated arrival of Crossrail has driven huge office rental growth in London submarkets, which have outperformed traditional hubs like the West End and The City of London. It comes after 24 May 2022 was confirmed as the official launch date for Crossrail. New data reveals that prime rents in Shoreditch and Clerkenwell during [...]
London developer swaps hotel plans for student housing in £173m forward fund May 23, 2022 London developer Dominvs has completed the country’s largest forward fund in the purpose built student accommodation sector for £173m, with Scape. Comprising 713-beds, the scheme will be one of the capital’s largest student accommodation developments, Dominvs exclusively told CityA.M. The university housing deal came after Dominvs had secured consent for two hotels on the Hammersmith [...]