Circassia float sends Imperial profits soaring October 15, 2014 IMPERIAL Innovations, the Aim-listed commercialisation firm founded by Imperial College London, saw its profits soar seven-fold lifted by proceeds from four initial public offerings (IPO) of firms under its investment. The IPO of biotech firm Circassia Pharmaceuticals saw Imperial’s 14 per cent holding, its largest ever investment, in the group appreciate by £33.2m since its [...]
Construction in London dodged recession’s bite October 8, 2014 CONSTRUCTION in the capital has been invulnerable to the financial crisis and the following recession with growth now predicted to surpass its trend level. The last three months will have seen activity soar above its pre-crisis trend, according to data from Scape, a government owned construction company. The remaining figures are from the Office of [...]
Ex-New York mayor Michael Bloomberg gets knighted October 6, 2014 The former mayor of New York city, Michael Bloomberg, yesterday became a Knight, when the Queen made him an honorary member of the British empire. Bloomberg said he is “deeply honoured.” The award was given in recognition of his entrepreneurial and philanthropic work. As a foreign citizen Bloomberg will not be free to use the [...]
Most of London’s mansion tax properties are flats October 2, 2014 Three quarters of London properties which would fall into the so-called “mansion tax” bracket are flats or terraced houses, according to Knight Frank figures. The property consultants analysed sales data to see what type of “mansions” would fall into the £2m plus category Labour leader Ed Miliband would target if his party came to power. [...]
City Moves for 2 October 2014 | Who’s switching jobs October 1, 2014 Gibson Dunn & Crutcher The law firm has announced two appointments to its London office. Charlie Geffen (pictured) joins as a partner and chair of its London corporate practice from Ashurst, where he was senior partner. Mark Sperotto also joins as a partner from Ashurst. EY Phil Dunne has been appointed partner to lead the [...]
Trophy deals help fuel profits at Knight Frank September 28, 2014 SECURING trophy buildings for cash-rich investors helped Knight Frank deliver record sales and profits last year, the property agency said today. The firm, which is owned by its partners and operates 335 offices in 52 countries, saw profits jumped by 33 per cent in the year to £136.6m in the year to 31 March compared [...]
Art review: Anselm Kiefer, The Royal Academy September 26, 2014 ★★★★★ A distant, solitary figure stands before the sea, arm raised in a Nazi salute. The title of the painting: Heroic Symbol. Ironic? Well, yes and no. For though Anselm Kiefer was no Nazi, there is genuine heroism in depicting this image, in recalling the past from the chasm of silence into which Germany fell [...]
Why “ego appeal” has made office space in London’s skyscrapers the fourth-most expensive in the world September 24, 2014 If you want to rent an office in one of the City's trendy skyscrapers, it's going to cost you. At an average of $2,400 (£1,467) per sq ft, London's high-rise office space is the fourth-most expensive in the world, according to a report published today – just behind Hong Kong, Tokyo and Manhattan. According to [...]
British Land sells just 18 flats for total of £210m September 22, 2014 PROPERTY developer British Land has sold some of the most expensive London property ever, with 18 apartments in Mayfair going for £210m. Four of the flats sold for over £5,000 per sq ft, a record for Mayfair’s property market. The so-called “super-prime” property, Clarges Mayfair, was acquired by British Land for £129.6m in 2012 and [...]
UK house prices soar as lack of homes fuels cost of living crisis September 22, 2014 House building in the UK has been in a continual state of decline since the 1970s, making it harder to own a home and to pay rent, according to a report released yesterday. In the several years preceding the financial crisis, just under 200,000 houses were completed per year – half the number that [...]