Property developer British Land agrees £401m sale of West End offices December 23, 2020 British Land has agreed the £401m sale of a 75 per cent stake in three buildings in the West End to Allianz Real Estate. The portfolio includes three buildings; 10 Portman Square, Marble Arch House and York House, all of which are in Marylebone. As a result of the sale British Land will form a [...]
Could Goldman Sachs teach the UK how to level up organically? December 8, 2020 Almost exactly one year ago, a freshly elected Conservative government made “levelling up” one of its core priorities. Facing a new parliament with a healthy majority and a dynamic Prime Minister (remember that?), the government promised to bring individual prosperity to regions of the UK which had been “left behind”: not just the big cities [...]
Snakes and Ladders: Who is moving jobs in the City this week? November 25, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of the crisis. This week, [...]
Made in Dagenham: Hollywood real estate firm to build new east London film studios November 3, 2020 A Hollywood real estate firm that owns studios where classics such as Citizen Kane and Gone With the Wind were filmed will invest £300m in a major new production complex in east London. Hackman Capital Partners (HCP) will take control of the construction of Eastbrook Studios, a new film and TV hub spread across more [...]
We must find a new way of funding Transport for London September 25, 2020 London without the tube would be like the Shard without any lifts. And, just like the lifts in the Shard, it costs pretty much the same amount of money to run the tube every day, regardless of how many people use it. But unlike the lifts in the Shard (and unlike any comparable metro system [...]
‘No time for a show of virility’: Sadiq Khan on getting London moving again September 7, 2020 One of the largest criticisms of Sadiq Khan over his first mayoral term has been that he is more concerned about his personal PR and with making political gestures than with his job of running the nation’s capital. The mayor of London has been beset by attacks that he has increased spending on City Hall [...]
Sadiq Khan allies claim Number 10 is trying to weaken City Hall August 16, 2020 Allies of Sadiq Khan are worried the government is making a concerted attempt to transfer power away from City Hall. The mayor of London has had a series of conflicts with the government, beginning with a set of conditions placed on a £1.6bn TfL bailout from the government. The terms of the bailout saw Boris [...]
The return to work: Here’s when City firms are going back to the office August 7, 2020 Prime Minister Boris Johnson on Thursday said a strong recovery for the UK economy will require people to have the confidence to return to work at the office. The government is worried that hospitality businesses are being hit hard by people working from home. But London firms have adopted a more cautious approach than the [...]
Office space provider IWG takes £156m hit on coronavirus crisis August 4, 2020 Office space provider IWG announced it will take a £156m hit due to the coronavirus pandemic as it shrinks its portfolio by four per cent amid a home-working boom. IWG’s share price dropped more than five per cent today after it announced it will accelerate its office closure plans due to the Covid-19 crisis, with [...]
Downing Street admits it could impose M25 quarantine ring August 3, 2020 Plans to introduce a quarantine ring around the M25 to halt travel in and out of London are “within the government’s contain strategy”, Downing Street said today. The admission came as the Prime Minister scrambles to curb a spike in infections across the country. Boris Johnson is said to have held a “war game” session [...]