There’s been a huge spike in Americans searching for London property since the US election November 11, 2016 Remember when searches for Irish passports broke the Irish embassy website after Brexit? Well, it seems anti-Trump Americans have set their sights rather further – after property portal Zoopla reported a 45 per cent spike in traffic to its website from the US in the hours after the Presidential election result was announced. According to [...]
American Apparel UK business goes into administration November 8, 2016 Americal Apparel's UK business has gone into administration. Jim Tucker and Richard Beard of KPMG were appointed joint administrators of American Apparel (UK) Ltd and American Apparel (Carnaby) Ltd this morning, the accountancy firm said in a statement. American Apparel (UK) and American Apparel (Carnaby) run the UK retail and wholesale operations of the US [...]
Sweet relief: London rents fell in October November 3, 2016 London rents fell in October, as the capital bucked the trend for the rest of the country. Rents in London fell 0.11 per cent, according to Landbay, but for the rest of England, rents increased by 0.15 per cent. London's most expensive boroughs have had the biggest falls in rent. In Westminster, rents were down [...]
Brexit worries over – Axa ploughs ahead with building the City’s tallest tower October 26, 2016 The construction of the City's tallest building is back on after developers halted progress before the EU referendum. Axa Investment Managers said today that it is committing to the construction of 22 Bishopsgate because London remains "one of the leading global centres for international business, notwithstanding the current uncertainties created by the EU referendum". 22 Bishopsgate will [...]
Theresa May mulling plan to dramatically slash corporation tax to beat a “brutal Brexit” October 23, 2016 Theresa May is reportedly considering a dramatic reduction in corporation tax if she is faced with a “brutal Brexit” in talks with the EU. According to the Sunday Times, May could slash the tax rate from 20 per cent down to just 10 per cent if the UK can't secure passporting rights for financial services [...]
Red tape could stem startup Brexit exodus as tech hits government agenda October 21, 2016 It was just two weeks after the Brexit vote that the city of Berlin sent a billboard van around Shoreditch beckoning London tech firms to move to the German capital. However, firms that took up the offer have found the German city to be lacking London's supportive, tech-friendly environment. From the country that invented the [...]
Bank of England warns: EU cannot replace the City October 12, 2016 London's financial services firms would rather head across the Atlantic to New York than relocate across the Channel if forced to leave London, a Bank of England deputy governor said yesterday, as diplomatic figures suggest that Europe would shoot itself in the foot if it drives a hard bargain with the City over Brexit. Jon [...]
Zoopla’s new offices have a wine cellar and a weird fake swimming pool October 12, 2016 Zoopla has moved into fancy new offices near Tower Bridge which boast a wine cellar, and a swimming pool (which actually seems to be a presentation room). The property portal – which also owns websites uSwitch and PrimeLocation – has taken up a space of 45,000 square feet for its 500 London staff. The company [...]
Housebuilders’ share prices struggle towards the pre-referendum summit after positive outlook from Telford Homes and Countryside October 12, 2016 Telford Homes' share price jumped 4.7 per cent in early morning trading after the company issued a confident trading update, pulling other housebuilders towards their pre-referendum prices. Countryside Properties' shares were also on the up – increasing 3.5 per cent at time of writing – when the housebuilder said any impact from the June referendum had been mitigated. [...]
Massive business rate hikes will be a disaster for growth and investment in London September 29, 2016 Hundreds of thousands of companies across the UK are nervously awaiting today’s release of new property valuation data that will determine how much they will have to pay in business rates. As if the prospect of having their rateable values reassessed after a seven-year gap wasn’t scary enough, government announcements this week create a toxic [...]