GPE injects £1.1bn into ‘starved’ London office market despite sinking values November 17, 2022 GPE, formerly known as Great Portland Estates, is continuing to inject £1.1bn into feeding a “starved” central London office market despite blows from rising interest rates. The London-listed firm, which yesterday secured a record leasing of the City’s 2 Aldermanbury Square to Clifford Chance, is one of the largest office leasers in the capital. However, [...]
Web3 metaverse growth is exponential November 17, 2022 Dr Chris Kacher explains how the community around a platform can co-create enabling the platform ecosystem to grow even stronger.
Crest Nicholson halts opening of new division as forward sales slow November 17, 2022 British housebuilder Crest Nicholson has halted the opening of its third new division as interest rates dampen the desire to buy a home. The FTSE250 housebuilder is not the first to voice caution over rising rates, which have pushed up mortgage costs for many – deterring Brits from jumping onto the property ladder. Forward sales [...]
Joules appoints administrators amid ‘overwhelming’ interest from suitors November 16, 2022 Administrators were appointed for beleaguered lifestyle retailer Joules on Wednesday, with some 1,600 staff members at risk. Will Wright, Ryan Grant and Chris Pole from Interpath Advisory were appointed joint administrators for the high street firm, which has struggled with a slowdown in sales. Administrators from Interpath were also appointed for its developments arm and [...]
Digital Assets Week: A ‘DAW’ to the future November 16, 2022 Lord Holmes reports on an opportunity to share the current approaches being undertaken by the UK Government on crypto regulation.
Clifford Chance to leave Canary Wharf HQ for new City offices November 16, 2022 Clifford Chance is set to return to the City after striking a deal to leave its Canary Wharf headquarters in 2028. The Magic Circle law firm has struck a deal with Great Portland Estates (GPE) to rent 321,000 sq ft of office space at the property developer’s 2 Aldermanbury Square project, which is set to [...]
British Land portfolio value dwindles as economic downturn weighs on real estate November 16, 2022 British Land, one of the largest property trusts in the UK, has had its portfolio value dwindle in the past six months as the economic downturn weighs on real estate. The London-listed group reported underlying profit growth of more than 13 per cent to £136m. However, its portfolio value sank three per cent, dragged by [...]
Landsec books nearly £200m loss as it shrinks presence in London November 15, 2022 British property investment trust Land Securities, known as Landsec, has booked a nearly £200m loss over the past six months as interest rates sting. It follows a £275m profit in the same period last year, as the company retreats out of London. Landsec, one of the largest office leasers in London, has cut the capital’s [...]
Joules calls in administrators as rescue talks collapse November 14, 2022 Fashion and lifestyle firm Joules announced it had called in administrators and suspended trading on the London Stock Exchange this morning after emergency rescue attempts failed last week.
Not a good Monday for home sellers as UK house prices dive by £4k+ in just one month November 14, 2022 The average price tag on a home fell by more than £4,000 in November compared with the previous month, according to new industry figures released this morning. Across Britain, the average price of a newly marketed home in November is £366,999, Rightmove said. The £4,159 drop in the average asking price compared with October equates [...]