West End: Shaftesbury investor raises concern with £3.5bn merger with rival Capco May 15, 2022 Concerns have been raised over West End landlord Shaftesbury’s planned £3.5bn merger with rival Capital & Counties Properties (Capco), by a key investor. Shareholders could be left worse for wear, Chris Hills, chief investment consultant at Investec, which has a 1.65 per cent stake in Shaftesbury, told The Times. As Shaftesbury trades at just an [...]
Grainger: UK’s largest listed landlord sets aside £9.2m for fire safety remediation May 12, 2022 The UK’s largest listed residential landlord has taken a £9.2m provision to fix historic fire safety defects. The build-to-rent developer was not asked by the government to sign up to the building safety pledge, however reviewed its estate in a similar fashion. Speaking to CityA.M., CEO Helen Gordon said the company had “mirrored” housebuilders and [...]
Coinbase attempts to ease user concerns over bankruptcy alarm May 12, 2022 Coinbase is attempting to ease customer nerves following claims users would lose all their money if the platform went bankrupt.
Top City bosses should face jail over failures to prevent economic crime, cross-party MPs say May 12, 2022 MPs today called for a crack down on “dirty money” as they argued City bosses should face jail if they fail to prevent illicit cash from flowing through the UK’s financial system. In launching an Economic Crime manifesto, the cross-party MPs said the UK and its overseas territories have played a key role in enabling [...]
‘You can’t catch a break’: Leaseholders face high insurance fees amid cost of living crisis May 12, 2022 Leaseholders have said soaring building insurance fees amount to “daylight robbery,” amid the City watchdog’s probe of the market. The Financial Conduct Authority (FCA) was asked to review the insurance market for blocks of flats earlier this year, after housing minister Micheal Gove said he was “extremely concerned” by accelerating costs faced by leaseholders. In [...]
House price inflation surge shows ‘little’ signs of slowing May 12, 2022 There is “little evidence” to show house price inflation will slow down as prices continue to be driven by historically low stock levels. Despite warnings of a recession on the horizon, current property activity continues to be buoyant, according to the latest RICS Residential Market Survey. Its April survey found that supply of homes on [...]
Property heavyweight slams housing reforms in Queen’s Speech: ‘Nothing new – simply old policies re-hashed’ May 11, 2022 The Queen’s Speech will do little to solve Britain’s housing crisis, a leading property association shared with City A.M. this morning. There were three main commitments linked to housing in the Government’s announcement; the Renters’ Reform Bill which will end unfair evictions; the Social Housing Regulation Bill which will give tenants more rights and vital [...]
Insurance brokers could face caps on commissions as FCA reviews high rise insurance market May 10, 2022 Insurance brokers could face rules limiting commissions amid the City watchdog’s review into tower block insurance coverage. The Financial Conduct Authority (FCA) was asked to review the insurance market for blocks of flats earlier this year, after housing minister Micheal Gove said he was “extremely concerned” by accelerating costs faced by leaseholders. In an update, [...]
Legal & General sells all properties under Bishopsgate Property Fund to £500m tune May 9, 2022 Legal & General’s asset management arm has sold all properties held by Bishopsgate Property Fund for just under half a billion pounds. Legal & General Investment Management Real Assets (LGIM Real Assets) revealed it had sold all sites for £474m, on behalf of the joint venture partnership with PGGM and Legal & General Capital (LGC). [...]
Aussie investors are poised for a UK green investment splurge, says National Australia Bank exec May 9, 2022 Australian firms are readying a further splurge of investment into the UK to capitalise a boom in renewable energy and infrastructure projects, according to a top National Australia Bank executive.