Hackney’s London Fields Brewery brought to the market after Carlsberg Marston’s close taproom February 28, 2022 East London brewery London Fields Brewery has been brought to the market by property consultancy Gerald Eve. Situated under Hackney’s railway arches the brewery was closed just four years after Carlsberg Marston’s Brewing Company snapped it up. The brewing titan’s CEO Paul Davies said at the end of last year the firm had “taken the [...]
Michael Gove calling for UK to seize London homes of Russian oligarchs February 27, 2022 Michael Gove has told cabinet colleagues that the government should seize lavish London properties that are owned by Kremlin-linked oligarchs in the wake of Russia’s invasion of Ukraine. The housing secretary told a cabinet meeting on Thursday that more action was needed to clamp down on Russian dirty money being used to buy property in [...]
Saturday Sitdown: Mortgage guru Colin Bell on why Brits are ready for 50 year fixed rates February 26, 2022 Following the Bank of England’s recent interest rate rise and all the implications it has for the property and mortgage market, one firm is offering loans at a 30 year fixed rate, with plans to offer 40 and 50 year fixes in the near future. Sold as a massive lifestyle enabler and gives people much [...]
City Moves: Who’s switching jobs in the Square Mile this week? February 25, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. BDO Accountancy and business advisory firm BDO has further strengthened its tax expertise with the appointment of two new partners. Joining the firm in London from Leyton, Radeep Mathew is set to focus on advising clients on issues around R&D [...]
UK home sellers overprice their properties by as much as 21 per cent in wake of stamp duty holiday February 24, 2022 Rightmove revealed yesterday that asking prices saw their biggest monthly increase in over 20 years. Despite a property market boom, the gap between the asking price expectations of the nation’s sellers and what buyers are willing to pay is as big as 21 per cent in some areas of the market, according to data shared [...]
Look inside: London’s smallest flat sold at auction for £90,000 February 24, 2022 London’s smallest flat sold at auction on Wednesday for £90,000, well above the guide price for the 75 sq ft property. Located on Saratoga Road, Hackney, the property – images of which were shared around Twitter in the days before the auction – sold for 20 per cent over its guide price of £75,000. The [...]
WPP swings from £2.2bn loss with ‘fastest organic growth for over 20 years’ February 24, 2022 WPP has swung from the eyewatering £2.2bn loss it swallowed in 2020, pulling in £1.2bn in profit last year. In what CEO Mark Read has hailed as WPP’s “fastest organic growth for over 20 years”, the technology, media and communications heavyweight has returned more than £1bn to shareholders, it said in its preliminary results today. [...]
Buyers’ demand for Bath hots up after Netflix series Bridgerton February 23, 2022 Demand for homes in cathedral cities has been hotting up among overseas buyers, with house-hunters enticed by the Netflix series Bridgerton. According to data from estate agent Winkworth, demand and prices for cathedral cities are 20 per cent higher than other locations. For the city of Bath, where the Regency era romance series Bridgerton was [...]
Camden and Chelsea among London areas to see biggest rent increases February 23, 2022 Average London rents are predicted to grow 14 per cent over the next five years, according to data exclusively shared with CityA.M. Desirable areas including Kensington and Chelsea, City of London, Camden and Hammersmith and Fulham saw the largest rental increases, with prices jumping around a third for each borough. Data from CBRE found that [...]
London rents exceed pre-pandemic levels with average weekly rent £751 February 23, 2022 Rents in the capital have soared as Covid restrictions have eased, with the average weekly rent now standing at £751. Data from estate agency Chestertons has found that the average rent has soared 21 per cent since 2020 when the average cost for renters was £589. Demand has increased thanks to renters returning to the [...]