Assura to raise £190m after 58 per cent rise in profits November 11, 2021 Healthcare property investor Assura is continuing its portfolio expansion plans with a proposed £190m equity placing. The proceeds will fund the company’s short term property pipeline which includes £72m for on-site developments and £102m in acquisition opportunities. This follows the company reporting a 58 per cent increase in profit before tax in its interim results [...]
Nine Elms: Luxury residential tower in Thames City struggles to find buyers November 11, 2021 A residential tower at the centre of the Thames City development in Nine Elms has reportedly struggled to find buyers for its luxury apartments. The skyscraper has sold less than one in 15 homes in its first year of marketing, The Telegraph first reported. The developers have since pointed out to City A.M. that only [...]
London’s drinking: Capital on the way back as Young’s toasts a healthy recovery November 11, 2021 Pub chain Young’s announced it would restart its dividend this morning after a healthy set of half-year results suggested the historic operator’s recovery is well on the way. Adjusted operating profit hit a healthy £27.1m in the six months to the end of September despite ‘lockdown’ and later restrictions on numbers still being in place. [...]
Aviva life sales jump to £25bn, boosted by record savings and retirement inflows November 11, 2021 Aviva’s life sales have jumped to £25.3bn in its latest quarter, which has been boosted by “record” inflows in its savings and retirement division, the firm’s boss confirmed today. The insurer secured £7.3bn worth of savings and retirement funds in its third quarter, which CEO Amanda Blanc said signals “excellent” progress in its post-shakeup growth. [...]
Only 37 properties on estate agents books: Lack of homes is pushing up house prices November 11, 2021 Despite an overall net balance of 10 per cent of property professionals reporting an increase in new buyer inquiries, estate agents only have 37 properties on their books on average, down from around 42 in March, the Royal Institution of Chartered Surveyors warned this morning. A growth in inquiries from house-hunters in October is yet [...]
Utility Warehouse pays £1.5m to Ofgem fund after failing customers in debt November 10, 2021 Utility Warehouse has agreed to pay £1.5m for treating some of its customers unfairly, and increasing their financial distress. The money will go into Ofgem’s voluntary redress fund, which supports vulnerable customers and finances innovation in the sector. The energy supplier has accepted it failed to consistently provide debt repayment plans to struggling customers from [...]
Breaking £370k mark: Average UK house price expected to jump by £40k within the next five years November 10, 2021 The average house price across Britain is expected to break through the £370,000 mark within the next five years, as property prices may rise by more than £40,000. Giving its predictions up to 2026, Savills predicts that the typical property value will increase from £327,838 in 2021 to reach £370,785. The property group expects the [...]
Chelsea top buyer market amid stock lows November 10, 2021 Chelsea is the top buyer market at the moment as the country continues to experience a historic low of property stock. Around just one in every ten Chelsea properties for sale are marked as sold subject to contract, according to Rightmove. Seven out of the top ten buyer markets are all in London, while the [...]
Prime central London growth forecast to outperform other areas November 9, 2021 Property group Savills has forecast Prime central London to grow eight per cent in 2022 as wealthy international buyers flock back. The market is anticipated to grow 23.9 per cent over the next five years while prime outer London will see a hike of 13.7 per cent. Growth in the market has been subdued because [...]
London hotels ‘can’t change the bedsheets fast enough’ as staff shortages hold back recovery November 8, 2021 The recovery of London hotels is being held back by staff shortages, with venues unable to change bedsheets quick enough. One London hotel has had to slash occupancy in the week so it has enough staff on board for its popular Saturday night bookings. “They literally can’t change the beds fast enough – is it [...]