Back to 2007: UK house prices rise for every region and buyer type October 18, 2021 It’s a full house for the UK home buying market, with property prices rising last month in every region of the UK, London included, and for buyer types ranging from first-timers to those at the wealthiest rungs of the property ladder. In London, the average property price hit £650,683, up another 1.9 per cent on [...]
Tech industry jargon is full of hot air and keeps public valuations sky-high October 15, 2021 It was the presentation that cost £1.85bn. On Tuesday morning, Matt Moulding, the CEO and founder of The Hut Group, addressed his shareholders, attempting to reverse a precipitous slide in the company’s share price. It didn’t go well. Just hours after his presentation ended, the firm had lost another third of its value. The Hut [...]
Marshall Motor buys rival Motorline for £64.5m October 14, 2021 Marshall Motor has bought rival Motorline for £64.5m, signalling new partnerships with car brands. The automotive retail group said it had also separately acquired a related freehold property for £2.9m and has the option to acquire two additional strategic freehold properties for £24.9m. The net assets on acquisition of Motortline – which represents ten brands [...]
DOT takes lead as Bitcoin recovers, but retail market still yet to join party October 14, 2021 A swift recovery for Bitcoin has seen the price of the largest cryptocurrency climb back to more than $57k, having briefly dropped below the $55k mark yesterday.
Top industry brass press Sunak on business rates overhaul October 14, 2021 The UK’s top business groups who represent over 9m workers are pressing Chancellor Rishi Sunak to overhaul the business rates regime. The Confederation of British Industry (CBI), alongside 41 trade associations acting on behalf of 261,000 businesses, have called on Sunak to reduce the burden of business rates on firms at this month’s budget to [...]
Netflix signs for new production site in Enfield October 13, 2021 Netflix has agreed a lease to open a major new production site in Enfield, north London. The streaming giant has agreed to take on space from landlord Segro, which will include a “campus style occupancy” with sound stages, studios and areas for make-up and costumes. Netflix’s vice president of physical production for the UK, Anna [...]
City Moves: Who’s switching jobs in the Square Mile today? October 13, 2021 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. Riverstone Property developer Rivertsone has hired a new Chief Experience Officer who will help ensure a smooth experience for its over 65s residents in Kensington and Fulham. Greg Mace joins as the firm readies itself for new developments, [...]
M&A cash: Uncertainty and reduced leverage capacity make it harder to finance takeovers October 12, 2021 One of China’s biggest property developers, Evergrande, has come under mounting pressure in recent weeks to repay investors and bond holders on the back of three missed payments on over $300bn of liabilities. This potential default has triggered fears across global markets that investors will not get their money back. It has also had an effect on [...]
OnTheMarket lifts profit expectations on the back of strong interim results October 12, 2021 The company behind property search website OnTheMarket.com saw profits soar in the first half of FY21 amid strong interest. The company saw revenues climb to £14.9m in the first half of the year, an increase of 46 per cent compared to the same period in 2020, while adjusted operating profit soared by 163 per cent [...]
It’s time to break the social housing stalemate and build affordable homes October 12, 2021 When you’re losing in a game of chess, you try to end it with a stalemate: no one wins and no one loses. The game ends in a draw. The social housing system in the UK finds itself exactly in this position. The difference is that someone is losing: the scores of families stuck on [...]