£222m takeover of Hawthorn pubs by Admiral Taverns faces competition probe September 28, 2021 The UK competition regulator said this afternoon it is leaning towards launching a probe into Admiral Taverns’ £222m takeover of the Hawthorn pub business. Admiral sealed a deal to buy the pub estate, which covers 674 venues across the UK, from the retail property investor NewRiver, in July. The move will strengthen Admiral’s position as [...]
Beijing orders state-owned companies to hoover up Evergrande assets to avoid social unrest September 28, 2021 Beijing has ordered state-owned companies to buy heavily indebted Chinese property developer Evergrande’s assets. The asset purchases are intended to dampen the impact of a messy Evergrande collapse sparking mass social unrest, according to reports in Reuters. Evergrande is estimated to have $305bn of liabilities on its books, caused by it borrowing heavily to fuel [...]
Joy for landlords as renter demand causes stock surplus to evaporate September 28, 2021 A stock surplus in properties available to rent has started to disappear, as demand from tenants is on the up. The rental market stock surplus is now at a lower level than before Covid hit, according to research from buy-to-let specialist, Sequre Property Investment. The level of stock surplus climbed when the pandemic hit in [...]
Property: London house prices climb by £36 every single day September 28, 2021 House prices rose by £44 per day on average in the six months leading up to August, according to new figures published this morning. In London, that figure stood at £36 per 24 hours. This was up from £30 per day typically over the previous six months (July 2020 to January 2021), Zoopla said. Across [...]
Demand to buy in London soars thanks to office return September 28, 2021 Demand for homes in London has risen 14 per cent over the last month as Brits rush back to the office. Prospective Londoners appear keener to purchase homes rather than flats, with homes marking an increased demand of 25 per cent compared to a six per cent boost for flats. Average UK house prices have [...]
US markets slide on tech companies despite 3 year high for oil September 27, 2021 In the US both the S&P 500 and the Nasdaq indexes took a tumble from their previous close prices as technology companies spearheaded losses. The S&P 500 was down 0.28 per cent at the open despite a standout performance by energy stocks on the back of surging oil prices. Occidental Petroleum Corp jumped by 7.86 [...]
Exclusive: UK electric car market in top speed as sales jump 186 per cent during pandemic September 27, 2021 Electric car sales in the UK have jumped by 186 per cent to 108,000 in 2020, up from just 38,000 in 2019, according to a new study, shared exclusively with City A.M. this morning. This growth is six times higher than the average sales growth of electric cars globally at 31 per cent in 2020, putting [...]
Labour to launch taskforce into ‘dirty money’ in the City : CityAM September 27, 2021 Labour will set up a taskforce into “dirty money and ill-gotten gains” that have been laundered in the City of London, Lisa Nandy has announced. The shadow foreign secretary told the Labour party conference this morning that the Taskforce on Illicit Finance will aim to make the UK “the most inhospitable place in the world” [...]
Home buyers paying premium of up to £40k on energy efficient houses – CityAM : CityAM September 27, 2021 Home buyers wanting to settle down in the top energy efficient homes face prices of up to £40,000 more than less sustainable options. Environmentally aware home buyers are willing to pay a ‘green premium’ as homes in all parts of England and Wales sell for a higher price depending on the quality of their energy [...]
Undecided about investing right now? Find out why Maida Vale offers a solid prospect September 27, 2021 Set at the meeting point of Maida Vale, Little Venice and St John’s Wood is Lyons Place, a boutique development by Almacantar, offering a prime opportunity for investment in the capital. Lyons Place is a collection of contemporary, finely crafted homes comprised of apartments, penthouses, and three-storey townhouses – with just one one-bedroom apartment remaining [...]