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 [...]
Trevelyan hits out at ‘unfair trading practices’ in swipe at China October 11, 2021 The UK’s new international trade secretary will tomorrow hit out at countries engaging in “unfair trading practices” in an apparent attack on China. Anne-Marie Trevelyan will use her first G20 trade meeting in Sorrento, Italy to say “we will not allow British businesses who play by the rules to be damaged and undercut by market-distorting [...]
German investors plug £847m into City property October 11, 2021 German investors have injected £847m into property in the Square Mile so far this year. This is the second-highest level invested into properties in the City of London since 2013, the Telegraph newspaper reported. One in five property transactions in the City were carried out by German investors in the year to mid September, according [...]
An update from Fund Manager of Aberdeen Standard European Logistics Income, Evert Castelein October 11, 2021 To watch the update video in full, visit: https://doceo.tv/funds/aberdeen-standard-european-logistics-income In the latest video from fund manager Evert Castelein, he discusses the opportunities within the European logistics market, provides us with an overview of this property portfolio, updates us on performance and announces a £75m capital raise. Visit the page to also watch Evert’s three minute [...]
Buy-to-let and partnerships power LendInvest portfolios in first results since IPO October 11, 2021 In its first update since going public, property finance asset manager Lendinvest has reported a 31.7 per cent increase in assets under management and a 39.8 per cent increase in funds under management. The growth was caused by record originations in buy-to-let (BTL) as well as new transactions and financial partnerships – including the £100 [...]
Big-money London property sees bumper 2021 October 11, 2021 Some 352 £5m-plus transactions have completed this year already, more than in the entire years of 2020 and 2019. That includes 94 homes selling for more than £10m. Nearly half of all sales were in Chelsea, Kensington, Belgravia, Notting Hill and St. John’s Wood. Savills, which compiled the data, said the market had predominantly been [...]