Park Plaza operator PPHE looks forward to strong trading when hotels reopen April 29, 2021 Hotel chain PPHE, which operates the Park Plaza brand, said it expects demand to bounce back when restrictions on tourism are lifted. The firm said total revenue in the first three months of 2021 had plummeted 89.6 per cent to £5.3m, due to the ongoing impact of coronavirus restrictions. However PPHE said it had been [...]
City fund managers discuss post-pandemic opportunities, with NatWest, Lloyds and BP topping the list April 28, 2021 As the economy slowly recovers from what has been a dramatic year, and investors gradually dare to think again about growth and investment, City A.M. checked in with a number of prominent Square Mile-based fund mangers to find out where they spot opportunities as London’s investment community starts to shake off the pandemic. Banking, energy [...]
What is the post-pandemic outlook for Asian shares? April 28, 2021 Despite the global turmoil caused by the Covid-19 pandemic, stock markets were generally strong in 2020 and the Asia ex Japan region was no exception. Indeed, in many ways the region was first into the pandemic and first out, with successful containment of the virus in many countries enabling economic activity to resume more quickly [...]
Spotify earnings: Is the music streaming giant facing a subscriber lag? April 28, 2021 Spotify will be in the spotlight this afternoon as it reports its first-quarter figures, with all eyes on the streaming giant’s subscriber numbers. The Swedish music platform enjoyed a bumper year in 2020, with paid subscribers hitting 155m thanks to higher demand for music and podcasts during the pandemic. But Spotify warned that pace of [...]
London only UK region to report drop in rent prices over last five years April 28, 2021 The capital is the only region in the UK where rents have fallen over the last five years as Londoners have left the city during the pandemic and fewer young professionals have moved for work. Asking rents in almost two thirds – 65 per cent – of London neighbourhoods are lower than they were five [...]
House prices: Which central London postcodes offer the most open space? April 27, 2021 The W1K postcode of Mayfair and St James’s is the greenest pocket of the prime central London market, according to new research that looked at which London postcodes present high-end homebuyers with the most open space. An estimated 36.5 per cent of the postcode area presents open outdoor spaces, by far the most of all [...]
Home buyer demand doubles property sales to £149bn this year April 27, 2021 A surge in home buyer demand has resulted in £149bn worth of properties being sold so far this year, double the value in the same period in 2020 and 2019. According to the latest research, one in every 50 homes was sold between 1 January and 15 April, up from one in every 100 homes [...]
City Corporation unveils action plan to be world’s most innovative, inclusive and sustainable centre April 27, 2021 The Square Mile must adapt to post-pandemic economic and social trends in order to remain a world-leading ecosystem, according to a new report published today by the City of London Corporation. The Square Mile: Future City, produced by the City Corporation’s Recovery Taskforce inpartnership with Oliver Wyman, sets out a vision for the next five [...]
Westfield unveils updated plans for £1.3bn White City residential scheme April 26, 2021 Westfield has revised its planning application for a £1.3bn residential scheme in White City, adding several hundred new homes to the proposals. The proposed scheme will include up to 1,760 new homes, up from the 1,093 granted planning permission in 2017, and will also involve the construction of a 1.4 acre public space and new [...]
More UK home sellers are getting above asking price than at any time since Brexit vote April 26, 2021 The number of UK properties that sold for more than the original asking price jumped to the highest level in more than six years last month. The latest research showed that 16 per cent of homes sold for more than their initial price tag in March, compared to 11 per cent in February. This is [...]