London first-time buyers undeterred by Covid and rising house prices January 25, 2021 First-time buyers in London were largely undeterred by the coronavirus pandemic and rocketing prices last year, the latest research found. London’s first time buyer figured dipped six per cent in 2020 as the housing market was closed for months during the first national lockdown. However the slump was the lowest in the capital compared to [...]
Striking a chord: How music rights firms serenaded the stock market January 23, 2021 Anyone who has the misfortune to monitor news updates on the London Stock Exchange will know the name Hipgnosis. Less than a month into 2021, the gauchely-named company has already issued nine wordy announcements. They are not, however, the usual trading updates or dry regulatory disclosures. Instead, Hipgnosis has been on a relentless acquisition spree [...]
When it rains, it pours: Storm Christoph strikes up to £120m of insurance damage across the UK January 22, 2021 UK insurance losses could reach up to £120m in the wake of Storm Christoph with Wales hit the hardest, according to a PwC insurance leader. Residents have been forced to leave their homes and a major incident declared in Wales after enduring the highest rainfall of the four UK nations. Around 80 people, including care [...]
London developer extends stamp duty holiday to October January 21, 2021 London developer Galliard Homes has extended the stamp duty holiday by six months, with the property company footing the bill. The company has extended the holiday to 1 October, while the official government tax break ends on 31 March, amid industry-wide calls for the deadline to be delayed. Galliard Homes said the extension, which applies [...]
Landlord New River bucks trend to collect majority of retail rents January 21, 2021 Commercial landlord New River has bucked the high street trend and collected the majority of rent due in December due to the high number of essential retail tenants in its property portfolio. The real estate investment trust (REIT) said it had received 70 per cent of retail rents due for the fourth quarter, with 10 [...]
Countryside Properties makes progress with separation of housebuilding division January 21, 2021 Countryside Properties is making progress with the separation of its two divisions after a strong performance in the first quarter. The FTSE 250 firm said trading in the three months to 31 December was in line with expectations and is 80 per cent forward sold for the year. Total completions are up 17 per cent [...]
Sunak under pressure to extend stamp duty holiday as tax break sparks housing market boom January 21, 2021 Housing transactions boomed at the end of last year driven by buyers rushing to complete deals before the stamp duty holiday deadline, putting pressure on government to extend the tax break. UK residential transactions in December were 31.5 per cent higher than the previous year, and jumped 13.1 per cent compared to November, buoyed by [...]
TfL gets go-ahead for 852 new homes in Acton January 21, 2021 A new development in Acton has been given the go-ahead by Ealing Council, and will provide 852 new homes for rent and sale in the area. The development covers a 3.6 hectares site and spans from Acton Town station to the level crossing towards Chiswick, TfL’s largest development to date. The new homes will be [...]
Jack Pot: Arrests made after huge cannabis farm discovered in Square Mile January 20, 2021 City of London Police have made two arrests after discovering a huge cannabis factory in the basement of a commercial property in the Square Mile. The 826 plant farm was the first cannabis factory ever found in the City, with the unusually quiet streets of the financial district providing a discreet location. However police were [...]
City Moves for 20 January: Who is switching jobs in the Square Mile this week? January 20, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Real estate and construction companies appear to be bustling in the capital with new projects and appointments across the UK. This week, Cromwell, Redrow and Savills boosted their firms with new appointments and [...]