Lardlord AEW presses on with Cineworld legal action despite closures October 8, 2020 Property firm AEW UK is reportedly going ahead with its legal action against beleaguered cinema chain Cineworld over unpaid rents, despite the closure of all of the firm’s theatres in the UK. AEW is suing Cineworld for around £200,000 of unpaid rent. The cinema operator has closed all of its UK and US cinemas after [...]
UK house prices to rise 20 per cent by 2024 October 8, 2020 UK house prices are expected to soar more than 20 per cent by 2024, according to the latest research. Analysis by estate agent Savills found that UK property prices will jump 20.4 per cent in the five years to 2024 Average house prices are expected to increase four per cent this year before stagnating in [...]
Real estate investment trust Home REIT raises £240m through IPO to fund accommodation for homeless October 8, 2020 Home Real Estate Investment Trust (REIT), which is planning to fund accommodation for homeless people across the UK, has raised £240.6m through a stock market listing. Home REIT announced the result of its initial public offering this morning, and will begin trading on the London Stock Exchange on Monday. The investment trust is seeking to [...]
UK property firms refresh boardrooms to survive coronavirus crisis October 7, 2020 UK property firms have overhauled their leadership teams during the last six months as the sector grapples with the fallout of the coronavirus pandemic, according to the latest reserach. Boardroom changes at listed real estate firms have accelerated 46 per cent to 19 in the last six months, up from 13 executive changes during the [...]
UK house prices jump again in September as market defies gravity October 7, 2020 UK house prices rose at the fastest pace in four years in September despite the raging coronavirus pandemic as people working from home sought more space, according to the Halifax house price index. Yet the lender said it is “unlikely” that the British housing market will “remain immune” to the historic economic slowdown. House prices [...]
Banking sector warns against irresponsible lending after PM’s low deposit mortgage pledge October 7, 2020 The banking sector has cautioned against irresponsible lending after the Prime Minister announced plans to help millions of potential buyers onto the housing ladder by allowing low deposit mortgages. Boris Johnson yesterday said he wants to turn “generation rent” into “generation buy” by allowing people to purchase homes with a five per cent deposit. The [...]
Billionaires’ wealth swells to record $10.2 trillion during pandemic October 7, 2020 The world’s billionaires got a whole lot richer during the pandemic, seeing their collective fortunes rocket to a record height of $10.2 trillion (£7.9 trillion) in the height of the coronavirus crisis. The super-rich cashed in on lockdown shopping trends and a V-shaped economic rebound to boost their wealth more than a quarter from April [...]
Investors target UK regional hotels amid staycation surge October 6, 2020 Investors are targeting hotel properties in staycation destinations such as Brighton as the coronavirus pandemic has led to more Britons going on holiday within the UK rather than risking international travel. Interest in coastal and country hotels has spiked due to the increase in holidaymakers deciding to book domestic trips this year, with some locations [...]
Boris Johnson calls on the private sector to rebuild Britain after Covid October 6, 2020 Boris Johnson has vowed a complete post-Covid transformation of Britain that will be driven by the private sector and the free market. The Prime Minister’s Conservative party conference speech outlined the government’s vision of a new Britain by emphasising improved infrastructure, fixing the country’s housing shortage, investing in wind power and increasing skills for young [...]
In full: PM Boris Johnson’s Tory conference speech in full October 6, 2020 Boris Johnson took the stage Tuesday for the Tories’ virtual party conference, announcing policies on 1:1 teaching and low-deposit mortgages, but also promising to unleash the private sector. Here’s the text in full. Good morning conference, I want to begin by thanking you for everything you did at the election, pounding the streets in the [...]