Shoe retailer Clarks calls in consultants amid store closure fears November 24, 2019 Struggling footwear retailer Clarks has called in management consultants to conduct a review of the business. The family-owned business, which this month reported an £82.9m loss after tax for last year, has reportedly hired McKinsey & Co as it plots a restructuring plan amid fears of store closures. Read more: Taking the shine off: Clarks [...]
General Election 2019: Labour pledges 20 per cent property tax for foreign buyers November 23, 2019 Labour has pledged to put an extra 20 per cent levy on foreign companies buying property in the UK. The party has said it would charge firms and trusts from abroad looking to buy properties an additional 20 per cent on top of existing stamp duties and surcharges. Read more: General Election 2019: Jeremy Corbyn [...]
Property focus on Sloane Square: This 1980s hotspot is experiencing a revival November 22, 2019 It may be famed for being the social epicentre for the young and blue-blooded in the 1980s, having lent its name to the Sloane Ranger set which included Princess Diana and Sarah Ferguson. But the area around Sloane Square is now getting a modern makeover – and vying with other parts of Chelsea and Mayfair [...]
General Election 2019: Tories to up stamp duty for non-UK residents November 22, 2019 Foreign residents will be slapped with a higher rate of stamp duty than UK home-owners under a Conservative government, as part of efforts to tackle the country’s housing crisis. A three per cent surcharge will be levied on companies as well as individuals buying property who are not UK tax residents, the Tories will announce [...]
Retail landlord New River REIT swings to a loss on weak investor sentiment November 21, 2019 Property landlord New River REIT swung to a loss in the first half of the year as its portfolio valuation sank due to weak investor sentiment in the retail sector. The FTSE-250 real estate investment trust, which focuses on retail and leisure properties, reported a loss of £21.3m from a profit of £2.7m last year. [...]
Revealed: These are buyers’ top priorities when looking for their next home November 21, 2019 UK house hunters consider a car parking space and a garden to be the top priorities when searching for a new home, according to new research. “Garage” and “parking” were the first and third most searched terms online by potential property buyers. Read more: London house prices suffer biggest annual drop in England Meanwhile, “garden” [...]
Sir Philip Green’s Arcadia confirms new chairman November 21, 2019 Sir Philip Green’s fashion group Arcadia confirmed this morning that it has appointed the former boss of the De Vere hotel and leisure group as its new chairman. The embattled retail firm has drafted in Andrew Coppel, who currently sits on the board of housebuilder MJ Gleeson. Read more: Hammerson continues retail property spree Coppel [...]
Ex-De Vere boss Andrew Coppel to be appointed as Arcadia chairman November 20, 2019 Sir Philip Green’s Arcadia Group is preparing to appoint the former boss of the De Vere hotel and leisure group as its new chairman. The appointment of Andrew Coppel, who currently sits on the board of housebuilder MJ Gleeson, is expected to be announced tomorrow, Sky News reported. Read more: Arcadia bolsters senior digital team [...]
Poll: UK house prices won’t match low inflation until 2021 November 20, 2019 UK house prices will not match low inflation until 2021 and are set to fall in London this year as buyers are put off by continuing Brexit uncertainty, according to new research. House prices in the capital will fall 1.5 per cent this year and only hold steady in 2020, a poll by Reuters found. [...]
City Moves for 20 November – Who’s switching jobs at Allsop, Baker McKenzie and Saga? November 20, 2019 Today’s City Moves includes Allsop, Baker McKenzie and Saga Allsop Leading property consultancy Allsop has appointed Jamie Hopkins to its board as non-executive director. Jamie is the former chief executive officer of Workspace, a leading provider of business space, having served in the role since 2012. Scott Tyler, senior partner at Allsop, said: “We are [...]