The first flat in Battersea Power Station is now complete – we take a look inside November 15, 2019 Plenty of property developers try to brand their latest apartment block as ‘iconic,’ which, nice as many of them are, is usually a bit of a stretch. The redevelopment of Battersea Power Station into 253 luxury flats and a new headquarters for Apple doesn’t have that problem, however. Other than a three-year hiatus from 2015 [...]
New build homes drive UK housing supply increase November 14, 2019 UK housing supply soared in the year to the end of March driven by an increase in the number of new homes being built. There were 241,130 net additional dwellings, up nine per cent on the previous period, with new build homes accounting for 213,660. Read more: UK house prices enjoy sharp annual growth Change [...]
Has WeWork destroyed SoftBank’s credibility? November 13, 2019 By John Colley at Warwick Business School Why is Japanese investment firm SoftBank investing a further $8 billion into WeWork, even though the office rental company is now valued at just $8 billion, and buying out founder Adam Neumann at a further cost of $1.7 billion? Forgetting SoftBank’s previous sunk investments in WeWork – which [...]
London house prices suffer UK’s biggest September drop November 13, 2019 House prices in London suffered the biggest September drop in the UK, according to the latest data. Homes in the capital fell 0.4 per cent year on year that month, compared to house prices’ average increase of one per cent in England. That left London house prices with an average value of £474,601. UK house [...]
Student property developer Crosslane targets London co-living market November 12, 2019 Student property provider Crosslane has moved into the co-living market with a £355m pipeline as it eyes three new developments in London. Crosslane Co-Living has secured sites in Walthamstow, east London and Manchester’s Deansgate to build 366 new rooms over the next two years. The rental model, which is aimed at millennials, sees tenants rent [...]
Landsec swings to first-half loss after retail property values plunge November 12, 2019 Landsec swung to a pre-tax loss in the first half of the year after the value of its retail and leisure assets suffered in an increasingly challenging market for tenants. The figures The company reported a pre-tax loss of £147m, compared to a profit of £42m the previous year, resulting in a loss per share [...]
Novartis agrees Aspen generics acquisition for €400m November 11, 2019 Swiss drugmaker Novartis announced today that it will buy Aspen Pharmacare’s Japanese generics unit in a deal worth up to €400m (£343.8m). The deal, which will expand Novartis’ presence in the world’s third-largest drug market, will include a €300m upfront payment, with a deferred amount not higher than €100m to follow on completion of various [...]
Kier Group shares plummet as broker lowers target price to £1 November 11, 2019 Kier Group shares fell nearly nine per cent this morning after a note by broker Jefferies lowered its recommended price to 100p. The construction group’s stocks have been hovering around 100p for five months, since it announced it would be making 1,200 people redundant in June, and that it would look for a buyer for [...]
Floating on Airbnb: We meet the founder who is taking the hassle out of hosting November 11, 2019 When James Jenkins-Yates rented out his London home via Airbnb while he went on holiday to Rome, it was a complete disaster. “Everything went wrong,” he tells me. “I had three back-to-back bookings over the week and guests were everywhere — I received calls at 3am, one guest couldn’t get in through the gate, cleaners [...]
DEBATE: Are there any benefits to the rise of renting? November 11, 2019 Are there any benefits to the rise of renting? Anne-Marie Brown, founder and chief executive of Love to Rent, says YES. While the UK has traditionally been a nation of homeownership, more people are choosing to rent, and the profile of renters is changing too, with more families and retirees looking for a stress-free alternative. [...]