Real estate tech company Blueground launches in London October 23, 2019 Blueground, a startup providing tech-driven flexible apartment rentals, is launching in London and has raised $50m (£39m) in a funding round. The real estate tech firm offers Airbnb-style apartment rentals aimed at business travellers, offering rental lengths of one month or longer. Read more: Exclusive: Flexible office space firm Central Working falls into administration Blueground, [...]
AIG eyes wealthy clients after launching new syndicate at Lloyd’s of London October 23, 2019 Lloyd’s of London has been given a major boost today after American International Group (AIG) revealed plans to set up its new high-end business at the historic marketplace. AIG is launching a syndicate at Lloyd’s of London aimed at serving the specialist US high net worth market in a move that it said could generate [...]
Let’s take a closer look at Neil Woodford’s dubious investment decisions October 23, 2019 The man with the Midas touch. That was how people saw Neil Woodford only a few short years ago. But things didn’t work out that well for King Midas in the end, and the same can be said for the former star manager, whose reputation is in tatters and whose investment empire now set to [...]
UK commercial property rental values boosted by office and industrial sector October 22, 2019 Rental values in the UK prime commercial property market rose slightly in the third quarter driven by a strong performance in the industrial sector. UK commercial property values were up 0.4 per cent as industrial and office rental values increased 1.7 per cent. Read more: Sharp rise in property values for UK’s top shared office [...]
Shard Times at the Shangri-La October 22, 2019 The Shangri-La hotel at the top of the Shard has revealed it booked a £56.2m pre-tax loss last year, driven by an impairment charge from writing down the value of its assets following years of weak results. Occupying floors 34 to 52 of the Shard, it is the tallest hotel in western Europe and swung [...]
UK house prices suffer slowest October rise since 2008 October 21, 2019 Prospective home buyers have been undeterred by the approaching Brexit deadline, while sellers have been put off by ongoing uncertainty over UK house prices, according to Rightmove. The price of property coming to market has seen its lowest monthly rise at this time of year since October 2008. Prices are up 0.6 per cent this [...]
Industrial real estate funds to double inflows October 21, 2019 Global industrial real estate funds could double the amount they raise this year as investors target warehouse and logistics assets. Research showed that specialist industrial property funds are projected to raise $6.4bn in 2019, up 120 per cent from inflows of $2.9bn last year driven by the yield available on logistics property. Read more: Land [...]
Capital & Counties share price climbs as property tycoon Nick Candy eyes bid October 21, 2019 Shares in Covent Garden owner Capital & Counties jumped this morning after high-end property tycoon Nick Candy confirmed he is considering a possible offer for the group. Candy Ventures, the investment vehicle owned by Nick Candy, has said it is in early talks for a possible cash off for Capco, which has a market value [...]
Bottle Opener October 21, 2019 City A.M.’s wine expert offers his pick of the best bottles around Being the reliably stereotypical British chap I am, I know far more about French wines than I do about wines from any other nation (especially my own). Two pals have recently and independently taken on the task of introducing me to red Tuscan [...]
Property tycoon Nick Candy courts Saudis over Capco takeover bid October 20, 2019 Property magnate Nick Candy is said to be in talks with a Saudi investment fund over a potential takeover bid for Capital & Counties (Capco), the owner of Earls Court and Covent Garden. Candy, who developed the One Hyde Park complex with his brother Christian, has held early-stage discussions with Saudi Arabia’s Public Investment Fund [...]