European Medicines Agency loses £500m ruling over bid to cancel lease amid Brexit move February 20, 2019 The European Medicines Agency (EMA) has lost a court battle to break a £500m London office lease in the wake of its planned move to Amsterdam post-Brexit. In a landmark case for the commercial property industry ahead of Britain’s departure from the EU, landlord Canary Wharf has won a ruling that means the EMA must [...]
Shopping centre landlord Intu swings to a loss after swallowing £1.4bn hit to property values February 20, 2019 Embattled shopping centre landlord Intu moved into the red last year, as more than £1.4bn was wiped off the value of its property following a swathe of retail challenges. Shares in the group dived almost 10 per cent in early morning trading. The figures Losses at the FTSE 250 firm, which suffered two failed takeover bids [...]
WTO blames trade war tariffs for weakest global trade in nine years February 19, 2019 Global trade is about to hit its lowest level in nearly nine years, warned the World Trade Organization (WTO) today, as international tensions and political uncertainty weigh on countries . The WTO's latest forecast warned that trade would fall below its baseline index value of 100 to 96.3 in the first quarter of 2019, the lowest reading since [...]
Slowdown in retail investment as Brexit uncertainty puts sellers on hold February 19, 2019 Investment in retail property tumbled by several billion pounds last year, as owners of high street stores, retail parks and shopping centres showed a reluctance to sell at discount prices despite uncertainty over Brexit and a swathe of industry-wide pressures. A gap in price expectations between buyers and sellers of retail property is causing a [...]
Greystar and Henderson Park snap up Telford build-to-rent site for £105m February 19, 2019 London housebuilder Telford Homes revealed this morning that it has sold one of its largest build-to-rent development sites for more than £100m. US developer Greystar and European real estate investment platform Henderson Park have snapped up the Equipment Works scheme in Walthamstow, which comprises more than 250 rental homes, for £105.5m in their latest bid to [...]
Transactions slips as market ‘holds its breath’ in run-up to Brexit February 18, 2019 Fresh evidence of an activity slump in Britain’s housing market has been brought to light this morning, with new data showing a sharp drop in property transactions during the last three months. The average number of sales recorded by estate agents in November to January were 36 per cent lower than the long-term average, as [...]
Holiday Homes: Head to Samoens in the French Alps to suss out new ski homes that allow you to resort hop at no extra cost February 18, 2019 Families wanting to buy a ski apartment without the hefty price tag of the best-known French resorts are finding smaller ski areas like Samoëns are a breath of fresh mountain air. An hour by car from Geneva, Samoëns is described by the French as one of their monuments historiques – that just happens to be [...]
Should investors be more concerned about China’s slowdown? February 18, 2019 The rise of China has been astonishing and its growing influence on the world is one of the economic forces discussed in our inescapable investment truths for the decade ahead. But economies don’t grow in a straight line. China is facing a transition period. It is a country we monitor closely and we believe its [...]
UK house prices’ affordability improves at fastest rate for eight years as wage growth outpaces prices February 18, 2019 Prospective house buyers could be set for a change in fortunes as affordability improves at its fastest rate in eight years, new data has revealed. With annual house price growth at just 0.2 per cent, the annual wage increase of 3.4 per cent is outpacing asking prices at the fastest rate since 2011, according to figures [...]
Citigroup closes in on £1.2bn purchase of Canary Wharf headquarters February 17, 2019 Citigroup is in talks to buy its Canary Wharf headquarters for a reported £1.2bn in a major show of confidence in London’s status as a global financial centre. Citi is looking to secure the purchase of the 25 Canada Square skyscraper, which it currently leases, from owner AGC Equity Partners in a bid to double [...]