Paragon gets tough on property valuation to mitigate against Brexit concerns November 21, 2018 UK bank Paragon will take a “robust approach” to property valuation to mitigate against a potential economic downturn following Brexit, it announced today. The FTSE 250 lender said it has strengthened an in-house property team that conducts two thirds of valuations and validates all valuations undertaken by third party surveyors. The company said in a statement: “The [...]
London house buyers report growth in gazumping despite wider UK decline November 21, 2018 Roughly two in every three London buyers has been ‘gazumped’ on a house purchase in the last year, according to a new poll which underlines the growing frustration within the capital’s housing market. Gazumping, which is the process of agreeing to a person’s offer on a property and then selling the house to another buyer [...]
Focus On Woolwich: This soon-to-be Crossrail hub will see its population increase by 58 per cent by 2026 November 20, 2018 Last month, the Woolwich Ferry made its final voyage across the Thames. For many, it was an emotional farewell as locals had watched it transport cars and people from one side of the river to the other for the last 55 years. Though the Ferry is no more, the service resumes in December with two [...]
Europe’s real estate investors dominate central London commercial market November 19, 2018 European buyers dominated Central London’s commercial property market in the third quarter of 2018, according to a new Knight Frank survey which underlines investor appetite from the continent. Accounting for almost 40 per cent of Central London’s market share by price, buyers from across Europe are on course to exceed their 10-year average levels of [...]
Mears shares fall as it confirms purchase of Mitie’s social housing business November 19, 2018 Social housing provider Mears today said it has bought industry-related assets from outsourcing firm Mitie's property management division, in a transaction valued a £35m. Mears said it would finance an initial cash consideration of £22.5m for the deal via a placing of new ordinary shares on the London Stock Exchange. A deferred consideration of the remaining [...]
London pub and restaurant sales buck the trend as casual dining chains struggle to stand out November 19, 2018 Pub and restaurant groups in the capital delivered “relatively healthy” like-for-like sales in October, but growth remained flat across the rest of the country. Overall like-for-like sales grew 2.5 per cent in London, compared with a 0.5 per cent fall outside the capital. Sales in managed pubs and bars were ahead of restaurants, increasing 3.6 [...]
Buyers eye up Christmas offers as prices slip in November November 19, 2018 Homeowners hoping to sell their house are slashing prices and expectations, in a move that signals a boon for buyers in the run-up to the festive season. Property prices tumbled 1.7 per cent this month, marking the largest November drop since 2012, with London’s stagnant housing market continuing to see a sharper decline than any [...]
Editor’s Notes: Nobody has a clue what’s going to happen November 16, 2018 Westminster has entered a period of chaos, marked by the usual signs of political turmoil: marquees outside parliament for camera crews, protesters desperately trying to get in shot and MPs from all sides of the debate milling around trying to get on the air. In the City, frantic movements in sterling and a sizeable hit [...]
Property firm Crosstree buys Edmonton Green shopping centre for £72m November 15, 2018 Real estate firm Crosstree has bought Edmonton Green Shopping Centre in north London for £72m, the company said today. The property firm, which co-owns retail space in the O2 arena, said it has exchanged contracts with owners St. Modwen for the 495,000 square feet (sq ft) shopping centre in Edmonton. The shopping centre, which sits on [...]
Fix the housing crisis and save the high street at the same time November 15, 2018 Two "crises" have dominated the headlines in the last year. The first is the pressure on housing, the challenges of the rental market, and the soaring cost of living, especially in big cities. The second is the so-called “death of the high street”, as shopping habits change and the retail sector struggles to keep up. [...]