CBRE completes property fund merger creating new £1.47bn fund December 1, 2016 The CBRE UK Property Fund (UKPF) is merging with the Electricity Supply Pension Scheme (ESPS) UK property portfolio to create a new £1.47bn fund. The new fund, which has been authorised by the Financial Conduct Authority, will be operated as a Property Authorised Investment Fund (PAIF). Read more: The City of London is getting taller [...]
Daily Mail publisher’s shares shoot up despite print advertising woes December 1, 2016 Shares in the owner of the Daily Mail jumped five per cent this morning despite the company reporting falling profits amid print advertising troubles. The figures Daily Mail and General Trust (DMGT) reported adjusted revenue up four per cent to £1.9bn in preliminary results for the year to 30 September. But operating profit fell four per [...]
The super prime rental market in the Home Counties is booming on the back of stamp duty changes November 30, 2016 London's luxury property market has been suffering after the government increased stamp duty on high-end homes – but the rental market is booming in the Home Counties on the back of the decision. According to research by Knight Frank, the number of tenant viewings for super prime properties – homes worth over £15,000 per month – has doubled year-on-year [...]
FTSE reshuffles confirmed: Convatec and Smurfit Kappa replace Travis Perkins and Polymetal International in blue-chip index November 30, 2016 Medical products company Convatec has successfully made its way into the FTSE 100 after floating on the London Stock Exchange’s main market at the end of October. Convatec will be joined by Irish packaging firm Smurfit Kappa on the blue-chip index tomorrow morning. Making way are building materials company Travis Perkins, which was forced to [...]
The average British worker loses 70 working days a year by being unproductive in the office – but coffee machines could be the answer November 30, 2016 If you're angling for a pay rise, new research showing that higher earners are more likely to be unhappy at work could give you pause for thought. A study by office services provider Service Partner One found that the average worker takes 2.8 sick days per year – and 1.5 of those days are taken due [...]
Zoopla boss Alex Chesterman: “It’s not acceptable to simply say Brexit means Brexit” November 30, 2016 The founder of Zoopla Property Group and one of the original names behind the legal challenge to Brexit, has said the government's handling of Brexit "highly disappointing" so far and lacks transparency. "I'm in favour of a good Brexit, I think the result in June is not in question," Alex Chesterman said. "A good Brexit could be a very good outcome." But [...]
Zoopla snaps up Technicweb and moves into connected home market as it unveils soaring profits November 30, 2016 FTSE 250-listed Zoopla Property Group announced buoyant full-year results today as well as the acquisition of Technicweb and a move into connected homes with a partnership with Neos. The figures Revenue was up 84 per cent to £197.7m, while adjusted Ebitda soared 58 per cent to £77.1m. Profit for the year was up 44 per cent from [...]
FTSE reshuffle: Travis Perkins, DFS and Countrywide are on the way out November 29, 2016 Cheap sofas, estate agents and building materials are no longer flavour of the month, it seems – with some of the UK's largest blue-chips eligible for demotion in the FTSE. The FTSE 100 and the FTSE 250 will undergo their quarterly reshuffle after market close tomorrow – and DFS, Countrywide Properties and Travis Perkins are all [...]
Investment trust winners of 2016 November 29, 2016 Investment trusts focused on Asia are on course to deliver some of the best returns in 2016, according to data for trust sectors. Investment trusts are an alternative to more commonly held open-ended funds or unit trusts, offering some advantages. This is explained here: investment trust v open-ended funds Here, we look at the [...]
Countryside shrugs off Brexit concerns with soaring revenue and profits November 29, 2016 Housebuilder Countryside has laid solid foundations for 2017 after making a return to the London Stock Exchange earlier this year. The figures Adjusted revenue was up 26 per cent from £615.8m in 2015 to £777m, while adjusted operating profit rose 34 per cent to £122.5m from £91.2m. Basic earnings per share were up 209 per cent from [...]