City Moves for 15 November 2016 | Who’s switching jobs November 15, 2016 Harrods Bank Harrods Bank has appointed Mark Stephens as its new chief executive officer. Mark joins Harrods Bank following seven years at Aldermore Bank, most recently in the role of deputy chief executive and group commercial director. Mark will be responsible for the overall leadership and direction of the bank as it enters an exciting [...]
Affordable housing could be about to become an asset class in its own right November 14, 2016 Affordable housing could become an asset class in its own right, new research has suggested. A report published today by management consultancy CIL has suggested that, despite having historically been regarded as a challenging area for the construction industry, affordable housing now represents a significant area of opportunity for the sector and for investors. The [...]
American Apparel files for bankruptcy again and is set to sell brand to Canadian company Gildan Activewear November 14, 2016 Bad news for fans of lamé leotards: now American Apparel has filed for bankruptcy less than a year after ending its first period under court protection. It's also agreed to sell the brand to Canadian clothing manufacturer Gildan Activewear for around $66m. In a statement Gildan announced it had entered into an asset purchase agreement to [...]
Success by design: City A.M. meets ePorta founder Aneeqa Khan November 14, 2016 For a business traversing the worlds of interior design and technology, you might expect the office of Eporta to be plush with elegant textiles, walnut coffee tables, and moody pendant lamps. But presently, it’s not. “I am someone who cares about my surroundings,” says Aneeqa Khan, founder of Eporta. “This office really isn’t nice enough [...]
Rents grow at slower pace as landlords juggle tenant affordability and their own returns according to HomeLet November 14, 2016 RENTS across the UK rose by an annual average of 3 per cent in October as landlords juggle affordability for tenants with their own returns. A tenant signing up for a new tenancy during October agreed to pay an average monthly rent of £902, 3 per cent above October 2015’s average of £875 according the [...]
City Moves for 14 November 2016 | Who’s switching jobs November 14, 2016 Valad Europe Valad Europe, part of Cromwell Property Group, a global real estate investment manager, has hired Robin Macpherson as head of risk, Europe. Reporting directly to David Kirkby, CEO, Europe, Robin will be responsible for all aspects of risk management affecting the European business. The role will include leading and overseeing legal and compliance issues [...]
Retail sector shows signs of strengthening as shoppers return to the high street November 14, 2016 Retailers saw footfall drop in October, but at a slower rate than the previous month, as shoppers headed to the high street despite the lure of online shopping. Springboard UK’s latest figures showed a less severe fall last month compared to September. Read more: Christmas adverts rated: Which retailer has made the best ad of 2016? “The slight [...]
Focus On Rotherhithe: A £34m investment has brought a new town square, library and cultural centre to the Docks November 11, 2016 Rotherhithe, a conservation area in the Docklands in south east London, is one of the prettiest and most rapidly gentrifying places in the capital. With a long and proud history as a major trade port, it was a working dock right up until the 1970s. It was also home to the first under-river tunnel in [...]
There’s been a huge spike in Americans searching for London property since the US election November 11, 2016 Remember when searches for Irish passports broke the Irish embassy website after Brexit? Well, it seems anti-Trump Americans have set their sights rather further – after property portal Zoopla reported a 45 per cent spike in traffic to its website from the US in the hours after the Presidential election result was announced. According to [...]
The housing minister just admitted the government will miss its housebuilding targets November 11, 2016 The UK's housebuilding sector is "absolutely… not at the rate we need to be" in order to meet government targets, the housing minister has admitted. In an interview with Sky News, Gavin Barwell said although the UK is currently building 170,000 new homes a year, we're on course to miss a target of one million [...]