Regular home buyers feel the squeeze as investors and second home buyers storm London property market April 27, 2016 Fewer than half of all homes sold in central London over the last three months went to regular homeowners, a new report has shown, casting a light on the extent of the housing crisis in the capital. Buy to let landlords accounted for 36 per cent of property transactions during the first three months of [...]
Suitors wanted: Investors circle as Austin Reed becomes the latest retailer to tumble into administration April 26, 2016 Austin Reed has become the second retailer to enter administration in as many days, following the collapse of BHS on Monday. Yesterday, AlixPartners’ Peter Saville, Kevin Coates and Catherine William-son were named joint administrators of the firm, after months of challenging market conditions and cash flow problems. Two names have emerged as potential rescuers of the [...]
Thomson Reuters expects to complete sale of $3bn-valued intellectual property and science units this year April 26, 2016 Thomson Reuters expects to sell off its intellectual property and science units, which have been valued at around $3bn (£2.1bn), this year. The US media company said in its first quarter report, released today, that a sale process has been launched and a deal is due to complete in the second half of 2016. The figures Thomson [...]
Austin Reed appoints AlixPartners as administrators, putting 1,200 jobs at risk – but buyers are already circling April 26, 2016 Just one day after British stalwart BHS entered administration, another iconic name has been forced to follow suit. Austin Reed has this morning entered administration, affecting 1,184 staff. Peter Saville, Kevin Coates and Catherine Williamson, of AlixPartners Services have been appointed joint administrators. It comes a result of cash flow difficulties arising from challenging retail market conditions, [...]
Property market mushrooms in March as mortgage borrowing hits a post-crisis high April 26, 2016 The property market was in full swing last month with yet another industry report showing mortgage lending shot up as investors piled in to beat the stamp duty surcharge which came into effect on 1 April. According to the British Bankers’ Association (BBA), banks and building societies dished out £17.1bn to people taking out mortgages in March – [...]
Fancy living like royalty? Move into the wing of this Grade-I listed castle on the corner of Greenwich Park April 25, 2016 Everyone has a favourite London park, but when it comes to views, Greenwich is unrivalled. Rolling hills give way to the skyscrapers of Canary Wharf, which eyes up the white-domed O2 Arena with its bright cranes like candles on a birthday cake. For 22 years, Dave and Barbara Edgar have invited friends and family to [...]
UK house prices: Hundreds of thousands of homeowners who bought in 2007 are still stuck in negative equity April 25, 2016 Average house prices in more than half of UK towns and cities are still below 2007 levels, new research has claimed, trapping hundreds of thousands of people who bought at the top of the market in negative equity. Around 1.5 million property transactions were completed at the top of the market before the banking collapse [...]
BHS is in administration: Here’s what analysts say was to blame (and what the future holds) April 25, 2016 BHS is in administration having notched up £1.3bn in debt, it has been confirmed this afternoon. Duff & Phelps has been appointed to handle the iconic retailer's administration, with managing directors Phil Duffy and Benjamin Wiles sounding confident about finding a new buyer. City A.M. understands more than 30 enquiries have already been made, and now [...]
Estate agent wars: Why OnTheMarket is here to stay, even after the CMA warning April 25, 2016 You may have read last week about the open letter from the Competition and Markets Authority (CMA) to estate agents to remind them about their obligations under competition law when choosing online property portals to advertise their properties. The CMA has been very clear in cautioning agents to act independently and not to collude. At OnTheMarket.com, we welcome [...]
City Moves for 25 March 2016 | Who’s switching jobs April 25, 2016 FARMDROP Former Marks & Spencer head of logistics, Philip Eaves has joined online marketplace, Farmdrop as its first director of supply chain. The appointment coincides with a major product upgrade as the online marketplace launches one-hour slot, seven-day deliveries via its fleet of zero emission electric vans and Farmdroppers. Philip previously headed up logistical development [...]