Mike Ashley funds purchase of Chelsea development worth £900m April 19, 2015 Mike Ashley has financed a deal for a lucrative development in Chelsea that could be worth around £900m according to reports. The Newcastle United owner and Sports Direct founder is said to have provided the £200m paid by Citygrove and McLaren Properties for a development site from John Lewis. According to The Sunday Times, the money [...]
From the glitterbomb to Bloomberg down: Here’s what got us talking this week April 17, 2015 There was a debate. There was a glitterbomb. And for most of Friday, around the world, there was very little trading being done. Here's what got us talking this week. 1. Bloomberg down Friday morning was either a disaster or a small gift from a benevolent and powerful entity. Bloomberg Professional went down [...]
Bye-bye Tech City? Spiralling office rents in Shoreditch’s Silicon Roundabout will push tech startups out of London April 17, 2015 Technology firms are being forced to consider relocating outside of London by the spiralling costs of renting office space in the capital and the home of tech in Shoreditch. A quarter of London’s tech firms have considered a move away from the capital entirely, while more than two in five lack confidence in the city’s [...]
UK house prices hit new high, but growth slows to its lowest for 16 months as London feels the effects of stamp duty changes and mansion tax fears April 17, 2015 UK house price growth is at its slowest since 2013, despite the cost of buying a house hitting record highs. The capital was particularly affected, as changes in stamp duty and fears of a mansion tax hit sales. The figures According to figures from LSL property Services, March 2015 had the smallest annual rise in [...]
Moody’s warns of threat to UK economy from house price drop April 16, 2015 RATINGS agency Moody’s yesterday warned that the UK’s housing market posed a significant risk to the economy. Reviewing 50 episodes of house price declines, Moody’s analysts found that they were typically associated with a six per cent loss in GDP. It said that low interest rates, rising populations and slow construction had contributed to house [...]
Best of the Brokers for 17 April 2015 April 16, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com ZOOPLA Berenberg Bank initiated coverage of the property portal with a “buy” rating and a target price of 250p. It believes that the disturbance to Zoopla from new competitor, Agents Mutual, will only be short-term, and could create a buying opportunity for Zoopla. [...]
How to build workplaces fit for Generation Y April 16, 2015 You don’t need the budget of Google to ensure your office attracts new talent. The UK population is ageing, and as older employees edge closer to retirement, the less influence they will have on how the workplace of the future is shaped. Instead, it is Generation Y – those under the age of 35 – [...]
UK house prices: Rental growth is now outpacing house price increases April 16, 2015 The price of renting a home in the UK has risen 10 per cent in the last 12 months – faster than the rate of growth for buyers. New data from HomeLet shows that the average rental cost rose in the 12 months to March in 11 of the 12 UK regions, with only Wales [...]
This dairy is now a multi-million pound Mayfair mansion worth £25m April 16, 2015 A former dairy farm in the heart of one central London's most prestigious locations has been transformed from a simple cowshed into a multi-million pound home worthy of countesses, rather than cows. The more than 8,000 sq ft site on Farm Street in Mayfair, which is close to Grosvenor Square and The Dorchester and just [...]
General Election 2015: McCarthy & Stone CEO Clive Fenton wants a retirement housing plan April 15, 2015 ELECTION COUNTDOWN: 21 DAYS TO GO Every day until the final week of the election campaign, we ask a business leader to say what policies would entice them to vote for a particular party. CLIVE FENTON: CEO, MCCARTHY & STONE Every political party claims the chronic housing shortage is critical in the UK, [...]