London’s house prices fall 2.3pc over six months February 17, 2015 LONDON’S house price boom ground to a halt at the end of 2014, official figures showed yesterday, while prices across the rest of the country continued to rise modestly. The average British property in December cost £272,000, up 0.7 per cent on the month and 9.8 per cent on the year. By contrast, London homes [...]
City Moves for 18 February 2015 | Who’s switching jobs February 17, 2015 Crowdcube Dean Mayer and Stuart Nicol have been appointed head of Debt and growth director respectively by the crowdfunding platform. Mayer is co-founder of Fidelitas, a mini-bond and debt advisory firm, and brings 22 years’ experience. He has worked at Belvall Capital, Dresdner Kleinwort Wasserstein, RBS and HSBC Private Equity. Nicol has worked at The [...]
Eastern promise: Keys to investing in Asian markets February 17, 2015 Emerging Asia was one of the best performing regions in the five years leading up to the financial crisis, delivering a 20 per cent return per year in sterling terms. And despite the fact that, over the past two years, the region has underperformed developed markets, it remains a favourite place for UK investors to [...]
In charts: London house prices are now 2.3 per cent below their peak February 17, 2015 London house price growth is slowing along with the UK’s, according to new data. In December, prices in the capital were 2.3 per cent below their August peak, with the rate of growth slowing from 15.3 per cent to 13.3 per cent. Back in May, London prices were on an annual growth roll of 20.1 [...]
InterContinental Hotels share price slumps as much as five per cent after revenue dips on property sales February 17, 2015 The figures Full-year revenue at InterContinental Hotels Group fell 2.4 per cent to $1.85bn (£1.2bn), down from $1.9bn a year earlier, while operating profit was three per cent lower at $651m. This was due to the sale of some of its US hotels. However, beneath this, reported revenue per available room grew 6.1 per cent globally, led by [...]
Boutiques bound for borough market February 16, 2015 VINOPOLIS, the wine restaurant and venue by London Bridge and Borough Market, will be replaced by a collection of boutique shops when it closes in spring 2016. The property fund that bought the two acre site will build a retail development in a £300m plan, due by 2018.
Retailers shop for more space at Hammerson February 16, 2015 PROFITS at shopping centre landlord Hammerson have more than doubled after a “standout year” driven by the economic recovery and a return in consumer spending. The owner of Brent Cross in London and the Bullring in Birmingham said profits more than doubled to £703.1m in 2014 from £341.2m a year earlier. This was driven by [...]
AstraZeneca loses its US patent rights for asthma drug Pulmicort Respules February 16, 2015 AstraZeneca is considering an appeal against a US court ruling that found its patent for asthma treatment Pulmicort Respules is invalid in America. The British pharmaceutical giant said it “strongly disagrees” with the decision and is considering its options. In a statement yesterday, Paul Hudson, president of AstraZeneca US, said: “AstraZeneca has full confidence [...]
Nama to sell Arrow project February 16, 2015 THE REPUBLIC of Ireland’s state-controlled “bad bank” has appointed advisers to sell an €8.4bn (£6.2bn) portfolio of non-performing loans called Project Arrow. The National Asset Management Agency (Nama) was set up to handle property loans attached to the collapse of the Irish property market in 2009. It has brought in Cushman & Wakefield’s Corporate Finance [...]
UK house prices: A return to optimism? – CNBC Comment February 16, 2015 The UK housing market is a favourite topic of conversation – a national pastime, even. But an abundance of different data types mean that statistics can swamp and confuse anyone looking to gauge the current climate. Property website Rightmove just announced its busiest ever month for house hunters, while Halifax saw its biggest January monthly [...]