Revival in the regions helps St Modwen smash expectations February 3, 2015 St Modwen smashed analyst forecasts yesterday after posting a 68 per cent jump in full-year profits, thanks to a revival in the regional property market and its burgeoning commercial developments. The company, which is redeveloping Britain’s biggest flower and vegetable market, New Covent Garden in Nine Elms, said pre-tax profits rose to £138.1m in the [...]
McCarthy & Stone to create 400 jobs as part of £2bn expansion February 2, 2015 RETIREMENT housebuilder McCarthy & Stone announced plans yesterday to launch in three new regions and create 400 jobs as part of its expansion plans to meet booming demand from Britain’s ageing population. The property developer has pledged to invest £2bn on land over the next four years as it looks to double in size and [...]
Publisher Quarto well placed to continue reducing debt in 2015 February 2, 2015 Independent illustrated book publisher Quarto received a 2.3 per cent bump to its shares yesterday after it reported “steady progress in 2014 despite a tough first half to the year”. Following its last market update in November the group said it started the new calendar year with less debt and organic growth. “The determination of [...]
Jamie Ritblat’s Delancey in talks to sell the City’s Walbrook building for £600m February 1, 2015 THE OWNERS of the Walbrook in the City are understood to be in talks to sell the trophy office building for as much as £600m. Jamie Ritblat’s property company Delancey has owned the Walbrook building since 2011, when it acquired its owner Minerva for £200m. Although now almost fully let, the Foster and Partners-designed building [...]
Commercial property investment reaches highest post-crash level February 1, 2015 MORE investors are putting money into commercial property, city law firm RPC said today. According to the firm’s analysis of official figures, private investment in commercial property climbed from £5.8bn in 2012 to £6.6bn in 2013 – a 14 per cent increase. Financial institutions’ property deals a jumped to £7.4bn in 2013 from £6bn in [...]
City Moves for 02 February 2015 | Who’s switching jobs February 1, 2015 EY Kate Richardson-Walsh has been appointed to EY’s business development team in London. She is a triple Olympian, and has been the captain of England and Great Britain hockey for the past 11 years. She will take up the role while training for the Rio 2016 Summer Olympics. Investec Specialist Bank The bank has announced [...]
From Greek elections and Apple’s record-making profits to Thameslink floods and Afren’s misery: Here’s what got us talking this week January 30, 2015 News was dominated by results from the US this week, but it was Apple that really made waves with its history-making profits of $18bn in one quarter. Here are five things that put that into perspective. (Hint: It's huge). Meanwhile as the results of the Greek election began to sink in, investors started reacting. [...]
London property market boom loses steam as it enters the new year January 29, 2015 LONDON house prices finished 2014 growing more slowly than they had done earlier in the year, but still at rates far above the average for England and Wales. The average price of a residential property in the capital was £464,936, according to figures released yesterday by the Land Registry. The average London price was 16.3 [...]
Great Portland Estates jumps in value thanks to West End property demand January 29, 2015 Great Portland Estates (GPE) yesterday posted a 5.2 per cent surge in the value of its property portfolio, thanks to London’s booming West End property market, despite increased uncertainty ahead of the upcoming general election. The FTSE 250 developer said the value of its estate was worth £3.07bn at 31 December, up £152.3m on the [...]
Fed up with London’s insane property market? A houseboat could be the answer to your prayers January 29, 2015 Young couples faced with the daunting task of establishing a foothold on the property ladder can be forgiven for wanting to jump on a boat and sail as far as they can from the glittering circus of estate agents, sky-rocketing prices and penury caused by endless saving. Anyone who follows through with this escapist urge [...]