The Quindell share price fiasco should not dent faith in the robust Aim market December 9, 2014 The AIM market, the London Stock Exchange’s junior market, has been subjected to an unprecedented level of criticism over recent weeks. The fiasco at Quindell, which saw another twist this week, as the company called in PwC to review its accounting practices, has seen blame apportioned to Aim itself, and those who regulate it. In [...]
Islington’s war on foreign investors will do nothing to solve the housing crisis December 9, 2014 ISLINGTON Council has just declared war on overseas investors. It has even coined a catchy little phrase, “buy-to-leave” investors, citing them as the cause of new homes standing empty. Under new proposals, under consultation until 30 January, owners of new builds will be unable to leave their homes empty for longer than three months or [...]
New Scotland Yard sold for £370m to Abu Dhabi Financial Group – netting unexpected £120m December 9, 2014 News Scotland Yard, the central London home of the Metropolitan Police, has been sold to a group of Abu Dhabi investors for £120m more than the building’s guide price. The Abu Dhabi Financial Group has been revealed as the buyer of the 1.7 acre, 600,000 sq ft site in Victoria, paying £370m after what was [...]
Canadian pension fund Ivanhoe Cambridge buys Deloitte’s London HQ Stonecutter Court for £112m December 8, 2014 Canada's second-largest pension fund has bought Deloitte’s City offices from Hines Global Reit for £112m as it looks to step up its exposure to the London office property market. Ivanhoe Cambridge, the real estate arm of Canada’s Caisse de depot et placement du Quebec, said yesterday it has bought Stonecutter Court near Holborn. [...]
City Moves for 09 December 2014 | Who’s switching jobs December 8, 2014 TSP The commercial property agency has announced two promotions. Jonathan Vanstone-Walker becomes director of surveying & agency. He joined TSP in 2011. Abigail Bridgland (pictured) becomes senior associate surveyor. She has been at the firm for two years. State Street Matt Davey has been appointed senior vice president and head of the asset manager client [...]
Explosions, chemical warfare and spying: After a Heathrow plane’s near miss, here are six terrifying ways drones could be used against us December 8, 2014 After a mystery drone nearly collided with an aeroplane as it came in to land at Heathrow in July, there have been further warnings surrounding the threats posed by unmanned air vehicles (UAV). The UK Airprox Board (UKAB), which oversees air passenger safety, is working on a report confirming the Airbus A320 pilot saw the drone [...]
City Moves for 08 December 2014 | Who’s switching jobs December 7, 2014 BNP Paribas Real Estate James Max has been appointed UK board adviser to the property advisory firm. He joined in January 2014 as a senior advisory director. Max is a media personality and has also held roles at DTZ, Morgan Stanley, and Doughty Hanson. Addleshaw Goddard The law firm has announced the appointment of Katie [...]
Mansion tax fears and stamp duty changes send the world’s super-rich to London’s rental market December 7, 2014 Anxieties over the outcome of the 2015 general election and new stamp duty reforms are persuading the world’s super-rich to rent property in London rather than buy it outright, according to a new report. London’s lettings market has benefitted from a huge bump in prime rentals, with as much as 21 per cent of [...]
Berkeley reports another stonking set of profits December 5, 2014 The figures Housebuilding giant Berkeley Group reported this morning that profits before tax leaped 79.9 per cent to £305m in the six months to the end of October. Revenue also rose, to a touch over £1bn, a jump of 24.5 per cent, while earnings before share increased 78.6 per cent to 178.6p. Why it's interesting [...]
Where do the UK’s wealthiest property investors live? Rich list shows how London’s power is shifting December 5, 2014 The richest investors in property have increased their wealth by 35 per cent in the past 12 months, meaning a swelling of wallets to the tune of £55.8bn since 2013. A new rich list compiled by Estates Gazette reveals the richest 250 people in world property have so much wealth, that £100m is needed to [...]