Paragon Group banks on shift from home owning as Britain becomes nation of renters November 25, 2014 Britain is increasingly becoming a nation of renters rather than home owners, Paragon Group’s boss told City A.M. yesterday. The lender increased its buy-to-let mortgage loans by more than 80 per cent this year, as homes become increasingly unaffordable. On top of sharp price rises in London, the mortgage market review (MMR) rules put in [...]
Zoopla boss Alex Chesterman isn’t fazed by Agents’ Mutual launch November 25, 2014 Agents’ Mutual doesn’t faze the property portal boss Alex Chesterman isn’t worried by the upcoming launch of what could be Zoopla’s biggest challenge to date, Agents’ Mutual, a property site led by several major estate agents launching in January. “The majority of estate agents are not participating in Agents’ Mutual,” he says. “So far [it [...]
Sir Philip Green shrugs off profit slide at Arcadia November 25, 2014 SIR PHILIP Green shrugged off Arcadia’s decline in full-year profits yesterday, insisting his retail empire was adapting to the “fast-changing” demands of the retail industry. The company behind Topman, Miss Selfridge, Dorothy Perkins, Burton and Wallis as well as Topshop, posted a 3.4 per cent drop in pre-tax profits to £143.1m in the year to [...]
City Moves for 26 November 2014 | Who’s switching jobs November 25, 2014 Standard Chartered Euan Campbell has been appointed to the newly-created role of global head of retail segments for retail clients at the bank. He joins from Santander Group, where he was executive vice president responsible for the strategic direction of its US cards business. Campbell has also held senior roles at HSBC. Cordea Savills The [...]
The UK could be the world capital of the sharing economy if we take these steps November 25, 2014 EVERYONE seems to be talking about the “sharing economy”, and while this may not be a model that will work for every industry, it is a trend that requires attention. So much so that, in September 2014, the UK government raised the need for an independent report to examine the social and economic potential of [...]
Sir Philip Green shrugs off profits drop at Topshop parent group Arcadia November 25, 2014 Sir Philip Green has shrugged off Arcadia's decline in full year profits, highlighting how the Topshop parent group is adapting to the “fast changing” demands of the retail industry. The group, which owns Topman, Miss Selfridge, Dorothy Perkins, Burton and Wallis as well as Topshop, reported a 3.4 per cent drop in pre-tax profits [...]
Zoopla share price rises as it shrugs off the threat from Agents’ Mutual November 25, 2014 Shares at online property giant Zoopla rose 2.6 per cent as the market opened, after the company said full-year revenues had soared on the back of rising visits to the website, and as the company dismissed threats from a rival platform. The property group, which is owned by the Daily Mail and General Trust (DMGT), [...]
New Look ties up sale of French business MIM to Hong Kong firm Main Asia November 24, 2014 New Look said yesterday it had completed the sale of its French business Mim to Chinese firm Main Asia without disclosing the terms of the deal. Main Asia is a Hong Kong-based company established earlier this year to acquire Mim. Very little is known about the company except that the main shareholders and management are [...]
Home Retail Group sells Homebase in Battersea for £52m to homes developer Fifth Capital London November 24, 2014 The housing market in London’s Nine Elms area is booming. But Home Retail Group has decided to sell its DIY store Homebase in Battersea after receiving a £57m offer for the sought-after site. The retailer said yesterday it had exchanged contracts to sell the huge site on York Road to Fifth Capital London, a little-known [...]
City Moves for 25 November 2014 | Who’s switching jobs November 24, 2014 Lambert Smith Hampton Caroline Waldron has been appointed senior surveyor in the commercial property consultancy’s London office agency team. She joins from JLL, where her clients included Fidelity Investments, Threadneedle Investments and Mercer Real Estate. BNP Paribas Securities Services The custodian has announced three senior appointments to its assets and funds services team in London. [...]