Foxtons: Sales revenue booms on stamp duty completion rush April 23, 2025 Revenue at London’s largest estate agent Foxtons has risen by a quarter, driven by the large number of completions brought forward to benefit from stamp duty relief. The company said that overall revenue rose by 24 per cent in the three months ended March 31, with a 73 per cent rise in sales revenue. Foxtons [...]
Reckitt Benckiser: Dettol, Durex and Gaviscon drive growth but America lags April 23, 2025 Consumer goods giant Reckitt Benckiser has reported an uptick in profit driven by its core brands and emerging markets despite a slowdown in North America. Group revenue at the company rose by 1.1 per cent in the first quarter of the year. This growth was driven by emerging markets China and India, where like-for-like revenue [...]
Prime London house prices underperform wider property market under Labour April 23, 2025 The prime London housing market has risen by less than the wider housing market since last June, despite the sector’s usual strong performance under Labour. Since July of last year, the average London house price has fallen by 0.5 per cent, according to Benham and Reeves. House prices across Kensington and Chelsea, meanwhile, have plummeted [...]
WHSmith shares continue to sink ahead of high street chain rebrand April 22, 2025 WHSmith’s shares have sunk more than 18 per cent since the company’s board approved the sale of its high street chain at the end of March. It’s one of the few retail stocks that hasn’t recovered from the tariff-fueled market dip in the first week of April, with investors still concerned about the stationer’s prospects. [...]
Logistics leaders warn business rates reform could drive up high street prices April 22, 2025 A coalition of logistics professionals and long-term industrial investors has warned that changes to the business rates system risks damaging the British high street by pushing up costs. The group, which includes major investors Segro, Prologis and Tritax Big Box, said that the proposal to apply a higher business rates multiplier to more valuable properties [...]
Wework hopeful of revival amid growth in demand for flexible workspaces April 22, 2025 Embattled office company Wework is hopeful of a revival after reporting a jump in demand for flexible workspaces in London. The New York-based business, which collapsed in November 2023 before emerging from bankruptcy last year, said its on-demand bookings – a pay-as-you-go membership option – rose by 30 per cent in London compared to the [...]
Dexters: High rents boost profit of London’s largest private estate agent April 22, 2025 Independent estate agent Dexters has reported a double-digit profit boost due to growth in its letting arm. Revenue rose 23 per cent rise to £222m in 2024, from £181m in 2023, with underlying operating profit up 17 per cent to £47.2m, from £40.4m in the prior year. Dexters, which is London’s largest estate agency with [...]
Kuwait’s sovereign wealth fund sues new City skyscraper over right to light April 22, 2025 The owner of new London skyscraper 50 Fenchurch Street has been sued by Kuwait’s sovereign wealth fund over claims the tower will obstruct light. Kuwait’s sovereign wealth fund, which owns the freehold to the Willis building on Lime Street, has brought the case through the High Court via its real investment vehicle, St Martins Property. [...]
Renters’ Rights Bill raises ‘significant questions’ for tenants, industry leaders warn April 21, 2025 Industry leaders have expressed concerns about the knock-on effects of the Renters’ Rights Bill, which entered the committee stage on 21 April. The bill, which aims to give renters greater security and stability, will abolish Section 21 ‘no-fault’ evictions, as well as ban landlords accepting offers above the advertised rent and prohibit pre-tenancy rent payments. [...]
Mortgage completions surged 50 per cent in March amid race to swerve stamp duty April 21, 2025 Mortgage completions have risen to their highest level since September as buyers rushed to avoid higher property taxes. Completions in March jumped 70 per cent compared to February for first-time buyers, according to Barclays, ahead of a change to stamp duty rates in April. “We experienced a blockbuster month for completions in March, as buyers [...]
