Residential landlord Grainger confident in future of London’s ‘attractive’ rental market May 13, 2021 Residential landlord Grainger said it is confident in London’s ability to bounce back from the coronavirus pandemic, despite slumping rental prices in the capital. The FTSE 250 developer said this morning that its “conviction in London’s rental market remains”. “As a leading city, London will continue to be an attractive location to live in and [...]
Burberry reinstates dividend at pre-pandemic levels as sales bounce back following lockdowns May 13, 2021 Burberry shareholders will receive a payout equal to pre-pandemic levels after the luxury retailer reinstated its dividend, following strong recovery in its core markets. The designer brand said this morning that it will reinstate its full-year dividend at 2019 levels of 42.5p “on the back of strong cash generation”. In the year ended 27 March [...]
Investment manager Brewin Dolphin posts record quarterly inflows of £1bn May 13, 2021 UK investment manager Brewin Dolphin toasted record fund inflows of £1bn in the first three months of 2021. The firm said it beat its own record for total discretionary fund inflows in the second quarter, which helped to boost its total funds by 10.5 per cent to £52.6bn in the six months ended 31 March. [...]
UK housebuilder Countryside’s sales soar as property market booms May 13, 2021 UK housebuilder Countryside reported soaring sales and profit in the first half of the year as the housing market boomed following the lifting of Covid restrictions. The property developer said adjusted revenue was up 42 per cent in the six months ended 31 March, reaching £755m compared to £530.9m in the previous year. Adjusted operating [...]
UK house price growth accelerates as supply of new homes coming to market dwindles May 13, 2021 UK house price growth accelerated last month due to a slowdown in the supply of new homes coming to market, according to the latest research. A survey carried out by the Royal Institution of Chartered Surveyors (Rics) showed that 75 per cent of respondents reported an increase in UK house prices. The figure is up [...]
Exclusive: Demand for prime London office space jumps as return to workplace looms May 12, 2021 Businesses are seeking high quality office space as they prepare to bring staff back to the workplace, with prime property deals rocketing over the last six months. While many firms are contemplating a mix of office and home working after the pandemic, the race is on to offer employees top spec work space after Covid [...]
Ex-Dragon’s Den star plans £10m placing to fund expansion of London bar chain May 12, 2021 Nightcap, the hospitality investment vehicle founded by ex-Dragon’s Den star Sarah Willingham, has launched a £10m placing to fund the expansion of London’s Adventure Bar Group. Nightcap, which is Aim-listed and was founded to help drinks-led businesses recover from the coronavirus pandemic, said the £10m is “significantly higher than originally planned” due to “strong demand” [...]
High Court gives Virgin Active CVA green light in further blow for landlords May 12, 2021 Landlords have lost their legal challenge against Virgin Active’s restructuring plan, in the second high profile defeat for commercial property owners this week. Today’s High Court judgement will come as a further blow to landlords hoping to challenge tenants over Company Voluntary Arrangements. It comes after the court gave New Look the green light to [...]
Cost cutting drives National Express profit growth in first quarter May 12, 2021 Cost cutting helped coach operator National Express secure profit growth in the first quarter despite fewer journeys being taken during the pandemic. The travel company said performance is improving despite ongoing Covid restrictions, with April revenue up 50 per cent compared to last year, at the height of the first lockdown. Revenue is 16 per [...]
Redrow appoints property veteran as new chairman as ex-CEO steps down after 20 years May 12, 2021 Redrow has appointed property industry veteran Richard Akers as its new chairman as former chief executive John Tutte prepares to step down after 20 years on the housebuilder’s board. Akers, a former director at commercial landlord Landsec, will join Redrow’s board as chair-designate on 1 June before taking on the role permanently from 15 September. [...]
