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.... She said the council favoured finding a strong leaseholder over long-term regeneration. “We had serious investors who had invested in the town before, but we were never going to beat Wetherspoon in a commercial property deal. ... [Read full article on Guardian ]
Monday 28th of August 2017 01:28:10 PM
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Latest Finance News related to Commercial Property

'Shark in minnow pond': Ramsgate locals split on new Wetherspoon pub image
Source : Guardian [Read Article] Monday 28th of August 2017 01:28:10 PM
.... She said the council favoured finding a strong leaseholder over long-term regeneration. “We had serious investors who had invested in the town before, but we were never going to beat Wetherspoon in a commercial property deal. ...
China's Dalian Wanda drops purchase of Nine Elms Square in London image
Source : Guardian [Read Article] Tuesday 22nd of August 2017 08:38:07 AM
. China’s largest commercial property company has pulled out of a £470m purchase of Nine Elms Square in south-west London after pressure from regulators in Beijing over its overseas investments. ...
Brexit-fuelled boom gives Dublin’s Celtic Tiger a reason to roar image
Source : Guardian [Read Article] Sunday 6th of August 2017 09:42:50 AM
....But economist David McWilliams points out that commercial rents in Dublin, at €673 per square metre, are now 42% higher than in Frankfurt – and that Irish property investors must be praying for not just a hard Brexit, but a granite one. “If Brexit doesn’t drive a massive uptake in demand, we are in for a massive wobble in our inflated commercial property market,” he wrote online last week. ...
Leaseholds are not the problem – abuse of them is | Editorial image
Source : Guardian [Read Article] Thursday 3rd of August 2017 05:53:08 PM
.... It’s worth thinking why they were invented and have endured for centuries. They are a highly effective way of allocating capital, risk and reward in the use of land and buildings; they are still much used in commercial property transactions for that purpose. ...
UK banks ordered to hold more capital as consumer debt surges image
Source : Guardian [Read Article] Tuesday 27th of June 2017 09:44:48 AM
.... The Bank’s Prudential Regulation Authority and the City regulator, the Financial Conduct Authority, will also publish next month how they expect lenders to treat borrowers in the consumer credit market. The Bank’s half-yearly assessment of risk to financial markets also set out measures to rein in the riskiest mortgage lending, highlighted the risks associated with the UK’s exit from the European Union and said commercial property prices were “at the top end of sustainable valuations”. ...
Maxed-out consumers of concern to Bank of England image
Source : Guardian [Read Article] Sunday 25th of June 2017 06:00:22 AM
....Carney is also likely to use the report to give himself and committee colleagues a pat on the back for the steps already taken by the FPC to rein in the mortgage market, which in turn give monetary policymakers scope to raise interest rates without inflicting too much harm on borrowers. The royal family’s commercial property arm has had full confidence in the resilience of the market in the West End of London despite the Brexit vote. ...
Co-op Bank has lost £2.6bn since the crisis – but can still bounce back | Nils Pratley image
.... Instead, the deal in the offing is a gamble born from necessity. By playing for time and allowing more of the poisonous commercial property loans to wash out of the system, the financiers are hoping to get shot of the Co-op Bank on more favourable terms at some point over the horizon. ...
Nationwide profits drop 18% as it shields savers from interest rate cuts image
....The Co-op Bank has put itself up for sale and the City is awaiting an update on whether its bondholders and shareholders will put in more cash to help bolster its financial position. Garner is pulling out of selling car insurance and commercial property lending. ...
RBS settlement has left business couple feeling 'gutted' image
Source : BBC [Read Article] Thursday 18th of May 2017 01:48:53 PM
....RBS has admitted some shortcomings in the level of service it provided and has set aside £400m to compensate affected small business owners . The Hockins ran London and Westcountry Estates, a commercial property business based in Plymouth, with hundreds of small business tenants across 27 business parks. ...
Bankruptcy risk as ‘desperate’ councils play the property market image
Source : Guardian [Read Article] Saturday 29th of April 2017 10:10:17 PM
....Desperate councils risk being plunged into an Icelandic-style financial crisis after investing £1. 5bn in the commercial property market, according to Sir Vince Cable, former business secretary. ...
Snap election delays £300m relief package for small businesses image
Source : Guardian [Read Article] Saturday 22nd of April 2017 09:48:24 AM
....Business properties are usually revalued every five years but this was delayed by two years as a result of the economic downturn. The last revaluation, which came into effect in 2010, was based on property values from 2008 which explains why some firms have seen a sharp rise in their business rates, which are based on the value of commercial property. ...
UK banks asked to draw up plans to show they are prepared for Brexit image
Source : Guardian [Read Article] Monday 27th of March 2017 09:26:41 AM
.... Consumer credit now poses a greater risk than buy-to-let lending to landlords, which has cooled over the past year. Risks from Britain’s commercial property sector have also been reduced after a fall in prices, the FPC said. ...
Council tax bills to rise in nine out of 10 English local authorities image
Source : Guardian [Read Article] Sunday 26th of March 2017 11:01:43 PM
....Ferris Cowper said the local authority had taken “balanced risks” in bucking the national trend and proving “there is a completely different way of running the public sector”. He said East Hampshire had been able to make savings in part by making large investment in commercial property including the pursuit of a £35m investment programme. ...
Southwold: welcome to the town where business rates are set to rise 177% image
....”. In the past five years chains have arrived, and commercial property developers began demanding unheard of rents. ...
'The pips are squeaking!' image
Source : BBC [Read Article] Friday 24th of February 2017 09:44:16 PM
Paris, Frankfurt, Vilnius: how EU cities are vying for London's bankers image
Source : Guardian [Read Article] Tuesday 21st of February 2017 06:00:11 PM
.... Insurance companies in particular have already begun setting up subsidiaries, and Ireland’s Industrial Development Agency says more than 100 financial services companies have shown interest. It, too, has its drawbacks: the city suffers from a serious shortage of quality residential and commercial property for rent. ...
Small shops recoil in the face of business rates that will more than double image
Source : Guardian [Read Article] Saturday 18th of February 2017 04:00:05 PM
....”. Businesses in Southwold are facing this increase because the rental value of commercial property in the town has been increased dramatically in the latest revaluation by the Valuation Office Agency (VOA). ...
Business rates rise is biggest issue for small firms in London image
Source : Guardian [Read Article] Friday 17th of February 2017 12:01:17 AM
.... It has become one of the Treasury’s biggest sources of income, bringing in nearly £29bn last year. The tax is calculated via the rental value of commercial property and the annual rate of inflation. ...
Shops 'face perfect storm of rising costs and falling spending' image
Source : Guardian [Read Article] Monday 2nd of January 2017 05:57:34 PM
. Shops in Britain face a perfect storm of rising costs and falling consumer spending in 2017, one of the world’s leading commercial property agents has warned, raising the possibility of more closures after the demise of BHS last year. ...
UK factories wary of sterling's fall and rising costs in new year image
Source : Guardian [Read Article] Monday 26th of December 2016 04:49:56 PM
....The business group wants more help for firms to offset the pressures from the Brexit process, which has already shown signs of slowing business investment and knocking consumer confidence. Thiru highlighted business rates, a tax that firms pay on their commercial property, as one cost that could be lowered by the government. ...
Royal family's property arm confirms £100m West End development image
Source : Guardian [Read Article] Wednesday 21st of December 2016 08:44:24 AM
. The royal family’s commercial property arm will press ahead with a £100m West End development that had been placed under review following the UK’s decision to quit the EU. ...
UK office construction forecast to plunge after Brexit vote image
Source : Guardian [Read Article] Tuesday 6th of December 2016 02:29:49 PM
....”. Several commercial property funds suspended trading in the summer to stop withdrawals from panicking investors fearing a collapse in property values, but all funds have since re-opened. ...
Revealed: Coutts managed tax haven firms for controversial clients image
Source : Guardian [Read Article] Thursday 1st of December 2016 11:01:45 AM
.... Taurus Estates Limited was set up the following year. Crescent had held shares but became dormant, while Taurus held a bank account with Coutts Zurich, a commercial property and seven residential apartments in London, Coutts explained in emails to Mossack Fonseca. ...
RBS fails Bank of England stress test image
Source : Guardian [Read Article] Wednesday 30th of November 2016 09:01:18 AM
....As the Bank announced the results of its third annual stress tests it warned of a “challenging period of uncertainty around the domestic and global economic outlook”. Its financial stability report, a half-yearly update on risks to the financial system, listed domestic risks which include the uncertainty created by the Brexit vote, the commercial property sector, high level of debts in UK households and the potential vulnerability of the economy to a reduction in foreign investors buying UK debt. ...
Sports Direct auditor under investigation over company's family deal image
Source : Guardian [Read Article] Monday 28th of November 2016 10:58:42 AM
....John Ashley, a computer science graduate, built Sports Direct’s IT systems from scratch after joining his brother’s business in 1989. Mike Ashley also attracted criticism for putting his daughter’s boyfriend in charge of the company’s property team despite his lack of experience in commercial property. ...
Business rate hike may force UK's shops to raise prices image
Source : Guardian [Read Article] Sunday 20th of November 2016 06:03:24 PM
....Business rates have become controversial in the retail industry and have been blamed for the malaise on Britain’s high street. The tax is based on the value of commercial property and the annual rate of inflation, but retailers claim it takes no account of financial performance and they are overly burdened by the levy because they rely so heavily on property. ...
Move over, Manchester – Midlands motor Birmingham is setting the pace image
Source : Guardian [Read Article] Thursday 10th of November 2016 06:01:24 AM
.... HSBC will occupy a building at the Arena Central development in the convention quarter overlooking Broad Street, where city centre living took off in the late 90s. Ashley Hudson, Knight Frank’s head of Birmingham commercial property, said even before HS2 is built Birmingham is benefiting from being distinct from but relatively close to London, which is 120 miles away. ...
Property funds back in business after Brexit vote closures image
Source : Guardian [Read Article] Saturday 24th of September 2016 06:00:25 AM
. The doors are reopening on the £35bn of investors’ money locked in commercial property funds, after they were suspended in the wake of the Brexit vote when panicking investors feared a collapse in values. ...
House prices pause for breath post-Brexit, say surveyors image
Source : BBC [Read Article] Wednesday 10th of August 2016 11:18:27 PM
....The surveyors said new buyer inquiries, home sales and new instructions all fell over the period. But a separate survey indicated renewed confidence in commercial property. ...
How to boost YOUR pension income and maximise retirement savings image
Source : Daily Express [Read Article] Wednesday 10th of August 2016 03:57:00 PM
.... "While still the right course for many people, especially those with medical or lifestyle factors that can enhance rates, for others drawdown will start to look more and more appealing. “For retirees planning on using drawdown, a well-balanced investment approach, combining high-quality international and domestic equities, fixed interest bonds and potentially an element of commercial property, is likely to yield far better outcome than cash in the long run. ...

Savills UK commercial property fees slump 23pc as Brexit hits market
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Source : Telegraph [Read Article] Tuesday 9th of August 2016 08:38:13 AM
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FTSE 100 hits 14-month high at 6,851 points image
Source : BBC [Read Article] Tuesday 9th of August 2016 07:50:37 AM
....Shares in estate agent Savills rose 0. 7% even though it said the uncertainty surrounding the EU referendum led to profits at its UK commercial property business halving in the first half of the year. ...

Value of commercial property down 3.3pc after Brexit vote
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Source : Telegraph [Read Article] Monday 8th of August 2016 03:34:37 PM
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Land Securities boss warns of subdued demand for commercial property
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Source : Telegraph [Read Article] Thursday 21st of July 2016 09:00:53 AM
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Related to :
Bank of England leaves UK interest rates on hold at 0.5% image
Source : Guardian [Read Article] Thursday 14th of July 2016 11:20:25 AM
.... In the minutes of its July meeting, the MPC said that without a return to more normal conditions “most members of the committee expect monetary policy to be loosened in August”. The Bank warned that it expects “sizable falls” in commercial property values in the coming months and also revised down the outlook for house prices. ...
Aberdeen lifts property fund suspension image
Source : BBC [Read Article] Wednesday 13th of July 2016 11:13:23 AM
. Aberdeen Asset Management has lifted the suspension of its multi-billion UK commercial property fund. ...
Bank of England was warned about Brexit property fund problems image
Source : Guardian [Read Article] Tuesday 12th of July 2016 09:04:33 AM
. The Bank of England was warned of the possibility that commercial property funds may be suspended because of the rate of withdrawals prompted by the Brexit vote. ...
Is property still as safe as houses after Brexit? Home prices targeted amid leave warnings image
.... Britons bravely ignored the scare tactics to vote for independence, but many will be nervous in the troubled aftermath of the vote, which has seen the share price of housebuilders, such as Barratt Developments, Persimmon and Taylor Wimpey plunge. Last week, Aviva, M&G, Standard Life and others suspended trading in their commercial property funds after investors rushed for the exits, adding to the sense of alarm even though these do not invest in residential property. ...
Property fund turmoil continues as three more firms cut value image
Source : Guardian [Read Article] Thursday 7th of July 2016 06:42:23 PM
. Shopping centres, office blocks and warehouses worth up to £5bn could be put up for sale as the turmoil in the UK commercial property sector prompted by the Brexit vote forces fund managers to revalue their portfolios or temporarily prevent investors withdrawing their savings. ...
L&G adds to pain for UK property fund investors image
Source : BBC [Read Article] Thursday 7th of July 2016 11:12:24 AM
.... . Investors are worried that a move to leave the European Union will send commercial property prices tumbling. ...
More property funds suspended as Brexit tremors continue in the City image
Source : Guardian [Read Article] Wednesday 6th of July 2016 11:29:00 PM
....Another fund Aberdeen Asset Management said it was reducing thedealing price by 17% and would be suspended until Thursday. The pressure on the commercial property sector – which had enjoyed a 40% rise in prices from 2009 until the start of this year – came after the pound hit fresh 31-year lows, and shares in London also fell. ...
Fear factor behind property fund withdrawals, say experts image
Source : BBC [Read Article] Wednesday 6th of July 2016 02:29:19 PM
. The fear factor is causing investors to withdraw money from commercial property funds, according to one of the City's senior fund managers. ...
Property market Brexit effect is simply short-term blip, say analysts image
Source : Daily Express [Read Article] Wednesday 6th of July 2016 09:22:00 AM
....The funds affected are “open-ended” which means if investors withdraw their money then fund managers have to sell assets to cover the cost. However, these funds invest in commercial property, such as office blocks, shopping centres and warehouses, which are “illiquid” meaning they often cannot be sold in a hurry to meet the cost of investor redemptions. ...
M&G and Aviva suspend property funds following Brexit vote image
Source : BBC [Read Article] Tuesday 5th of July 2016 12:36:54 PM
. M&G Investments has followed two major finance firms and suspended trading in the UK's biggest commercial property fund following the Brexit vote. ...
Boost for first-time buyers as fears of house price dip sparks £2.9bn property fund freeze image
.... "Property does offer diversification, and a reasonable yield compared to government bonds, but investors must be willing to accept high costs, and a lack of liquidity when the market turns down. "He added: "Given the outflows the sector seems to be experiencing, this could well put downward pressure on commercial property prices. ...
Bank of England warns Brexit risks beginning to crystallise image
Source : BBC [Read Article] Tuesday 5th of July 2016 10:21:56 AM
....What they didn't seem so worried about was the resilience of the whole system, which can be a much more toxic issue - as anyone who went through the 2008 crisis will attest. The FPC said there were risks apparent in the commercial property market, with vital foreign inflows falling by 50% in the first three months of 2016. ...
Standard Life shuts property fund amid rush of Brexit withdrawals image
Source : Guardian [Read Article] Monday 4th of July 2016 06:06:35 PM
.... Hargreaves Lansdown showed that of the 39 fund sectors available, UK companies and property were the least popular in the week since the referendum. Adrian Lowcock, head of investing at AXA Wealth, said the suspension brought back into focus the issues with investing in open-ended commercial property funds. ...
Standard Life suspends trading in UK property fund image
Source : BBC [Read Article] Monday 4th of July 2016 05:19:11 PM
.... . The move comes after Standard Life Investments, the insurer's fund management arm, wrote down the value of the fund by 5% last week, saying the Brexit vote had "negatively impacted" valuations for UK commercial property. ...
Major Singapore bank to suspend lending for London properties over EU leave vote image
....Investors are also fearful that Brexit will trigger a new property crash, as lower growth and higher uncertainty depress demand. A number of high-profile deals in the commercial property sector are now in doubt, according to the trade publication Property Week, with buyers expected to try to renegotiate on price. ...
Singapore bank halts lending for London properties over Brexit vote image
Source : Guardian [Read Article] Thursday 30th of June 2016 08:03:06 AM
....Investors are also fearful that Brexit will trigger a new property crash, as lower growth and higher uncertainty depress demand. A number of high-profile deals in the commercial property sector are now in doubt, according to the trade publication Property Week, with buyers expected to try to renegotiate on price. ...
Brexit: Singapore bank UOB suspends London property loans image
Source : BBC [Read Article] Thursday 30th of June 2016 03:28:27 AM
.... The Singapore dollar has gained about 10% since the referendum. Singaporeans were the top Asian buyers of UK commercial property in 2015, according to consultancy Knight Frank. ...
Sterling swings as polls suggest UK heading for EU exit image
Source : Guardian [Read Article] Monday 6th of June 2016 03:47:24 PM
....”. Before the recent falls in sterling, the currency had already declined by 10% against the dollar as the outlook for the UK economy looked uncertain and foreign investment slowed, especially in commercial property. ...
Bank of England governor rejects accusations of bias over EU referendum image
....Earlier this month, the Bank of England gave a stark warning that a vote to leave the EU could push the economy into recession. The report said the economy had already begun to suffer the effects of the uncertainty surrounding the referendum outcome, pushing down the value of sterling and discouraging commercial property investment in the UK. ...
Uncertainty in the property market gives rise to the Brexit clause image
Source : Guardian [Read Article] Friday 20th of May 2016 10:40:11 PM
....With a month to go until the EU referendum, there are signs that property investors have growing concerns about the possible impact of a leave vote. City law firm Nabarro said on Friday that commercial property investors were adding “Brexit clauses” to contracts that will allow them to pull out of deals if the UK votes to leave on 23 June. ...
Pension advice for the self-employed - how to plan for retirement image
Source : Guardian [Read Article] Thursday 19th of May 2016 06:15:00 AM
....Sean McCann, a chartered financial planner at NFU Mutual, explains: “A self-invested pension plan (Sipp) allows the owner to dictate where the funds are invested. Instead of giving their fund to an investment company, they could use their pension to invest in commercial property or land to help their business expand. ...
Rents and property values would drop after Brexit, say landlords image
Source : Guardian [Read Article] Wednesday 18th of May 2016 11:01:09 PM
....Commercial property in London has already been hit by uncertainty over a Brexit vote. Over the past week M&G, Standard Life and Henderson have all changed the pricing basis of their commercial property funds, which has the effect of cutting values by 5-6%, following large outflows. ...
Britain under the hammer: building drop knocks growth image
Source : Daily Express [Read Article] Saturday 14th of May 2016 11:02:00 AM
....Howard Archer, chief UK economist at IHS Global Insight, added: “It is notable that the purchasing managers indicated that clients are unwilling to commit to new contracts or expand existing work. “The Bank of England’s monetary policy committee has observed that commercial property transactions have slowed amid increased uncertainty. ...
Data will show UK at standstill: Growth prospects set to be hit by double whammy image
....”. According to economists, the looming referendum on Britain’s continued membership of the EU and the uncertainty it has caused is weighing on economic growth, with the Purchasing Managers’ Index surveys for construction, services and manufacturing below expect­ations, while overseas demand for commercial property has almost evaporated. ...
Brexit fears putting overseas firms off UK commercial property, says report image
.... Housebuilders have long struggled with shortages of skilled workmen, which has driven up construction costs. Some 43% of RICS member firms said Britain’s withdrawal from the EU would have a negative impact on commercial property and only 6% saw a positive impact, with the rest seeing a limited impact (38%) or replying ‘do not know’ (12%). ...
Brexit is a risk to UK growth, says Carney image
Source : Guardian [Read Article] Tuesday 19th of April 2016 06:44:51 PM
....Mark Carney said it was reasonable to argue that a combination of a fall in the pound, an increase in the costs of funding the annual deficit and higher inflation would depress growth in the aftermath of a no vote in the EU referendum on 23 June. Speaking to the economic affairs committee of the House of Lords, he said the impact of the current uncertainty was already being felt in the fall in the number of commercial property transactions, while jittery markets had sent the pound skidding down 10% since the beginning of the year. ...
UK housebuilding booms but construction sector flags image
Source : Guardian [Read Article] Friday 15th of April 2016 12:00:58 PM
....On Thursday, the Royal Institution of Chartered Surveyors (RICS) warned that the 23 June referendum and recent changes to stamp duty had created a climate of uncertainty that could lead to falling sales and prices in the housing market. The Bank of England also joined the chorus this week and noted signs that uncertainty relating to the EU referendum had begun to weigh on certain areas of activity, as some decisions, including those on capital expenditure and commercial property transactions, were being postponed. ...
Scaremongering? Bank of England blames BREXIT FEARS as it keeps interest rates the same image
....Despite the base rate being held at near rock bottom for the last seven years and there being little evidence of any great impact ahead of the EU vote, the Bank’s Monetary Policy Committee (MPC) claimed today uncertainty over the referendum was part of the reason for the stagnating economy. Released minutes show the committee believes some decisions, including business investment and commercial property purchases, are being delayed subject to the outcome of the vote. ...
Bank warns EU vote may hit growth image
Source : BBC [Read Article] Thursday 14th of April 2016 11:18:20 AM
.... . "There are some signs that uncertainty relating to the EU referendum has begun to weigh on certain areas of activity, as some decisions, including on capital expenditure and commercial property transactions, are being postponed pending the outcome of the vote," policymakers said in their minutes of the meeting. ...
Source : Reuters [Read Article] Thursday 14th of April 2016 11:04:53 AM
....". For the first time, rate setters said that they had seen signs that the upcoming vote was affecting business decisions, with a striking fall in commercial property sales, delayed investment and fewer company listings. ...
Source : Reuters [Read Article] Thursday 14th of April 2016 11:04:53 AM
....In all, the minutes mentioned the referendum 17 times, compared with eight times last month. For the first time, rate setters said that they had seen signs that the upcoming vote was affecting business decisions, with commercial property sales falling, investment delayed and fewer company listing. ...

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