Property News
Intu CEO Fischel to leave as shopping centre operator suffers loss
Intu Properties announced the departure of chief executive David Fischel as the shopping centre operator swung to a first-half loss caused by a fall in the value of its estate.
London's average rent soars above £2000
Asking rents in London have increased more than anywhere else in the UK, with the monthly rate hitting £2,000 in the second quarter of 2018 as a lack of new property available in parts of the city led to the time to find renters speeding up.
Town Centre Securities reports positive trading
Town Centre Securities said it ended the financial year on a positive note as the property investor and car park operator traded in line with its expectations.
Purplebricks sees further revenue surge but losses to continue
Purplebricks said revenue could almost double again this year but the DIY estate agent's annual operating loss quadrupled after it spent more on marketing with profitability pushed back from next year to 2021.
Workspace sells Stratford site for £15m plus new business centre
Workspace has sold the residential section of its Marshgate development in London’s Olympic park for £15m.
Persimmon posts solid trading but growth slows
Persimmon announced solid trading for the first half of its financial year but business for the housebuilder is slowing.
Qatar-backed venture gets approval for Elephant & Castle scheme
A venture backed by Qatar’s sovereign wealth fund has been given the go-ahead for a contentious project to build almost 1,000 homes in London’s Elephant and Castle district.
McKay Securities reports positive momentum
McKay Securities said it had positive momentum in the first quarter as demand for its office and industrial property held up despite worries over Brexit.
St Modwen reports slight rise in first-half asset values
St Modwen Properties said 2018 had started well as the regeneration-focused property company reported a slight uptick in asset values for the first half.