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July 1, 2008
Barratt close to financing deal
Permalink: Barratt close to financing deal
by Kay Murchie
Like many of its rivals, housebuilder Barratt Developments, has been affected by the slide in house prices and house sales and soaring mortgage rates.
As a result, the struggling housebuilder is close to securing a rescue refinancing with lenders that will relax its ...
June 29, 2008
£500m cash injection for Taylor Wimpey
Permalink: £500m cash injection for Taylor Wimpey
by Kay Murchie
Housebuilder Taylor Wimpey is close to receiving a huge cash injection in a bid to shore up its balance sheet.
The rescue is being co-ordinated by investment bank UBS, and JP Morgan Cazenove.
The agreement, which is believed to raise as much as ...
June 27, 2008
Seven in 10 find faults in new-builds
Permalink: Seven in 10 find faults in new-builds
by Kay Murchie
According to research by the Office of Fair Trading (OFT), 70% of buyers of new-build homes have found faults with their new property.
The OFT commissioned a survey of 1,000 people in Britain who had bought a newly-built home in the ...
£150m office development planned for Derby city centre
Permalink: £150m office development planned for Derby city centre
by Lin Freestone
Norseman Investments, a Derbyshire developer with more than 35 years experience, is planning a £150m office development which could bring millions of pounds of investment into the centre of Derby.
The development on a three-acre site in the heart of ...
June 26, 2008
GVA Grimley reports on Liverpool’s office market
Permalink: GVA Grimley reports on Liverpool’s office market
by Lin Freestone
In recognition of Liverpool's year as European Capital of Culture, GVA Grimley has prepared a report on the state of the office market in the centre of the city. The report reflects on the office market in terms of take-up, ...
June 25, 2008
Developer starts building 37 new homes in Formby
Permalink: Developer starts building 37 new homes in Formby
by Lin Freestone
A Southport-based property developer, Marcel Zachariah, has received backing from the Royal Bank of Scotland’s property finance team in Liverpool to build 37 new homes in Formby.
The £14m development by York Homes will feature a mix of three-and four-bedroom ...
June 24, 2008
Ten de-licensed pub buildings for sale in the north of England
Permalink: Ten de-licensed pub buildings for sale in the north of England
by Lin Freestone
Enterprise Inns is to dispose of property worth a total of £3m. The sales are being handled by the Newcastle office of Sanderson Weatherall. The ten pubs in the portfolio have all been de-licensed, making them ...
National Housing Federation’s £1bn proposals under consideration
Permalink: National Housing Federation’s £1bn proposals under consideration
by Lin Freestone
As housebuilders and developers grapple with the problem of thousands of unsold, empty properties, some of which are only part-built, the National Housing Federation is proposing that the government releases £1bn of public funding to ease the situation.
The National Housing ...
June 23, 2008
South-east expansion for Regalpoint Developments
Permalink: South-east expansion for Regalpoint Developments
by Lin Freestone
Regalpoint Developments, a Sevenoaks-based company specialising in new build, houses and apartments, has acquired a major portion of the portfolio of Silver Homes of Crowborough.
A £20m rescue package for the restructuring of Silver Homes’ sites in east Sussex and Surrey fits well ...
Investment in 169 buy-to-let apartments in Southampton
Permalink: Investment in 169 buy-to-let apartments in Southampton
by Lin Freestone
In a surprising move following the decision of Wilson Bowden not to proceed with the construction of two apartment blocks in Southampton, a property investor has bought 169 apartments in a new £110m development in the city.
Delph Property Group, a ...
Speculative Grade A office development moves forward in Nottingham
Permalink: Speculative Grade A office development moves forward in Nottingham
by Lin Freestone
Detailed planning consent has been granted by Nottingham City Council for a 15,000 sq ft Grade A office development on the site of an established office location on the south-western fringe of Nottingham’s city centre.
Ultimate Estates, a developer ...
June 20, 2008
Bank of Ireland backs £100m retail property deal
Permalink: Bank of Ireland backs £100m retail property deal
by Lin Freestone
A £100m property investment deal funded by the Bank of Ireland is a good indication that banks are become less wary about backing major projects.
The Manchester-based independent property group, Modus, has invested £100m in undisclosed shopping centre assets, and ...
June 18, 2008
Countryside Properties places apartment development on hold
Permalink: Countryside Properties places apartment development on hold
by Lin Freestone
Following the decision by Countryside Properties to cut in half its development programme in the north of the country, the company is to place on hold its plans to build 600 apartments in Preston.
No start date has been set for ...
Housing starts in the UK are the lowest since 1945
Permalink: Housing starts in the UK are the lowest since 1945
by Lin Freestone
According to the latest construction output forecasts published by the Construction Products Association, there has been a 27% fall in new housing starts in the UK this year. The figure of 147,000 new housing starts is the ...
June 16, 2008
Work starts on mixed-use development in Penrith’s town centre
Permalink: Work starts on mixed-use development in Penrith’s town centre
by Lin Freestone
An all Cumbrian team of designers, developers and contractors started work today on the revitalisation of Penrith’s town centre.
The project is a joint venture between developer Lowther Manelli Properties and Eden District Council.
After five years of careful ...
British Land sells The Peacocks for £116m
Permalink: British Land sells The Peacocks for £116m
by Lin Freestone
British Land has exchanged contracts with a private investor for the disposal of The Peacocks, its shopping centre in Woking, for £116m. This reflects a net initial yield of 5.75% and is in line with the March 2008 valuation.
The ...
Government’s new homes target unlikely
Permalink: Government’s new homes target unlikely
by Kay Murchie
The House Builders Association has said that the Government’s target to build 240,000 new homes this year will not be reached.
The organisation said just 110,000 new homes are likely to be built by end of 2008 while just 80,000 will be built ...
June 13, 2008
Funding package arranged for residential tower in Bristol
Permalink: Funding package arranged for residential tower in Bristol
by Lin Freestone
The decision by a Bristol law firm to relocate its headquarters to a new office building in Temple Quay has acted as a catalyst for the regeneration of the entire waterfront of the area in Bristol.
Burges Salmon has ...
June 12, 2008
Thinkproperty.com becomes ITV Local’s search partner
Permalink: Thinkproperty.com becomes ITV Local’s search partner
by Lin Freestone
ITV Local, ITV’s online local information website, has teamed up with ThinkProperty.com, which will become the website’s official property search partner. ThinkProperty.com is part of Guardian News Group.
Visitors to the property channel at ITV Local (www.itvlocal.com) will soon be able to ...
Persimmon demoted from FTSE 100
Permalink: Persimmon demoted from FTSE 100
by Lin Freestone
Persimmon, the UK’s largest housebuilder by value, has fallen from its position in the FTSE 100, which was achieved in 2005, after its shares lost 3%.
This came in the middle of a dramatic week of financial woes for the country’s house ...
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