All Property Week articles in 20 March 2008
View all stories from this issue.
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OnlineGovernment warns of zero tolerance of ‘commercial vandalism’
The property industry has been firmly warned by the government today that any attempt to avoid paying new empty rate bills through deliberate vandalism of properties will be met with a ‘zero tolerance’ retaliation.
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OnlineCrest Nicholson’s submits £500m Southampton Riverside plans
Crest Nicholson has submitted a planning application to Southampton City Council for the redevelopment of the former Vosper Thornycroft site in Woolston, Southampton.
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Great Portland and Liberty venture raises new finance
Great Capital Partnership, the central London joint venture between Great Portland Estates and Liberty International has agreed a new £225m debt facility.
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£4.5bn Cricklewood regeneration plans submitted
The plans for the £4.5bn regeneration of Cricklewood town centre in north London have been submitted to Barnet Council today.
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OnlineBAA's £265m property sale takes off
BAA and Morley Fund Management have sold £265m of assets from their 50:50 Airport Property Partnership to the Arora Family Trust.
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OnlineRenzo Piano designs for Central St Giles unveiled
Renowned architect Renzo Piano’s designs for the Central St Giles scheme in London’s Tottenham Court area were unveiled today.
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City development set to be cut by half
Forecasts of office development in the City of London have almost halved during the past 12 months as developers review plans amid a worsening occupier market and stagnant financing conditions. Financial Times
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Sellers asking more for houses despite slump
The stock of unsold homes is rising steadily as the mood in the housing market darkens, but the array of properties is failing to tempt buyers back as homeowners demand ever-higher prices, according to Rightmove, the property web site. The Times, The Guardian
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Builder to head planning review
The former chief executive of Barratt Developments David Pretty, is to head a new review intended to speed up Britain’s often sluggish planning system. Financial Times
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FSA takes Rock blame
The FSA will admit it made mistakes in supervising Northern Rock, although it will stop short of proposing dramatic reforms. Financial Times, Daily Telegraph
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Funds form to buy distressed US mortgages
BlackRock is teaming with hedge fund Highfields Capital Management and former executives of US mortgage lender Countrywide to launch an investment firm that will buy distressed residential mortgages. Financial Times, Independent The venture, the Private National Mortgage Acceptance Company, or Penny-Mac, is one of a growing number of funds and ...
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Value of builders slashed
The market capitalisation of the seven largest housebuilders has slumped from a total of £15bn to £8bn in the past 12 months. Financial Times (Easter Monday)
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Property Bosses seek empty rates rethink
Property industry bosses have launched a last-ditch attempt to persuade the government to reverse its decision to abolish empty property relief, arguing that it will stall regeneration of rundown areas and hit small businesses. Sunday Telegraph
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Homeowners to pay for reckless lending
Britain's homeowners face paying an extra £1.3bn a year because mortgage lenders have increased their profit margins to recoup losses from bad debts. Sunday Times
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Grainger and Helical exchange in Hammersmith
Grainger said its joint venture vehicle with Helical Bar has exchanged contracts with the London Borough of Hammersmith & Fulham for the mixed-use development of the area around Hammersmith Town Hall. Sunday Times
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Somerfield auction to proceed
The sale of Somerfield is going ahead, defying speculation that the auction had been abandoned. Sources said Robert Tchenguiz, part-owner of the £2bn supermarket chain, is still hopeful a sale can be agreed. Independnet on Sunday
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Gazit and Citi to take control of Austria’s Meinl
Israeli property company Gazit-Globe and US investor Citi Property Investors are to take control of Vienna-listed property company Meinl European Land.
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Helical Bar and Grainger exchange contracts in Hammersmith
Helical Bar and Grainger have exchanged contracts with Hammersmith & Fulham council to develop a £180m mixed use scheme.
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OnlineHammerson doubles bonus pool
Hammerson has doubled the size of its annual performance-related bonus pool for executive directors.
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Tchenguiz takes further knock
There was further bad news for Robert Tchenguiz yesterday as Mitchells & Butlers, the pub and restaurant company in which he holds a 23% stake, was savagely downgraded by a Lehman Brothers analyst. The Times
