All Property Week articles in 02 May 2008
View all stories from this issue.
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Online
Aberdeen buys Goodman Property Investors
Aberdeen Asset Management has bought Goodman Property Investors from the Goodman Group for £89m to boost its UK platform.
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News
150 estate agent branches closing per week
Estate agencies are closing branches at the rate of 150 a week, with 4,000 job losses since the start of the year. Daily Telegraph
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Experts foresee more house price falls
Most economists believe house prices will continue to drop this year although they differ on the extent of likely declines. Financial Times.
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Repossessions 'to hit 17 year high'
The number of properties being repossessed has soared as the effects of the credit crunch push court orders from banks and building societies to record highs, figures will show this week. The Independent
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Bellway eyes Redrow
The prospects of mergers in the troubled construction sector appeared to rise over the weekend, after news emerged that Bellway, one of Britain’s biggest housebuilders, had made an approach to smaller rival Redrow to create a £1.2bn company. Financial Times, Daily Telegraph (Monday)
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Barratt Developments says no to Apollo offer
Apollo, the American private equity group, is understood to have approached Barratt Developments to offer to buy a stake in the troubled UK housebuilder. The Times
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Invista sells portfolio
Invista Real Estate Investment Management said that Celsius European Holdings Sarl, its 50 per cent owned joint venture, had completed the sale of a portfolio of 23 investment properties for €170m (£133m). The buyer, Clerical Medical Non Sterling Property Company Sarl, will pay €168 million cash and the remainder in ...
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Legacies doubled by housing boom
The average inheritance received by Britons has more than doubled in six years on the back of the housing boom, according to research. The size of a typical inheritance has soared from £20,000 in 1998 to £44,000 in 2004, according to a report by the International Longevity Centre, a think-tank. ...
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US banks intensify crunch with tighter lending
US banks have tightened lending standards in near record numbers this year, a Federal Reserve report indicated yesterday, suggesting the credit squeeze in the economy has continued to intensify. Financial Times
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Countrywide plunges warning to BofA
Shares in Countrywide Financial plunged more than 13% after an analyst said Bank of America should walk away from its agreed $4bn deal to acquire the troubled US home mortgage lender. Financial Times
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Paragon offers 'sign and service' role to banks
Buy-to-lety mortgage specialist Paragon has opened discussions with a number of Britain’s clearing banks to sign and service mortgages for them. Daily Telegraph
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CLS chief exec resigns due to non-dom tax rule change
CLS Holdings chief executive Per Sjöberg has resigned, in part because of the government’s changes to non-dom tax rules.
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Best leasing agent race hots up
DTZ head of London markets John Forrester and CB Richard Ellis central London retail expert David Kenningham are among the big guns making strong showings in the battle to be named Britain’s best leasing agent by readers of Property Week.
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Clerical Medical’s €170m French splash
Clerical Medical has purchased a French property portfolio from a joint venture between Invista and Glenn Maud’s Propinvest, for €170m (£130m).
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Unite gets green light in Oxford and Edinburgh
The London listed student housing operator has won planning consent for 604 beds in its schemes at Slade Park in Oxford and at Chalmers Street in Edinburgh. Unite is planning to spend £57m to develop both schemes.
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OnlineUK house prices see annual fall
UK house prices saw an annual fall of 0.9% in April, according to The Halifax - the UK's biggest mortgage lender.
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Hermes and Prupim lodge MK redevelopment plans
Hermes and Prupim have submitted a joint planning application for the start of a £20m redevelopment programme at the Centre:MK shopping centre in Milton Keynes.
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Cushman & Wakefield poaches Richardson from Atisreal
Cushman & Wakefield has poached Atisreal’s London head of hotels Stephen Richardson, to lead its Europe, Middle East and Africa hospitality valuations division.
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BPF slams ‘absurd’ criticisms of investment in rental sector
The British Property Federation has accused the National Landlords Association of ‘protectionism’ over its ‘absurd’ criticisms of plans for a US-style branded rental sector.
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Goodman launches second European 'fund of funds'.
Goodman Property Investors has launched its second European fund of funds.
