All Property Week articles in 02 November 2007
View all stories from this issue.
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Land Securities set to de-merge Trillium
Land Securities is set to demerge its Trillium outsourcing business into a separately listed company valued at more than £1 billion. The Times.
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Mapeley posts pre-tax loss
Mapeley reported a pre-tax loss of £18.6 million for the first nine months of the year, against a £42 million profit last time. TheTimes, Daily Telegraph
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New Rock borrowing slows
Northern Rock’s new borrowing from the Bank of England appeared to slow last week. Financial Times, The Times, Daily Telegraph.
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Estate agents accused of swindling schizophrenic
A pair of estate agents fleeced a “vulnerable” schizophrenic out of money, gold, jewellery and shares worth more than half a million pounds, a court was told yesterday. The Times
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NAO hits at housing plan
A programme to rejuvenate the housing market in some of England’s most deprived neighbourhoods will come under attack today from the National Audit Office. Financial Times
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Tchenguiz seeks to trim M&B deal to revive it
Robert Tchenguiz is in talks with Mitchells & Butlers about reducing the size of their aborted £4.5bn pub property joint venture in an effort to revive the deal. The Times
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Homes at risk in North Sea surge alert
England was braced for the worst coastal flooding in more than 50 years last night, as a three-metre-high “storm surge” moved across the North Sea, putting thousands of homes at risk. The Financial Times, The Times, The Daily Telegraph.
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National Trust pays £1m to save Belfast backdrop
The National Trust has spent £1m to buy of 470 acres of Green Belt land under threat of development. Daily Telegraph
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Equest Balkan in Bucharest buy
Equest Balkan Properties, the AIM-listed European property developer, has completed a €37.8m (£26.3m) financing for its Vitantis retail park project in Bucharest, Romania.
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Real estate investment trusts value up 25%
The total market capitalisation of real estate investment trusts listed on the world’s stock markets increased by 25% to £367bn over the year to June 30, according to Ernst & Young. The UK REIT market, which began on January 1, is the fourth largest in the world, worth some £28bn. ...
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London & Stamford up on debut
London & Stamford, the property developer that aims to buy undervalued assets, gained 2p on its first day of trading to reach 102p. The Times
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Experian sees two year downturn
The housing market faces two years of blight from the impact of the global credit squeeze, with prices falling continuously over much of southern England, a report forecasts today. The Times, Daily Telegraph
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Redrow gloomy on sales
Redrow warned it would sell about 10% fewer houses in the first half compared with the same period last year. Financial Times, The Times, Daily Telegraph
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Morgan Stanley the latest sub-prime casualty
Morgan Stanley has said it expected fourth-quarter earnings to be reduced by about $2.5bn (£1.2bn) from a write down of its US sub-prime exposure. Financial Times, The Times, Daily Telegraph
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Rock looks to Asia as deposits tumble
Northern Rock is thought to have contacted Asian banks such as Industrial and Commercial Bank of China and Bank of China as it stepped up its efforts to find a buyer. Financial Times. The Times
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City regions named
Thirteen areas of England that could win new powers to boost their prosperity and development were named yesterday. Financial Times
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Olympic stadium budget pledge
Contingency funding has been set aside for construction of the Olympic stadium in the event of cost overruns, the Olympic Delivery Authority said yesterday as London 2012 organisers unveiled the design for the centrepiece of the games. Financial Times.
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Tube deal primed for private sector
Transport secretary Ruth Kelly has refused to rule out setting up a new public-private partnership for the two-thirds of the London Underground maintained by collapsed Metronet Rail consortium. Financial Times.
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RICS says buy-to-let only for wealthy
Only the wealthy can afford to become buy-to-let landlords because most investors have been priced out of the market, the Royal Institution of Chartered Surveyors said yesterday. Financial Times
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Bovis urges rate cut on house price fall fears
Bovis Homes has said that full-year house sales and prices would be lower than last year and called on the Bank of England to bring down interest rates to stimulate the market. Financial Times, The Times, Daily Telegraph, Indepednent
