All Property Week articles in 02 November 2007 – Page 10
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Ciref and Modus to create £1.5bn retail joint venture
AIM-listed investor and developer Ciref said this morning it planned to raise between £20m and £30m of equity for investment in a new £1.5bn joint venture with Brendan Flood’s Manchester-based Modus Properties.
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F&C funds suffer NAV falls
Two F&C-managed listed property investment trusts revealed weak third-quarter figures this morning.
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OnlineJones Lang LaSalle financial results top expectations
Jones Lang LaSalle has reported better-than-expected third-quarter profits.
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Staff exodus fuels Erinaceous crisis
Erinaceous, the troubled property services group has lost 20 staff to Europe’s largest independent insurance intermediary Towergate. Daily Telegraph
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Draconian earthquake law shakes Japanese construction industry
A poorly explained and draconian new law demanding tougher earthquake-proofing of new buildings has triggered an unprecedented slump in Japan’s construction market and may push the country into technical recession. The Times.
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Palladian house closed to publ
Sherborne House, an 18th-century Palladian building in Dorset, is expected to be closed to the public and sold to a private buyer. The Times
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Credit squeeze hits Rok
Shares in Rok fell 11% after the construction, and development group warned the credit squeeze had hit demand from institutional investors in the property market.
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IPD index shows first ever negative return
The IPD UK Quarterly index has delivered the first negative total return in its history. Financial Times
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Taylor Wimpey hurt in US
Taylor Wimpey warned that it would make further provisions in the US as the country’s worst housing downturn for 16 years continued to bite. The Times, Daily Telegraph The housebuilder, formed this year by the merger of George Wimpey and Taylor Woodrow , said it would make provisions for 15% ...
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Northern Rock round-up
Northern Rock is considering a possible break-up of the bank in a move designed to widen the appeal of its auction process and attract new bidders. Financial Times, The Times, Daily Telegraph, The Independent
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Christie’s to sell modernist house
Brent Harris, a managing director of Pacific Investment Management Co, is to offer his California house for as much as $25m (£12.5m) at a contemporary art sale by Christie’s International next May. Financial Times
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Credit crunch fails to stop house price rises
House prices rose 1.1% in October, the Nationwide’s survey showed yesterday but many saw the unexpectedly strong monthly gain as an anomaly among signs of a marked slowdown in the housing market. Financial Times, The Times, The Guardian
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Supermarket land sales to increase competition
A Competition Commission proposal to make competition central to planning law reforms may help Tesco’s rivals gain a precious foothold in areas where they have previously struggled to make an impact. Financial Times, The Times, Daily Telegraph
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Tube line bidder unlikely
The chances that a private bidder will emerge for Metronet Rail, the failed London Underground contractor, have receded after its administrator pulled out of a process that could have provided £1bn in extra funding. Financial Times
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CGT rethink 'not enough'
More generous tax incentives to encourage investment in small and high-risk companies are being seriously considered by the Chancellor of the Exchequer, to help mitigate the impact of capital gains tax changes. Financial Times, Daily Telegraph
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IPD shows first ever negative quarterly return
The Investment Property Databank quarterly index showed a negative total return for the first time since it started in December 2000.
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Invista trust suffers 8% NAV fall
Invista Foundation Property Trust has suffered a 7.8% drop in its net asset value in the third quarter.
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BPF calls on planners to assist UK grocery industry
The British Property Federation has called on local planners to help pre-empt some of the concerns raised in today’s Competition Commission report on the UK grocery industry.
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Fursa delivers Erinaceous EGM demand
Fursa, the hedge fund that has built up a 19% stake in troubled property services firm Erinaceous, today said it had delivered its requisition for an extraordinary meeting to oust two of the company’s founders from the board
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OnlineWestminster council leader speaks out against Crossrail tax
Westminster City Council leader Sir Simon Milton this week criticised plans to allow the London mayor to impose a tax on London businesses to pay for Crossrail.
