All Property Week articles in 11 April 2008
View all stories from this issue.
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Demand levels ‘critical’ for Manchester’s office market
Demand from occupiers seeking bigger offices will be ‘critical in helping to drive absorption levels’ in Manchester’s office market this year, says Colliers CRE.
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UK hotel industry faces challenging year
The UK hotel industry will see slower growth this year after an ‘impressive 2007’ but should still’ weather the current global economic storm’, according to a report published today.
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Planning reforms 'will cost £190m' says Tesco
Tesco has claimed that Competition Commission's proposed changes to Britain’s supermarkets planning system will cost the industry almost £190m. Sunday Telegraph
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NewsBuy-to-let investors to be hit
Buy-to-let landlords will have to raid their savings and inject extra capital into their homes, under an obscure clause in their mortgage contracts, if house prices continue to fall. Daily Telegraph
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New chapter for Café Royal
The Café Royal on London’s Regent Street, once a haunt of writers and artists such as Oscar Wilde and James McNeill Whistler, is to be turned into a luxury hotel to form the centrepiece of a wider £750m makeover of the area. Financial Times
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NewsParents set for higher re-mortgage cost
Parents could find they are no longer able to use their home as a cash machine for the kids as lenders become more reluctant to allow homeowners to gear up against their properties. Sunday Times
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First-time buyers to face higher costs
First-time property buyers face a substantial rise in interest rates and mortgage arrangement fees compared with this time last year, according to analysis by the mortgage advice website mform.co.uk. Independent on Sunday
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Tchenquiz takes aim at M&B board
Robert Tchenguiz, the billionaire pubs and property tycoon, and a host of fellow investors in Mitchells & Butlers (M&B), the embattled bars operator, will seek to oust chief executive Tim Clarke unless the company agrees to unlock billions of pounds from its real estate portfolio. Sunday Telegraph, Financial Times
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Reduced choice drives out buyers
Product comparison site Moneysupermarket.com says that, while borrowers could choose from 30,107 mortgages last August, now there are just 7,121. The Observer.
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Mortgage lending could halve
A stark warning to home buyers that mortgage lending could halve this year have prompted a pledge from Alistair Darling to do 'everything I possibly can' to restore normality to the housing market. Financial Times (Saturday)
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Flood insurance warning
A fresh agreement that the insurance industry will continue to provide cover to homeowners and businesses at risk of flooding is by no means guaranteed, insurers have warned. Finncial Times (Monday)
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Lending crisis threatens Olympic programme
The £9.3bn London Olympic budget is under pressure as the financing costs of key facilities rise sharply. The Observer
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Lenders kill off cheap trackers
Lenders in effect killed off cheap two-year trackers for new borrowers last week, with the average rate now at 7.26% - above Halifax’s benchmark standard variable rate of 7%. Sunday Times
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Britons set for Spanish rebate
Thousands of Britons who profited by selling property in Spain between March 2004 and December 2006 could be owed a 20% tax rebate from the Spanish government. Refunds could total more than £50m, according to a Spanish lawyer, and translate to about £11,000 for each claimant. Sunday Times
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OnlineWal-Mart faces ‘really big challenges’ says former finance director
The former chief financial officer of Wal-Mart said the world’s largest retailer faced ‘really big challenges’ if it was to maintain its success.
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Invista buys remaining 50% of Invista Castle
Invista Real Estate Investment Management has bought the remaining 50% interest in Invista Castle from joint venture partner Bank of America.
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OnlineHave Nick Leslau work for you for four days
Property tycoon Nick Leslau could soon be sharing his insight and business acumen with a Property Week reader.
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Ireland’s Cosgrave shops on Oxford Street
Cosgrave Property Group has bought the Zara store on London’s Oxford Street for around £44m from Scottish Widows Investment Partnership.
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Engel East Europe’s sale plans stopped by lawsuit
AIM-listed company Engel East Europe has had to halt plans to sell its non-core operations in Canada and Germany after a lawsuit was filed by a local property company over the disposal.
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£20m Stirling retail park to go ahead
Retail developer Forrest Developments has been granted planning consent for its £20m Castle Retail Park scheme in Stirling, Scotland.
