All Property Week articles in 11 May 2018
View all stories from this issue.
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Voltaire acquires W2 Financial Solutions
Voltaire Financial Group has acquired W2 Financial Solutions and appointed W2’s founder Tony Whetstone as head of special services at the debt advisory firm.
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Unibail-Rodamco shareholders confirm Westfield deal
Unibail-Rodamco shareholders have approved the company’s proposed £18.5bn takeover of Westfield at its AGM in Paris.
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Government to consult on banning flammable cladding
Housing secretary James Brokenshire has announced plans for the government to consult on a potential ban on combustible cladding hours after the government-commissioned Hackitt report into the Grenfell fire stopped short of calling for a full ban.
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London Mayor calls in Beam Park development in Dagenham
London Mayor Sadiq Khan has used his executive powers to take control of the Beam Park Housing development in Dagenham.
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Springfield secures green light for new affordable Fife scheme
Scottish housebuilder Springfield Properties has unveiled plans to create a 140-home scheme in Ballingry near Fife, within which all the houses will be affordable.
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BPF announces Tomorrow’s Leaders Awards winners
The British Property Federation (BPF) has revealed the winners of its Tomorrow’s Leaders Awards 2018, at the annual BPF President’s Lunch.
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Malaysian funds agree heads of terms to acquire phase two of Battersea Power Station
Two Malaysian state-backed funds have agreed heads of terms to acquire phase two of Battersea Power Station in a deal that values the development at an estimated £1.6bn.
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McCarthy & Stone makes Nagwaney non-exec director
Retirement housebuilder McCarthy Stone has appointed a managing director of its largest shareholder, Arun Nagwaney, as a non-executive director.
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Green light for Moda at New York Square in Leeds
PRS developer Moda has pledged to bring “New York style renting to Leeds” having received planning permission to deliver the first phase of Caddick Development’s flagship £300m SOYO mixed-use scheme.
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Hackitt’s Grenfell review doesn't call for cladding ban - property reacts
The final report of the government-commissioned Hackitt review into the Grenfell fire tragedy has urged a “radical rethink” of the safety system, but does not push for a ban on flammable cladding.
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Bookmakers warn of shop closures as the government caps FOBT betting
Bookmakers have voiced dismay after the government announced new rules reducing maximum spending on fixed-odds betting terminals (FOBT) from £100 down to £2, saying high street outlets will be forced to close.
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Mothercare to close 50 stores - property reacts
Maternity and baby product retailer Mothercare has announced plans to close 50 stores in an attempt to turn around its “perilous” financial position.
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Carlyle acquires prime London office for 'Uncommon' brand
Alternative asset manager The Carlyle Group has acquired The Crosspoint building on Liverpool Street from Amsprop for a price believed to be in the region of £43m in an off-market transaction.
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Patrizia begins 2018 in strong position
Operating income at Patrizia more than quadrupled in the first quarter of 2018, from €9.3m (£8.1m) to €42.7m.
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Countryside whacks up dividend as cash rolls in
Housesbuilder Countryside Properties has exceeded its own expectations for the first half of its financial year, ending the period in a stronger cash position than it forecast.
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Rents and profit up as Grainger continues shift to PRS focus
Grainger has reported strong growth in rents, up 9% to £21.8m in the six months to 31 March, in an interim report which also revealed the group’s increasing focus on the private rented sector (PRS).
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Foxtons continues downward trend
London estate agent Foxtons has issued another downbeat trading update, citing a “very challenging” market as the reason for sales falling in the first quarter of 2018.
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Housebuilder shares fall while FTSE 100 climbs
Shares in Barratt Development, Persimmon and Berkeley Group shares all fell on the FTSE 100 on Wednesday.
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British Land posts steady annual figures
British Land produced a 5.7% rise in net asset value (NAV) for the year to the end of March, but underlying profit dipped 2.6% following £1.5bn in sales of income producing assets.
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SEGRO secures Clayton as non-exec director
SEGRO has appointed CBRE executive director Sue Clayton in a non-executive role with effect from June.