All Property Week articles in 20 March 2008 – Page 9
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Go ahead for €200 million Irish retail scheme
Bennett Developments has got the green light for the largest retail scheme in the Midlands of Ireland.
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UK fund manager disqualified
The founder of a Mayfair-based property fund management company, who inflated the values of some of his previous project by 10, has been disqualified for four years following an investigation by the Insolvency Service.
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Investment bank to lose 15% of jobs
Job losses accounting for about 15 % of the US and European investment banking industry have become a near certainty in the first half of this year following the latest turmoil on Wall Street, senior bankers have warned. Financial Times
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Four year ban for Fund boss
A director of a fund management company with plans for a £1bn property fund has been disqualified for four years following a three-year investigation by the Insolvency Service. Financial Times
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Derwent London warns of tougher times to come
Derwent London has bucked the wider downward trend in the sector with an 8.4% rise in net asset value last year owing to the relative strength of its mostly West End-based property portfolio. Financial Times, The Times
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ABN buy doubles RBS mortgage security exposure
Royal Bank of Scotland’s portfolio of mortgage-backed securities more than doubled to about £68.3bn last year after it led the consortium that bought the Dutch bank ABN Amro. Financial Times
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Householders debt soars
Rising food prices, gas bills and mortgage rates have been blamed for a jump in the numbers suffering serious debt problems. Financial Times
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Property development stumped by credit block
Speculative property development in the UK has seized up amid rapidly worsening credit conditions, according to industry insiders. Financial Times
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Savills predicts City bonus cuts will impact on property
Savills has given warning of sharp price falls for multi-million-pound Central London flats and houses this year and next, reversing a forecast made last autumn.
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Cheap mortgage era 'is over'
The era of cheap mortgages is over, senior Treasury officials said yesterday, as consumers were warned that the financial crisis will affect Britain for at least another year. Daily Telegraph
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LandSec raises £1bn for infrastructure fund
Land Securities has raised more than £1bn for its infrastructure fund despite turmoil in the financial markets. Daily Telegraph
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Tchenguiz to put Laurel into administration
Robert Tchenguiz is to put his Laurel pub company into administration in a move likely to spark anger among landlords, employees and the taxman.
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Kenmore sells Norway portfolio
Kenmore has sold 14 properties in Norway to Close Brothers’ open-ended European fund for NOK 680m (£67.3m).
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Modus gets green light at Trowbridge
Modus has received planning permission for the first phase of the £90 million Waterside development in Trowbridge.
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Candy reinforces Chelsea Barracks with two new recruits
Candy & Candy has poached two members of staff for the development of the Chelsea Barracks.
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Oversubscribed Trillium fund closes with £1.1bn.
Land Securities Trillium has completed the fundraising for its £1.1bn Trillium Partners fund.
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Derwent shares jump as West End outperforms
Shares in Derwent London rose 4% this morning, after its strong annual results cheered the market.
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LaSalle Investment Management lets entire City of London building
LaSalle Investment Management has let the whole of its Friary Court building in the City of London.
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Borrowers to struggle to get home loans
Homeowners and first-time buyers may struggle to secure a mortgage in the coming months, as lending between banks and building societies deteriorates in the wake of the Bear Stearns crisis, experts have warned. Daily Telegraph
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Bear Stearns London staff face axe
More than a third of Bear Stearns’s London office staff are expected to leave the troubled investment bank after it was bought by JP Morgan. Daily Telegraph