All Property Week articles in 20 March 2009 – Page 5
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Major prelet at Terrace Hill’s Baltic Quarter called off
Terrace Hill has ended plans to prelet 100,000 sq ft of office space to energy provider Npower at Baltic Business Quarter in Gateshead in a major blow to the regional market.
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DTZ warns of ‘significantly greater’ losses
DTZ has issued a profit warning stating that losses for the year to 30 April 2009 would be ‘significantly greater’ than expected.
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SA building industry confidence drops
Confidence in the building industry dropped further in the first quarter of this year, FNB said yesterday in its quarterly Building Confidence Index. The index dropped from 40 in the fourth quarter of 2008 to 28.
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California's median home prices plunge 40%
The median home price in California dropped 40% in February from a year earlier, a real estate tracking firm has said.
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Lennar set to buy back after cashing out at top
Home builder Lennar Corp., which largely cashed out of one of the nation's biggest land ventures near the top of the market, is close to a deal to pick up some of the pieces at a significant discount.
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France sees revival of home-equity deals
Madeleine Schlosser needed more cash, so last year, at age 82, she sold her Paris home.
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High-rise plunge hits Oz housing starts
Housing starts suffered their biggest fall for nine years in the December quarter, dragged down by a savage 54% fall in the number of high-rise apartments under construction in Queensland.
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Mirvac slashes dividend by up to 40%
Mirvac said today it will cut its full-year distribution by up to 40% less than a month after reaffirming its guidance.
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Beijing North chairman expects price bottom in 2010
Beijing North Star chairman He Jiangchun expects the mainland property market to remain depressed until the second half of 2010 as the global financial crisis has yet to bottom out.
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Henderson core profit dives 63%
Henderson Land Development yesterday reported a 63% plunge in underlying interim profit to HK$1.41bn and unveiled plans to sell or pre-sell as much as 5.2 million square feet of gross floor area in mainland cities this year.
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$2bn poised for distressed GCC assets
About Dh7.3 billion (US$1.98bn) worth of equity is “on the sidelines' waiting to be invested in distressed property assets across the GCC, with Abu Dhabi, Qatar and Saudi Arabia being the most attractive markets, according to the property consultant Jones Lang LaSalle.
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Kuwait put on ratings review
Moody’s, the rating agency, put Kuwait on review yesterday for a possible downgrade as a result of a political crisis in the oil-rich state.
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Regus raises pretax profit 25%
Regus reported a 25% rise in 2008 pretax profit on Friday and said it had benefited from introducing cheaper options for customers struggling with the economic downturn.
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Crown Estate renegotiates Café Royal deal with Alrov
The Crown Estate has granted Israeli group Alrov more time to buy the long leasehold of the Café Royal block after it struggled to find the finance to complete the deal.
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Treasury slammed over Northern Rock blunders
Taxpayers have picked up the tab for £80m paid in fees to the investment bankers, lawyers and other advisers who worked on Northern Rock during the crisis of 2007 to 2008.
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2m home owners facing negative equity says FSA
More than two million home owners face falling into negative equity this year, the City regulator warned.
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Smallbone saved by pre-pack deal
Smallbone, the Wiltshire-based luxury kitchen manufacturer, collapsed into administration yesterday and was immediately bought out by a technology entrepreneur in the latest of a long line of pre-pack administrations in the retail sector.
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Quarter day raises threat to retailers
JJB Sports, the retailer, is racing to raise cash before a quarterly rent deadline that insolvency experts say could bring a fresh wave of retailing failures.
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Mortgage lending continues to slide
Mortgage lending continued to tumble in February, falling by 60% compared to the same month last year.
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Quintain to cut debt
The property group said that it aimed to reduce a £95m credit facility with Barclays to £35m, subject to meeting a covenant that limits its debt to a maximum of 110 per cent of equity at the end of March. It had said this week that it was considering a ...
