All Property Week articles in 21 August 2009 – Page 4
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Building societies could be forced to merge
Up to five UK building societies could be pushed into mergers over the next couple of years because of continuing losses and regulatory pressure, predicts KPMG, the professional services firm.
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Building societies to check books after Chelsea affair
Britain's building societies could be forced to conduct individual investigations into their mortgage books to prove they do not have financial 'black holes' in the wake of the alleged £41m fraud that rocked Chelsea Building Society last week.
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Bovey exits new property venture
Grant Bovey, whose buy-to-let empire collapsed with debts of more than £50m, has abandoned his comeback venture after just four months.
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Landlords back deal to save Focus DIY
Focus DIY could be extended a lifeline that could save 5,000 jobs if agreement can be reached today with its creditors, most of whom are owed rent.
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London & Stamford refinances One Fleet Place
London & Stamford Property has completed a £55.3m refinancing of its City of London office building, One Fleet Place, with Santander Corporate Banking.
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Bondholders on Alburn loan to vote on restructuring
Holders of securitised debt, secured on assets owned by Irish investor Noel Smyth’s Alburn Real Estate Capital, are due to vote in September on restructuring proposals following a default.
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Two thirds of businesses hit by swine flu, says Eversheds
Two thirds of the FTSE 500-listed businesses have reported ‘swine flu absenteeism’ since the pandemic hit, according to law firm Eversheds.
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OnlineAtrium plans ‘high end’ student accommodation block
Preston-based Atrium Student Rooms has submitted a planning application for a new ‘high end’ student accommodation concept, complete with flat screen TVs, which it hopes to roll out nationally.
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Co-op appoints DTZ to shed former space
The Co-operative Group has appointed DTZ to market its 320,000 sq ft distribution centre at Drum Industrial Estate in Chester le Street after agreeing to move next door.
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Nanette plans AIM delisting
Nanette Real Estate, the European residential property company, is planning to delist from AIM to save ‘substantial costs’.
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Glasgow’s HKI Partnership buys New Lanarkshire House
A Glasgow-based property investment venture HKI Partnership has bought New Lanarkshire House at Strathclyde Business Park Royal Liver Assurance Limited for £4m.
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OnlineMORNING AFTER: GVA Grimley serves up tennis triumph
GVA Grimley's Tim Edwards and Alex Stevens were the victors at this year's IAS/OAS tennis tournament sponsored by Colliers CRE and Property Week and organised by Milestone Event Management.
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Barwa fails to freeze Ponzi accused assets
Barwa Real Estate, Qatar’s second-largest property developer, has confirmed it is continuing its bid to freeze the assets of Dean Rees - an associate of alleged Ponzi scheme operator, Barry Tannenbaum - after a UK court turned down a request.
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Nakheel presses buyers to stump up cash
Nakheel is asking investors using credit transfers for property purchases to top up their payments with cash, as it seeks to raise funds ahead of a mid-December due date for a Dh3.5 billion (US$953m) bond.
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UAE mortgage holders get relief
Central Bank measures aimed at lowering interbank rates could give the depressed UAE mortgage sector a boost but will take longer to lower the cost of personal loans, bankers say.
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UK's Real Office Group in Qatar jv
Pacific Middle East, the Middle Eastern unit of AIM-listed Real Office Group, has struck an alliance with Qatar's Rumaillah Group to accelerate its expansion into nascent Gulf property markets.
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R&F Properties shows 90% profit slump
Gungzhou R&F Properties recorded a 90% slump in first-half profit owing to fewer completions and the write-off of a deposit paid for a site.
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Forte hikes sales target after huge profit leap
Mainland developer Shanghai Forte Land said it would increase its sales target this year after interim profit soared 696.8% from a year earlier.
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Macquarie CountryWide Trust in loses $1.4bn
Macquarie CountryWide Trust posted today a full-year net loss of $1.44bn on asset, derivative and joint venture revaluations.
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Repayment crisis threatens interest only homeowners
Many of the four million homeowners who took out interest-only mortgages are facing a crisis because they have no way of repaying their home loans.
