All Property Week articles in 21 December 2007 – Page 11
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Blackrock International buys in Dublin and Edinburgh
AIM-listed developer Blackrock International Land has carried out two deals this week buying an industrial property in Dublin and completing the sale of the former Edinburgh Fruit market site.
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RICS sees stable house prices but rising repossessions
Home repossessions will rise and straitened lenders may squeeze risky borrowers out of the market, but house prices will be unchanged at the end of 2008, the Royal Institution of Chartered Surveyors predicts today. Financial Times, Independent
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DTZ shares slide on profit warning
A gloomy outlook from DTZ pushed its shares down nearly 10%. Financial Times, Daily Telegraph, The Times
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BBC Dragon ponders Erinaceous swoop
James Caan, the entrepreneur who sits on the panel of BBC2’s Dragons’ Den, is studying the possibility of making an offer for some or all of embattled property services company Erinaceous. Daily Telegraph
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MPC vote fuels hopes of more rate cuts
The Bank of England heightened expectations of further interest rate cuts as it emerged that policymakers voted unanimously to cut the base rate a quarter of a percentage point to 5.5% earlier this month. Daily Telegraph, Financial Times
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Shareholders force Rock EGM
Northern Rock has failed to persuade its leading shareholders to abandon demands for an emergency meeting and has only until Christmas Eve to fix a date for what could be an embarrassing face-off with investors. Financial Times, Independent
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CIBC faces $2bn sub-prime hit
CIBC, the Canadian bank that last week made 60 of its London-based staff redundant, has said it could take as much as a $2bn (£1bn) hit from its exposure to the US sub-prime mortgage market. Daily Telegraph
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FSA to tighten liquidity rules
The FSA has pledged to tighten rules governing banks’ access to short-term liquidity as it faced renewed criticism from the prime minister and the chancellor for failing to raise the alarm about the crisis at Northern Rock. Financial Times
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French builder edges up
Kaufman et Broad, the French housebuilder, said that its full-year net profits had edged up to a weaker than expected €84.4m (£60.3m), from €84m last time, as revenues rose by a smaller than predicted 10% to €1.38bn. The Times
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St James Securities directors split
Three senior figures have left Leeds-based property developer St James Securities following a dispute with the company’s majority shareholders.
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Hamptons International buys London resi agency
Hamptons International has bought a south west London residential agency Allen Briegel as part of its UK and international expansion plans.
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OnlineBeetham’s Southwark tower gets final go-ahead
Southwark Council has granted planning permission for the Beetham Organisation’s 52-storey storey tower on the southside of the River Thames in London.
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OnlineJER sells stake in £185m London hotel
JER Partners has sold its 50% stake in the Andaz Liverpool Street London, formerly the Great Eastern Hotel, to joint venture partner Global Hyatt Corporation.
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OnlineRochdale riverside scheme gets go ahead
Outline planning permission for a masterplan to convert the Dexine rubber works site on Spotland Road in Rochdale to homes and offices was granted last night.
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OnlineDTZ profit warning
DTZ issued a profit warning today on the back of economic uncertainty and ‘very low levels of activity’ in the investment market. Chief executive Mark Struckett said: ‘If you look at market conditions, there is a lot of uncertainty out there, and we believe 2008 will be a difficult year, ...
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Nationalisation for Rock looms as B&B eyes assets
Mervyn King gave his blessing yesterday to a temporary nationalisation of Northern Rock as the Treasury extended its 100 per cent guarantee to a wider range of Northern Rock’s wholesale creditors. This means the taxpayer’s exposure to Northern Rock now stands at £56bn, according to the Treasury. Financial Times, Daily ...
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Centro shares plummet again
Analysts and investors in struggling Australian property group Centro are predicting a further earnings downgrade following a second calamitous day for the company’s share price. Daily Telegraph
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Matalan to extend new store format
Matalan, the discount retailer taken private in an £800m-plus deal last year, is to roll out a new store format following a successful trial. Daily Telegraph
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Market stunned by €350bn ECB injection
Short-term market interest rates in the eurozone plunged at their fastest rate for more than a decade yesterday after the European Central Bank stunned investors by pumping a record €348.6bn (£249bn) of funds into the markets. Financial Times, The Times, Guardian
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Newbury faces hostile bid
Newbury Racecourse urged shareholders not to 'hand over the reins' to 20.7% investor GPG Acquisitions, which has launched a £33.5m hostile bid for the company, arguing that the board’s plan to realise at least £44.5m from a property development scheme was in the group’s best interests. Daily Telegraph
