All Property Week articles in 22 August 2008 – Page 2
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Empty rates rules prompting demolition
Regeneration chiefs are protesting against a policy that levies tax on owners of empty commercial buildings. Since April this year, owners have had to pay full business rates on them.
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Cap & Reg ponders new fund
The £882m X-Leisure fund, the leisure property investor one-fifth-owned by Capital & Regional, is considering setting up a separate opportunistic fund.
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Savills to report 45% drop as Foxtons talks to banks
The growing malaise in the UK housing market is expected to be underlined this week when Savills confirms that transactional volumes are down about 45% on this time last year.
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Home sale data maintains US gloom
Hopes for a rapid recovery in the troubled US housing industry remained subdued yesterday as sales of previously owned homes showed an unexpectedly strong 3.1% increase but failed to stem a rise in inventories.
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Costa crisis hammers estate agent
But according to figures published yesterday, in only six months the number of estate agents' offices in Spain has been reduced by more than half.
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Fannie-Freddie crisis widens
The crisis gripping Fannie Mae and Freddie Mac has spread across the financial system with JPMorgan Chase warning of a possible $600m (£323m) loss from its holdings of preferred shares in the two mortgage financing groups.
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Retailer woes put pressure on US property sector
The collapse of Pennsylvania retailer Boscov highlighted how the troubles facing US retailers will also hit investors in the buildings that house them.
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KPMG says downturn to trigger building society mergers
The housing downturn is likely to trigger an increase in mergers among building societies, as bad debts from mortgages rise and profits fall, according to KPMG, the financial services company.
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US Liberty purchase could lead to takeover
The purchase of a 3.5% stake in shopping centre REIT Liberty International by a giant US property company could herald a takeover of the company.
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Goodman grows despite UK writedowns
Australian industrial and business parks giant Goodman posted a strong set of full year results in August, despite large writedowns in the value of its UK portfolio.
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UK Coal submits plans for South Yorkshire's largest ever development
UK Coal has submitted plans for South Yorkshire’s largest ever brownfield development.
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UK economic growth grinds to a halt
Economic growth in the UK stalled in the second quarter of this year, figures from the Office for National Statistics (ONS) have shown.
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West Mids estate agent Barbers goes into administration
One of the largest and oldest estate agencies in the West Midlands has been forced to call in administrators, close offices and cut 60 staff.
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DEGI does second Prague deal
DEGI, part of Aberdeen Property Investors, has bought Andel Palace in Prague for €57m (£45m).
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Modus signs up two retailers in Blackpool
Modus has signed up two new retailers for its Houndshill Shopping Centre in Blackpool, a week before the centre opens.
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Grosvenor poaches Scottish Savills man
Robin Blacklock, the director in charge of Savills office agency team in Edinburgh, has been poached by Grosvenor to take charge of major projects in Scotland and Ireland.
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Unite sells £178m of regional property
Student accommodation company Unite has exchanged contracts with two buyers to sell £178.6m of its property in regional cities across the UK.
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Businesses looking to cut property costs, says Jones Lang LaSalle
Property is moving up the corporate agenda as businesses focus on cutting costs in the tougher economic climate, according to Jones Lang LaSalle.
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Persimmon calls bottom of mark
Shares in UK house builders rose yesterday after Persimmon said it thought conditions in the sector were beginning to stabilise.
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Housing starts stuck around eight-year low
The number of houses built in England remained near an eight-year low in the last quarter, although activity rose slightly as the government stepped up support for social housing.