All Property Week articles in 28 November 2008 – Page 9
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Quintain’s gearing soars after 20% valuation plunge
Quintain suffered a 28% plunge in its net asset value in the six months to 30 September, putting it in increasing danger of breaching its banking covenant.
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Housing market woe takes its toll on Grainger
Grainger, the UK’s only listed residential property investor, saw its net asset value drop by 35% in the year to 30 September as a result of the downturn in the housing market.
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CBRE’s credit rating downgraded to ‘negative’
CB Richard Ellis has incurred a credit rating downgrade from 'stable' to ‘negative’ from Standard & Poor's.
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Junction fund reduces debt after sale of Leicester retail park
The Junction retail warehouse fund has sold the St Georges Retail Park in Leicester for £32m.
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OnlineWoolworths in administration
Variety retailer and high street veteran Woolworths went into administration this morning.
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Mortgage rates fall on expanded rescue plan
U.S. officials pledged to pump another $800 billion into ailing credit markets, much of it directly from the Federal Reserve -- a move that makes the nation's central bank a lender to almost every corner of American life.
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Office space floods market
Enough office space to house about 5000 employees has come up for sub-lease, as debt-stricken financial firms try to figure out ways to pay landlords for some of Sydney's most prestigious office towers.
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QE2 wants to draw record visitors
The new owners of the Queen Elizabeth 2 hope to attract twice as many guests as the majestic cruise liner did when she sailed the world’s oceans, after she is transformed by the UAE developer Nakheel into a luxury floating hotel and museum.
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Al Habtoor group to build Dubai Pearl
Al Habtoor Leighton Group has clinched the Gulf’s biggest single building deal worth Dh8.85 billion (US$2.4bn) in a move that bucks the slowing property trend in Dubai.
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Shocked industry demands tougher terror laws
Expressing shock over the terrorist attack in Mumbai claiming about 100 lives, Indian industry today demanded tougher laws along with "stronger and firmer" leadership to tackle terrorism.
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Woolworths into administration
Woolworths fell into administration last night, putting 30,000 jobs at risk and marking the bleakest day so far for retailers in the financial crisis.
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One in four subprime mortgagees in arrears
Almost one in four subprime mortgage holders have fallen behind in their payments, a sharp rise from the one in five delinquent borrowers a year ago, according to Standard & Poor’s, the rating agency.
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Asking prices fall as reality bites
Homeowners desperate to attract buyers have cut asking prices by an average of nearly £17,000 over the past fortnight, figures suggest.
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Investor buys Knock Down Street
Investment funds are taking advantage of the sharp downturn in house prices to buy cheap properties from struggling buy-to-let landlords and distressed homeowners.
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Abu Dhabi sets up mortgage firm
Abu Dhabi, capital of the United Arab Emirates, has launched a state-backed mortgage lender to help finance the purchases of a slew of properties expected to come to the market in the future.
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Rock hikes mortgage rates
Northern Rock, the stateowned bank, yesterday defied government calls for cheaper mortgages as it increased the rates of its most competitive home loans just 10 days after reducing them.
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M&B axes dividend after property deal fails
Mitchells & Butlers, the pub group, is to scrap its final dividend to reduce debts after slumping to a £238m pre-tax loss following ill-fated efforts to set up a property joint venture.
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SA investors buys into Minerva
A little-known South African investor emerged yesterday as the largest shareholder in Minerva, the commercial property group.
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OnlineTens of thousands of jobs under threat as Woolworths nears administration
High street legend Woolworths is set to go into administration.
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Knight Frank to cut up to 20 graduates
Knight Frank is making between 15 and 20 of its 70 UK commercial graduates redundant.
