Far East Consortium (FEC) has acquired the site of the Pinnacle’s failed Angelgate residential development in central Manchester at online auction.
A new property investment company backed by Johnny Sandelson has been launched that will, using Blockchain technology, give the general public the chance to own lucrative central London property.
American vulture hedge fund Elliott has revealed it has snapped up a 1.5% stake in Hammerson, sparking speculation its founder Paul Singer is seeking a shake-up in the board’s strategy and management.
Auction House London raised £13m at its latest sale last week, selling 57, or 68%, of the 85 lots offered – less than the £14.6m raised and 76% success rate achieved last April.
Barnard Marcus raised almost £9m less than last year at its 16 April auction. The auction house sold 112 of the 190 lots offered, reflecting a 59% success rate and raising £20m.
Online auctioneer BidX1 has launched a 40-lot catalogue for its second sale in the UK.
BDL Select Hotels has sold Rosslea Hall Hotel in Scotland to Chinese investor Tom Xu for his debut UK acquisition.
Birmingham auctioneer sold 82 of 102 lots offered, including a Coventry warehouse that went for £770,000.
Lambert Smith Hampton’s leading team of Simon Bailey, Rob Hills, Mat Harris, Simon Riggall and Oliver Childs talk about the unique challenges of the auctions market and prospects ahead for the year.
The phrase ‘proptech’ evokes images of fast-moving, lean start-ups trading in virtual reality or artificial intelligence. It is hard to discuss real estate nowadays without addressing digital strategies or the concept of futureproofing your business.