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- Workspace Group says customer enquiries increased sharply in June.
- The office space provider has £161 million of cash & undrawn credit facilities.
- The British company opened 2 new business centres last month.
Features & analysis
Latest Real estate news
Intu Properties (LON: INTU) said on Tuesday that it might be pushed into closing a few of the most popular shopping centres in the United Kingdom as the Coronavirus pandemic continues to weigh on its performance. The real estate investment trust has approached its creditors for a debt standstill deal. Upon failure to strike a deal before Friday, the company said it might enter administration with KPMG serving as the administrator. Shares of the c...
In an announcement on Monday, Capital & Countries Properties (LON: CAPC) said that it has finalised an agreement to purchase Samuel Tak Lee’s stake in Shaftesbury (LON: SHB) for £436 million. The Hong Kong tycoon had a 26.3% stake in Capco’s rival located in central London. Capital & Countries Properties was reported 1.7% up while a 2.7% decline in Shaftesbury was seen in premarket trading on Monday. At 168 pence per share, Capco is rough...
Land & Buildings Investment Management is among the most notable activist investor firms in the real estate space. The fund, mostly known for establishing long positions and pushing for change, is now taking a different approach by shorting multiple New York City office owners, The Wall Street Journal reported. Potential short targets Land & Buildings is reportedly short three names, including Empire State Realty Trust Inc (NYSE: ESRT), S...
In an announcement on Monday, Intu Properties (LON: INTU) said that it might not be able to meet its debt commitments next month. The company cited falling rental payments and expressed plans of negotiating with creditors over standstill agreements to cushion the economic blow from COVID-19. Earlier in May, Intu announced to have received debt waivers until 26th June. The real estate investment trust company is now seeking standstill agreements t...
In an announcement on Thursday, Persimmon (LON: PSN) said that it has resumed around 65% of construction work after a COVID-19 driven temporary halt on operations. On 15th May, the company added, it will also reopen sales offices with strict social distancing measures in place. In Scotland, however, Persimmon will keep all of its sites closed for now. The UK’s 2nd largest housebuilder also highlighted on Thursday to have completed 1,300 ho...
Latvian State real estate has now been permitted to expand the range of tenants supported under a recent government program meant to cushion tenants against the hard-economic times following the ongoing lockdown measures. Thanks to an amendment to the requirements to qualifications for beneficiaries of the program, Latvian State Real Estate (VNĪ) will now extend its rent exemption or reduction initiative to include not just business people but al...
Just when you would think that firms are holding tightly onto capital owing to the impact of the pandemic, Dutch real estate firm Orange Capital has snapped up 173 new apartments in the Netherlands. According to sources, the units whose exact cost remains a closely guarded secret were acquired from a KKR and Round Hill Capital partnership. The apartments are part of a 2018 investment venture between KKR and Round Hill which saw the two...
The outbreak of the deadly Coronavirus has dealt a major blow to the global economy. Some of the most effective measures put in place to curb the virus spread include social distancing, which is awful news to mall owners with real estate investment trusts (REITs) in their portfolios. Businesses are already shifting online and closing brick and mortar locations in malls, thanks to a strained economy. But even before the Covid-19 pandemic, malls ha...
Last month there were occasional jumps in the UK property prices but according to a recent report by Nationwide, the market recovery signs are set to come to a halt amid the Covid-19 pandemic. While house prices rose by 3.7% last month representing a three-year high, the impact of the pandemic was not factored in the percentage, the British mutual financial institution said. Nationwide’s House Price Index for April utilizes mortgage approval info...
A report has emerged showing more than half of the department stores in US malls could close permanently by the end of 2021. According to the report by Green Street Advisors, the whole of the US is currently serviced by about 1,000 open malls, and 60% of the occupants are retail department stores. The researchers say the looming demise of the US department stores has been occasioned by the current Coronavirus pandemic that has slowed down the cou...
JP. Morgan (NYSE: JPM) plans to raise about £8 billion to boost its spend during this Covid-19 pandemic period. The firm’s alternative-investment division said the amount would enable them to sail through the current crashed economy. “The magnitude of these dislocations is so significant. To get some of these markets functioning, you need a lot of capital,” JPMorgan’s global head of alternatives Anton Pil said during a Monday interview. According...
Research by property consultancy firm Knight Frank shows that about 520,000 house sales are set to be lost this year in the UK, following a government directive that froze the housing market after the Coronavirus outbreak. According to the real estate firm, the 38% drop in house sales during the year is set to have a ripple effect across the sector, hitting retailers and even government coffers. If the social distancing directive by government st...
You may have noticed Panama being increasingly mentioned as one of the best countries to buy a property in. This Central American has become popular as a retirement spot or as a place to buy a holiday home. If you plan to live here then their Friendly Nations visa process makes it easy for many people to obtain permanent residency after they invest $200,000 in a property. However, if you are solely interested in an investment, what does Panama of...
Multinational private equity alternative asset manager giant Blackstone is betting big on managing real estate properties in Japan, according to The Wall Street Journal. ‘Core Plus’ Strategy Blackstone’s latest investment strategy highlighted by the financial media consists of buying property worldwide and fixing units as needed and collecting rent or eventually selling the properties. The company collected $29.4 billion from in...
The Liverpool property market has been the star of the UK scene in the last year or so. Now is a good time to take a look at whether or not this trend is expected to continue. We will look at some numbers to see how attractive it is for buy to let investors in 2020. The Story So Far One of the reasons why Liverpool property is performing so well is the success of the regeneration projects that are being carried out here. For instance, the Liverpo...
The thought of buying property in Italy has captivated many people over the years. Richard Branson, Madonna and George Clooney are among the numerous celebrities who own homes in this country. Find out whether buying an Italian house just now could be the key to la dolce vita. Cheap Properties and Massive Variety House prices in Italy have traditionally been comparatively low, particularly when compared to northern Europe. Figures from 2019 showe...
Tesla Inc. has been excited about its first European factory dedicated to manufacturing electric cars and batteries in Berlin. As of Sunday, however, Tesla has been ordered by a German court to figure out an alternative for establishing its Gigafactory without clearing Berlin’s forest land. The court’s verdict was construed as a major victory for German environmental activists. The U.S electric auto manufacturer declared in November t...