Security firm G4S has admitted the outcome from its failed 2012 Olympics contract will cost £38m more than first believed, bringing the overall loss from the fiasco to £88m. Games organisers were forced to draft in the army The company initially believed it was going to take a hit of £50m after it failed to arrange adequate security... Read More
Companies which have tried and failed to avoid paying tax will be banned from attempting to bid for a Government contract under new rules. The rules, which were published last week, will ask people to declare if they have ever participated in a tax avoidance schemes in the last ten years. Companies than have will still be... Read More
Mayor Boris Johnson is seeking exemption for large parts of central London from new legislation making it easier to convert offices to residential use. Deputy Mayor for planning, Edward Lister, confirmed that Johnson will be asking for an exemption for the city’s central activities zone. This includes Westminster, Kensington and... Read More
An Intensive Training Centre (ITC) in Stockport, which was set up after the Beijing Olympic Games in 2008 has its funding cut by British Swimming. Stockport was one of five ITCs set up after the 2008 games, but is the only one which will have funding cut. Bath, Loughborough, Stirling and Swansea will still receive government... Read More
For some time now, the London commercial property market has bucked the trend by increasing in value at a time when prices have been falling elsewhere. Thanks to international businesses and investors scrabbling for a foothold in the UK’s capital city, commercial space in prime locations can reach prices of up to £2,000 per sq ft.... Read More
While Britain may no longer be in recession, at least officially, it has not necessarily meant a return to prosperity for the nation’s families and businesses. Thanks to low levels of consumer confidence and a rise in the cost of utility bills, businesses can little afford to raise employee wages which means that the average family budget... Read More
Aviation officials in the UK have recently spent a significant amount of time debating the future of the country’s airports. At present many do not believe that Heathrow Airport is able to fulfil its role as Britain’s only Hub airport with the current runway and terminal capacities, which in turn has led to proposals for existing airports... Read More
Finnish companies seeking large commercial properties to rent are looking to relocate to Estonia. The market in Tallinn offers several benefits, including relatively cheap prices and favorable terms for tenants. Tallinn Companies who make the move to Estonia can find rental prices that are at least half of what they would expect to pay... Read More
A majority companies believe that the latest changes to government policies will have no positive outcome on their business, leaving SMEs to manage for themselves, a recent survey reveals. The Viking Small Business Barometer survey communicates with the same 1,000 managing directors and small business owners across 15 sectors in the... Read More
The popularity of shared office space and co-working environments has grown significantly in recent years particularly in the tech and creative industries. In the current economic environment it is seen as a flexible solution to entering into long-term rental agreements and an opportunity to network and share resources. In many cases the idea... Read More
According to a new report released by dmg::events in conjunction with consultancy Ventures Middle East, the total value of building projects in Gulf Cooperation Council states will exceed $80 billion this year. The results of the survey found that the overall value of projects will increase by nearly one-fifth to $81.6 billion in 2013... Read More
Surprise Move Follows Successful Christmas The Christmas trading period was far from the turnaround in consumer confidence hoped for by the retailers of the UK, with many failing to match sales figures from previous year despite the end of the recession. In fact, the disappointing period ended up becoming the trigger for both HMV and Jessops... Read More
British Land has added to its retail portfolio in a deal that sees the property company assume ownership of Ealing Broadway Shopping Centre. The 300,000 sq ft mall is the centrepiece of a £184m deal with Dutch fund Wereldhave which has now withdrawn from the UK property market. The shopping centre, which is conveniently situated in... Read More
Double-Digit Returns Forecast by 2015 The UK will benefit from improving global economic conditions after 2013 and will see net trade improve as a result, according to BNP Paribas Real Estate. The firm's global head of market economics, Paul Mortimer-Lee, recently shared his economic outlook for local and global economies. He also stated... Read More
Life Imitates Art on Peachtree Street In a case of life imitating art, Atlanta’s tallest building stands half empty a year after becoming the city’s costliest foreclosure. The story of the troubled Bank of America Plaza echoes that of Croker Concourse in Tom Wolfe’s novel A Man in Full and is regarded by many as symptomatic of the... Read More
Farmers and landowners affected by the proposed high speed railway (HS2) are calling for full and fair compensation settlements. The compensation scheme, which the government describes as ‘generous’ and ‘comprehensive,’ is complex for both residential and commercial claimants. For example, it appears that those with land or... Read More
A Valentine’s Day Guide to Avoiding Trouble There are plenty of opportunities to start a budding relationship in the office, like work parties and social events, as well as cosy chats by the vending machine. But before falling head over heels, you should think about the consequences if thing things go sour and your work life balance is all... Read More
Can giving away items encourage people back to the high street? It may sound bizarre but this is exactly what is happening in Wrexham to try and boost the local economy. But is it working? Well so far, so good. A stall in the People's Market in Wrexham, known as the “free shop” which is run by a group of volunteers, invites people... Read More
Will Commercial Properties Woo Romantics Today? Traditionally, the 14th of February is the day to pamper your Valentine by presenting them with cards, gifts and a romantic candle-lit meal for two. Retail properties are overflowing with themed teddies and bouquets of flowers, while it is virtually impossible to step into a restaurant without... Read More
Deals Include Luxury Brands, Restaurants and a Public Loo! Luxury brands competing for Bond Street properties, a shortage of space for Soho restaurants and a public loo that is set to become an ice cream parlour are among the market stories making the headlines this week. London’s fashionable Bond Street is already home to many... Read More
Barclays Bank has said it will make 3,700 redundancies following a strategic review, as it aims to cut costs by £1.7bn. Nearly half of those job losses will come at its investment bank. Barclays also reported a fall in pre-tax profit to £246m in 2012, from £5.9bn in 2011, after setting aside compensation for miss-sold products and a... Read More
One of the biggest factors in the decline of the high street has undoubtedly been internet shopping. With millions of items simply a click away, cyber catalogues galore to browse and no need to trail around the shops for hours on end, the number of consumers converting to web based retailers is already in the millions and continues to... Read More
