Banks in the UK and Europe are currently preparing to take a major hit on their assets as they prepare to lessen their exposure to commercial property. Financial institutions have offloaded their best assets but are left with the problem of making the choice of either withdrawing from loans or selling off overvalued properties. Simon Cooke,... Read More
With the employment crisis gradually abating and the end of recession here, life can begin to get back to normal for the British population. Yet unfortunately, as inflation is still relatively high and energy prices are set to rise this winter, many families will continue to feel their budgets being stretched to the point where paying bills... Read More
Local real estate executives say New York City's commercial property market will recover in the wake of the devastating effects of Hurricane Sandy, just as it has from previous disasters. Peter Hauspurg, the chairman and chief executive officer of investment sales brokerage Eastern Consolidated, has gone on the record to predict that the... Read More
A Chinese construction company has announced plans to build what will be the tallest skyscraper in the world and they hope to complete it in just three months. Sky City will be built in Changsha in China's southeast region. The 220-storey structure will reach 2,749 feet (838 m) toward the heavens once completed. It will be 32 feet... Read More
In a move that may surprise many people, culture minister Ed Vaizey has awarded Grade II listed building status to the Pennine Tower found on the north-bound carriageway of the M6 between junctions 32 and 33. The landmark tower once served as a 120 seat restaurant at the former Forton (now Lancaster) services and attracted drivers from far... Read More
In the run up to Christmas, the retail industry goes into overdrive. Many cities authorise shopping malls and retail properties to remain open later, chains take on extra staff to cope with the rush of consumers and internet retailers prepare to work around the clock as shoppers attempt to find the perfect presents for their loved ones at... Read More
The skyline of Manchester has changed dramatically over recent years. Even an occasional visitor will have noticed the world class buildings springing up across the city confirming its status as the North West’s principal business centre. In addition the Lowry and Media City developments at Salford Quays have succeeded in raising... Read More
The retail industry is still struggling to recover after several tough years on the high street which saw traditional chains such as Woolworths, the GAME Group and JJB Sports enter administration. Most recently, electrical specialist Comet has been forced to admit defeat as a result of the tough trading conditions, leaving thousands of... Read More
Despite many high street retailers succumbing to the pressures of the economy, one in particular has done quite the opposite. Phones 4U has gone from strength to strength and have just opened their 38th new store this year. This is is their fourth new retail store in London during in the past twelve months alone. But the company is not... Read More
New Look is moving away from teenage fashion and aiming at a more mature customer, as its eyes a return to pre-tax profit and a refinancing of its £1bn of net debt. Chairman Alistair McGeorge, said the fashion chain, owned by private equity groups Permira and Apax as well as founder Tin Singh, had “polarised too young, and prices had gone... Read More
Only two weeks ago we reported that squatters had occupied a former Chelsea rehab clinic that had once treated pop superstar Michael Jackson. This followed the earlier occupation of the nearby Cross Keys pub. Now another Chelsea commercial property is in the hands of squatters after a separate group took over the Black Bull by entering... Read More
Earlier this year, Britain teetered on the brink of an all-out employment crisis as hundreds of thousands struggled to find work. With the recession discouraging bosses from expanding their staff and businesses folding left, right and centre, the employment market stagnated and left those unable to find full time employment relying only on... Read More
For some time now, manufacturing has been in decline in the UK as demand for products such as steel and metalwork has dropped across Europe. This week, Tata Steel announced its plans to cut 900 jobs in the steel industry across the UK, a decision which is bound to take a heavy toll on communities in south Wales. Unfortunately, this appears... Read More
Today the government is due to launch a consultation on the minimum pricing of alcohol in an attempt to crackdown on anti-social behaviour and drink related health problems. The report is expected to recommend a minimum price of 45p per unit. This would mean the cheapest equivalent of a pint of lager or cider in a supermarket or off-license... Read More
US commercial property owners who may have been worried about being able to refinance existing mortgage debt earlier this year may find their situation vastly improved now. Credit markets have strengthened in recent months, and mezzanine debt has become a lot easier to find. As a result, some deals which would not have been workable a few... Read More
Plans are in the pipeline for doctors surgeries to be replaced by ‘virtual clinics’ where patients speak to a doctor via the phone or weblink. But will this cost cutting technology endanger lives rather than saving them? Would you feel comfortable sitting at home in front of your computer telling your doctor your symptoms via... Read More
Over the past year, news of multiple companies going into administration has hit the headlines. Clinton Cards and JJB Sports are just two of those falling victim to incredibly tough trading conditions. The most recent big name administration to be announced was that of electronics retailer Comet, after mounting competition from rival... Read More
The past few years have been difficult for many UK workers with businesses going into administration and job security becoming something of a thing of the past. Even now, with the recession over and businesses more able to begin investing in the future again, British workers are continuing to lose their jobs at an alarming rate – with the... Read More
Barking and Dagenham Council is urging Mayor Boris Johnson to back its bid to create a science hub in the London Borough. The council is hoping for £12 million from the regeneration pot towards the project which is expected to create up to 1,000 jobs. London Mayor Boris Johnson The opportunity has arisen following the announcement... Read More
The Met Office is warning householders and businesses in the north of England and Wales to prepare for heavy rainfall and flooding as the storms that have hit the south-west and the Midlands continue. Travel disruption is expected Forecasters are expecting up to 70mm of rainfall and there are around 250 flood warnings in place as the... Read More
The past few years have been tough for the retail industry, with poor economic conditions ushering in a lull in consumer spending. Add the rise in popularity of internet shopping and the burden of business rates and it’s hardly surprising that once-successful high street brands such as Clinton Cards and JJB Sports and have been forced to... Read More
The owner of Hovis is to slash 900 jobs and close two bakeries as part of plans to restore the fortunes of its struggling bread business. Premier Foods, which is toiling under £1bn of debt, announced the move on Tuesday following the loss of its £75m-a-year contract with supermarket chain Co-operative in October. Birmingham will... Read More
