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...The Wharf’s large office towers have fallen out of favour with some tenants since the Covid-19 pandemic. However, other big tenants have stayed put....
...Its push to refinance upcoming loans represents a high-profile example of the challenge faced by property owners around the world at a time of higher borrowing costs and lower property values....
...There are nearly 5mn leasehold homes in England and 86 per cent of owner-occupiers pay ground rent, according to the government....
...Blackstone would probably look to lure the likes of Microsoft, Google, Amazon or Meta as a tenant for the site....
...The owners of Canary Wharf Group will inject £400mn of fresh capital into the London office district, which has suffered the departure of key tenants as companies cut back office space in response to hybrid...
...Commercial and industrial developers are more likely to have addressed the issues as part of their ongoing repairs and maintenance or when upgrading buildings to attract new tenants, he added....
...Council tax is a disgrace, where the owner of a mansion in Westminster pays little more than the tenant of a bedsit in Weymouth. Business rates have crippled the retail sector....
...Hammerson has been working to repurpose spaces formerly occupied by traditional “anchor tenants” like Debenhams or House of Fraser by breaking up the large units and leasing them to multiple tenants....
...New short-term lets that are not used as the owner’s sole or main home will in future require planning permission....
...These may have then been sold to owner occupier purchasers or converted into Airbnbs, removing them from the long-term rental market....
...The owner of the Irn Bru, Rubicon and Tizer brands recently posted a bump in sales and earnings in a bubbly results statement for the 2023 calendar year in March, its last under the leadership of Roger White...
...The Facebook owner paid £149mn to break its lease on an eight-floor building near Regent’s Park that it never occupied, British Land announced in September....
...Once the tenant leaves, you sell,” said Stuurman....
...Gervasio Muñoz, spokesperson for a separate renters’ union which lobbied for the rental law, argued that the root of the problem is not the regulation but the consolidation of properties in the hands of fewer owners...
...The steep increase in the valuation of the building under Signa’s ownership was justified by the rents that could be squeezed from its captive tenant....
...The government said student tenants should have the flexibility offered to all tenants. Bringing in a new code to cover student housing was not “viable”, it added....
...Residential property appears to be faring better, supported by strong demand from tenants and growing rents. Don’t believe that will last....
...William Bain, the head of trade policy at the BCC, warned that owners of corner shops, cafés and local delis would face an “explosion in costs” with some businesses paying “tens of thousands of pounds” extra...
...Some 20 per cent of space was without tenants in the fourth quarter, according to Moody’s. The situation in Europe is much better....
...But falling office values have generally been exacerbated by a rental slump as tenants shun older, lower quality office buildings....
...Some major tenants have left or cut the space they occupy at Canary Wharf as working habits have changed and the need for office space has fallen....
...But for the owners, it’s a very, very difficult league.”...
...The buyer is also a tenant: Kering’s brand Saint Laurent occupies part of the building with a store. In fact, Via Monte Napoleone 8 is full of rivals....
...Where you hold a property as tenants in common, HM Land Registry places a restriction on the title register requiring there to be two sellers....
...In a last-minute deal struck in January, the City of Frankfurt agreed to sublet the space for the English Theatre from the building’s owner, CapitaLand....
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