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...Canary Wharf still has to tackle a November maturity on £564mn in loans tied to 1-5 Bank Street, an office tower home to SocGen and EBRD....
...It was a pricey change of mind: the rental per month for the property was $100,000, or $1.2mn for the year....
...The housing market was suffering a “subdued period at the moment”, said Karen Noye, mortgage expert at wealth manager Quilter....
...Commercial landlords are predicting that higher debt costs will force a growing number of owners to sell if unable to refinance against lower property values when their loans come due....
...“I love the timelessness of old designs,” says Chau Chi Pang, owner of homeware concept store Hak Dei, which stocks everything from traditional bamboo steamer baskets (from HK$50, about £5) to ceramic chopsticks...
...How you own any property used for your business will affect the tax position. Say you are the owner-manager of a pharmacy company....
...The restaurant sees globetrotting French super-chef Jean-Georges Vongerichten expand his empire with an offering that blends his three NYC big hitters: abc kitchen, abcV and abc cocina....
...The number of owner-occupiers with a mortgage has fallen by 2mn since 2002 and sits at levels last seen in the 1980s, according to Building Society Association research....
...Germany is PBB’s biggest market with 44 per cent of its commercial real estate loans, many to office owners. German office vacancies are around 5 per cent. But the signs of stress are there....
...By the autumn, the price had been reduced to €1.95mn “Today, we’re talking about a price of €1.85mn,” he says....
...Data from the Federal Deposit Insurance Corporation shows it remained at a rate of just 1.5 per cent at the end of the third quarter....
...Compare that with increases in Europe from 1.5 per cent to between 5-6 per cent. Better hedging and a more borrower-friendly approach by European lenders have supported the financing environment....
...Five more top stories 1. Exclusive: The owner of Pret A Manger and Krispy Kreme is pivoting to insurance after its consumer and food empire has struggled in recent years....
...It then established an outpost in 2014 in a cluster of renovated farm buildings in the rural English town of Bruton. The launch was a boon to property prices across the local Somerset area....
...And while demand for high quality properties remains high, the outlook for low quality buildings is grim....
...However, like-for-like sales fell 5.9 per cent in France and 9.5 per cent in Poland last year, amid an “extremely tough macroeconomic background”....
...However, net rental income, rental revenue less the costs of running the building, rose by 5.5 per cent due to contracted rent rises in its long leases with its healthcare providers, mostly comprising parts...
...Shares in LondonMetric fell 1 per cent while LXI rallied around 5 per cent after news of the potential deal came out on Monday....
...As high interest rates push the commercial property market into a slump, few asset owners will sell if they can help it. Blackstone has proved to be an exception....
...Since Wednesday, lenders including Coventry Building Society, Principality Building Society and Barclays have increased rates for some products....
...Bank lending remains in historically good shape and even after the recent jump, just 1.5 per cent of commercial property loans were past due....
...The majority owner is Vornado. Adam Leitman Bailey, a New York real estate lawyer, noted that many Trump properties carried mortgages....
...Second-home owners looking to sell a property, middle earners with children, investors with a spare £5,000 and, potentially, people moving overseas for at least a decade are among the few who gained from...
...CBRE said the average house price in England has risen from 5.92 times average earnings in 2003 to 8.28 times in 2023....
...The value of exports edged 1.5 per cent higher from a year earlier but imports were much stronger....
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