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...The EU faces a potential office space bill of more than €450mn after its drugs regulator quit London because of Brexit, adding pressure to its already overstretched budget....
...Flow, his new property company, has already made a conditional offer of about $600mn for WeWork....
...“It feels like a problem we’ll be working on for years,” Powell said about the exposure of regional banks to commercial real estate, particularly offices, that are less valuable than they were before the...
...Staff in the country will be transferred to its London offices....
...House prices in London have underperformed the rest of the UK for the past eight years because of the unaffordable costs of property, post-pandemic housing trends and high mortgage rates....
...But falling office values have generally been exacerbated by a rental slump as tenants shun older, lower quality office buildings....
...Savills data show sales of properties worth more than £5mn were down 13 per cent last year from the year before, as the post-Covid property boom came to an end....
...“Anyone who has invested heavily in office [property] in the last five years will have a problem,” said Gosin....
...The Post Office, which remained under public ownership when Royal Mail was privatised, made just £500mn of revenues from financial services last year....
...The UK Serious Fraud Office has opened an investigation into an alleged £140mn property fraud and arrested four people in a series of raids....
...If he fails to post a valid bond, James could begin seizing his properties to satisfy the judgment. A hearing on the matter is scheduled for Monday. Read more here...
...Airbnb is examining new business lines as revenue growth slows following a post-pandemic boom....
...If he fails to post a valid bond, James could begin seizing his properties to satisfy the judgment. A hearing on the matter is scheduled for Monday....
...The European Patent Office in November declared the company’s 2016 patent invalid, while in Dutch proceedings in December judges declared the 2011 patent invalid....
...Cheaper refits and limited shared space might help WeWork to break even post bankruptcy....
...Doug Middleton will continue to run the firm’s investment property unit....
...Sector optimism, however, isn’t universal, with a question mark still hanging over office property....
...York attorney-general from collecting on a near half-billion dollar fraud judgment against him and his businesses, temporarily ending a stand-off that could have led to parts of the former president’s property...
...They look well suited to the post-pandemic juncture in working life: companies ditching fixed workspace as remote work takes off....
...The sale of the tower is part of BT’s efforts to simplify its property portfolio. It is in the process of reducing the number of offices in its estate from more than 300 to about 30....
...Cangemi said the bank looked at “the general office weaknesses throughout the country....
...Beijing has been struggling to boost growth in the post-pandemic era....
...Describing fears that “the era of the office is dead, post-Covid” as “nonsense”, Hayward said that companies were looking for higher quality offices that would help them reduce their carbon footprint....
...The losses mark the latest fallout from the US commercial property market’s dual problems of fewer people working in offices since the pandemic and more expensive borrowing costs....
...Michael Gove’s push to convert shops and offices into thousands of new homes in England risks a surge in poor quality housing, industry experts and campaign groups have warned....
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