Hints and tips:
Related Special Reports
...Forty-one Upper Grosvenor Street has been empty for a large part of that, drawing the ire of homelessness campaigners lamenting largely absentee foreign owners hidden behind offshore companies....
...The company reported increased revenue and record visitor numbers, with 1.3mn people coming to the estate each week on average....
...Grosvenor, the Duke of Westminster’s property company, is launching a £900mn lending business focused on residential development, as real estate investors opt for debt investments over the risk of buying...
...The property group warned that the number of new home completions would fall from an annual average of about 210,000 over the past five years to 160,000 over the coming year as higher debt costs hit construction...
...“I would always be cautious about any company that does not have its dividend covered,” said Nate Koppikar, a partner at hedge fund Orso Partners, which has bet against Blackstone shares....
...“Many multinational companies are downsizing, driven by a weak economy . . . and mainland Chinese companies are not coming in at the [quick pace] as previously expected due to budget limitations.”...
...Many traditional shopping centres have had their value wiped out by the rise in ecommerce, while the need for new housing and investor appetite for residential property has increased....
...Today the company’s portfolio of healthcare-related buildings, worth just under £3bn, comprises 514 properties across the UK and Ireland, serving 6mn patients, or 8.8 per cent of the UK population....
...But as the property market adjusts to higher interest rates, a growing number of mainstream homes are being traded in this way — or so estate agents claim....
...“There are lots of parks and green spaces and a great restaurant scene — when something new opens, it’s booked up for ages,” says Maldonado, who works in property....
...Grosvenor, the Duke of Westminster’s property company, is taking a big bet on flexible workspaces to meet West End office tenants’ post-Covid requirements and generate higher returns....
...But housebuilding activity registered a setback with the lowest reading since January, as construction companies noted sluggish market conditions and the impact of elevated borrowing costs....
...“He was a young tech guy, and his company had blown up, and he needed tax write-offs....
...It is far from the only property developer betting on this sector....
...Yet a series of creative financings led by Leiv Synnes, the chief executive parachuted in last year, have kept the company ahead of its creditors....
...Kevin Shaw, national sales managing director at the property services company Leaders Romans Group, said: “2024 is off to a good start with more properties coming on and more sales happening.”...
...It also reported that its house price index, based on property valuation computed by Hometrack, was largely unchanged in March from last year....
...The company estimates that $670bn of the loans maturing by 2026 are “potentially troubled”....
...The UK property sector has a proud tradition of being the gloomiest corner of the European market in every crash. Not this time....
...And property developer Shimao last month became one of the latest to face a winding-up petition, unusually from a Chinese state-backed bank....
...New lending to UK commercial real estate fell to a historic low in 2023 as lenders and investors struggled with falling property values, higher debt costs and pressure to deal with troubled loans....
...Elevated mortgage rates have made it difficult for many people to buy a property, adding to rental demand....
...The analysis, based on hundreds of thousands of inquiries made on the property search platform, comes alongside figures showing house prices in London are firming up....
...This is a poorer position to be in, but if the company were to fold the property would be protected from creditors. Sometimes a number of partners in a business own the property privately....
...“Grey is fashionable as well because it modernises less appealing, non-period properties.”...
International Edition