REIT Update: Share Prices since Brexit

The major Real Estate Investment Trusts (REITS) have seen their stock prices fall since Brexit. Taking a weighted average by market cap, FTSE 350 REITS have fallen 9.2% from 23rd June 2016 to 9th March 2017. By Comparison, the FTSE 100 and FTSE 250 rose by 15.4% and 9.0% respectively over the same period – while […]

The Shard: A Monument to Remember Irvine Sellar

 Irvine Sellar, via the-shard.com Irvine Sellar, one of London’s most notable developers, died on Sunday after a short illness at the age of 82. Raised by a glove shopkeeper in the East End of London before dropping out of school and going on to found fashion and real estate companies including Sellar Property Group. The group […]

5 Of The Largest Commercial Property Sales of The Year So Far

Rathbone Square £435m || 419,700sqft || 4.25% Yield Rathbone Square, via burofour.com The most expensive sale of 2017 so far saw Great Portland Estates sell the freehold of Rathbone Square in Fitzrovia. The mixed-use development, which is due to complete in March this year, was sold to Rathbone Place Jersey Limited – an entity owned by Gesellschaft […]

Ukrainian born billionaire looks to control rental expenses by buying up W8 block

Ukrainian born billionaire looks to control rental expenses by buying up W8 block Len Blavatnik, the billionaire investor who pocketed $7 billion from the sale of Russian oil company TNK-BP, has entered advanced negotiations to buy Warner Music Group’s headquarters at 27 Wright’s Lane for around £60 million – just over twice the amount he […]

One of London’s Most Expensive Office Buildings in Receivership.

The Citypoint building at 1 Ropemaker Street, home to the international law firm Simmons and Simmons, has gone into the hands of receivers KPMG, due to increased vacancy.   The building covers 703,382 sq ft and is one of London’s tallest commercial buildings, and at the time of sale in 2007, was the most expensive […]

LandSec Change their Tune from Office to Residential.

Following a number of recent moves by Land Sec to convert more of its central London portfolio into flats, the UK’s largest commercial property company has turned its back on its original redevelopment scheme for their Victoria landmark Portland House SW1.  Land Sec is now planning to convert Portland House, one of its best known […]

Norwegian Sovereign Wealth Fund Invest in Regent Street

According to the SWF Institute, the Norwegian Government Pension Fund – Global is the second largest sovereign wealth fund in the world. Established 20 years ago, the fund is currently holds assets worth approximately $510 billion. Sovereign wealth funds are controlled by the government and are common in nations which rely on a large percentage […]

Malaysian Fund Enters London Property Market

According to Dow Jones, Malaysian pension fund Employees Provident Fund is entering the U.K. commercial property market with the purchase of London office building 1 Sheldon Square for more than GBP150 million. The building currently is 50%-owned by Aviva Investors, the asset-management business of Aviva PLC (AV.LN), and 50% by Liquid Realty Partners, Invista Real […]

Deloitte Moves HQ To London

Big Four accounting firm Deloitte announced that it would be moving its Swiss headquarters to London. This may have plenty to do with tax implications, but is also a huge vote of confidence in the London economy and service sector. The move also strikes me as ironic. I know that Deloitte isn’t a banking institution […]

Kallakis £61 Million Fraud

According to the Times, Achilleas Kallakis, a billionaire property tycoon,   has been charged with a £61 million commercial mortgage fraud against Allied Irish Bank and Bank of Scotland. Mr Kallakis, formerly Stefanos Kollakis, who spent an estimated £1 billion on trophy properties in London during the boom, appeared at City of London Magistrates’ Court  accused […]