The Bank of England has indicated today that it is keeping a close eye on the UK commercial property market and watching for signs that banks are becoming less prepared to accommodate borrowers’ difficulties in repaying debt. In the BoE’s latest ... Read more
The Emergency Budget numbers have been crunched, the results are in, and the verdict is…well, we all knew it was going to hurt, and it is indeed going to be painful. For those masochists among you who would like to dwell on the finer points, ... Read more
Fund manager Scottish Widows Investment Partnership (SWIP) says that the prospects for the UK commercial property market remain “encouraging” for the long term. Its latest research, covering the outlook for the next five years, includes a forecast of ... Read more
In further reaction to today’s Emergency Budget (see below), the British Retail Consortium has said the Chancellor was right to use public spending cuts as the main means for addressing the deficit, but argues that the VAT increase to 20% is ... Read more
Phil Westerman, Head of Construction at Grant Thornton, had this to say about the impact of today’s Emergency Budget on the construction sector: “The tax and VAT hike announced today will add to the distress of an already fragile recovery in the ... Read more
While many of the measures announced by Chancellor George Osborne in his Emergency Budget today appear to be broadly in line with expectations, the increase in Capital Gains Tax at midnight tonight to 28% from 18% for higher-rate taxpayers is of key ... Read more
According to new research into occupier conditions in the EMEA region, Jones Lang LaSalle says companies are exercising “cautious” optimism in their property decisions. They are making plans in preparation for growth as and where it returns, and are ... Read more
British Land’s chief executive Chris Grigg is to become the president of the British Property Federation in 2012. Grigg will become the BPF’s junior vice president at the trade body’s AGM on July 6, when former Hammerson chief executive John ... Read more
IPD says the recovery in commercial property has continued to soften. Figures for the group’s May UK Monthly Index out this week show that UK commercial property capital growth eased for the second consecutive month, at 0.5%, reflecting a moderation ... Read more
National Grid is close to getting the go-ahead for a 1m sq ft business park in Greater Manchester on the site of an old gas production and storage facility, according to press reports. Development looks likely to take place in stages over several ... Read more
