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
JLL is celebrating the 21st year of its Southampton office with the publication of its South Coast Metropole 2010 report, a large tome including details of all key transactions in the region during the past year and the group’s thoughts on the ... Read more
Property development group Hammerson has agreed the £65m purchase of the long leasehold interest in Leadenhall Court, a City of London office building, from Ernst & Young, the receivers handling the White Tower CMBS portfolio. Leadenhall Court ... Read more
JLL says that thanks to the difficulties in obtaining debt finance over the past two years, the speculative development pipeline for City of London offices will deliver only modest volumes of office space by 2015, at a time when a potential 8m sq ft ... Read more
