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22nd April 2016
The number of London neighbourhoods where average house prices top £750,000 has overtaken those where they are below £300,000 for the first time, according to analysis from Savills. The new figures, devised using Land Registry data, show that just one in six (103) of London’s 628 electoral wards now have prices under the £300,000 threshold.
Evening Standard (15/04/2016)
22nd April 2016
David and Simon Reuben have been given planning permission by Westminster Council to redevelop London's Millbank Tower. The grade II listed, 118-metre skyscraper overlooking the Thames is to be converted into luxury flats. Motcomb Estates, the property division of the Reuben Brothers' empire, bought the 350,000 sq ft Millbank Tower from Tishman Speyer for £115m in 2002.
22nd April 2016
Property prices along the route of the London Marathon have risen by almost £100,000 in the past year, according to figures from HouseSimple.com. Analysis of average property prices at each mile along the route found prices average £712,416, up 16% on last year. The most expensive area is St James’s at mile 26, where homes sell for an average of almost £2.5m. At the third and fourth mile in Woolwich, average prices are £314,446, the lowest on the course.
22nd April 2016
Luxury £1.5m apartments being built in the Battersea Power Station redevelopment are being held back from the market, as the downturn at the top end of the London property market hits sales. The chief executive of the Battersea Power Station Development company (BPSD), Rob Tincknell, said that 35 apartments were currently up for sale, while another 150 were being held back: “If there is market demand, we will release more units, but the market has softened.”
The Guardian (22/04/2016)
22nd April 2016
The Evening Standard reports that a 30-storey apartment block in Paddington that campaigners warn will "open the floodgates" to a new wave of skyscraper building in central London has also been given the go ahead.. The tower is part of a £1bn development on a 2.7 acre car park site just north of the Westway Marylebone flyover that has stood vacant since 1989.
Evening Standard (19/04/2016)
22nd April 2016
The Evening Standard profiles Jake Willis and Kim Felettigh, founders of London Shared, a company that leases property from a landlord on a three-to-five-year agreement, does it up and then rents it out room by room to working professionals, earning the difference between what they paid the landlords and what the tenants pay them. They estimate they can save a typical landlord £30,000 in fees over the course of their agreements, and maintain they have always been able to pay the monthly rent.
Evening Standard (19/04/2016)