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17th October 2014
Neil Collins of the Financial Times defends planning policy changes which mean London office tenants can be evicted to allow residential conversions, arguing that new homes makes the capital a better place for both residents and workers. He comments that “A market force that replaces the daily tide of workers into the centre and out again with a multidirectional scramble will ensure a better use of London's crowded streets and trains”.
Financial Times (11/10/2014)
10th October 2014
Mayor Boris Johnson has intervened in the redevelopment of South Quay on the Isle of Dogs, in order to meet concerns that the number of tall buildings planned for the area could have an adverse effect on the capital’s skyline. He will work with Tower Hamlets Borough Council to create a masterplan for the area, offering a guide to developers as to what is deemed acceptable. Sir Edward Lister, deputy mayor for planning, said “what we cannot allow is a situation where planning is granted on a first-come-first-served basis with no overall strategy, as this could eat up valuable space, have a negative impact on the public realm and potentially cause other schemes to collapse”.
Source: Property Week (03/10/14)
10th October 2014
A consortium led by Dubai-based Arzan Wealth has purchased an 11-acre site at Crossharbour on the Isle of Dogs from Ashbourne Beech. Currently home to a branch of Asda, the site has planning approval for an 850-apartment development, although a new planning application is now likely to be submitted. Arzan’s chief executive Muhannad Abulhasan said the development would be aimed at meeting a shortage of “affordable and middle-income units for the general London population”, rather than at wealthier customers and speculators.
Source: The Wharf (07/10/14)
10th October 2014
Research consultancy EC Harris has warned that London’s high-end property developers are being faced with construction delays and rising costs
10th October 2014
Assem Allam, one of Labour’s top donors, has called Labour’s mansion tax a “very bad idea” and a “vote killer”, warning of its inevitable negative effect on house prices,
10th October 2014
A poll conducted by Boston Consulting Group has found that more workers around the globe wish to come to London to work than any other city, with New York and Paris a close second and third. Respondents found the UK in general to be the second most attractive nation to work in, missing out on the top spot to the US.
Source: The Daily Telegraph (06/10/14)