UK Business Property - RSS FeedCommercial Property NewsBank of England warns of defaults on commercial property loans as values fall- April 30, 2008 The Bank sounded the alarm on a £5billion-plus wave of property lending defaults which could engulf the financial sector before it has even recovered from the sub-prime crisis.It used today's biannual Financial Stability Report to warn thttp://www.ukbusinessproperty.co.uk/news/article/668 HBOS taps shareholders for 4 billion to cover writedowns and strengthen balance sheet- April 29, 2008 HBOS unveiled a £4 billion rights issue alongside plans to cut its dividend payout to cover additional writedowns on the value of toxic assets and to shore up its balance sheet.Britain's biggest mortgage lender, which follows Royal Bankhttp://www.ukbusinessproperty.co.uk/news/article/667 Bank of England funds will not turn the mortgage taps back on- April 29, 2008 Britain's banks will be happy to swap their hard to sell assets for trusty government debt, but don't look for them to increase their exposure to the teetering housing market.The Bank of England has agreed to swap at least £50 billion ofhttp://www.ukbusinessproperty.co.uk/news/article/666 Inside Track Seminars - the Buy to Let evangelist has gone into administration- April 29, 2008 Inside Track, the company that spearheaded the buy-to-let investment boom,has gone into administration. Inside Track blames the credit crunch for its collapse as banks tighten up on buy-to-let lending, effectively ending 100% loans. Profihttp://www.ukbusinessproperty.co.uk/news/article/665 Developers move retail schemes to the back burner- April 29, 2008 Retail developments are being shelved across the country as the effects of a funding crisis for commercial property are exacerbated by fears of flagging consumer demand, The Financial Times reports.The proportion of currently planned shoppinghttp://www.ukbusinessproperty.co.uk/news/article/664 RBS to start ABN AMRO integration at a cost of 7000 jobs- April 28, 2008 Royal Bank of Scotland will this week start the integration of ABN AMRO's investment bank in a move likely to trigger the loss of about 7,000 jobs out of a combined total of 28,000, the Financial Times said.The newspaper, without citing sourcehttp://www.ukbusinessproperty.co.uk/news/article/663 Bid battle for Trillium hots up with entry of Vincent Tchenguiz consortium- April 28, 2008 A high-powered consortium has entered the bidding for Land Securities Group Plc.'s property outsourcing business Trillium, setting the scene for an intriguing £2 billion takeover battle for the unit, said The Sunday Times.The property tyhttp://www.ukbusinessproperty.co.uk/news/article/662 Whitbread delight the market with strong full year results- April 28, 2008 Whitbread, the owner of Britain's biggest hotel and coffee-shop chains, reported a 26.3% rise in annual pretax profit and said the start of this financial year had been encouraging.Pretax profits, before exceptionals, were £210.3 millionhttp://www.ukbusinessproperty.co.uk/news/article/661 M& B confirm no bid talks for whole business continue.- April 25, 2008 Mitchells & Butlers, the Pubs group said today it was not in talks over a possible bid for the whole company, but that it remained in talks with parties seeking a large stake in the business."The board is continuing discussionshttp://www.ukbusinessproperty.co.uk/news/article/660 Brixton points to little trnsactional evidence of falling commercial property values, despite the IPD index.- April 25, 2008 Brixton, the property REIT, has in it's interim management statement of trading, noted that there has been little transactional evidence in the commercial property market, of falling property values. The say that shortage of funding and unrealistic vendorhttp://www.ukbusinessproperty.co.uk/news/article/659 |