Record breaking transaction for the Walkie Talkie
Making it London’s most expensive property ever sold, 20 Fenchurch Street is to be purchased for £1.3 billion, by LKK Health Products Group, a Hong Kong based company. Commonly referred to as the Walkie Talkie, LKK will buy out the Canary Warf Group and Land Securities to acquire the prime commercial real estate in the City.
For full briefing click here. Property Market Review August 2017
When, in early August, the Bank of England (BoE) Monetary Policy Committee (MPC) voted 6-2 to leave base rate at 0.25%, a long-running interest rate saga continued. It began in March 2009, when the MPC cut base rate to a mere 0.5% to help borrowers, banks and the economy after the global financial crisis.
For full briefing click here. Economic Review August 2017
RICS Survey Paints a Mixed Picture
Research published in August by the Royal Institution of Chartered Surveyors (RICS) showed significant regional variations in housing market conditions in the UK. RICS Chief Economist, Simon Rubinsohn, explained that whilst a small majority of surveyors across the country reported that prices were rising, there were signs that in some regions they were weakening.
For full briefing click here. Residential Property Review August 2017