News
Essential news affecting the world of property
100 Kensington, a £500m residential development featuring a 29-storey tower
July 24, 2025
Construction is progressing at 100 Kensington, a £500 million residential development by SevenCapital and MARK Capital Management. Due for completion in early 2027, the scheme will deliver 462 homes, including 276 market sale apartments and 186 affordable units, making it the largest residential project in Kensington and Chelsea. More
City of London unveils future skyline images ahead of MIPIM
March 4, 2025
4 March 2025 The City of London Corporation has released new CGI images visualising the Square Mile’s future skyline, featuring all approved and resolved-to-approve developments over the next 10 years. The images were published ahead of MIPIM, Europe’s largest real estate conference, where the Corporation will promote investment opportunities in the City. (more…) More
The Round, Foster + Partners’ design for a vacant brownfield site in Blackfriars
January 17, 2025
17 January 2025 Developer Hines has revealed new CGI images of The Round, a £2 billion, 1 million sq ft mixed-use development in Blackfriars, designed by architects Foster + Partners. The project will regenerate a brownfield site that has been vacant for 20 years, delivering 433 homes (40% affordable), 800,000 sq ft of office space, and 20,000 sq ft of cultural and educational facilities. (more…) More
Sustainable office building approved in the City of London
February 11, 2025
11 February 2025
The City of London Corporation has approved a 33-storey, 50,000 sqm sustainable office building at Gracechurch and Fenchurch Street. It will substantially reduce its carbon footprint by retaining and reusing the existing structure and materials. More
Savills reports London office market resilience in 2024 amid falling supply and record rents
February 11, 2025
11 February 2025
According to Savills, take-up in Greater London and the South East reached 2.7 million sq ft in 2024, 4% below 2023 levels and 8% below the five-year average, with sentiment impacted by the Autumn Budget. Availability fell by 15% to 12.9 million sq ft due to stock conversion and limited new development, while record-high rents were achieved in 16 submarkets as occupiers prioritized high-quality, sustainable office space. (more…) More
Bank of England reduces the Bank Rate to 4.5%
February 5, 2025
5 February 2025 The Bank of Enland's Monetary Policy Committee voted 7–2 on 5 February 2025 to reduce Bank Rate by 0.25 percentage points, to 4.5%, citing continued progress on disinflation but persistent inflation risks. CPI inflation was 2.5% in Q4 2024, is forecast to rise to 3.7% by Q3 2025, and then ease toward the 2% target. More
Construction begins on The HiLight, a £140M Battersea waterfront tower by Ghelamco UK
February 3, 2025
3 February 2025 Ghelamco UK has begun the main construction phase of The HiLight, a £140 million (GDV) regeneration project featuring a 24-storey residential tower off York Road on London’s Battersea Waterfront. Designed by Squire & Partners, the development includes 177 mixed-tenure apartments, commercial spaces, a public green, and a landscaped riverwalk. (more…) More
Foster + Partners’ King’s Road Park design secures planning approval
January 24, 2025
24 January 2025
St William, a Berkeley Group company, has secured detailed planning permission for phase four of the King’s Road Park masterplan, featuring 357 new homes, 1.9 acres of new parkland, and a restored Grade II* listed gasholder. Designed by Foster + Partners, the development includes two slender residential towers (28 and 38 storeys) and a seven-storey podium, integrating communal spaces and green areas. (more…) More
City of London Corporation approves Square Mile’s tallest tower
December 13, 2024
13 December 2024
The City of London Corporation has approved plans for 1 Undershaft, a 74-storey (309.6m) office tower, set to be the tallest building in the City, located between the Gherkin and Leadenhall Building. Developed by Aroland Holdings Ltd and designed by Eric Parry Architects, the project will provide 154,156 sqm of Grade A office space, a 1,000 sqm public viewing gallery and education space in partnership with the Museum of London, and a 2,500 sqm elevated podium garden with cultural and retail amenities. (more…) More
Earls Court 7.5 million st ft masterplan unveiled for 40 acre site
September 17, 2024
17 September 2024 The Earls Court Development Company (ECDC) has submitted a 7.5 million sq ft masterplan to transform the long-empty 40-acre Earls Court site into a global destination with 4,000 homes, 2.5 million sq ft of workspace, and cultural venues, all powered by a zero-carbon energy network. The £1.2 billion project, supported by Delancey, APG, and Transport for London, includes 20 acres of biodiverse parks and gardens with over 1,000 trees, new squares, and green streets. More
City of London approves a co-living retrofit scheme at Beech Street EC2
September 10, 2024
10 September 2024 The City of London Corporation’s Planning Applications Sub-Committee has approved a co-living development at 45 Beech Street, also known as Murray House, delivering 174 private rental units with communal amenities and landscaping. The building will be partially demolished and extended, featuring sustainable elements such as natural ventilation and a potential district heating network link. More
New development to create 300 Co-living units at Brent Cross Town
August 19, 2024
5 August 2024
Related Argent has announced a £100m (GDV) co-living development at Brent Cross Town in partnership with Halcyon Development Partners and DTZ Investors' Folk Co-living brand. This will be the first co-living project in the London Borough of Barnet. More
Knight Frank data shows a 50% fall in offers on London new homes in the run-up to the General Election 2024
August 14, 2024
14 August 2024 Data by Knight Frank shows that following an improvement in the Spring of 2024, offers made on new homes in London fell by 50% in June and July 2024. Recent data indicates an improvement over the last few weeks. More
Halifax House Price Index shows an annual increase of UK house prices by 2.3% in July 2024
August 7, 2024
7 August 2024
In July 2024, the Halifax House Price Index showed that UK house prices increased by 0.8%, on a monthly basis, resulting in an annual growth of 2.3%, the highest since the start of the year. The average house price is now £291,268, up by over £2,200 from the previous month. More
Bank of England cut base rate from 5.25% to 5%
August 1, 2024
1 August 2024
The Bank of England's Monetary Policy Committee (MPC) voted by a majority of 5 to 4 to reduce the Bank Rate from 5.25% to 5%. Four members preferred to keep the rate at 5.25%. More
City Corporation approves new hotel between the Museum of London and the Barbican
June 17, 2024
13 June 2024 The City of London Corporation has approved the redevelopment of two office buildings between the future Museum of London and the Barbican to create a new hotel. The buildings at 1-8 Long Lane will be combined into a 9-storey, 128-room hotel, with 10% provision for disabled access, contributing to future visitor demands. More
Hines and architects Foster + Partners to create a 1 million square feet mixed-use destination at Bankside, London
May 29, 2024
13 April 2024 International developers Hines have secured approval from Southwark Council for a new office and residential development at 18 Blackfriars Road on a 2-acre site that has been undeveloped for 20 years. The buildings, designed by architects Foster + Partners, are intended to be fossil fuel-free, 100% electric and Net Zero carbon in use, with 95% of the heat requirement served by ground source heat pumps. (more…) More
Mixed-use redevelopment of the Asda site in Park Royal creating a new town centre
May 14, 2024
13 May 2024 The retailer Asda has partnered with developer Barratt London to redevelop the brownfield site which currently houses the Park Royal superstore, creating a new town centre at the heart of the Old Oak and Park Royal Development Corporation major regeneration area. Subject to planning, the project will feature a 60,000 sq ft Asda superstore and 1,500 new homes, of which 500 will be affordable. More
Cauldwell’s 1 Mayfair 300,000 sq ft residential scheme
May 10, 2024
23 April 2024 Developer Cauldwell's 300,000 sq ft, 8-storey luxury residential scheme, with facades onto South Audley Street, Hill Street and Waverton Street in Mayfair, W1, is due to be completed in Q4 of 2025. Construction of the £2bn GDV project, occupying half a city block, commenced in 2017. Designed by architects Robert A M Stern, the building comprises 24 residences, including lateral apartments, penthouses and townhouses, and offers services typically associated with 5* hotels such as a health spa and swimming pool. More
Bank Rate maintained at 5.25%
May 9, 2024
9 May 2024
The Bank of England's Monetary Policy Committee (MPC) voted by a majority of 7-2 to maintain the Bank Rate at 5.25%. Two members preferred to reduce the bank rate by 0.25% to 5%. More
Nationwide indicates a 0.4% monthly drop in UK house prices in April 2024
May 1, 2024
1 May 2024
According to Nationwide, UK house prices fell 0.4% in April 2024 after considering seasonal effects, slowing the annual rate of increase from 1.6% in March 2024 to 0.6% in April 2024. House prices are now 4% below the all-time highs of summer 2022. More
Savills Q1 2024 research shows first signs of recovery for prime outer London homes
April 25, 2024
25 April 2024
According to research by Savills, prime residential property values in outer London increased by 0.8% in Q1 of 2024. The strongest performers were houses in Battersea, Clapham, Ealing, Fulham and Victoria Park. More
Oxford Street upgrade moves to the next phase
April 18, 2024
9 January 2024 The £90 million upgrade to Oxford Street, London W1 received support from 2/3 of residents, businesses and visitors who took part in a consultation. The scheme proposes a more attractive street with 40% more footway space, and improved seating, lighting, signage, trees and planting. More
City of London Corporation approves office scheme at Little New Street EC4
April 14, 2024
9 April 2024 The City of London Corporation has approved the Hill House office scheme, which will deliver over 57,000 sq m of grade A office space to accommodate around 3,000 employees at 1 Little New Street EC4A. As part of the scheme, the Shoe Lane Library will be relocated from the basement to ground level. More
Mayor of London’s vision to deliver 36,000 homes and 55,000 jobs at the Royal Docks
April 14, 2024
7 March 2024
Over £2bn of public and private sector investment is planned at Royal Docks delivering 36,000 homes and 55,000 jobs. This is part of a wider regeneration delivering 129,300 homes at development areas including London Riverside, Isle of Dogs, Thamesmead and Canada Water. More
Bank of England holds rates at 5.25%
February 2, 2024
1 February 2024
The Bank of England's Monetary Policy Committee (MPC) voted by a majority of 6-3 to keep the Bank Rate at 5.5%. Two members preferred to increase the rate by 0.25% and one preferred to reduce it by 0.25% to 5%. More
City of London approves major retrofit scheme at 65 Gresham Street EC2
January 27, 2024
14 January 2024 A mixed-use retrofit scheme at Gresham Street EC2, which will retain approximately 70% of the building's existing structure, has been approved by the City of London Corporation. The project includes landscaped terraces and new retail spaces along Aldermanbury, within walking distance of Liverpool Street station, currently the busiest station in the UK. More
Savills research highlights challenges for developers
January 27, 2024
18 January 2024
Savills 'Market Pressures' report concludes that London developers face a challenging market with a 41% decline in new build sales below £1,000psf in the past year. Private starts on-site are now 60% below the 2015 peak. More
Bank of England holds the Bank Rate at 5.25% for the third consecutive time
December 15, 2023
14 December 2023. The Bank of England's Monetary Policy Committee (MPC) voted 6-3 to maintain the Bank Rate at 5.25% for the third consecutive time. More
Updated masterplan for Earls Court
December 12, 2023
15 November 2023. The Earls Court Development Company's updated plans for the 40-acre former Earls Court Exhibition Centre include 4,000 new homes, 35% of which are affordable. More
Planning approval for 23 storey mixed-use building at Old Broad Street EC2 facilitates restoration of the Bishopsgate Bath House
November 23, 2023
21 November 2023. The City of London Corporation has approved plans for a 23-storey mixed-use building at 55-65 Old Broad Street EC2, which will facilitate the restoration of the Grade II-listed Bishopsgate Bath House, opening it to the public. More
Bank of England maintains Bank rate at 5.25%
November 9, 2023
2 November 2023. The Bank of England's Monetary Policy Committee (MPC) voted 6-3 to maintain rates at 5.25%. More
The City of London skyline by 2030
November 1, 2023
2 November 2023. The City of London Corporation has release images of how the Square Mile's skyline will look by 2030. More
Savills reports 39% decline in residential development land transactions in the UK in the third quarter of 2023
October 31, 2023
26 October 2023. The Savills third-quarter 2023 report on residential land in the UK reveals a 39% decrease in transactions, fewer sites entering the market, and a 22% decrease in planning consents in England. More
City of London Corporation grants planning for 215,000 sq ft of office space at Mark Lane EC3
October 23, 2023
The City of London Corporation has granted planning permission for a new development, 'The Mark', designed by Danish architects 3XN, for Hobart Partners and PineBridge Benson Elliot. The new building at 47 and 50 Mark Lane, London, EC3, will offer 215,000 sq ft of office space and 14,000 sq ft of cultural, food & beverage, and retail space. More
Final phase of Heart of Hale development in North East London
October 23, 2023
Related Argent has commenced the final phase of Heart of Hale, the £600m (GDV) North East London regeneration scheme at Tottenham Hale. The final phase comprises 1 and 2 Ferry Island and is designed by architects Alford Hall Monaghan Morris. More
Main structures of first two residential buildings at Brent Cross Town are now complete
September 29, 2023
25 September 2023 Brent Cross Town is one of the largest regeneration projects in Europe, with the 180-acre site expected to deliver 6,700 new homes, having a GDV of £8bn. The project is a joint venture between Related Argent and Barnet Council. More
Bank of England holds rates at 5.25%
September 20, 2023
20 September 2023
The Bank of England's Monetary Policy Committee (MPC) voted by a majority of 5 to 4 to maintain the Bank Rate at 5.25%. Four of the members voted to increase the rate to 5.5%. More
Savills report on £5 million-plus residential sales in London
September 14, 2023
14 September 2023
Savills research reports that 240 properties worth more than £5 million were sold in the first half of 2023. Although this is 21% lower than the first half of 2022, the sales are 45% above the first-half average between 2017 and 2019. More
Bank Rate increased to 5.25% in August
August 3, 2023
3 August 2023
In the August meeting of the Bank of England's Monetary Policy Committee (MPC) the members voted by a majority of 6-3 to increase the Bank rate by 0.25% to 5.25%. Two members preferred to increase the rate by 0.5% to 5.5% and one preferred to leave the rate unchanged at 5%. More
UK Bank Rate increased from 4.5% to 5%
July 10, 2023
22 June 2023
The Bank of England's Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase rates by 0.5 percentage points to 5%. Two members preferred to leave the rates unchanged at 4.5%. More
Bank of England increases interest rate to 4.5%
May 11, 2023
11 May 2023
The Bank of England's Monetary Policy Committee (MPC) voted by 7-2 to increase the Bank Rate by 0.25% to 4.5%. The two members that voted against the rate rises preferred to maintain the rate at 4.25%. More
