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Occupancy costs in offices across London and the South East are set to rise due to a combination of the new Elizabeth Line and the government’s business rates revaluation. Research by residential and commercial property firm JLL predicts that occupancy costs for grade A office space that is in close proximity to stations on the new line will inevitably be pushed up when it officially opens in 2017. With the next business rates revaluation due to come into effect on 1st April 2017, many occupiers will see their expenditure on occupancy costs rise. According to the research, a number of areas in central London which sit on the route of the new Elizabeth Line will experience particularly big jumps in the cost of grade A offices. Unveiling of the Logo for Elisabeth line by HRH Queen Elizabeth II The likes of Paddington which is estimated to see an average rise from £14.40 sq ft to £30.31 sq ft, Stratford (up to £17.47 sq ft from £8.16 sq ft) and Whitechapel (£16.09 sq ft to £2...

trouble in the highstreet The number of estate agents going bust has increased, with a 16 per cent rise in annual insolvencies. Figures from Moore Stephens ,  a top ten accounting and advisory network, with offices throughout the UK and members across the globe, reveal that the sector was the only industry in which the trend for fewer insolvencies was bucked last year, with 185 businesses going bust, after 160 did so in 2014.  The rate of insolvencies nationally across all industry sectors declined by 9 per cent, from 16,558 to 15,027 Three notable  insolvency sectors,  within property [ringed in red] retail ,construction and real estate. Bob Scarff [pictured above]former Country Wide plc chief, recently criticised the concentration on ‘retail’ activities by Countrywide - recently describing it as “preposterous”. A complete contrast to comments made Alison Platt the Chief Executive of Countrywide plc, bringing estate agency business int...

When a TV documentary from channel 4 aired early this year , it involved under cover reporters , emphasising london's property boom is partly being funded, by overseas buyers, laundering money. Two undercover reporters posed as unscrupulous Russian government official called “Boris” and his mistress “Nastya” whom he wanted to purchase an upmarket property in London for. The couple [featured in video below]– Russian anti-corruption campaigner Roman Borisovich and Ukrainian investigative reporter Natalia Sedletska – viewed five properties ranging in price from £3m to £15m, on the market with five different west London agents, in Kensington, Chelsea and Notting Hill. Despite being made aware they were dealing with ill-gotten gains, the estate agents agreed to continue with a potential purchase. In several instances the estate agents recommended law firms to help a buyer hide his identity. One estate agent named a “very, very good lawyer … the last person I ...