Great Portland Reports First Asset Rise Since 2007

Central London landlord Great Portland Estates PLC have reported their first rise in assets and portfolio value since 2007.

Despite the rise, the company, who have 83% of their properties in the West End, have said they don’t expect to see a sustained recovery in the commercial property market until the second half of 2010. The company also reported a net loss for the first six months of £29.8 million, after write-downs in property values and losses on the sale of assets.

Many believe this news could be the latest sign that the London property market is over the worst of the recession. The UK commercial property market has been hit hard by the recession and has seen rents and demand for office space plummet. As a result, Great Portland stopped developments last year and doesn’t plan to re-start these until next year.

It has around 2.6 million square feet of development in the pipeline ready for the market recovery. This week they announced they had agreed a “profit-share and debt-structuring agreement” with German lender Eurohypo AG to develop the two West-End properties they have just acquired.

Penthouse to Rent, Dean Street, Soho, London, W1D

Soho Penthouse to Rent

£1,800 pw (£7,800 pcm)
Furnished
Recently constructed, this brand new two bedroom two bathroom penthouse apartment in the heart of Soho offers complete West End perspectives with clear and far reaching views.

The main core of the accommodation is a spectator and spacious tripled aspect glass reception room. This "glass-box" offers an abundance of natural light and space with a stylish modern finish. Sliding glass doors provide access to a wrap around terrace, which can also be accessed from the master bedroom suite.

Centrally situated on the sought-after Dean Street all off the famous delights of the West End are on your door step. This is truly an astonishing one-off apartment and early viewing is recommended.

Penthouse to rent, Dean Street, Soho, London, W1D

Studio to Rent, Charing Cross Road, London,

Studio to rent, Charing Cross Road, London, WC2H

£265 pw (£1,148 pcm) Part Furnished

Large newly refurbished studio flat located on the on the fourth floor (lift) of this period mansion block located on the Soho Covent Garden boarder
About Soho
Soho is a mix of the old and the new, ranging from Queen Anne period gems to swish modern blocks; from converted warehouses to high risers popular for their stunning panoramic views. Once hunting ground of the nobility (the name 'Soho' derives from an old hunting call) Soho really started to establish itself after the Great Fire of 1666. Since then it has been home to wealthy merchants, writers, radicals, artists, foreign immigrants, the film and media industries and many famous restaurants and bars, to list just a few.

Public Transport
The area of Soho is predominantly enclosed by Oxford Street to the north, Charing Cross Road to the east, Shaftsbury Avenue to the south and Regent Street to the West.
The area is well-served by public transport and is well served by an assortment of underground station. These include: Tottenham Court Road (Central & Northern lines), Oxford Circus (Central, Bakerloo & Victoria lines), Leicester Square (Piccadilly & Northern lines) & Piccadilly Circus (Piccadilly & Bakerloo lines).

Large Studio Room
Separate Fitted Kitchen
New Shower Room
Fourth Floor with Lift

Studio to rent, Charing Cross Road, London, WC2H

"Time to invest in London is now”- Hindu Times

The British Pound has plunged, the famously expensive London property market has crashed and thousands of highly skilled people have lost their jobs. According to London’s official marketing agency, all that is good news — for potential Indian investors.

“You can take advantage of the downturn to leverage new business opportunities,” Paul Bromelow, the global sales director of Think London, urged a group of Indian tech executives in Chennai on Wednesday. “But the window of opportunity won’t stay open forever…We’re estimating that it will last for another 12 to 18 months. So, the time to invest is now,” he said.

He pointed out that property rates in the West End area of London had fallen 38 per cent. “It’s best to get on the elevator now, when it’s at the lowest floor and ride it up as growth returns,” he said.

Hindu Times

Crossrail Cuts Through the West End

The Arguments for Supporting Crossrail

Crossrail will connect central London City, Canary Wharf, the West End and Heathrow Airport to areas east and west of the capital. It will bring 1.5 million people within a 60-minute commute of the city. Crossrail will be a high frequency affordable railway, with convenient and accessible services across the capital.

The £15.9 billion funding framework was put in place in October 2007 when the Prime Minister announced that Crossrail's cost will be met by Government, Transport for London and London businesses

Crossrail will not only provide London and the South East with a world-class, high capacity affordable railway, it will ease congestion on London's public transtport system, provide better access to the capital and also generate significant employment opportunities.

Crossrail

Covent Garden Christmas Pudding Race

The Great Christmas Pudding Race takes place on Saturday 6th December 2008 at Covent Garden. The event begins at 11.30am, with entertainment from street performers. The Covent Garden Christmas Pudding Race is free to attend.

This unusual event has taken place in Covent Garden every December since 1980.
Teams represent schools, universities, companies or other organisations. They race around an obstacle course carrying a Christmas pudding in order to raise money for the charity Cancer Research UK.

For further information and to enter a team into the Great Christmas Pudding Race click here

London Estate & Lettings Agents: Estate Agents Warn Of Decreasing Interest In Property Ownership

London Estate & Lettings Agents: Estate Agents Warn Of Decreasing Interest In Property Ownership