Almacantar will today unveil its £350m plans to turn Centre Point Tower, in London, into a residential scheme.

Almacantar will disclose plans for 82 flats in the tower and a redevelopment of the ground floor to create an open air piazza and courtyard the size of Covent Garden. The developer believes it can restore the faded 34-storey tower by turning it into an exclusive residential development. Almacantar expects to submit a formal application to Camden council this spring. Building could start in a year’s time. Almacantar bought the building from administrators of Targetfollow a year ago for £120m.

23-04-2012

Savills says London’s residential land values could be back at previous peak levels by 2016.

Residential land values in London are just 7% off their 2007 peak, the property consultant said in a new report. Land values have climbed 7.8% in the past year in the capital.

18-04-2012

Institutional property owners have warned the new 15% top stamp duty rate will impede investment ability and the UK’s attractiveness.

The 15% rate was introduced in last month’s Budget for houses costing more than £2m that are bought through companies. Landlords, including Grosvenor Estate, said the measure was ill-conceived. Cadogan said it had already delayed completion on a mews house it was planning to add to its 500-strong London portfolio. Cordea Savills said it would step back from making acquisitions while it negotiated a solution with the government.

16-04-2012

Small and medium-sized property companies have been taking legal action against banks that allegedly mis-sold them interest rate swaps.

Barclays settled a case just over a week ago that Wand Property, a Newport-based landlord brought. Royal Bank of Scotland faces a legal case in Edinburgh that a small property development company is bringing against the lender’s investment banking arm. Wolfstenier Roberts, a Munich-based law firm, is preparing to offer its services to British companies. The law firm is credited with forcing Germany’s banks to begin compensating business customers mis-sold interest rate swaps.

02/04/12 Daily Telegraph