Nadhim Zahawi joins equity group piling £1bn into Mayfair hotels Hospitality Former Tory chancellor Nadhim Zahawi has joined the board of an investment firm piling £1.1bn into two luxury Mayfair hotels. Evolution Investment Fund, based in the British Virgin Islands, has acquired a long leasehold interest in the London Marriott Hotel in Grosvenor Square and a luxury hotel development site in New Bond Street. The fund, [...]
Transport for London offers up first chance to sponsor tube line Transport and infrastructure Transport for London (TfL) has for the first time offered businesses a first of its kind opportunity to sponsor a whole tube line. London’s transport body has promoted a sponsor partnership for the Waterloo and City Line, which is traditionally used by commuters travelling from Waterloo to Canada. TfL said the offering [...]
Business rates to hammer the West End: ‘This whole policy is nuts’ Retail A rise in business rates for more expensive properties is set to hammer valuable areas like London’s West End, a leading investment firm has warned. The policy, which aims to bring down business rates for small properties by raising them for large properties, has been slammed as “unlikely to save the high street” and likely [...]
Bond Street dethrones Milan with Europe’s most expensive retail rent April 10, 2025 London’s Bond Street has been crowned Europe’s most expensive street to rent, stealing the top spot from Milan. In 2024, Bond Street reported a 20 per cent uplift in prime headline rents, taking its benchmark prime rent to €15,333 (£13,162) per sqm. It has overtaken Milan’s Via Monte Napoleone (£12,872 per sq m), which held [...]
Bond Street moves into third for world’s most expensive retail spot November 20, 2024 Bond Street has leaped-frogged Tsim Sha Tsui in Hong Kong to take bronze in a list of the world’s most exclusive retail streets. The shift bucks bucks fears about the decline of brick-and-mortar retail on the high-street and the so-called tourist tax, which has faced campaigners’ calls for scrappage. The average rent on Bond Street [...]
The pockets of London propping up the prime commercial property market August 20, 2024 The commercial prime market is, for want of a better word, doing OK. In the City, leasing increased by one per cent over its long-term average in the second quarter, while overall demand was 12 per cent below its long-term average. For a sector pummelled by downsizing amid changes to weekly working patterns, it’s not [...]