Over the years the Material Girl developed into something of a real estate mogul, collecting an impressive portfolio of properties in London, New York and Beverly Hills. Industry executives are already speculating that some of those properties may hit the open market, depending on what happens in the wake of the settlement with her soon-to-be-ex hubby, director Guy Ritchie.
The couple reportedly owns five buildings in London, plus Ashcombe House, a Georgian mansion on 1,200 acres in Wiltshire. Their portfolio also includes a building in London’s West End used as a Kabbalah headquarters. A partial list of the couple’s properties can be found here.
If it went on the market, Ashcombe might be the big prize. The estate could attract more than €25 million, property agents say.
“We look forward to hearing from Guy or Madonna if they are interested in selling,” estate agent Mark McAndrew of Strutt & Parker told the London Times.
Thursday, October 30, 2008
Sunday, October 19, 2008
Office real estate still on the floor
Deals have dried up. Just £17 billion of commercial property has been sold so far this year — the same amount that was sold in the third quarter of 2007 alone.
In central London CB Richard Ellis (CBRE), the world’s biggest real-estate agent, says only £5.2 billion of office buildings have been sold in the year to date, compared with £17.5 billion for 2007 as a whole.
Meanwhile, values are plunging. CBRE predicts that property values will have dropped roughly 20% by the end of the year — but that figure could rise after the collapse of Lehman Brothers and the events that have followed in the global economy.
In central London CB Richard Ellis (CBRE), the world’s biggest real-estate agent, says only £5.2 billion of office buildings have been sold in the year to date, compared with £17.5 billion for 2007 as a whole.
Meanwhile, values are plunging. CBRE predicts that property values will have dropped roughly 20% by the end of the year — but that figure could rise after the collapse of Lehman Brothers and the events that have followed in the global economy.
Tuesday, October 7, 2008
1-UK real estate trade shrinks further in Q3
UK commercial property worth five billion pounds ($8.92 billion) changed hands in the three months to end-September as the market continued to shrink due to a lack of debt funding and falling prices, data showed on Wednesday.
Property services firm Jones Lang LaSalle said British direct real-estate investment in the third quarter was down about 17 percent on the previous three-month period when 6 billion pounds traded.
Jones Lang LaSalle said the year-to-date total for the market stood at 18 billion pounds -- a 58 percent drop compared with the first nine months of 2007.
Property services firm Jones Lang LaSalle said British direct real-estate investment in the third quarter was down about 17 percent on the previous three-month period when 6 billion pounds traded.
Jones Lang LaSalle said the year-to-date total for the market stood at 18 billion pounds -- a 58 percent drop compared with the first nine months of 2007.
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