Jan. 22 (Bloomberg) -- Queen Elizabeth II evaded Britain’s worst residential and commercial property slump in three decades last year thanks to the 480,000 acres (194,000 hectares) of farms, forests and parkland she owns across the country.
Investment returns from rural land averaged about 10 percent last year, according to Smiths Gore, which manages more than 2 million acres in the U.K.
The queen is Britain’s largest legal landowner when her private estates, Balmoral Castle and Sandringham,
Saturday, January 24, 2009
Wednesday, January 21, 2009
A wealthy Irish property developer has been found dead at his home
Patrick Rocca, 41, was discovered with a single gunshot wound to the head. The Irish Gardai said they were satisfied that nobody else was involved.
Mr Rocca had a fortune which was put at €500m (£462.9m) in 2007 and he is thought to have completed 20 property deals in the UK worth more than €300m through his company, Accorp Properties.
According to reports in the Irish press, the father-of-three may have lost large sums of money in Anglo Irish – the Irish bank that collapsed into full nationalisation last Friday.
Mr Rocca was a member of the prominent family that once owned Rocca Tiles. They include his sister, former Miss Ireland, Michelle Rocca, who is the partner of Irish musician Van Morrison.
Mr Rocca had a fortune which was put at €500m (£462.9m) in 2007 and he is thought to have completed 20 property deals in the UK worth more than €300m through his company, Accorp Properties.
According to reports in the Irish press, the father-of-three may have lost large sums of money in Anglo Irish – the Irish bank that collapsed into full nationalisation last Friday.
Mr Rocca was a member of the prominent family that once owned Rocca Tiles. They include his sister, former Miss Ireland, Michelle Rocca, who is the partner of Irish musician Van Morrison.
Friday, January 16, 2009
Big 4 Real Estate Consultant - LONDON
Our client provides industry-focused assurance, tax and advisory services. They provide services to Property Companies; International Investors; Financial Institutions; and Corporate occupiers. They are establishing a dedicated corporate real estate consulting group within Performance Improvement Consulting. This group will lead the Firm's real estate advice to corporate occupiers working with all service lines to enable the provision of a one-stop shop for corporate real estate advice across all industries.
The group will have three key propositions: Property strategy and planning, management and governance, and delivery. The group needs to grow rapidly to meet the needs of their existing client base. The growth targets for the group are 25 people within 2 years developing a business with a turnover of c. £5m. There are positions available at all levels within the Group, being in at the beginning will present opportunities to grow your career rapidly to match the growth of the group and to shape the growth of the group with unparalleled opportunities. At manager and senor manager level you will be responsible for assisting in recruitment, winning work and developing propositions.
The group will have three key propositions: Property strategy and planning, management and governance, and delivery. The group needs to grow rapidly to meet the needs of their existing client base. The growth targets for the group are 25 people within 2 years developing a business with a turnover of c. £5m. There are positions available at all levels within the Group, being in at the beginning will present opportunities to grow your career rapidly to match the growth of the group and to shape the growth of the group with unparalleled opportunities. At manager and senor manager level you will be responsible for assisting in recruitment, winning work and developing propositions.
Saturday, January 10, 2009
Lower mortgage bills for £750,000 in London
ABOUT 750,000 London homeowners can look forward to lower mortgage bills next month following today's historic cut in interest rates.
Between 40 and 50 per cent of mortgage holders will get some benefit from the 0.5 per cent reduction. However, it was unclear how much lenders would cut - if anything - from their rates for new borrowers.
Nine out of 10 homeowners with tracker mortgages and many on standard variable rates will be told their repayments will come down in line with the Bank of England's base rate.
But tracker borrowers with the Nationwide and some smaller building societies such as the Skipton and Yorkshire will not receive a windfall.
Between 40 and 50 per cent of mortgage holders will get some benefit from the 0.5 per cent reduction. However, it was unclear how much lenders would cut - if anything - from their rates for new borrowers.
Nine out of 10 homeowners with tracker mortgages and many on standard variable rates will be told their repayments will come down in line with the Bank of England's base rate.
But tracker borrowers with the Nationwide and some smaller building societies such as the Skipton and Yorkshire will not receive a windfall.
Sunday, January 4, 2009
Co-head of M.Stanley Real Estate to step down
John Carrafiell, joint global head of Morgan Stanley Real Estate (MS.N), is stepping down from his role in January, a spokesman said on Monday.
Carrafiell, who took a leading role in the 1.7 billion pound
($2.51 billion) acquisition of London's Canary Wharf business district in 2004 - Britain's biggest-ever property deal - will hand over his duties to New York-based co-head Sonny Kalsi next month.
Carrafiell's next career move is unclear but he will remain a senior adviser to the bank and continue to serve on the boards of Morgan Stanley-backed property companies including Canary Wharf Group, retail developer and investor Multi Corporation, German property company Deutsche Immobilien Chancen AG and Spanish property firm Grupo Lar.
Carrafiell, who took a leading role in the 1.7 billion pound
($2.51 billion) acquisition of London's Canary Wharf business district in 2004 - Britain's biggest-ever property deal - will hand over his duties to New York-based co-head Sonny Kalsi next month.
Carrafiell's next career move is unclear but he will remain a senior adviser to the bank and continue to serve on the boards of Morgan Stanley-backed property companies including Canary Wharf Group, retail developer and investor Multi Corporation, German property company Deutsche Immobilien Chancen AG and Spanish property firm Grupo Lar.
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