Owners of landmark expect offers around £550m after currency fluctuations force them to sell, acording to Deloitte

The Gherkin, voted London’s favourite tower, has been put into receivership 10 years after its completion helped transform the capital’s skyline.

The 41-storey City landmark is likely to be put up for sale shortly and is expected to attract offers of more than £550m from Middle East sovereign wealth funds and other potential buyers.

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North-west bears brunt of empty shops with vacancy rate of 17.3% compared to 12.2% average with small towns performing best

Retailers in the north and south of Britain face dramatically different conditions despite a slight fall in the proportion of empty shops across the country last year, new data released shows.

Shop vacancy rates fell below 14% for the first time since July 2010 to 13.9% in December last year, according to the latest figures from the Local Data Company (LDC). That compares to 14.6% in February 2012, suggesting that an improving economy and widespread efforts to help town centres are paying off.

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Britain’s second-biggest property company says there is more interest in its London office space

British Land said the UK commercial property market was strengthening with increased investment spreading from London into regional markets.

In a trading update, Britain’s second-biggest property company said there was more interest in its London office space and that retailers were looking to open new stores.

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Over the coming days the skyscraper’s owners will attempt to persuade the property industry that it is finally more than just a nice view. But even with all of the support coming from Doha for one of the country’s highest profile investments, the office complex will only be around a third full. Roll over the graphic to find out how much of each section of the building is currently occupied … Continue reading…

London skyline’s £1.5bn addition remains all but empty year on from opening, with flats designed to pull in super-rich unsold

Soaring 310 metres (1,016ft) high and with 72 storeys, everything about the Shard is dramatic.

The London Bridge skyscraper the capital’s newest landmark, with views stretching 40 miles and which is visible to drivers crawling around the M25 bills itself as “Europe’s first vertical city”.

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Cork Street dealers say property development is a threat to character of St James and Mayfair

London’s reputation as a romantic destination for lovers of art and style will hang in the balance this Valentine’s Day, as the deadline passes for public responses to a scheme to safeguard the look and traditions of Mayfair and St James’s against the influx of rich foreign residents.

The two grand, chiefly Georgian-built areas of the capital are a big draw for tourists and daytrippers, fanning out around Cork Street, renowned for its art galleries and salesrooms, and around Savile Row, for many years the heart of Britain’s bespoke tailoring industry.

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From crime-fighting lampposts to Zaha Hadid’s Olympic pool opening for business and a rise in social housing (finally), Oliver Wainwright charts the trends that will dominate 2014

It may sound like a prediction made while still high on brandy butter, drunk with New Year optimism, but 2014 will see an increase in the volume and quality of social housing built by local authorities for the first time in decades. After a rule change that allows councils to spend housing rental income on building new homes, and a relaxation of local authority borrowing caps, up to 25,000 council homes could be built over the next five years. East London borough Newham is leading the way, with a pilot project of modular homes designed by Richard Rogers, along with opportunities for younger architects to get involved. Let’s hope we see more initiatives like Peabody’s recent competition, allowing smaller practices to bypass cumbersome EU procurement rules.

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Andrew Haldane says there is hope next property cycle will be different, and welcomes discussion on more realistic valuations

The prospect of decades of damaging property booms and busts coming to an end has been raised thanks to proactive policymakers and more realistic valuations from the real estate industry, a top Bank of England official has said.

Against the backdrop of a crash that left commercial property prices 37% below their peak, Andrew Haldane, executive director for financial stability at the Bank said there were reasons to hope the next cycle could be different.

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Chief executive Robert Noel said the problems at the building, which made news for its solar glare over the summer, would not delay tenants moving in

Property company Land Securities said it was close to fixing the problems at its Walkie-Talkie City skyscraper after the glare from the building melted car parts on the street below over the summer.

Chief executive Robert Noel said the problems at the building, which is still under construction, would not delay tenants moving in or exceed the budget set aside for its £240m share of the development.

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Property developer and driving force behind the creation of the Canary Wharf office complex in London’s docklands

Look east along the river Thames from central London and the legacy of Paul Reichmann, the property developer who has died aged 83, rears up in full view. As the driving force behind the Canary Wharf complex that rose on what were once desolate docklands, Reichmann left an indelible mark on the capital.

With its landmark tower topped by a blinking pyramid that attracted the ire of the Prince of Wales, Canary Wharf tore at hundreds of years of history by shifting the centre of gravity of London’s financial centre. Reichmann was arguably one of the first to understand that the east was where London’s future lay.

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The autumn internationals feature eight teams from around the globe but the All Blacks stand apart

In they come, filling November at the mid-point between World Cups, eight teams from the far sides and the other end of the globe. In two years’ time we shall be four days away from knowing who the next world champion will be, and the scramble starts now to see if anyone can prevent it being yet again one of the teams about to land.

Only England in 2003 have prised the grip of New Zealand, South Africa and Australia from the Webb Ellis Cup. They do have the advantage of home as they try for a second time. The problem for the host nation of RWC 2015 is that New Zealand, victors in 2011, have kicked on since then, expanding their game, hardening the noses of their forwards, pushing back the frontiers of the known game. Their mini-series against South Africa in the Rugby Championship took rugby union to a new plane, its mesmeric qualities spoilt only by the wrongful dismissal of Bismarck du Plessis. It was to be noted that the “Bismarck is Innocent” campaign was a relatively muted affair a bit like “Dylan is a Saint” in defence of Hartley of Northampton. On the count of both hookers it was a case of, well, he is and he isn’t.

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Walkie Talkie developer pays £104m to take almost full control of owner of Xscape indoor ski slopes and Brighton Marina

Property company Land Securities has paid £104m to take almost full control of the X-Leisure fund, which owns the Xscape indoor ski slopes and Brighton Marina.

It has increased its stake in the UK’s biggest leisure portfolio by 35.6% to 95% as part of its strategy to expand its portfolio of leisure assets.

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FTSE 250 property company Shaftesbury, which owns shops, restaurants and cafes in the West End, sees strong demand pushing up rents

London’s West End is “flourishing” according to one of the area’s biggest owners on Tuesday, as demand from people seeking to live and work in the capital hits “unprecedented” levels.

The FTSE 250 property company Shaftesbury said strong demand for all its commercial and residential space was pushing up rents and driving high occupancy levels.

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Return on the estate’s £8.1bn portfolio, which includes Regent Street and Windsor Great Park, was 11.3%, comfortably outperforming the property industry benchmark

The Crown Estate, owner of Regent Street, Windsor Great Park and manager of the UK’s coastal waters, has announced a record profit of £253m.

Profits were up 5.2% on last year, a welcome boost for the public accounts, as all Crown Estate profits flow into Treasury coffers.

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Their promoters claim property funds pay a much better annual income than bank accounts and offer a decent chance of future capital gains. We take a look at the risks and rewards

Bonds are in “bubble” territory, the critics say, and equities, even after recent falls, are expensive. Deposit accounts at banks, meanwhile, pay miserable interest. Is commercial property, still 40% below its 2007 peak and paying a yield of around 5% a year, the better option?

Small investors can choose from a number of property funds, most which can be put in a tax-free Isa. Their promoters claim they pay a much better annual income than bank accounts, yet also offer a decent chance of future capital gains.

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The good part was the 56% rise in underlying profits to £475m but a decent chunk of property-related losses from the retail sector and elsewhere are washing up at Nationwide’s door

Nationwide is entitled to a boast or two. The building society had a decent crisis, maintaining capital strength and even helping up to mop up a few spillages elsewhere, such as the over-extended Dunfermline Building Society.

But chief executive Graham Beale should be careful not to overdo the hyperbole. A casual reader of Wednesday’s full-year figures could be forgiven for thinking the Nationwide had a near-perfect year. A better description would be: strong but with one horrible scar.

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The relaxation of planning laws will blight our high streets and countryside we will look poorer even if we get richer

Everyone cares about the economy. I’m worried about it myself. “How is the economy really doing?” I often wonder. I scrutinise the ups and downs of the FTSE as if it’s the heart monitor of a sickly, giant, invisible loved one. I see boarded-up shops and worry that the economy is dying. I spot a crowded bar and hope it means the economy is fine. At the moment I’m not short of money, but I’m regularly informed that, while the economy’s wounds continue to suppurate under Dr Osborne’s eccentric poultices, I could easily and suddenly become so.

The economy is an incredibly important thing, most of us would agree. But it’s intangible. Whether it’s doing well or not, you’ve still either got a job or you haven’t. If it’s doing well, you’re statistically more likely to have a job, but you’ve still either got a job or you haven’t. In general, we don’t know whether we’re personally experiencing the economy. We can’t sense a fall in GDP, we just hear about it and slot our own situation into the media’s narrative. If we’re told the economy’s weak, then the poor are poor because of that, and the rich rich despite it. In a supposed boom, it’s the other way round.

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Properties deals are ripe for the picking, says Angela Dennis

The news over the past few years about commercial property has often involved doom and gloom, with premises becoming vacant and some companies being tipped into insolvency by their property commitments. But a lot of problems were due to the fact property had been acquired years ago on inflexible terms, such as rents that were too high, or having to pay three months rent in advance.

The commercial property market has evolved considerably over recent years, particularly with the pressure resulting from the tough economic times. There are now deals on offer which could make it worthwhile businesses dipping their toe back into property before things change again. I believe there is unlikely to be a better time to do deals and, in some cases, property can be just the launch pad a business needs to move to the next level.

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The former headquarters of the WDA in Cardiff, Plas Glyndwr, acquired by Ardstone Capital