Double whammy

Article Abstract:

Speculation over possible tax changes affecting the UK real estate industry have led to a drop in stock prices for the sector. There are rumors that stamp duty could be increased in the Budget and this would affect both commercial and residential real estate. Turnover would be reduced, the number of households with debt higher than the value of their houses would increase, and transaction costs would rise for real estate companies. UK stamp duty is charged at a lower rate than in Germany and France.

Taxation

---

Property giant bows to shareholder pressure

Article Abstract:

MEPC will sell its Australian and US activities and focus on the United Kingdom, returning a minimum of 300 million pounds sterling to stockholders. The rest is to be invested in UK real estate. This is part of a wider restructuring following criticism of the company's performance by stockholders and an attempted takeover bid for MEPC by Hammerson in early 1997. The company has also carried out a refinancing following the appointment of a new finance director.

Mergers, acquisitions and divestments, MEPC PLC

---

Overheating

Article Abstract:

There is concern that the real estate market in central London, England, could be overheating. Berkeley's managing director, Tony Pidgley, has stated that he is no longer purchasing land in the center of London. Others see prices likely to continue to rise. Construction starts rose by 32% in central London in 1st half 1997, with 2.7 billion of residential real estate development being carried out in that period, according to London Residential Research.

London, England

Similar abstracts:

• Abstracts: Sources of gains to shareholders from bankruptcy resolution. The accuracy of the tick test: evidence from the Australian stock exchange
• Abstracts: Publishers eye Disney b-to-b titles. Marketing to the marketer: the new roles of the trade press. We're not just getting older - we're getting better, too
• Abstracts: The dawn of interactivity. Sunny money has offshore allure
• Abstracts: A good vintage finally comes of age. 3i goes European but trails F and C. Y viva investment capital
• Abstracts: Prop. regs. on intangibles show caution is needed in acquiring partnership interests. Accounting issues

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.