Real estate news

• Crest Nicholson sits crestfallen as Bellway suddenly walks away

  13-08-2024 19:21
  Damage to the smaller housebuilder’s reputation will take time to heal but a takeover deal isn’t a deal until it’s signedBellway’s plan to buy smaller housebuilder Crest Nicholson for £720m-ish in shares was proceeding smoothly as recently as last Thursday, or so we were told. “Good progress has been made on reciprocal due diligence with a number of elements satisfactorily completed by both parties,” purred the two boards in harmony.Five days later, the
  
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• Bellway walks away from £720m Crest Nicholson takeover bid

  13-08-2024 16:19
  UK housebuilder said it did not intend to make a firm offer for its smaller rival after months of negotiationsBusiness live – latest updatesThe UK housebuilder Bellway has walked away from a £720m takeover bid for its smaller rival Crest Nicholson after months of negotiations.Bellway said it “does not intend to make a firm offer for Crest Nicholson”, without giving any reasons. Continue reading...
  
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• ‘I’ve met seven housing ministers, one of them twice’: the head of Homes England on the battle to build

  13-08-2024 15:00
  In the light of Labour’s ambitious housing programme, Peter Denton, the man charged with getting residential projects started for the private sector, has his work cut outPeter Denton, the chief executive of Homes England, is used to meeting housing ministers. “If I count one twice, he is the eighth housing minister I have met,” he says, referring to Matthew Pennycook, the new man in the role.There have been 16 entrants on the housing minister merry-go-round since 2010, and sinc
  
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• Blackstone sells 3,000 homes worth £405m to UK’s biggest pension fund

  13-08-2024 13:04
  Universities Superannuation Scheme acquires shared ownership properties from US private equity groupBusiness live – latest updatesThe US private equity group Blackstone has sold more than 3,000 shared ownership homes to Britain’s biggest private pension fund in a £405m deal, the latest by big investment companies in the UK housing sector.The New York-based company sold the portfolio to the academia pension fund, the Universities Superannuation Scheme (USS), which manages more t
  
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