Hamptons International – parent group of Hamptons Mortgages – was sold last week for 82m to Dubai-based Emaar Properties by owner Wheelock Properties.The group says the news will be a boost for the entire Hamptons UK operation including the estate agency business and the mortgage brokerage. Kevin Duffy, managing director of Hamptons Mortgages, says the change in ownership of its parent group will involve little initial change to the everyday running of Hamptons Mortgages. He says: “Our buyer is well capitalised and committed to developing the Hamptons brand further in the UK, Europe and globally, which is good news for our staff and business partners.” Founded in 1896 Hamptons had a number of owners and was based in various parts of London before being bought in 1996 by Cluttons London Residential Agency with backing from a number of UK and international firms. One of those firms was Wheelock Properties, originally trading under the name Marco Polo Developments, a property investor and developer focussing on luxury residences. Last spring it bought all the issued share capital of Hamptons. New owner Emaar is a construction and property development firm with profits of $407m. The company has begun construction of its most ambitious project in the United Arab Emirates. The $20bn Burj Dubai Downtown development will include the Burj Dubai which will be the world’s tallest tower when completed in 2008.
Assetz Fund Management is to lauch a new property fund providing developer finance for a 75m mixed use scheme in Ipswich.The launch comes following the Finance Act on July 20, which confirmed that indirect residential property ownership is permitted within a SIPP.The fund will help finance the landmark scheme, The Mill, a 75m new waterfront […]
Halifax’s latest house price index reveals that house prices have increased by 0.2% in July following successive declines in May and June. The bank says this mixed pattern of monthly price rises and falls is a typical feature of a more stable housing market.The corresponding monthly figures last year were weak and have, as expected, […]
Aidan Plumridge is marketing and business development manager at Cassidy DavisThe mortgage payment protection insurance market has undergone a shake-up over the past 12 months with product providers introducing innovative products to what was once considered a ‘one size fits all’ sector. Today there is increased flexibility, choice and affordability, making MPPI a more attractive […]
Chris Taylor, Investment Director & Head of Research at Neptune The oil price has more than halved over the past 18 months. Many market participants assume this is a temporary phenomenon. We believe they are wrong. Our analysis of the changes taking place in the real world suggests the oil industry is adapting to life […]
News and expert analysis straight to your inboxSign up