Good morning. Break your fast with this buffet of property stories from the national press and EG.
Big bonuses may be a thing of the past for Hammerson’s executives (£), as it launches a consultation on pay reforms to appease its revolting investors.
Meanwhile it is champagne all round at Soho House, which is planning to double its venues (£) after opening-up its exclusive club of shareholders (£). Joining fee, a mere £100m.
Google’s parent, Alphabet, has less to celebrate (£) after profits slumped in Q3 due to spending big on data centres and staff (£). Still, $7bn isn’t too bad.
HSBC has also seen its Q3 profits fall to $4.8bn, prompting Europe’s biggest bank to say it will scale down in Europe to focus on Asia (£).
The number of properties at risk from flooding will double to nearly 2m by 2050 (£), landing owners with colossal insurance bills…
… Which will add to the woes of thousands of homeowners still stuck in mortgage traps despite proposed reforms…
… But hopefully won’t pour cold water on any of Sykes’ 17,000 cottages, which Vitruvian Partners has just bought for £375m (£).
LMVH plans to increase Tiffany’s store numbers if it wins its $14.5bn bin for the jeweller. Don’t get too excited, though. Almost all of them will be in China.
Our editor Samantha is still excited, though, as she talks to Emily Wright about last week’s EG Awards in this week’s TechTalk Radio. And MetaProp NYC wizard Evan Petitt lets us know what to expect from MIPIM PropTech New York next month.
And finally, Knotel’s Amol Sarva is certainly not hiding his excitement at the ‘bloodbath’ at rival WeWork. To ensure that his schadenfreude was is no doubt he proudly wore a t-shirt emblazoned with the logo ‘Grave Dancer’ during an interview with the FT (£).
