Good morning.
An heir to the £2bn Portman Estate has been convicted of an antisemitic attack(£). Piers Portman, who is thought to have a £300m share in the estate, will be sentenced in October after hurling abuse at the chair of the Campaign Against Antisemitism.
Dividends(£) from share holdings(£) will be hit with an additional 1.25% tax as part of the government’s plans to tackle social care. This is on top of a planned 1.25% hike in national insurance(£).
And interest rates may need to rise next year too, says a Bank of England(£) policymaker.
Property investor Castleforge is to make the former Heal’s building on Tottenham Court Road, W1, its HQ.
The botched Green Homes Grant(£) spent £50m on administration(£) costs, despite being scrapped after a year.
House prices(£) in Britain hit a fresh record high(£) last month, but the pace of the rise is slowing.
And they will continue to rise(£), too, says Vistry’s boss, unless something can be done about the skills shortage(£).
Incidentally, Vistry’s share price(£) ended the day 3.2% higher at 1,262.4p, after raising its profit expectations.
Rents outside London(£) are rising at their fastest rate on record, with some parts of the country seeing a 10% increase.
A billionaire couple has angered neighbours in the Cotswold village they moved to 18 months ago, by proposing a 24-home development(£) to liven the place up.
In the US, Pimco’s $3.9bn planned buyout of Columbia Property is a big bet on offices, says The FT (£).
While in China Evergrande’s troubles are shaking the property bond market(£).
And finally, the tech entrepreneur who made his first fortune from diapers is planning a $400bn city in the desert. Somewhere. Marc Lore has said that the new city of Telosa(£) – name first, plans later – will be “a new model for society”, drawing on the best qualities of New York, Stockholm and Tokyo. With Danish architect Bjarke Ingels in charge of the design, Lore says the first $25bn phase will be completed by 2030. He even knows that the carbon-free community will have a soaring, “caring” skyscraper, filled with aeroponic farms, called Equitism Tower. Well, that’s all the hard details taken care of. Now he just needs to find anyone to back it and a place to put it. So far he has looked into Nevada, Utah, Idaho, Arizona, Texas and the eastern Appalachian region.
