Property gets on the Olympic track
Who spotted the lone property developer in the Olympic Ceremony country delegations? Unless you stayed up past the Rs you would have missed it. It turns out the Swaziland National Olympic Committee’s Olympic attaché is none other than Natie Kirsh, the octogenarian owner of Tower 42 in the City of London. Kirsh’s business beginnings were in Swaziland. So appointing him to the Olympic role – with duties including assisting with the team’s housing and travel arrangements – is not the stretch it might otherwise seem.
Who started the CVA rumour?
The rumour that a high-profile retailer has a company voluntary arrangement lined up in the wings continues to sweep the retail property market. One source described it as “the mother of all CVAs”. Diary understands that a number of major landlords have taken the rumour seriously enough to call the retailers at the top of their “At Risk” list to ask whether it is them. However, there has not yet been any confirmation. Is it a rumour started by agents enjoying one too many beers in the summer lull, or an accountant trying to drum up business?
One-stop profit for KPMG
Erinaceous. Ah, the hedgehog-like prickly one. The downfall of the “one-stop property shop” in 2008 left a lot of people out of pocket. Secured creditors got a total of £134m back. The debt of the company totalled £230m when it collapsed. Administrator KPMG seems to have done okay out of the administration, however. According to its closing report, the accountant billed £7.4m for its work. Not bad for a two-and-a-half year job.
Experience vs exuberance
The long-running battle between youth and experience always divides opinion. And it would appear that the Department for Communities and Local Government put its faith in youthful exuberance when it came to drawing up the community infrastructure levy. A trainee solicitor proudly states in a note on CLG’s website that she drafted the CIL legislation, for which no fewer than 11 major issues have been identified that need to be ironed out. It’s always good to get your best people on a job, as they say, but perhaps this one should have been left in the hands of the golden oldies.
Party time in the City
Peter Rees has a new priority; he wants to party. The outspoken City planning officer told a group of property professionals he wanted to see more focus on night time uses in their development proposals for the Square Mile. Rees said he wanted to transform the image of the area from that of daytime business hub to one that was lively around the clock. Rock on.
Spicerhaart girls are go
After London finance paper City AM dubbed Jones Lang LaSalle JLLS this week, Diary idly speculated that a wave of adviser/boy band mergers were on the cards. The Twitterati swiftly swung into action with suggestions: Hanover Green Day, Jackson 5 Stops, CBRE-17, DTZZTop, Crosby, Stills and Nash Bond and Gross Fine Young Cannibals were among our favourites. But in like a bullet at number one, pop pickers, comes the suggestion from CBRE’s Rachel Drysdale.Not a boy band, we know, but a winner nonetheless: Diary’s new favourite band, the Spicerhaart girls.
Valandy the item – Holly takes the lead
Property developer Nick Candy’s name is one of the best known in real estate. But he might not be as pleased to hear his appellation is now playing second fiddle to that of fiancée Holly Valance, after some of the tabloids dubbed the couple Valandy. The superbrand-style name means the couple may have reached new heights of celebrity fame, rivalling Brad Pitt and Angelina Jolie (Brangelina), and Tom Cruise and Katie Holmes (TomKat). But it isn’t often that the women’s name leads.
