China has confirmed that it has detained two Canadian men in what appears to be retaliation for the arrest of Huawei’s chief financial officer.

The US Senate has passed a resolution stating Crown Prince Mohammed bin Salman is responsible for the killing of journalist Jamal Khashoggi.

Theresa May’s hopes of getting EU leaders to help her push her Brexit deal through parliament have been dealt a severe blow as she prepares to return home and face her party.

The UK’s big four auditors will next week face an unprecedented move to limit their market share and allow smaller rivals to gatecrash their self-confessed oligopoly as regulators shake up a sector rattled by a string of corporate collapses.

Mike Ashley has been rebuffed by Debenhams after he offered a £40m loan to bail out the struggling department store amid speculation it had “zero chance of survival”.

 

Brexit uncertainty has pushed a key measure of the housing market to a six-year low, according to surveyors.

Shares in Superdry have plunged by more than a third after it issued its second profit warning in less than two months – blaming mild weather for a potential £22m hit to its bottom line.

REAL ESTATE TOP STORIES

UK retail property values to drop 20% in 2018

UK retail property values to drop 20% in 2018

The UK’s five largest property funds stand to risk billions of pounds invested in the country’s struggling retail sector

According to the Financial Times, the ongoing retail crisis is reportedly predicted to see retail properties in the UK drop by 20% in value by end of 2019.

This would mean the collective exposure of the UK’s five largest property funds, including M&G Property Portfolio, L&G UK Property, Standard Life UK Real Estate, Janus Henderson UK Property PAIF and Aberdeen UK Property would stand at $5.1bn.

According to a recent report by asset manager Fidelity International on the state of the UK retail’s real estate sector, property values are set to take a 20-70% drop, which will be driven by a 10% to 40% reduction in rents to make them more appealing to retailers.

It added that around 41% of UK non-listed real estate portfolios are made up of retail assets, leaving huge swathes of their multi-billion estates at risk. This compares to around 25% in other key retail markets. This was supported by analysts at Jefferies who predicted general retail property values to drop 20.4% throughout 2019, including an 18.7% drop in retail warehouses.

Meanwhile, analysts from Barclays have predicted an 11.4% drop in retail property values next year, and a further 10.8% drop the year after that. Leading property funds are still delivering positive returns for the time being and potential investors are growing increasingly cautious about investing in the UK’s retail property market.

Furthermore, the growing number of retailers entering into a CVA, which can force landlords to significantly reduce their rents, is starting to eat away at capital values and encouraging property funds to offload assets likely to succumb to insolvencies.

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