YOUR REGULAR PAPER INSIDE → BUSINESS WITH PERSONALITY 20 HOT PROPERTY FRIDAY 13 SEPTEMBER 2019 CITYAM.COM HOTPROPERTY ALL YOU NEED TO KNOW ABOUT THE LONDON PROPERTY MARKET Edited by Helen Crane BUSINESS WITH PERSONALITY SHORE THING NEW BUILDS NEW DEVELOPMENTS ON THE MARKET THIS WEEK BATTALION COURT, WOOLWICH This Saturday, Bellway is launching a new show home at its Battalion Court development in Woolwich. The homes are perfectly placed for buyers looking to take advantage of the ossrailCr effect, with nearby OUR GUIDE TO Woolwich station set to open in 2020. One, two and three-bed apartments are available and all of the homes fit the criteria for the Help to Buy Equity Loan Scheme. Prices start from £343,000. £ Call 0845 548 8032 or visit bellway.co.uk RIVERSIDE P20 NINE ELMS POINT, VAUXHALL LONDON SQUARE, SPITALFIELDS NEW GARDEN QUARTER, STRATFORD THE ALTA COLLECTION, LAMBETH POPCORN AT THE READY From £3.99m for a three-bed From £899,000 orf a two-bed From £725,000 orf a three-bed From £6.95m orf a four-bed Two three-bedroom penthouse artmentsap have just On Thursday, developerondon L Square launched two A collection of five new homes has just omec to market The final six homes are now available for purchase at been launched at Barratt London’s Nine Elmsoint P street-level apartments at London Square Spitalfields at Telford Homes’ New Garden Quarter development The Dumont, St James’ apartment building on Albert near Vauxhall. The Archer penthouse has two living on Wentworth Street. Aimed at youngamilies, f the in Stratford. The dual-level ‘Garden Villa’ apartments Embankment. Known as The Alta Collection, the areas, two balconies and audy, st while the star feature two-bedroom apartments have their own front door, each have three bedrooms, a stand-alone, eat-in homes are situated on the 18tho 29tht floors and each PROPERTY of the Wilberforce penthouse is a 38ft wide private full-height windows and access to a private winter kitchen featuring Smeg appliances and a large privatehave four bedrooms, kitchens and livingeas ar with terrace for outdoor entertaining. Bothomes h will garden. London Square Spitalfields is withinalking w terrace space, and range in size from 1,238 sqo ft t river views, and open plan layouts with ingslid glass benefit from the arrival of Ninelms E underground distance of the Cityand is located next to the historic 1,419 sq ft. Buyers will also havecess ac to a 24-hour doors. Located close to the Tate Modern and Damien station when it opens in 2021. Studios, one-beds and Toynbee Hall. There is under-floor heating throughout, FREE concierge and gym, and will have the opportunity to Hirst’s Newport Street Gallery, they are ideal for art two-beds are also still available at the cheme,s with parking is available and the apartments are ready to have their home furnished by online interior design enthusiasts. British interior design house Spinocchia prices starting from £639,995. move into. service Homewings at noxtra e cost. Freund has fitted out the apartm £Call 0372 291 2880 orvisit barrattlondon.com £Call 0333 666 0110 or visit londonsquare.co.uk £Call 020 3930 2469 or visit newgarde FOCUS ON Find your ideal hom b DOWNTON AND J-LO HIT Th THE BIG SCREEN P28-29 CITYAM.COM Heathrow exec ISSUE 3,456 TAKING A FLYER FRIDAY 13 SEPTEMBER 2019 warns of potential budget bust ECB CALLS EU STATES forever”, said Janus Henderson’s An- drew Mullner. “The parallels to Japan “a two-tier system” will be launched are clear,” he said, referencing the in which part of banks’ excess liquid- HARRY ROBERTSON country’s decade-long struggle with ity will be exempt from the charge. anaemic growth and inflation. TO ACTIONUnder the restarted bond-buying @henrygrobertson In a press conference, Draghi programme, known as quantitative blamed the slowdown in growth and THE EUROPEAN Central Bank (ECB) easing (QE), the ECB will buy €20bn inflation on the “weakness of interna- yesterday unveiled a major stimulus (£17.9bn) of mainly government £14bn, but its biggest customer, tional trade in an environment of International Airlines Group (IAG), has package as it seeks to revive an ailing bonds each month from November prolonged global uncertainties”. ALEXANDRA ROGERS Eurozone economy, cutting interest and will continue to do so until infla- questioned that figure. The euro fell as much as 0.7 per cent Speaking at the London rates for the first time in three years tion rises to two per cent. against the dollar following the @city_amrogers and restarting its giant bond-buying Draghi’s gambit was not unani- Infrastructure summit yesterday, announcement yesterday, but has A HEATHROW director has likened which was held in Tottenham’s new programme. mously supported, with Bloomberg since rebounded. the airport’s £14bn expansion plan to However, Mario Draghi used his £850m stadium, Gilthorpe said: reporting that several members of the US President Donald Trump Tottenham Hotspur’s new football penultimate rate-setting meeting as ECB governing council opposed the “We’re sitting in this fantastic piece of responded furiously, tweeting: “They stadium, which ran massively over infrastructure today that took many ECB president to say in his strongest stimulus package. are trying, and succeeding, in depre- budget. The new bond-buying scheme years to deliver, and I think I’m right terms yet that the onus is now on ciating the Euro against the VERY Emma Gilthorpe, Heathrow’s governments to boost stubbornly comes as the Eurozone economy in saying it wasn’t quite on time and strong Dollar, hurting US exports.” executive director for expansion, said on budget. low growth and inflation. begins to falter. Draghi down- Draghi used his press conference to major infrastructure projects were At the governing council graded the ECB’s growth predic- “And that’s no criticism to Spurs or make clear that ECB actions on their “very challenging to deliver” and that to the people that delivered it.” meeting in Frankfurt, the tions and said inflation is slated own were not enough to breathe life details were “pinned down” far too Eurozone’s central bank cut its to drop to one per cent in 2020, half the ECB’s target. into the Eurozone economy. early in the process. £ CONTINUES ON P3 deposit rate –the interest which The inflation- “Fiscal policy should become the Heathrow has insisted it is able to banks receive on excess cash linked promise “is main instrument” to boost inflation deliver an expanded airport for kept at the ECB – by 0.1 as good as QE and growth, he said, and encouraged percentage points to the surplus-running50bn Dutch investment govern- ▲ minus 0.5 per cent. European Central ment to activate its € 1.106 +0.005 To mitigate the ▼ Bank president programme. £/€ 1.115 -0.005 €/$ effects of negative Mario Draghi £/$ 1.233 unc. rates, which mean NASDAQ ▲ 8,194.47 +24.79 banks pay the ECB ▲ to hold their cash, DOW 27,182.45 +45.41 ▼ 19,962.57 -19.59 FTSE 100 ▲ 7,344.67 +6.64 FTSE 250 02 NEWS FRIDAY 13 SEPTEMBER 2019 CITYAM.COM MORE EXPENSIVE THAN BITCOIN Rare Islamic gold dinar expected to fetch around £1.4m at Sotheby’s auction next month THE CITY VIEW High street headwinds hit John Lewis hard OHN Lewis Partnership reported its first ever half-year loss yesterday, blaming falling sales and rising costs for a Jgloomy six months. It’s bad news for incoming chair – and retail rookie – Sharon White, who has a challenge on her hands to turn around the department store’s fortunes. The issues facing the retail giant aren’t new – profit margins fell 90 per cent in the first half of last year – but they appear to be deepening as the high street struggles to adapt to the internet economy and high property costs. While some turn to mass discounting to boost sales, few retail-watchers believe White would be wise to pursue that tactic at the beloved brand. Instead, investing in transforming stores and capturing market share could secure John Lewis’ future. It’s hardly a surprise that some are questioning the “never knowingly undersold” strategy STAFF at Morton and Eden are expecting to fetch a staggering £1.4m when they sell an extremely rare gold coin at auction in London. The sale at Sotheby’s in October will feature a series of Islamic coins, including this 20 millimetre gold dinar, which is when profits are plummeting. But a reputation for quality is just smaller than a £1 coin. It is one of the most treasured gold coins from the Umayyad dynasty, and dates from 723 AD. worth keeping hold of. Analysts agree. As Richard Being an outsider Hyman notes: “If you’re might help Sharon offering a superior White turn round experience and superior product range, consumers the partnership aren’t stupid, they know they Hong Kong offer for LSE are likely to have to pay a bit extra for that.” It is well documented that the retail industry is struggling with issues, including consumer uncertainty, high operating costs and changing customer behaviour. So, rather than playing with prices, first on White’s to-do list should be a under fierce City scrutiny review of John Lewis’s costly store portfolio. Waitrose, owned by SEBASTIAN MCCARTHY the partnership, has closed seven stores this year. However, the The second concern was whether and Deutsche Boerse in 2017 told City @SebMcCarthy the takeover would impact the gover- A.M. that he would “not be surprised department store chain has been less trigger-happy.