Exchange is aimed at the thousands who cannot afford to buy but want to invest says The Sunday Times

Property Stock Exchange Set To Launch

The paper reported that Britain’s’ first ever regulated stock market for the property industry will get under way next month. The Property Investment Market (TPIM) has set up the exchange and is aimed at the tens of thousands of people in the country who can’t afford to buy property but still want to invest.

Network Rail fined £4m over disaster

The paper also said that Network Rail, the organisation set up to oversee the upkeep and maintenance of the UK’s rail services, was fined £4m for the “systematic and unacceptable” safety failures that led to the Paddington train crash in 1999 in which 31 people died.

£1bn call to fund bid for builder

Permisson is expected to raise up to £1bn in a rights issues to help fund a takeover bid for Taylor Woodrow if it decides to break up the planned merger with George Wimpey.

Property pair set to buy expo halls

The paper reported that two of London’s exhibition halls, Earls Court and Olympia, are expected to change hands again for the fourth time in eight years for around £400m. A private property company run by Elliott Bernerd and Sir Stuart Lipton are in talks to buy the two sites.

Berkeley in land deal with Saudi tycoon

The paper also said that Berkeley is expected to announce that it is forming a £500m joint venture with its biggest investor, Saudi Arabian based Saad Investments.

‘I merged myself out of a job’

Ian Smith

The paper interviewed Taylor Woodrow boss, Ian Smith, about what he will do after the tie up with Wimpey.

Surge in house sales to escape new rules

The Observer reported that the Home Information Packs which in June become mandatory for house sellers to pay for is causing people to rush to sell their homes. The National Association of Estate Agents said that it was expecting up to a 20% increase in the number of properties entering the market over the next eight weeks. Home Information Packs containing a certificate rating energy efficiency and local authority searches will cost £450.