Bridget OConnell

The value of Shop Direct’s bonds plunged yesterday after the debt market took a dim view of a £25m “dividend payment” to the online retailer’s billionaire owners, the Barclay brothers.

Portfolio already divided between London’s Covent Garden and Earls Court

Round-up of today’s top property stories with quick links to the nationals.

UK government admits £400m to replace flammable cladding will be taken from Affordable Homes Programme.

Activity on the high street is picking up after the cold snap at the start of the year deterred shoppers, according to the CBI.

Bovis was accused by a shareholder advisory group of “tinkering” with finance chief’s pay packet to award him a larger bonus without explaining its calculations to shareholders.

Prices in London fell by 0.7% for the year to March after a revised 0.1% decline in February.

Topshop took a £12.6m hit in the year, thanks to an impairment on a fixed asset and provisions for onerous leases.

Management warns bill for shutting 100 retail locations could top £470m.

Building society’s profits fall amid tough competition and tightening of buy-to-let loans.

Average deposit for a property in the capital climbs 62% in five years.