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TODAY'S OTHER NEWS

New woe for London market as property magazine shuts immediately

A long running property magazine delivered to homes in prime areas of London has shut down with immediate effect.

London Property had been in existence for some 20 years, initially as London Property News. 

In its heyday the monthly publication had several editions serving different areas of prime London; in recent years it was reduced to just one edition across the capital plus an online version.

Low levels of advertising led to the publication being earmarked for a phased closure some two years ago - contributors were given notice - but a last minute change of heart by the management appeared to give the publication a new lease of life.

Several agents contributed occasional columns and two freelance journalists were regular writers.

However earlier this week all those associated with the publication received an email saying: “It is with deepest sadness that I must inform you that the Company has ceased trading. Critchleys LLP have been formally instructed to place the Company into Creditors’ Voluntary Liquidation.”

This was one of few publications wholly religion property-related advertising but many newspapers, magazines and websites are reporting reduced advertising revenue this year - below even the lower levels of recent years.

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