All Property Week articles in 15 December 2023 – Page 5
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NewsProperty Week Digital Edition – 15 December 2023
In a year when property was battered by the economic headwinds of high interest rates and inflation, we take a look back at how the resi, office, I&L and retail sectors weathered the storm, and the key financial and legal trends that affected the industry
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NewsM&G agrees JV with Nomura on £200m West End office scheme
M&G Real Estate and Nomura Real Estate Development (NRED) have agreed a joint venture on The Fitzrovia, a £200m office-led scheme on Tottenham Court Road in London’s West End.
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InsightA year in review: Timeline
In a year when property was battered by the economic headwinds of high interest rates and inflation, we take a look back at how the resi, office, I&L and retail sectors weathered the storm, and the key financial and legal trends that affected the industry.
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InsightA year in review: I&L
The sector was buffeted by macroeconomic headwinds, with a fall in occupier demand for space, but Tata’s gigafactory plans boosted the UK’s EV battery hopes.
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NewsBoE’s decision to maintain rate signals ‘peak of turmoil has passed’
The Bank of England has held the interest rate for the third time in a row at 5.25%, a 15-year high, which experts say should spell good news for the property market as it signals more stability and less market uncertainty.
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NewsWorkspace agrees deal to power office portfolio with Devon sunshine
Workspace Group has agreed a substantial energy deal with Statkraft to power the majority of the landlord’s offices with solar energy from Devon.
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NewsBirmingham council looks to £2.4bn property portfolio as first cuts announced
Birmingham City Council has approved a new property committee, which will be tasked with selling off assets, as the local authority looks to its £2.4bn property portfolio to bridge a large budget deficit.
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NewsMore local plan interventions likely as DLUHC raps Erewash
Planning experts have warned that more local authorities (LAs) are likely to be pulled up on redrafting already delayed local plans in the run-up to a general election, after the Department for Levelling Up, Housing and Communities (DLUHC) threatened intervention at Erewash Borough Council.
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NewsFormer Greystar exec Adam Tutka joins Thriving Investments
Former Greystar executive Adam Tutka has joined Thriving Investments, formerly known as PfP Capital, in the newly created role of director of capital markets, based in London.
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NewsKing’s Cross Central chief Robert Evans to leave Argent after 23 years
Robert Evans, partner at Argent and Related Argent and a key figure in the regeneration of King’s Cross Central, is set to leave after 23 years at the company.
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NewsHilltop completes £16.1m loan for new-build resi development in Leicester
Hilltop Credit Partners, a residential-focused real estate investment manager, has completed a £16.1m loan to Mitchian Group for the development of 122 private residential units and a small commercial unit in central Leicester.
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OnlineValor secures £64m loan for east London logistics development
Valor Real Estate Partners has secured a £64m debt facility with BGO for the development of a last mile logistics estate in Beckton, east London.
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NewsCBRE predicts €176bn debt funding gap in Europe between 2024-2027
CBRE has published research estimating a total of €640bn (£551bn) in private real estate debt was originated across Europe between 2019 and 2022, and 27.5% (€176bn) of this may not be refinanced when the debt matures over the next four years.
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OnlineMoorfield agrees £15.6m loan from Investec for Lincoln student scheme
Investec Real Estate has provided Moorfield Group with a £15.6m loan to fund the development of a 293-bed purpose-built student accommodation (PBSA) campus in Lincoln.
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InsightA year in review: Retail
It was a mixed picture for retail, with Wilko’s collapse and a record rent set on Bond Street, while a rates discount extension offered hope for small firms only.
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News2023 in review: words from the wise
It’s that time of year when thoughts turn to the months gone by. Rather than attempt to come up with my own sage observations, I have instead purloined the thoughts of the industry’s finest, all of whom were interviewed by Property Week over the past year.
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InsightA year in review: Residential
While it was a challenging year for housing, with housebuilders’ profits falling and the rental sector beset by government U-turns, later living got its own taskforce and PBSA performed well.
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InsightA year in review: Offices
A huge drop in investment, along with value write-downs and subdued demand from occupiers, has taken a toll on the office sector this year.
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InsightA year in review: Net zero
The government’s U-turn on a number of policies to tackle climate change was a major blow to property industry efforts to decarbonise the built environment.
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InsightA year in review: Legal
The government passed major building safety, regeneration and planning laws in 2023, but delays and a lack of clarity on legislation frustrated the property industry.
