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Property Week Digital Edition – 20 May 2022

2022-05-20T00:00:00+01:00

Coverage of the PW RESI Awards 2022 gives a run down of the housing sector stars this year – Crate to Plate’s plans to roll out more vertical farms on urban sites could be the start of a revolution in the way food is grown and distributed – Queen’s Speech ...

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West End footfall sees Shaftesbury ‘bounce back’ to profit amid merger talks

Shaftesbury’s West End portfolio has “continued bouncing back” in the first half of the fiscal year after overturning a £338m loss last year to post post-tax profit of £247.6m.

Warehouse REIT drives up portfolio values

Warehouse REIT has reported a 19.4% like-for-like valuation uplift of its portfolio to £1.01bn, up from £792.8m last year.

Helical completes sale of Manchester’s Trinity building

Helical has sold the Trinity office building in Manchester to clients of Mayfair Capital for £34.55m, reflecting a yield of 5%.

Harrison Street JV to develop third UK PBSA scheme in Nottingham

Investment management firm, Harrison Street, is to develop a 297-bed, five-storey purpose-built student accommodation scheme in Nottingham, in a joint venture with Torsion Developments.

Oxenwood fund secures £63m development injection from Blackstone

Oxenwood Logistics Fund 1 SLP (Oxenwood) has secured £63m in development funding from Blackstone Real Estate Debt Strategies.

CBRE IM acquires Birmingham’s 125 Colmore Row for client

CBRE Investment Management (CBRE IM) has acquired 125 Colmore Row, a 150,000 sq ft prime office building in Birmingham city centre on behalf of West Midlands Pension Fund.

Clearbell trust finalises £150m programme with Kings Cross acquisition

Clearbell UK Strategic Trust (CST) has announced that it is now fully invested, after 6-24 Britannia Street, Kings Cross, a commercial art gallery and office building, was acquired for £13.5m.

Assura grows rent roll by 12%

Healthcare landlord Assura has increased its passing rent roll by 12% to £135.7m in the year end to 31 March 2022

AREA announces appointments on first anniversary

Alternative Real Estate Advisors (AREA) has made a number of appointments on the first anniversary of its establishment, including Sam Bolton, who joins from JLL as an associate director.

Bond Wolfe heads looks ahead to ballroom return after bumper May sale

Bond Wolfe is to return to the auction room after a two and a half year hiatus for it’s 21 July auction.

Platform Housing secures £235m green loan

The Midlands’ largest housing association Platform Housing has secured a £235m sustainability-linked loan from Lloyds Bank to help develop affordable housing.

Cole Waterhouse JV acquires Leeds site for over 1,000 apartments

A 3.8-acre brownfield site in the east of Leeds city centre has been purchased in a joint venture between Cole Waterhouse and Tonia Investments.

Topland ready to deploy £200m following deals

Topland Group has announced that it is prepared to deploy £200m of investment into multiple sectors by the end of 2022 following two deals in Tewkesbury and Aberdeen.

Grosvenor back to profit in 2021

UK property giant Grosvenor has recorded a strong showing for the 12 months ending 31 December, driven by the public’s return to offices and shops.

IPUT appoints new head of research

IPUT Real Estate has appointed Marie Hunt as its new head of research, with a focus on placemaking, sustainability and the future of the workplace.

Later living space cost will hit £30bn by 2025, says JLL

Rising costs and an ageing population will result in a bill of £30bn by 2025, according to research from JLL pointing to the growing demand in later living accommodation for the baby boomer generation.

Brendan Geraghty appointed UKAA chief executive

The UK Apartment Association (UKAA) has appointed Brendan Geraghty as its new chief executive, following the retirement of Dave Butler.

Pick Everard appoints new healthcare director

Claire Lowe has been appointed as Pick Everard’s healthcare director, having previously worked as a sub-contractor for the company for 18 months.

H&M opens 17,000 sq ft Glasgow store

H&M has opened a store at Braehead near Glasgow, owned by SGS and asset managed by Global Mutual Properties.

Crane survey shows ESG front of mind as London office upgrades dominate

Just over 86% of new construction schemes on London offices launched in the last six months were refurbishment projects, according to Deloitte’s latest London Office Crane survey.

Serious supply shortage threatening London office market, says GPE boss

GPE’s Toby Courtauld has revealed that the “serious supply shortage” in the London office market could present an opportunity for commercial developers.

TfL seeks JV partner for trio of mixed-use station developments

Transport for London is on the hunt for a joint venture partner after revealing plans to bring forward three mixed-use developments at London transport hubs, creating a total of just under 600,000 sq ft of office and retail space.

Government urged to commit £2.3bn annually to retrofitting homes

A new report by housing chiefs has called on the government to commit £2.3bn a year to raising the energy-efficiency standards of 2.3 million poor households across England over the next decade.

Clarion gets planning for Eastfields regeneration scheme

Clarion Housing Group has received planning approval for detailed plans at its Eastfields regeneration project in Merton, south London.

Argyll hires Philip Symonds as investment director

London office provider Argyll has appointed Philip Symonds as investment director to focus on expanding the firm’s position within the prime London flexible space market.

Cheyne Capital lends £187m to LaSalle for Wembley mixed-use acquisition

Cheyne Capital Management has provided an £187m loan to LaSalle Investment Management to finance the acquisition and construction of a mixed-use scheme in Wembley, London.

My British Landsec dream fades

It’s that time of year again, when we get to compare two of the UK’s largest REITs that I have often said should consider merging to form a real powerhouse.

What’s to come for property this year?

Last month, leading figures in the UK property industry gathered for a dinner to discuss the challenges and opportunities in the year ahead.

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