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Property Week Digital Edition – 26 May 2023


Bricks Group founder Pete Prickett on why a drive to offer students a fuller university experience sets his PBSA brand ‘true’ apart from the competition – Ahead of speaking at PW ‘s Later Living conference, Professor Les Mayhew discusses proposals in his influential report into housing for older people

All the content from the latest issue of Property Week


Failed real estate investments leave Woking facing £1.9bn debt as government steps in

The government has stepped in to oversee Woking Borough Council (WBC) with the authority facing £1.9bn debt following a series of failed real estate investments.

Canary Wharf life sciences

Chancellor unveils £650m ‘war chest’ for life sciences sector

Chancellor Jeremy Hunt announced a £650m “war chest” alongside a promise to fire up the UK’s life sciences sector by shaking up planning rules and encouraging investment.

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UK Biobank to develop new HQ at Manchester Science Park

UK Biobank is set to move to Bruntwood SciTech’s Manchester Science Park after receiving £127.6m research funding for the development of a new headquarters at the site.

Michael Morris Sitting 2023 email jpg

Picton Property outperforms MSCI UK Quarterly Property Index despite annual loss

Picton Property Income has reported an outperforming property portfolio relative to MSCI UK Quarterly Property Index for the year ended 31 March 2023, despite making a pre-tax loss of £89.5m, compared to a £147m profit for the year prior.


UK Commercial Property REIT sells Wembley logistics asset for £74m

UK Commercial Property REIT (UKCM) has sold its 186,455 sq ft Wembley180 logistics asset in north London to registered charitable company Covent Garden IP for £74m, reflecting a net initial yield of 3.49%.

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Property Week Digital Edition – 26 May 2023

Bricks Group founder Pete Prickett on why a drive to offer students a fuller university experience sets his PBSA brand ‘true’ apart from the competition – Ahead of speaking at PW ‘s Later Living conference, Professor Les Mayhew discusses proposals in his influential report into housing for older people

Artificial intelligence (AI) robots

Thinking beyond the box

A few years ago, the mainstream media became transfixed by the prospect of self-driving cars, when it seemed as if either Tesla or Google spin-off Waymo might imminently bring such a thing to market.

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Quintain and FORE Partnership sign up to new Healthy Homes Checklist

Ekkist, wellbeing consultancy for the built environment, has launched a new Healthy Homes Checklist, with developers Quintain and FORE Partnership among the first to sign up.

Big Yellow Self Storage

Self-storage sector set for record year as revenue hits £1bn

Revenue in the self-storage industry is set to exceed £1bn for the first time in 2023 as the sector continues to grow following a boom at the start of the Covid-19 pandemic, according to a report by Cushman & Wakefield and the Self Storage Association UK.

PW260523_posh home_shutterstock_1615476433_cred Neil Lang

Prime central London housing shines amid economic gloom

While the wider market outlook is uncertain, overseas buyers are driving a boom in high-end London housing.

Housing rent

Government support needed to boost BTR delivery

Editor: Four years since then prime minister Theresa May first promised “a better deal for renters” ahead of 2019’s general election, three PMs and a global pandemic later, the government introduced the long-anticipated Renters’ Reform Bill last week.

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Material steps for tackling inflation

Editor: Disruption to the construction sector caused by the volatility of material price inflation shows no signs of abating, with recent analysis of Office for National Statistics data showing inflation added £23bn to the cost of the sector’s output compared with pre-pandemic levels.

tom goodall

Argent to combine with Related Argent as new leadership unveiled

Argent is set to transfer its employees, projects and assets to Related Argent on 1 May 2024 and operate solely under that name, with Tom Goodall, currently partner and head of residential for Related Argent, set to lead the combined business from that date.

Finance generic

LondonMetric positions portfolio for further income growth amid market structural shifts

LondonMetric has reported an increase of 10.3% to £146.8m for its net rental income growth for its financial results for the full year ended 31 March 2023.

Cladding being removed from the side of an apartment block

Questions remain over who should foot remediation bill

Despite a political push to make developers pay, liability for cladding repair costs remains unclear in many cases.

HSBC Tower

This week in… 2018

Spanish property firm Metrovacesa, which had bought the HSBC Tower in London’s Canary Wharf for £1.09bn in 2007, struggled to refinance the loan HSBC underwrote to finance the deal.


Solving the later-living housing crisis

Ahead of speaking at next month’s Later Living conference, Professor Les Mayhew tells Property Week how proposals in his report last year could transform the retirement housing sector.

Agent P written in calculator style white text on a red background. A cartoon man in a black suit and red tie is stood on the right of image. He has no facial features but is wearing sunglasses

Agent P: ChatGPT

Friday 26 May, Titanic Room, 4.30pm: A day with GBH team leaders discussing how many grunts we can chop by replacing them with artificial intelligence.

Jonathan Corris

Q&A: Five minutes with Jonathan Corris, partner at Devonshires

Jonathan Corris, partner at law firm Devonshires, on how he got started in the property industry, his top TV and music recommendations, his best and worst purchases and the superpower he wishes he had


As short-term lets become more commonplace, the law must adapt

In an increasingly tight rental market – partly driven by the government’s reduction of tax deductions for landlords and even more by the threatened abolition of what are pejoratively referred to as ‘no-fault evictions’ but are simply the right to possession at the end of a tenancy – short-term lettings ...

Construction cranes_shutterstock_credit Oleg Totskyi_PW270418

Labour Party manifesto gives some hope to property sector

Draft manifesto shows party is focused on housing, planning and the green belt ahead of general election

Sam Mitchell

Q&A: Strike’s Mitchell on plans to build big with Purplebricks

Chief executive Sam Mitchell discusses what its deal to buy the online estate agent means for both companies.

PW260523_new homes_shutterstock_1490829743_cred Drone Motion Stock

Soho Estates' Steve Norris on the housing political battleground

I make no apology for returning to the residential market this week because what both major political parties are saying is now significantly different.

Pete Prickett

Dream come true for student sector: interview with Bricks Group founder Pete Prickett

When Bricks Group founder Pete Prickett turned his focus from hotels to student accommodation, he knew his student brand ‘true’ could offer an often poorly served market something different.

The Cup Winners - Colliers

Colliers wins the cup

Arcadis was pipped to the post by Colliers in the Property Week Cup final, with the real estate firm picking up its first trophy since 2018.

Professor Les Mayhew

Mayhew calls for EPC-style grading system for later-living accommodation

The academic behind an industry-backed review into older people’s housing is calling for the introduction of an Energy Performance Certificate-style grading system for later-living accommodation.

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