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Property Week digital edition - 3 February 2023

2023-02-03T00:00:00+00:00

New register requires UK investors to be more vigilant on overseas vendors; Assael Architecture’s Katie Cairns on how housing developers can help meet government’s net zero target;  Supreme Court ruling in landmark Blacks service charge case offers hope for both landlords and tenants

All the content from the latest issue of Property Week

UNCLE Leeds Phase 2_2

HUB and Bridges agree £108m deal to forward fund 500-home Leeds scheme

Developer HUB and impact investor Bridges Fund Management have signed a £108m forward-funding deal with Realstar to deliver 488 build-to-rent (BTR) homes in Leeds, renewing a partnership between the firms.

Sarah Kouter

Construction PR’s Sarah Kauter on sustainable construction trends to look out for

Ensuring your business is doing everything in its power to stay ahead of the latest industry trends has always been essential to success, and with the challenges faced by the industry throughout 2022 – including the cost-of-living crisis, extravagant energy costs and material shortages – this has never proved truer.

Reef Group, Tribeca, London

BA and GIC join forces with BlackRock on major King’s Cross Tribeca development

BlackRock Alternatives Real Estate has joined forces with British Airways’ pension scheme and Singaporean fund GIC to develop a major life sciences development, Tribeca King’s Cross.

1873084__127436738_britishvolt_73180

New hope for UK gigafactory as Britishvolt set to be bought by Australian firm

An Australian firm has been named as the preferred bidder for car battery manufacturer Britishvolt, potentially rescuing its plans for a £3.8bn UK ‘gigafactory’ after it went into administration last month.

Tribe Oldd Kent Road FINAL

Paragon pledges £30m for Southwark PBSA scheme

Paragon Bank has provided a £29.6m financing package to support the development of a 267-bed purpose built student accommodation (PBSA) scheme in Southwark, south London.

Eldon Way Trading Estate

Telereal Trillium pays £33.32m for five industrial estates

Telereal Trillium has snapped up five industrial estates covering 386,000 sq ft for a total of £33.32m.

Office London

Lack of assets and selective buyers ‘cushion’ pricing of London core offices

A lack of best-in-class assets and increasingly selective buyers are likely to cushion the pricing of London core offices from downward pressures, according to Savills.

Kilmuir House

Native Land wins appeal against Westminster City Council

Native Land has scored a rare planning appeal victory against Westminster City Council, overturning the planning committee’s earlier decision to refuse its residential development plans in the prestigious Belgravia area on the basis of insufficient affordable housing provision.

JD Sports

JD Sports to open 1,750 new stores in £3bn growth plans

UK-based JD Sports is to spend around £3bn opening up to 1,750 new stores over the next five years, the firm’s new chief executive Régis Schultz has announced.

Construction drone

Uncertain 2023 picture for construction sector, says Gleeds

The picture for the construction industry in the year ahead isn’t much clearer than last year, with many of the challenges faced in 2022 continuing, said property and construction consultant Gleeds.

Hubflow targets global expansion after successful London rollout 02

Serviced office provider Hubflow sets sight on 100 new London locations

A flexible workspace start-up from Belfast is launching a rapid expansion of its office network with a five-year plan to open 100 new locations in London.

London

Recruitment and climate change shaping London office market, says Carter Jonas

Demand for London office accommodation will be shaped by increasing recruitment and urgency in moving to buildings compliant with new climate change regulations, according to Carter Jonas.

Cladding

DLUHC consults on cladding cost recovery proposals to protect leaseholders

The Department of Levelling Up, Housing and Communities (DLUHC) has launched a consultation seeking views on proposals that would force landlords to try all other avenues of cost recovery before going after leaseholders for cladding remediation work.

Office

Bond Wolfe annual sales breach £200m mark

Property auctioneer and agent Bond Wolfe delivered record annual revenue of £210m in 2022, up a fifth from the previous year.

Elderly care home

Mason-owned care homes to get upgrade following £20m bond launch

Special purpose vehicle RCB Bonds has launched a retail bond to raise £20m for the upgrade of care homes owned by the Royal Masonic Benevolent Institution Care Company (RMBI Care Co).

Anchor's Orchard Gardens retirement housing scheme

Anchor launches plan for 5,700 later living homes in 10 years

Not-for-profit later living provider Anchor,is tendering for consultancy partners to support its plans to build 5,700 homes over the next 10 years.

Back mould shutterstock_1005702670 Andrey_Popov

Regulator of Social Housing publishes findings on mould in homes

The Regulator of Social Housing (RSH) yesterday published its initial findings on damp and mould conditions in England’s social houses, stating that while less than 5% of social homes have damp and mould conditions, landlords could do more to address the problem.

Nigel Almond

​Prime rental growth accelerates across Europe

Prime rental growth across Europe has accelerated as demand for the best-in-class space holds firm, according to Cushman & Wakefield’s latest DNA of Real Estate research report.

City Tower, Manchester

NAV dips at Schroder Real Estate Investment Trust

Actively managed UK-focused REIT Schroder Real Estate Investment Trust (SREIT) has reported a fall in net asset value (NAV) for the fourth quarter of 2022.

Canary Wharf life sciences

The circle of life sciences

This week I learned a new word, although I’m not sure it’s a real one that has made it into any dictionaries. ‘Cycology’ is the belief that events will run in predictable cycles, with the implied hope that you can make better decisions if you can see where you are ...

_PNNL Graphic final

PassiveLogic’s Troy Harvey says intelligent buildings are key to the green revolution

In the latest episode of BossCast, Troy Harvey, CEO of software firm PassiveLogic discusses how building automation can help the architectural and construction industries design and engineer next-generation buildings.

Houses

Rental voids up despite tenant salaries rising higher than rents

January saw a notable increase in void periods across England, despite ongoing demand for rental properties keeping prices buoyant, according to the latest Rental Index from Goodlord.

St Leonards on Sea

Housing balance key to levelling up coastal areas

A balancing act between visitors and local communities is needed to reduce pressure on housing stock in coastal areas and help the levelling-up agenda, according to a report by the Coastal Communities Alliance.

Contract signing_shutterstock_694253248_cred Amnaj Khetsamtip PW030519

Vigilance urged over overseas entities deals

Risk for UK parties buying property from overseas entities as register closes

n2

Trio of deals take Landsec’s n2 development to two thirds pre-let

Landsec has pre-let a further six floors, totalling around 60,000 sq ft, at its n2 development in Victoria, London, taking the building to 66% pre-let.

edennorth_15493

Levelling-up funding flawed but agenda is here to stay

Experts say government needs a more ‘strategic approach’ to how the fund can make the biggest difference.

210628_View along Queen's Walk at National Theatre_Credit Make Architects

Public inquiry into redevelopment of South Bank studios now closed

The public inquiry into the redevelopment of ITV’s former South Bank studios has closed, with community organisations telling the Inspector that a “once-in-a-lifetime opportunity” to create housing in the area will be missed if planning permission is granted for CO-RE and Mitsubishi Estates’ office-led scheme.

Agent P

Agent P: Buy and sell

Friday 3 February, Adriatic Room, 9am: Posh Girl complains of unwanted attention in a ‘Spoons during a showing of a sticky-floored former bank.

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