Madeleine is finance editor at Property Week.
Life Science REIT set to benefit from record high take-up in the Golden Triangle
Life Science REIT said it would benefit heavily from its assets in the UK’s Golden Triangle, where take-up from life science firms hit a five-year high of 1.4m sq ft last year, as it reported robust full-year results for 2022.
Target Healthcare rebases dividend as interest rates increase
Target Healthcare is rebasing its target dividend to a “sustainable level” to reflect the higher interest rate environment, according to its half-year results for the six months to the end of 2022.
Sirius Real Estate appoints Bowman as CFO
Sirius Real Estate has appointed Chris Bowman as chief financial officer (CFO), effective from 29 August, following his departure as head of UK investment banking arm of Berenberg.
Inland Homes shares to be suspended
Trading in shares of housebuilder Inland Homes will be frozen on 3 April due to the company being unable to publish its audited results before the 31 March 2023 deadline.
Real estate set to churn but ‘remain net stable’ for 2023
Real estate is set to see some slowdown this year but will remain net stable with no change, according to real estate financial services firm Crestbridge.
Bruce joins MJ Gleeson board
Nicola Bruce has joined MJ Gleeson’s board as a non-executive director and will become the chair of the remuneration committee, as Elaine Bailey steps down as interim chair.
Bank of England raises rate to 4.25% amid ‘large and volatile’ market moves
The Bank of England has raised interest rates by 0.25 percentage points to 4.25% as it warned of “large and volatile moves in global financial markets” since the failure of Silicon Valley Bank and UBS’s purchase of Credit Suisse.
Interview with Sue Young: ‘There doesn’t need to be conflict between nature and housing’
Conservation charity The Wildlife Trusts is a staunch defender of the natural environment. Head of land use planning Sue Young tells Property Week how developers can incorporate nature into schemes.
UK commercial property returns outpace residential at 6.5%
Commercial property is providing stronger returns across the UK compared with the average return available via the residential sector, according to analysis by peer-to-peer real estate investment platform easyMoney, which targets private investors considering putting their money into property.
Harworth targets BTR and industrial space after reporting leap in NAV
Land regeneration specialist Harworth Group cited the build-to-rent (BTR) space as a key focus for the year ahead as it revealed a rise in net asset value to the year to 31 December, despite a sharp fall in investor returns and profit.
Former Persimmon CEO Fairburn registers new business
Jeff Fairburn, former chief executive of housebuilder Persimmon, has registered a new business called Third Stone Investments.
UK’s single family housing sector set for £8bn of capital
The UK’s single family housing market is growing rapidly, with more deals completed in Q1 this year than in the whole of 2022 and £8bn of capital heading to the sector in the next three to five years, according to Knight Frank.
February sees ‘unseasonable rise’ in average rent price
The average London rent rose 5% to over £570 per week in February from the previous month, exceeding the highs of the peak lettings season last summer, according to Foxtons.
Stage Fifty gains planning permission for film studio in High Wycombe
Film and television studio developer Stage Fifty has received full planning permission from Buckinghamshire Council to create an eight-stage film studio in High Wycombe.
Grosvenor to double global indirect property investment portfolio
Grosvenor is set to double the size of its indirect real estate investment business, Grosvenor Diversified Property Investments (GDPI), to around £1.5bn in equity over the next five years.
Capital & Regional sells The Mall, Luton for £58m
REIT Capital & Regional, which owns retail and leisure properties and specialises in community shopping centres, has sold The Mall, Luton to SDI (Luton) and SDI (Luton 2) for £58m.
Revenue leaps 30% at Empiric Student Property
Empiric Student Property, the owner and operator of premium, studio-led student accommodation across the UK, has reported a revenue increase of 30% to £73m for the year ended 31 December 2022.
Countryside Partnerships buys Coventry resi development site from Henry Boot
Henry Boot’s land promotion and planning business, Hallam Land Management (HLM), has sold a development site in Eastern Green, Coventry, to mixed-tenure developer Countryside Partnerships for an undisclosed price.
Spring Budget: Failure to cut business rates is ‘desperately disappointing’
Chancellor Jeremy Hunt’s Spring Budget detailed plans to halve inflation, grow the economy and get debt falling, but industry figures were disappointed by its failure to cut business rates.
Post-Covid house price rises tipped to be wiped out in 2023
A nominal price decline of up to 7% is expected for residential property in 2023, wiping out most of post-Covid-19 rise in values, according to Fitch Ratings’ report ‘Credit Perspectives on the UK Housing Market: Solid Foundations or Cracks Emerging?’