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BBC considers extending lease at Birmingham’s Mailbox
Mailbox REIT said the BBC is likely to stay for up to another two years at the mixed-use Birmingham scheme when its lease expires in 2026.
Cavalry Barracks developer goes into administration
The development company planning to revitalise one of London’s largest remaining undeveloped brownfield sites, Cavalry Barracks near Heathrow, has gone into administration.
PureGym completes £805m refinancing in ‘huge vote of confidence’
The chief executive of the UK’s largest gym chain PureGym has heralded a “huge vote of confidence” in its expansion plans after its holding company Pinnacle Bidco completed a refinancing deal worth £805m.
The Buildings Mission Zero Network launches action report
The Buildings Mission Zero Network yesterday launched the first of two reports supporting the decarbonisation of the built environment and called for a national retrofit strategy.
John Lewis planning £150m sale and leaseback of Waitrose stores
John Lewis Partnership (JLP) is reportedly planning to sell a dozen of its Waitrose stores in a sale-and-leaseback scheme aiming to raise an estimated £150m.
Housebuilding jumps 75% in one quarter
The number of construction starts for new homes in the UK rose to 67,600 in Q2 2023, up by 75% from the previous quarter, with the Department for Levelling Up, Housing and Communities (DLUHC) attributing the spike to housebuilders avoiding cost of compliance with new green building standards introduced in ...
Cardiff film studio secures £39m for expansion
White Point Studios in Wales has secured £39m in funding to support its plans to become one of Europe’s leading TV and film production centres.
Former soft drinks site in Manchester set to top Savills auction at £6.5m
A former Princes soft drinks site on Manchester’s North Street is set to lead Savill’s upcoming October auction, with a guide price of £6.5m.
UKPA members approve BPF merger
The UK PropTech Association (UKPA) membership has approved its merger with The British Property Federation (BPF), following consultation with its members and the 75% approval threshold being reached.
London spy tunnels to be turned into tourist attraction in ambitious £220m plans
A mile-long network of secret tunnels 40m underground is set to become a unique tourist attraction under £220m proposals for an ambitious commercial development underneath London.
Home REIT sells a further 137 properties
Home REIT has raised £22.85m from the sale of 137 properties at auctions over the past eight days, but at a combined price almost two-thirds less than in paid for the assets.
Puma Property Finance signs Inspiring Diversity in Property pledge
Specialist development leader Puma Property Finance has become the latest firm to sign up to Property Week’s diversity, part of the Inspiring Diversity in Property Campaign, joining other signatories including Watts and Ademchic.
Tackling climate risks requires €8/sq m of annual capex reserve, AEW finds
AEW has calculated a single climate risk premium for the European real estate sector showing the cost of tackling climate change to be 19 basis points (bps) of the value of prime assets annually - or €8/sq m (£6.9/sq m).
DTZ Investors acquires Coventry Logistics Park for £140m
DTZ Investors has acquired Coventry Logistics Park for £140m. The property, comprising three logistics units, is fully let to DHL, Geodis and Viad with a WAULT of 11.81 years.
Inland Homes appoints administrators as rescue plan fails
Housebuilder Inland Homes has lost its fight for survival and has confirmed it will enter administration.
Meta lease exit divides opinion
Social media giant Meta’s payment this week of £149m to British Land to surrender the lease it had agreed for 1 Triton Square in London’s Regent’s Place has divided opinion on its potential impact on landlords.
