All News articles – Page 41
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McLaren Living and AEW plan Reading Broad Street Mall redevelopment
Build-to-rent developer McLaren Living and real estate investment manager AEW have partnered to redevelop Broad Street Mall and bring forward a new mixed-use neighbourhood in Reading town centre.
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Newcore Capital acquires £11m of social infrastructure assets
UK-focused real estate investment manager Newcore Capital has acquired two language schools, in Cambridge and Oxford, and a food distribution asset in Colchester for a total of around £11m, reflecting a net initial yield of 6.1%.
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Sourced Group launches new lettings franchise
Consultancy firm Sourced Group has launched a new lettings division, Sourced Living, which will offer flexible lettings to help boost occupancy.
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Government data shows fire safety issues with over half of Rydon’s English resi buildings
More than half of buildings developed by Rydon Group, the residential developer responsible for the construction of Grenfell Tower, have been identified as having fire safety issues, according to government figures.
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Cash-strapped Birmingham City Council to auction off property
Cash-strapped Birmingham City Council is to sell 29 disused properties and commercial ground leases at a Bond Wolfe auction next month.
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EU faces £400m bill for empty London office after WeWork troubles
The European Union faces a potential bill of £400m for an empty London office it vacated in 2016 in the wake of Brexit and sub-let to WeWork, following the flexible workspace giant’s bankruptcy in the US.
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Plans in for £2bn West Town Edinburgh neighbourhood with 7,000 homes
Plans have been lodged for a giant £2bn new neighbourhood, which could see 7,000 new homes built alongside commercial and community assets in Edinburgh.
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Savills on track in year-end trading update
Savills said it expects its full-year performance for 2023 to fall in line with the expected range of outcomes, despite a challenging year for the real estate market.
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NFU Mutual acquires prime Birmingham office from Ardstone
NFU Mutual has acquired 1 Newhall Street in Birmingham from the Ardstone Regional Office Fund for an undisclosed price.
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Taylor Wimpey prioritises prices amid challenging market environment
Taylor Wimpey’s overall average selling prices rose 3.5% to £324,000 in 2023, but the housebuilder ended the year with a lower order-book value of £1.77m, excluding joint ventures, compared with £1.94m in 2022.
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Hightown secures £50m in funding from Aviva
Aviva Investors has provided £50m of funding to Hightown Housing Association, which owns and manages more than 8,700 homes and care and supported housing projects across Hertfordshire, Buckinghamshire, and Berkshire.
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Clarion raises £427m for UK logistic fund
Fund manager Clarion Partners Europe has exceeded the fund raising target for its closed-end UK logistics fund by securing £427m in investment.
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LondonMetric to take over LXi in £1.9bn deal
LondonMetric has agreed a £1.9bn takeover of Nick Leslau’s LXi REIT, in a deal that will create the UK’s fourth largest REIT with net tangible assets of £4.1bn.
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Peabody appoints new chair following death of Lord Kerslake
Housing association Peabody Group has appointed Caroline Corby as chair following the death of former chair Lord Kerslake last year.
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Revised NPPF is ‘weak all the way through’, experts say
Experts say the long-awaited response fails to include any details relating to a small-sites policy, nor does it address the diversity of housing the country requires.
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Energy secretary flags up MEES review as uncertainty on timelines continues
The government has said it plans to review the policy and timelines of the Minimum Energy Efficiency Standards (MEES), as it confirmed the rules would still apply to non-domestic properties.
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Tri7 in £10m swoop for Southampton shopping centre
Real estate investment and asset management firm Tri7 has acquired the Portswood Shopping Centre in Southampton for around £10m from a private investor.
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Meta to close One Rathbone Square HQ
Facebook parent company Meta is leaving its London headquarters at One Rathbone Square in a dramatic reduction of its UK office footprint.
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‘Economic risks’ cause Sainsbury’s and FEC to drop 950-home east London scheme
Sainsbury’s has abandoned plans to redevelop a supermarket in Whitechapel, east London, where it also intended to build almost 1,000 homes and a hotel.
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CBRE warns up to 11.9m sq ft of inefficient office space is set to hit London market
A wave of energy-inefficient office stock is set to hit the London market, with up to 11.9m sq ft of space with an Energy Performance Certificate (EPC) of ’C’ due to be released by 2027, according to research from CBRE UK.