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NewsSpring Budget: UK avoids technical recession this year
The UK will not enter a recession this year, chancellor Jeremy Hunt has said in his Spring Budget as he announced the government’s main priorities will be on reducing inflation and debt and delivering long-term sustainable growth in the economy.
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Abstract gains consent for 140,000 sq ft Cambridge life sciences facility
Investor Abstract Securities has received detailed planning consent to build 140,000 sq ft of laboratory space in Cambridge with scope to increase the development by a further 40,000 sq ft.
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Developing 50% affordable housing on smaller sites could see delivery of 1.6 million homes
Proposals put forward by developer Pocket Living as part of the consultation on the National Planning Policy Framework (NPPF) have received major backing this week, after research from LDS Sales Guarantees found 1.6 million new homes could be delivered this way.
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Leftfield agrees £15.2m Banbury shed deal with motorsport’s Prodrive
Property investor Leftfield Advisors has acquired a 128,046 sq ft logistics unit in Banbury for £15.2m from motor racing engineering company Prodrive Motorsport.
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Logicor lets Swindon Keypoints 224 to Panther Logistics
Panther Logistics has signed a 10-year lease with Logicor at Keypoint 224 in Swindon.
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Abode Heat raises alarm over scale of home EPC retrofits needed
Renewable heat provider Abode Heat has reported that around 44% of homes may need to be retrofitted by landlords to meet Energy Performance Certificate (EPC) requirements by 2025.
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Hillingdon Council approves 90 homes on former London RAF site
Hillingdon Council’s planning committee has approved a 90-home development at the former RAF Uxbridge site.
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Levelling up ‘failed’ in Northern Ireland but regional opportunities remain, says Mipim panel
Levelling Up has “failed” in Northern Ireland, leaving the region two decades behind the rest of the UK, according to Belfast City Council chief executive John Walsh.
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IWG adds employee perks for workspace users
Flexible workspace provider IWG aims to broaden the range of services it offers as it expands from the provision of space to the provision of services, chief executive Mark Dixon told Property Week at Mipim in Cannes.
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Studies show London economy set to outperform global peers by 2030 while office sector in ‘state of flux’
London’s economic output is set to outperform its global peers, including New York, Paris, Berlin and Hong Kong, by 2030, according to a report by the London Property Alliance (LPA).
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Obayashi buys London’s 60 Gracechurch Street
Obayashi Properties UK, a subsidiary of Japanese construction group Obayashi Corporation, has bought 60 Gracechurch Street for around £160m from German investment and asset manager KGAL Investment Management.
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Consortium formed to masterplan Manchester life sciences and student accommodation quarter
McLaren Property, Property Alliance Group (Alliance), Moda Living and Kadans Science Partner have formed a partnership to create a masterplan featuring 700,000 sq ft of life sciences space and student accommodation with 1,840 beds for a project at Upper Brook Street in Ardwick, Manchester.
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Hampshire Trust Bank completes £7.5m exit deal for Manchester resi scheme
Hampshire Trust Bank (HTB) has provided a large North West developer and private rental company with a £7.5m loan to help it complete and sell a Manchester residential scheme.
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CMA probe into housebuilders threatens to disrupt industry
Regulator may propose competition test for housing sites or forced sales to level playing field for small developers.
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Q&A: Oblix Living founder on filling a niche in the BTR market
Chief executive Rishi Passi says being a newcomer to the sector adds challenges at an already difficult time.
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Historic Birmingham social club leads Bond Wolfe March auction
A former social club in south Birmingham will be one of the standout lots in Bond Wolfe’s 30 March auction, alongside a range of residential, commercial and investment properties.
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Midland student properties lead latest Savills auction
A student accommodation investment lot in Leicester comprising 15 six-bedroom houses is set to lead Savills’ next auction on 28 March.
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Developers given extension after 11 failed to sign Gove’s building safety contract
Housing secretary Michael Gove has warned developers that the govenment is ”coming” after them if they fail to sign its building safety contract.
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Atenor and AYR to regenerate west London bus garage site
Brussels-listed developer Atenor and joint-venture company AYR are joining forces to turn a bus garage near Notting Hill, West London into a residential-led, mixed-use scheme.
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Property and retail bodies call on government to stop town centre decline
Leading figures from the property and retail sectors are calling on central and local government to take action to address retail slowdown in town centres.
