There is a new man at the helm at Landsec. Mark Allan took up the post of chief executive of the REIT on 14 April, two weeks ahead of his pre-Covid start date of 30 April. Since taking up the new position (at the same home desk), Allan has no doubt been getting to know his new colleagues virtually through many a Teams, Zoom or Skype video call. But how much can you really get to know someone virtually? We at EG know Allan is a good sport. A leader who is not afraid to be human. And who has had the lockdown attire dialled in for some time. How do we know this? The power of the EG archive. In these times where we all need a little cheer in our life, Diary knows (or is hopeful), Landsec’s new leader won’t mind us sharing a little slice of Allan history. A time when student housing was an emerging asset class, the EG team and Allan (then CEO of Unite) concocted a plan to get some of the biggest names in property to be students for the night. And let us film it – watch it for yourself below. Sorry Mark.
A marathon challenge
Last weekend should have been the London Marathon. Ordinarily, Diary is flooded with press releases about property prices along the route. For almost as long as the marathon has been running and EG’s Diary page has been in existence, we have run a story showing the latest rental map of the route. But this year no one gets Diary’s (entirely non-existent) prize for the best London Marathon cost of property map. Diary knows many would-be marathon runners will have been doing their bit running around their gardens or up and down their balconies. Which agent is going to provide us the most pounded (and most £ worthy) lockdown-at-home athletics spots along the route? A spot on Diary is up for grabs.
When Fuzzy Duck does
One of Diary’s lockdown wishes came true this week. When we first entered lockdown there was a flurry of activity on Twitter. We started sharing our furry helpers in our home offices like it was only going to last a couple of weeks. We even dedicated this page to some of them. EG editor Samantha McClary got excited when Better Buildings Partnership chief executive Sarah Ratcliffe said she would try to coax her ducks inside for a #propertypets picture. But they weren’t having any of it. Until last week, when after a long day hosting EG’s Sustainability Live event (watch it here), ping! up pops a tweet from Sarah, with not one but three feathered friends. Fuzzy Duck, does he…
Learning a new language
Covid-19 has introduced us to a whole new vocabulary. “Furlough” and “I think you are on mute” are now everyday words and phrases. But others are spiking too. Some, Diary is pleased to say, are the result of real estate’s determination to contribute during the crisis. “Hunting the good” is one. “That’s what we all need to do in the current situation,” tweeted Fiona Fletcher Smith, group director of development and sales at L&Q Group. “Look for the good.” As long as no one acts on the interpretation by the acerbic John Forbes, who responded: ‘“Hunting the good” sounds worryingly like we then intend to shoot it.’
Through the keyhole
EG had a peek inside Phil Spencer’s gaff this week. Our own little episode of Location, Location, Location. Or rather, what we actually played was Love It or List It. Turns out that Phil off the telly is quite a fan of Sellar’s Shard at London Bridge, calling it the stately home of offices. The Bullring in Birmingham gets a measured response and he abstains from giving an opinion on the Walkie Talkie – Diary bets Kirstie would have a thing or two to say about it. Any guesses as to which property Phil would love to pop in his portfolio? Listen to the EG Property Podcast to find out.
Billionaires seeking help
Beyond EG, Diary especially enjoyed two stories this week. Head-turning #Covid19 loan story of the week involves Richard Branson, whose Virgin businesses have been heavily affected. The billionaire has told staff he will use his Necker Island bolthole to raise cash. “To use an island to go to a third party to raise money, I haven’t seen that,” Farhad Vladi, who rents and sells private islands, tells Bloomberg. He estimates Necker was worth more than $100m before a hurricane hit in 2017. Meanwhile, the New York Times reports “President Trump’s signature hotel in the nation’s capital wants a break on the terms of its lease”. The Trump Organization owns and operates the Trump International Hotel but the building is owned by the government. Eric Trump, the president’s son, is asking for the same rent relief granted to other tenants. Diary is passing on both of these stories without comment and reserving sympathy for others.
