Here’s a wrap-up of some of the most popular stories on EG from the past week.
Nearly half of office landlords are struggling with operational costs caused by high inflation, according to a survey delving into the financial woes weighing on their minds. A survey commissioned by workspace provider infinitSpace found that 48% of office owners are finding operational costs at their properties difficult to manage, with more than one in seven landlords fearing their buildings are at risk of closing in the next five years.
Nearly half of office owners struggle with soaring costs
Legal & General Investment Management has appointed Cushman & Wakefield to market two London Premier Inn hotels for £45.8m, one at Stansted Airport, the other in Tottenham Hale.
LGIM appoints agent to sell pair of Premier Inn hotels
The Social Hub is looking to invest £250m in the UK and is hunting for obsolete offices to redevelop. The Netherlands-headquartered company’s schemes combine purpose-built student accommodation, hotels and co-working uses. It has one UK scheme in Glasgow and Charlie MacGregor, founder and chief executive, told EG the company wants to add at least four more.
The Social Hub to spend £250m on distressed office deals
Liverpool Waters’ Princes Dock neighbourhood is set to become home to the UK’s first public floating sauna. The project, which is being delivered by Peel Waters in partnership with Wyld, will consist of a pontoon containing a 30-person sauna, two ice baths, two cold waterfall showers, four heated outdoor showers with salt rub, outdoor seating, changing rooms and direct access to jump straight into the water from the sauna.
Full steam ahead for UK’s first public floating sauna
JMPK has received permission from the City of London Corporation for a change of use across the upper floors of 56 Long Lane, EC1, from offices to holiday lets. The owner applied for the redevelopment after agents told the company that if the building continues to be marketed as offices, “you may struggle to secure a viewing, never mind a letting or lettings”.
Out of office: London landlord to turn woeful workplace into holiday lets
Other stories you mustn’t miss:
EG Awards 2024: This year’s shortlist revealed
EG’s LGBTQ+ in Real Estate survey: the results
Midlands dealmakers release the handbrake
Kadans seeks director to put UK portfolio ‘on the map’
Parties pitch on planning, homes and sustainability
South East office-to-resi conversions could top 20,000
Asset managers fear high risk of stranded assets
Let nature in to create thriving, successful cities
Image from Blackpoint Design
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