Here’s a look ahead to what is happening in the world of commercial real estate this week. Make sure to check back with EG for the full analysis as we deliver your daily news agenda.
Tuesday
HSBC will report its financial results for the three months to the end of September this year. The bank experienced strong profit performance in the first half of 2024, therefore lifting guidance to a mid-teens return on average tangible equity in 2025.
Santander will also update its shareholders on its performance during the third quarter of 2024 after reporting a profitable first six months of the year, thanks to its business and geographical diversification.
The City of London Corporation’s planning committee has been recommended to approve plans for Freshwater Group’s Square Mile tower. The redevelopment of Tenter House at 45 Moorfields, EC2, would create a part-14, part-21 storey block totalling nearly 368,000 sq ft, comprising 363,400 sq ft of office space, 3,100 sq ft of retail and 1,500 sq ft for community use.
The Corporation will also have Dominus and Cheyne Capital’s redevelopment plans for 65 Fleet Street, EC4, on the table. The pair propose to turn the 230,000 sq ft office building into student homes.
In addition, the Corporation’s planning officers have recommended the approval of proposals to turn a former bank branch into a mini-golf and bowling venue. The plans feature the transformation of part of the ground floor and basement of the building at 165 Fleet Street, EC4, which has been vacant since late 2021.
Rochdale Borough Council’s cabinet will look into a development framework proposal for Greater Manchester’s largest employment hub, known as Northern Gateway, at Atom Valley. If approved, the framework would establish planning principles for the area, which would provide almost 13m sq ft of employment space, generating more than 20,000 jobs and bringing a £1bn economic boost to the region.
Wednesday
Retailer Next will report on its performance in the third quarter of this year as it presses ahead to try and achieve 9.7% growth in earnings per share by the end of 2024, a number that the business has not seen for some time.
Chancellor Rachel Reeves will present the Autumn Budget and Spending Round 2024 to parliament, shedding light on the government’s plans to plug a £22bn black hole in the UK’s public finances. EG will have its eyes on the statements about access to affordable homes and energy efficiency rules for landlords.
Thursday
PPHE Hotel Group will deliver a third-quarter trading update, having posted record revenue for the first half of this year. Back in August, the company signalled a positive start to the second half of the year, supporting the board’s confidence in the outlook.
Leeds City Council’s planning committee is expected to move forward stalled makeover plans for the former Weetwood police station to the chief planning officer for approval. The move comes as Weetwood Developments agrees to share post-development profit to provide affordable homes in the region.
Friday
Dive into a “meticulous” approach to crafting a regional flex offices portfolio in this week’s EG interview. What is it that makes workspaces more collaborative and more fun?
EG’s must reads will be live at 3.25pm, wrapping up the news from the week, making sure you stay ahead in the world of commercial real estate.
If you’d like to get your big news of the week featured in EG’s news agenda, drop us an email at newsdesk@eg.co.uk
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