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.
Monday
Plans for one of the most objected to developments are set to go before decision makers at the Loch Lomond and Trossachs national park authority today. Yorkshire-based theme park owner Flamingo Land wants to build at major park on the banks of Loch Lomond comprising 104 woodland lodges, two hotels, a water park, a monorail, 372 car parking spaces, shops and more. It has received objections from more than 150,000 people.
Tuesday
EG’s Real Estate Futures event will be held at Church House in Westminster, SW1, a full-day event offering inspiration and practical tools for real estate professionals. This award-winning Future Leaders programme showcases the fresh – but potentially hidden – talent that exists across the sector.
Target Healthcare REIT is set to shed a light on its annual financial figures following a shift in its investment focus to modern, purpose-built care homes, with a bias to private residents. In its most recent corporate update last month, the company reported a decrease in both portfolio value and rental income amid disposal activity.
Springfield Properties will post its final results, with analysts predicting the company to generate lower profits and revenue over the past year amid decline in completions in private housing. In its most recent trading update in July, the company guided for a slip in revenue to £266m from £332m year-on-year, reflecting challenging conditions in the housing market.
Henry Boot is expected to update the market on its interim performance, which is expected to be slower than a year ago. Back in May this year, the housebuilder reaffirmed its financial performance to be heavily H2 2024 weighted as it expected market sentiment to improve towards the end of the year, thanks to falling inflation and interest rates.
Oxford City Council will consider plans for the redevelopment of three office buildings on Hythe Bridge Street into a research and development facility. The plans were lodged in March this year by Forge_KN, a joint venture between Reef and UBS. The proposal would create a 213,179 sq ft life sciences hub, which would provide laboratory space and a community hub.
In addition, the council will make a decision on two lab schemes brought forward by Brookfield life sciences spin-off ARC. The two separate planning applications – for plot 2000 lodged in late 2022 and plot 5000 submitted in May this year – form part of the developer’s commitment to invest £1bn in the region by 2030.
In Sheffield, the final phase of the Park Hill regeneration is recommended for approval. Urban Splash and Places for People have proposed to deliver the fifth phase comprising 105 homes and 2,153 sq ft of commercial space.
And Greenwich Council is likely to grant approval for the 564-home Enderby Place scheme, proposed by Maritime View. The 33-storey tower will sit within the Greenwich Peninsular Opportunity Area – part of the Thames Estuary North and South Growth Corridor.
Wednesday
Grocery store investor Supermarket Income REIT is on track to unveil its full-year performance as it readies for the next stage of growth. In July, Edison issued a note predicting the firm would post double-digit rental income growth over the 12-month period to 30 June.
Residential developer MJ Gleeson will deliver its annual financial results, which are expected to be affected by planning delays in its land division. Its sales rate over the past six months has been less vigorous than expected amid deferred expectations around interest and mortgage rate reductions.
Cambridge City Council is expected to make a decision on the £200m second phase of a biomedical campus expansion proposed by Prologis. Planning officers have recommended the approval of a life sciences scheme comprising two buildings of 142,847 sq ft and 134,807 sq ft.
Bristol City Council’s planning committee has been recommended to approve a 435-home build-to-rent scheme from Dandara The site is proposed to be transformed with a 15-storey tower featuring a residents’ lounge, gym, workspaces and cycle storage.
Thursday
The Bank of England will decide the direction of interest rates, which are likely to be held. Last month, the monetary police committee voted in favour of a cut to 5% from 5.25%.
Retailer Next will update the market on its financial performance so far this year after exceeding its own full-price sales expectations. The company had planned demand for its clothing to drop by 0.3% following an “exceptionally favourable” period last year. However, last month it surprised shareholders by posting a 0.4% increase in full-price sales in the UK, including both online and retail.
Friday
EG’s must reads and most reads will be live at 3.30pm, wrapping up the news from the week, making sure you stay ahead in the world of commercial real estate.
And this week’s EG Interview, which lands in your digital magazine on Thursday and online Friday, will have you raising a toast to the power of physical retail. Who could it be? Well, let’s just say it’s going to be magnificent…
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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