Good morning. Here is your AM bulletin, with the latest news and views from EG, as well as a few of the best bits from the morning papers.
Galliard Homes, alongside new joint venture partner Singapore’s CDL, has bought LandsecU+I’s 13.8-acre Morden Wharf development, SE10. The £1bn GDV site has planning for around 1,500 homes, 186,000 sq ft of commercial space and a four-acre Thames-side park.
British Land’s profit has risen by 3.4%, thanks to strong letting activity and strict cost control.
Pension Insurance Corporation has made its first affordable housing investment, committing £50m to build 125 homes alongside developer London Square.
But the planned redevelopment of Blackfriars Crown Court, SE1, which would have boasted a 1.4-acre rooftop forest, has been placed in receivership over a loan from the Reuben brothers’ Motcomb Estates.
Harworth has secured planning for an 800,000 sq ft logistics scheme at its 50-acre Skelton Grange site in Leeds.
Luxury developer Dar Global is entering Saudi Arabia to capitalise on “growing international interest” in the kingdom’s real estate market. The London-listed company’s management team is weighing up “several promising opportunities”, highlighting Saudi’s Vision 2030 plan as driving activity.
Meanwhile, Saudi Arabia’s Neom – the $500bn, 10,200-square-mile mega-project in the northern Arabian desert – has opened its first international office in London.
In other news, Ikea’s parent company, Ingka, has bought its second UK shopping mall, in Brighton, for an estimated £145m.
The FT (£) takes a closer look at how Rene Benko was forced out as chair of Selfridges owner Signa.
Rules to force empty second homes in Wales on to the market risk destroying the self-catering holiday industry, business leaders have warned.
Buy-to-let landlords are still selling more homes than they are buying – for the seventh year in a row – but they have sold 40,000 fewer this year.
And the housing market looks as though it will fare better this year than many analysts had predicted, with asking prices dropping by just 3%.
The latest episode of EG’s Office Politics takes a look at the legislation contained in the King’s Speech.
And the King’s Speech also features in this week’s EG Like Sunday Morning, along with WeWork’s woes, Home REIT’s sales and Donald Trump’s trials.
