Good morning.
New housing secretary Michael Gove has been urged to return £100,000 he received last month in donations from a property developer.
Meanwhile, MPs who have recently discussed planning with Gove say he could be more keen on financial “tweaks”(£) than releasing more land for development.
The FT (£) says that Gove is the “key appointment”, tasked with delivering the government’s levelling-up agenda.
While The Telegraph (£) says it could either be the end of the comeback kid, or his chance to “redefine Toryism forever”.
And EG finds out what the property industry wants, and expects, from the new broom.
Perhaps he will have something to say about the fact that councils now own £6.4bn of commercial property(£)?
German asset manager DWS Group is lining up a £92m deal to buy 13-17 Fitzroy Street, W1, from Workspace Group.
Regional REIT’s share price rose yesterday, after it posted a rise in half-year profit.
Marks & Spencer(£) has confirmed it will say au revoir to 11 of its French stores, as Brexit(£) wrecks supply chains.
Stamp dealer Stanley Gibbons(£) has put its US arm into administration after being owed $1.3m in rent by Stella McCartney. (Anyone who knows A Streetcar Named Desire could tell you that Stanley and Stella would not make a happy couple.)
The mayor of Bristol has pledged to rewrite planning rules to save the city’s last farm(£) from a Redrow housing development.
In China, Evergrande’s investors have been less than impressed by its owner’s attempt to show that he is “in the same boat”(£). Hui Ka Yan has publicised that his wife has invested $3m in the company, urging investors to show the same level of faith. They have pointed out that this is just a drop in the bucket of Hui’s $13bn wealth – 0.02% to be more exact – and that, as he owns 71% of the company, it isn’t really the same thing at all.
And finally, Michael Gove has only held the “housing-plus” brief for 24 hours, but already he is under pressure to deliver. And not just from the industry, but from his own colleagues. Former Tory leader Iain Duncan Smith has been leading demonstrators outside parliament calling on the new housing secretary to solve the building safety crisis, preferably before breakfast. Going against his reputation as the Quiet Man, IDS whipped up the crowd, shouting “Michael Gove, we want justice!” Ah, no. Dominic Raab was moved to the justice department. Do try to keep up!
