Good morning. Here is your AM fix of news and views from EG, plus a few choice stories from the daily press.
Home REIT has pinned its hopes on its new investment adviser being able to right the ship, after Bluestar Group abandoned its 40p-a-share bid. Home refused to extend the “put up or shut up” deadline by another month, saying it was unclear where Bluestar’s funding was coming from and adding that the offer was too low anyway. AEW is thought to be in the frame for the role, but the deal has yet to be signed.
A group of Tory MPs have written to the prime minister urging him to “fast track” the Levelling Up and Regeneration Bill, over fears it may run out of parliamentary time. The East Midlands MPs are worried that this could kill a devolution deal for the region.
Meanwhile, plans to transform Birmingham’s traffic-clogged ring road into tree-lined cycling routes, new parks and communities are at the heart of a “bold vision” for the city in 2040.
Kao Data is to invest £350m to transform the Kenwood Point industrial site in Stockport into a 40MW data centre. It has named the Greater Manchester site as the first in a wave of new development.
Peel L&P has lodged plans to build 750 homes in two new neighbourhoods in Salford, Greater Manchester.
Vita Group has revealed plans for a £240m PBSA and social housing scheme in Edinburgh, to replace the BTR scheme it already has approval for.
MBU Capital Group has appointed Knight Frank to market its £100m Euston PBSA scheme, dubbed “London’s most central PBSA”.
The FT (£) takes a look at the investors struggling to repurpose stranded office assets. “If it wasn’t a death star, it would have already been converted to residential,” says one real estate executive of BlackRock’s Atrium building in Uxbridge.
The boss of electicals retailer AO World has told staff to get back to the office or quit. “I’d urge them to please leave.”
And finally, a millionaire motivational speaker has been told to pay more than £800,000 over an 18-inch land-grab, after he failed to convince the judge at appeal.
