Good morning, this 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.
Home REIT has hired former Helical board member Michael O’Donnell as its new chair, replacing Lynne Fennah with immediate effect. He will face an unenviable task to restore the REIT’s fortunes, after 18 months of scandals, suspensions and shareholder disquiet.
This week EG posted a story about an effort by the Greater London Authority and the London Property Alliance to help those who are homeless this winter. They want the real estate sector to volunteer vacant space. The response has “reaffirmed some of my faith in humanity”, writes EG’s deputy editor. But the call and its urgency mustn’t be forgotten, even when the story itself becomes old news.
Meanwhile, the COP28 pledge by 28 countries to make “near-zero emission and resilient buildings” our “new normal” by 2030 is a watershed moment for the sector, writes Igloo founder Chris Brown. But the big question is how can we reorient the sector towards society’s needs, rather than a dependence on what financial markets are willing to fund?
In other news:
Goldman Sachs jv acquires three Wembley BTR sites
Listed real estate drops after inflation shock rise
Retrofit of Gresham Street office gets go-ahead
Pontegadea ‘buys the dip’ to expand real estate portfolio
Southwark loses legal battle over Aylesbury regeneration
Home workers have ‘no attachment, passion or creativity’
House prices fall fast, but agents optimistic
