Good morning.
Knight Frank has reported record pretax profit despite a dip in turnover caused by the Covid pandemic. Senior partner and group chair Alistair Elliott said: “I don’t cherish a crisis but I’m quite happy to roll up my sleeves and get on with it, and that is exactly what we did.”
London has beaten off competition from Paris and Berlin to become the highest ranked European city(£) for property investment.
But a lack of green office space(£) outside London could make companies miss their sustainability pledges.
The City’s biggest investment banks(£), including Deutsche Bank, JP Morgan and Morgan Stanley, have bet that interest rates(£) will rise next week.
But mortgage lenders(£) factoring in the rise could cool the housing market(£).
The Times (£) looks at the property speculation that blew a £200m hole in local authorities’ budgets.
And retailers hoping for a business rates cut in 2023 will be disappointed, after it was revealed that revaluations must be “revenue-neutral to the Treasury”(£).
Macquarie Group(£) has tapped investors for £825m as it prepares for further UK takeovers.
Asda’s owners are planning a European expansion(£).
The Times (£) talks to JLL boss Stephanie Hyde about her move from PwC and the focus on ESG and diversity.
JP Morgan is sticking by German real estate firm Adler(£) in the face of allegations from an anonymous whistleblower.
In the US, warehouses are running out of space(£), with piles of containers taking the strain as temporary storage…
…And Donald Trump’s politics are apparently hurting his real estate business(£).
Meanwhile, students are worried they will be doing the wrong sort of cramming after a $1.5bn plan for windowless accommodation(£) was unveiled in California.
The Halloween episode of EG Like Sunday Morning is choc full of treats (and occasional tricks).
And finally, Bod Geldof doesn’t like Mondays, but it seems he is a big fan of Monets. The Boomtown Rats singer has been granted permission to build a huge wildlife pond at his Kent home, based on the impressionist artist’s Water Lilies paintings.