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.
Labour should launch its own version of “levelling up” if it gets into power, a centre-left think tank has said. Labour Together, which was set up by shadow chancellor Rachel Reeves, wants a Labour government to transform housebuilding and infrastructure investment, while slashing the price paid in CPOs.
The future ownership of Selfridges has been thrown into doubt after its Austrian co-owner Signa Group ditched its chair and founder amid a growing financial crisis.
And Home REIT has sold another batch of properties, this time for half the price it initially paid for them. Rents collected have lifted from a low of 3%, but are still only at 18%.
In other news, Bruntwood SciTech’s £60m plans to transform Glasgow’s Met Tower into a tech and digital hub have been approved.
While Estates & Agency Group has been given the green light for the refurbishment and extension of a Victorian office block on Charing Cross Road, WC2.
And plans to transform Preston’s Grade II listed former magistrates court have also been given the go-ahead.
Nido, meanwhile, has partnered with a joint venture between Primus Property Group and HIG Realty Partners for two PBSA schemes in Leeds and Lancaster.
Adam Neumann’s “blitzscaling” of WeWork into a global real estate behemoth could cost landlords dear as bankruptcy looms for the flex giant.
Senior Tories are urging the chancellor to cut taxes in his Autumn Statement after the Treasury received a £15bn tax windfall.
And Michael Gove’s planned ban on no-fault evictions faces a Conservative revolt.
White Stuff plans to open more stores as sales rise by 13%.
Upmarket hostel outfit Generator Group plans to accelerate expansion after completing a €750m global refinancing.
And with a new Wolseley restaurant opening in the Square Mile, can the City of London redefine itself as a dining destination(£)?
