Good morning. Here is your AM bulletin, with the latest news and views from EG, along with a few of the best bits from the morning papers.
Landsec is to add more than 100,000 sq ft to its flexible office portfolio, including a newly purchased block in London’s King’s Cross. The REIT will open two new Myo locations – 23,000 sq ft at Lucent, W1, in 2024, and 82,000 sq ft at Regent Quarter, N1, in 2025.
Jacob Young has been named the latest levelling up minister, following the resignation of Dehenna Davison. He is the fourth person to hold the role since it was created two years ago.
KB Securities and MG have accepted an offer of £150m for 125 Shaftesbury Avenue, WC2. The lengthy bidding process ended with Japan’s Mitsubishi Estate London and Dutch developer Edge taking the 180,000 sq ft block, previously occupied by WeWork, for £30m less than the list price.
Troubled housebuilder Inland Homes is seeking to offload its modular subsidiary Hugg Homes for more than £10m in a bid to ease its balance sheet woes.
The FT (£) reports on the UK’s growing epidemic of homelessness, as affordable housing numbers dwindle and private rents soar.
And some of England’s biggest social housing landlords, including L&Q and A2Dominium, are ignoring official warnings. And the problem is getting worse, the ombudsman for the sector has said.
Tory MPs have called on the prime minister to commit to the northern leg of HS2, after ministers refused to confirm that the rail link will ever reach Manchester.
While a Conservative think tank has called for a £500m regeneration package, including planning powers, to level up the coast.
Former BPF boss Liz Peace has joined the board of AEW UK REIT.
And finally, in case you were planning on doing MIPIM in style next year, there is an Edward Lutyens-design chateau on the market near Cannes for a mere €25m.