Good morning.
M&G Real Estate has teamed up with Hyde for its £500m affordable housing debut. It plans to fund 2,000 homes in the next two to three years.
The government, meanwhile, has allowed retailers to “raid the nation’s pensions and savings”(£) by extending the eviction moratorium, the BPF has said. A “call for evidence” will be launched to seek responses to proposals including a phased withdrawal of the protections.
Kajima’s 77 Coleman St was completed in the teeth of the pandemic, amid fears of occupiers shunning City space. Now it is now half full, with deals on the table to take it to 75%.
That’s because most people want to return to the office, Deloitte tells MPs(£). But only for some of the week.
In fact, The Times (£) says that home working looks here to stay for law firms.
As with home working, for some home schooling has been a joy. For some it has been tough. For the one million UK children without access to a computer it has been impossible. Real estate must change this, writes EG’s editor. It’s time to #REBoot.
Shares in CLS Holdings rose by 2% yesterday after “positive” results, while Dukemount Capital and Foxtons rose by 10%(£). Capital & Regional was less fortunate, with an 11% fall wiping out the gains made earlier in the week.
The UK is a more appealing place to invest(£) after Brexit, according to PwC…
… But that won’t stop Amsterdam. Frankfurt and Paris from taking advantage(£).
The FCA has said it must “up its game”(£) after mishandling the London Capital & Finance scandal.
And Next(£) has snapped up a 25% stake(£) in fashion retailer Reiss, with an option to raise that the 51%.
The government will invest £100m(£) to create two new wind turbine ports(£) in the north of England.
And Arconic, the company responsible for Grenfell Tower’s cladding, was warned back in 2007 that it was lethal. In 2011 it was telling customers not to buy the product.
Balfour Beatty(£) is increasing its share buyback scheme to £150m and has reinstated its dividend after its cashpile grew to £581m in 2020.
Home sellers delayed listing(£) their properties last month as lockdown continued, but the budget has “changed the landscape for the housing market”, according to Knight Frank(£).
A smooth-talking football agent called Barry Silkman has started a legal battle against his ex-wife’s former lover, Gaven Love. The former Manchester City midfielder is fighting his former friend for control of property(£) left in the will of Ally Fuller, Silkman’s ex-wife.
Donald Trump returned to Manhattan this week for the first time since losing office, as details emerged of deepening investigations(£) by prosecutors.
Meanwhile, Russia and China have struck a deal to build a moon base(£).
Olympian Sir Chris Hoy will lead a 60-mile charity bike ride(£) between Glasgow and Edinburgh in September to raise £1m toward the expansion of Social Bite’s “housing first” initiative.
Panicking that you missed the entry deadline for this year’s EG Tech Awards? Breathe easy – you now have until 26 March to get your entries in. Click here to enter and… Good luck!
And finally, for many the appeal behind returning to the office is the simple fact that where they work is nicer than where they live. So why not just live where you work, instead of working where you live? Talk is getting louder about plans to turn older City offices into housing, but some take a more direct approach. The Times (£) has the oddly charming tale of Tom Garvey, who worked and secretly lived in Philadelphia’s Veteran’s baseball stadium for two years. Expect Tom Hanks to take the film role.
