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.
The results are in. More than three-quarters of real estate professionals have no trust in the RICS governing council, according to a poll by EG. The survey, which received almost as many responses as the Bichard Review, showed that more than half want to end self-regulation, with almost two-thirds wanting the government to intervene.
Meanwhile, the industry is furious with the prime minister’s decision to axe the northern leg of HS2. And they aren’t the only ones. Business, in fact, seems fairly united in its condemnation of the decision. And even though West Midlands mayor Andy Street has chosen not to resign over the issue, many landowners and developers will be out of pocket and left in limbo by the decision.
No wonder, as most of the schemes being handed the £36bn of funding freed up by axing the route have already been announced and promised funding. And, as the BPF’s Melanie Leech says: “Network North is at present just a slogan.”
In spite of all of that, EG’s editor is in a positive mood. Maybe it is the unseasonably warm weather? Maybe it is the fact that the new RICS leadership seem serious about bringing about change? Or maybe it is because the next generation of Future Leaders show there is a lot to feel positive about?
The same can’t be said about some of the leaders from the past. The former chief executive of Carillion has been disqualified as a director for eight years for his role in allegedly concealing accounting troubles at the collapsed construction company.
But some good news for offices. Most bosses believe their staff will be back in the office five days a week within the next three years, according to a KPMG survey.
No wonder GPE is looking for more development opportunities to spend its “significant financial firepower” on.
An AI-driven platform that can help property companies automatically assess the sustainability of their suppliers has raised $2.4m in a seed funding round led by Pi Labs and Hambro Perks.
And Redcar and Cleveland Borough Council has given the go ahead for a new 1.6m sq ft data centre at Wilton International in Teesside.
Greystar has bought the 391-home Renshaw’s Yard development in Staines-upon-Thames town centre from Dandara Living in a forward funding deal.
As Zetland Capital Partners sells its £150m GDV residential site in Stratford, E15, to a private buyer.
And investment agency Harris Associates has hired Alex Matthews as the its first head of BTR.
While residential rents have reached another record high after rising by 10% over the past year.
But houses in England are less affordable and worse quality than those in every other European country, according to the Home Builders Federation.
And finally, Donald Trump has been ejected from the Forbes’ list of the 400 richest people. A $600m drop led him to fall from 339th place, leaving him around $300m short of qualifying. Not to worry – he could always just say he is worth more.
