Good morning, this 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.
An EU agency faces a potential London office space bill of more than €450m, after sublessor WeWork stopped paying rent. The European Medicines Agency had its HQ at 30 Churchill Place in Canary Wharf until Brexit forced it to relocate. It then sublet to WeWork, which stopped paying rent at the start of this year. But the EMA still has the lease until 2039, leaving it will a £30m liability each year unless and until it can arrange a new sublet. Potentially that could amount to €450m.
Artisan has won approval for a 321-studio PBSA scheme in Glasgow. The scheme will hopefully be third time lucky for Artisan, which has previously won planning for a hotel and homes on the St Vincent Street site.
And residential landlords could be forced to fix problems with homes within a set time frame, under a planned piece of legislation dubbed Awaab’s Law. The law, which went out to consultation yesterday, is named after the three-year-old boy who died following exposure to mould in his housing association home in 2020.
In other news:
Persimmon completions fall by a third
Tri7 acquires Southampton shopping centre
More than half of Rydon’s resi blocks are unsafe
Councils want more powers over empty homes
Ministers ditched active travel over 15-minute city conspiracy
