Good morning,
Home REIT has said it will start selling its properties as it attempts to “stabilise” its battered business. The REIT said it had also received six proposals from firms to replace Alvarium Home REIT Advisors as its investment adviser and paid back £30m of its £250m Scottish Widows loan.
Richard Upton’s Cathedral has been given the go ahead for a £150m restoration of Brighton’s historic Moulsecoomb Place Manor House, Tithe Barn and gardens.
Galliard Homes and Apsley House Capital have bought a former Sainsbury’s site in Selly Oak town centre. The duo is planning a £163m GDV student-led mixed-used scheme.
And Gerald Kaye says Helical’s recent deal with TfL has handed the developer its most significant pipeline for a number of years.
Bruntwood SciTech has secured £100m in green funding. Half will be used for the next phase at Manchester’s Circle Square.
Capital 38 and development partner Morgan Capital’s 86,000 sq ft office refurbishment at 21 Bloomsbury Street, WC1, has been granted planning permission.
And receivers at Strettons have been appointed to sell a residential development site in Liverpool. The Waterloo Road site has planning for a £27m scheme, and is seeking offers around £2m.
In this week’s EG Interview, PfP Capital’s new chief executive Catherine Webster talks about herself as being “unashamedly capitalist, but for good reason”. And that, EG’s editor writes, is what we should all commit to be.
And we continue our coverage of the planned changes to the Landlord & Tenant Act (1954). “Quicker, clearer and simpler”, was the overwhelming response when members of the Property Litigation Association were asked what needs to be changed.
But if you are after a bit more detail, Hogan Lovells partner Paul Tonkin takes a look at what the PLA survey tells us should be changed in the 70-year old legislation.
And there’s a podcast on it too! You lucky people!
In other news, Michael Gove has accused the Railways Pension Scheme of failing to fix “life-critical” fire risks at 10 buildings it owns with dangerous cladding.
Fulham Shore, the restaurant group behind the Franco Manca and Real Greek, has accepted a £93.4m takeover bid to expand the business.
BlackRock has been appointed to help sell a $114bn portfolio of Signature Bank and Silicon Valley Bank’s mortgage-backed securities.
And The Guardian is very upset after discovering that the royals earned more than £1bn from the duchies of Cornwall and Lancaster.
