Good morning. Here is your morning missive with the latest news and views from EG, plus a selection of the best bits from the daily papers.
Landsec has made a pretax loss of £622m after after a year marked by strong lettings but falling values. Chief executive Mark Allan said: “Last year saw the most striking difference in performance between occupational markets and investment markets that I can remember.”
Brookfield is putting Center Parcs up for sale with a £5bn price tag – double what it paid Blackstone for the holiday village operator in 2015.
Homes England has unveiled a new five-year strategic plan, committing the government’s housing and regeneration agency to working in a more “place-based” manner. Chief executive Peter Denton said he hopes the £16bn, 9,000-hectare pipeline will “legitimise and expand” the various strands of its offering.
Labour leader Sir Keir Starmer will reject calls by London’s mayor for powers to introduce rent controls in the UK capital.
The government has defeated Guy Hands in the battle to take back control of tens of thousands of military homes valued at more than £8bn. The private equity investor has said he will appeal.
Meanwhile, The FT (£) takes a trip to Teesside’s former steel plants to see how mayor Ben Houchen became embroiled in a property scandal that opponents have said smacks of “industrial-scale corruption”.
Newcastle City Council and Invest Newcastle are looking for a funding partner to expand the North East’s £1.7bn life sciences ecosystem. The partner would buy the 90,000 sq ft Biosphere lab facility and three development plots in the Newcastle Helix district.
Planning consultancy Iceni Projects has invested in Urban Intelligence, an early-stage business focused on the digitisation of the planning system.
And administrations are on the rise, as FRP Advisory says it expects profits to exceed expectations.
And The FT(£) interviews Norman Foster at a Pompidou Center exhibition dedicated to the architect’s influences.
