Good morning.
Here is your AM bulletin with the latest news and views from EG, along with a few of the best bits from the daily papers.
A High Court judge has approved Fitness First’s restructuring plan, paving the way for the beleaguered gym chain to close premises and pay landlords lower rents. Five landlords, including Lazari Properties and the Crown Estate, opposed the deal, saying they wanted more time for negotiations.
And the latest crisis engulfing the RICS has once again cast a spotlight on the organisation. But what should happen next? Take part in this survey to have your say.
In other news, Barratt Developments has sold a portfolio of 604 homes to Lloyds Bank’s Citra Living for £168.4m cash.
And MJ Gleeson has sold 288 homes to global investment fund Carlyle for £50.4m.
The boss of WHSmith has said the retailer won’t be opening any more UK high street stores.
The Youth Hostel Association is to sell off 20 of its 150 hostels in England and Wales.
Civitas Social Housing has defended a £485m takeover offer by CK Asset Holdings, saying it is “fair and reasonable” despite undervaluing the REIT’s assets by more than a quarter.
Salesforce wants to expand its operations in the UK, with plans to invest $4bn over the next five years.
And local councillors are quitting over being forced to attend planning meetings in person, according to a survey by the Local Government Association.
There remains an enormous challenge ahead of us to decarbonise the built environment, writes Amira Hashemi, Knight Frank’s ESG lead for property asset management. “But future leaders should grasp this opportunity with both hands.”
The Guardian takes a look at the Thames Barrier, which has been protecting the capital from flooding since 1982. How much longer can it last?
And the shortlist for the EG Awards 2023 is out. Have you made the grade?
