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 prime minister’s announcement that he will delay net zero targets is “deeply frustrating” and “the opposite of what we need”, BPF boss Melanie Leech has said.
Meanwhile, CBRE has shown that the industry will continue taking steps to go green regardless, as it announces a strategic partnership to decarbonise its supply chain.
Developer and industrial real estate operator GLP has launched a global data centre business – Ada Infrastructure – with 850MW capacity and nearly 1.5GW in the pipeline.
And while the 40% drop in value of 125 Shaftesbury, bought by Mitsubishi Estate London and Edge this week for £150m, could be seen as a pretty bleak bellwether for the market, there is no need to be too pessimistic, writes EG’s deputy editor.
The “social” in ESG has long suffered from a lack of comparable metrics and benchmarks. But no longer, as Evora and Fitwel team up to plug the gap.
In other news, Dunelm expects to acquire a number of former Wilko sites as it doubles the rate of its store opening plans.
Life Science REIT has raised its rental income by 35%, but is focusing on prelets as occupiers become “more thoughtful about taking space”.
Financial markets have priced in an even chance of the Bank of England leaving interest rates on hold at 5.25% today, as inflation looks set to fall to 5%.
But annual house price inflation is at its weakest level in more than a decade, with average prices £2,000 less than in November.
And almost 2,000 more independent stores are lying empty across the UK, after the first half of the year saw the biggest rise in vacancies in eight years.
