MORNING NEWS: PwC ponders major office move

Good morning. Here’s your daily round-up of the latest news and views from EG and a collection of industry-relevant headlines from the nationals. Big news in the world of offices this morning as EG can reveal that accountancy giant PwC is in the early stages of exploring new options for its London office space. The firm has issued a request for information to agencies to advise it on the future of its office portfolio in the capital. In London, the firm has offices at 1 Embankment Place, WC2, and 7 More London Riverside, SE1, with more than 900,000 sq ft of space across the two. A spokesman for the accountancy firm told EG: “Our London office footprint is core to our business and, given the London property cycle, early forward planning is essential.” Industry leaders have urged the chancellor to use tomorrow’s Budget to support decarbonisation in real estate, cancel April’s business rates rises and invest in the planning system. Experts called on chancellor Jeremy Hunt to provide a clear long-term framework ahead of the upcoming general election. Decarbonisation was at the top of the wish list for several industry leaders. Melanie Leech, chief executive at the BPF, said: “Ahead of the Budget, we urge the chancellor to reinforce the government’s ambition to be a world leader in tackling climate change by setting a clear policy framework for decarbonising the built environment. He must acknowledge the scale and complexity of the challenge to decarbonise our older building stock in particular and create tax and financing incentives that can unlock investment. “There is huge potential to use our commercial buildings to generate renewable energy – but we need to make sure those companies that invest to generate power that is sold back to the grid are properly rewarded to do so.” Elsewhere, IWG’s Mark Dixon is feeling confident after posting revenue of almost £3bn across the group. And while he says the business will remain focused on the strict control of costs, he says he also has a “laser-like focus” on expansion. The group added 867 new locations to its portfolio of more than 3,500 sites last year. All of the news from EG, plus a selection of headlines from the nationals: PwC preps new London office huntLondon unveils £9.6bn of ‘investible opportunities’IWG sees ‘substantial room for growth’ as group revenue nudges £3bnHome REIT eyes ‘next step’ of turnaroundWhat real estate wants from the Spring BudgetCapital’s shed owners call for planning clarityBelfast needs 6,000 more student beds by 2030Aussies commit further £8bn to UKProgress needed for Euston to deliver £41bn economic boostSama secures £500m investment for West Midlands PBSA pipelineCOMMENT: The next chapter in Liverpool Street station’s historyHat-trick of hires for Hilltop as it plots growthWorkspace bosses brew up new flex rolesPlans in for Belfast health hub’Venice of Britain’ could sink as landowner steps away (£) UK retail sales rose at slowest pace since 2022 in February (£)Berkshire Hathaway unit added to class action suit against big US property agents (£)Trial begins for Vietnamese property tycoon accused of $12bn fraud (£)Chinese developers resume UK commercial property retreatChina’s property debt woes deepen as Vanke under closer scrutiny (£)How Argentina’s ‘chainsaw man’ slashed rents by 20% (£)