MORNING NEWS: Rayner to map out Labour’s new towns strategy

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 national papers. Angela Rayner is preparing to set out Labour’s plans for new towns, as part of its aim to build 1.5m homes. Rayner is expected to affirm the party’s support for private developers creating affordable and high-quality housing, in a speech at the UK Real Estate Investment and Infrastructure Forum in Leeds today. She will also emphasise the importance of transport links and other infrastructure in plans for new communities.   Universities Superannuation Scheme and Assura have formed a £250m joint venture to support investment in essential NHS community healthcare buildings. The joint venture has an initial term of 20 years and will be seeded with a £107m initial portfolio of seven properties, transferred from Assura’s existing portfolio at a small discount to March book values. The partnership is targeting acquisition-led growth to £250m over the next three years, with potential to grow to £400m thereafter. It will focus exclusively on assets let directly to NHS or GP tenants, with rents linked to inflation or with fixed uplifts. Funds affiliated with TPG and PAG Asia Capital are seeking to offload shares in Cushman & Wakefield through a public offering. The shareholders are proposing to sell 26,513,041 ordinary shares. If the shares were sold in line with trading on 17 May, their stakes would be worth a combined $310.7m (£244.5m). Cushman is not offering any shares and will not receive any proceeds from the offer. Sainsbury’s has put a £19m sale sticker on Swedish electric car maker Polestar’s head office in Ansty Technology Park, Coventry. The retailer, which owns the freehold, has appointed Cushman & Wakefield to sell the grade-A office at a 8.25% net initial yield. The 66,000 sq ft office is under refurbishment and is let to Polestar for its new UK HQ, on a 15-year lease. And Bidwells is the latest property player to gain B Corp status. Chief operating officer Kelly Bream said the accreditation is “an important step” in its ambition to become “the UK’s most sustainable property consultancy”. All of the news from EG, plus a selection of headlines from the nationals:Sovereign Network picks Vistry for 575-home Ealing schemeUSS and Assura form £250m joint ventureHGP funds acquisition of first co-living scheme in WalesRayner to set out Labour’s plan for new townsSainsbury’s prices Polestar’s Coventry HQ for saleThe TIME has come to start investing, says CushmanEast of England overtakes London as favoured region for property investmentHeim acquires Leeds scheme for £800m BTR fundTPG and PAG float Cushman shares through public offeringSouthampton’s £40m low-carbon logistics scheme approvedBidwells achieves B Corp statusCEG’s EQ sets new big six headline office rentManchester launches 1,000-home regen consultationChief executive and chair step down from LLDCDurkan losses narrow as turnover risesGoodman secures auto parts supplier for Bedford shedLichfields adds duo to London planning teamRetirement developer creates ‘first of its kind’ transparent tenurePioneer instructs agents on Teesside’s Wilton CentreTritax Symmetry gets deal for Hinckley National Rail Freight InterchangeGordon Ramsay to open restaurants at Lendlease’s Stratford CrossAbrdn to wind-down European logistics fundKnight Frank adds digital strategist to executive boardSavills appoints global occupier services chiefCBRE names head of UK investment propertiesNational deals round-upHoney sweet on Rotherham homes planUKGBC calls on next government to invest £64bn in retrofitting Green light for YASA’s new Bicester Motion UK HQFamily office buys Oxford Street retail from ThorMike Ashley looking at joint venture with the Crown Estate (£)Corporate Japan’s $77bn in property gains offer target for activists (£)