Good morning. Here’s your daily round-up of the latest news and views from EG and a collection of real estate-relevant headlines from the national papers.
Life sciences rents continue to rise across the Golden Triangle markets of Oxford, Cambridge and London, particularly for smaller, fully fitted space.
DTRE has tracked 2m sq ft of requirements across the three cities, in analysis shared exclusively with EG, with demand still outweighing supply. Read more here.
London stands out as a hotspot for law firms boosting their office space. Some 40% of legal firms across the EMEA region expanded their offices during the first half of the year, according to Savills, with the UK capital registering the third-highest legal transaction volume, behind Paris and Brussels.
US firms drove much of the activity in London as they sought to increase their share of the city’s legal market. The knock-on effect was that British firms sought to expand elsewhere and secondary cities, such as Manchester, Birmingham and Glasgow, benefitted as a result.
In our latest Voice of the Regions podcast, Jamie Keith, Christie & Co’s director of UK holiday and residential parks, explains why the holiday park sector is ready for a fresh round of inward investment from domestic and international investment.
There’s news on an eco-home pilot scheme where the properties could run on energy bills of just £50 per month; the latest retail assets sold by Columbia Threadneedle; and an £18.5m trade for Honeywell’s logistics warehouse in Cheshire.
Plus, your look ahead to this week’s news agenda and the stories you’ll want to keep your eyes peeled for.
All of the news from EG, plus a selection of headlines from the nationals:
Fully fitted labs set to bear fruit as asking rents skyrocket
London proves a hotspot for legal expansion
EG’s news agenda: What to look out for this week
Voice of the Region: Holiday parks – hi-de-high ROI
Barratt, Homes England and Lloyds launch master developer partnership
Knight Frank sets up social value consultancy team
Assura names first chief investment officer
Columbia Threadneedle offloads retail assets
Cabot bags Honeywell’s Cheshire logistics hub
Planning given for eco-home pilot scheme
European banks set for slowest mortgage lending growth in a decade (£)
UK councils face £4.3bn ‘black hole’ in financing next year, data shows (£)
Reeves urged to charge capital gains tax on inherited second homes and businesses (£)
Canary Wharf bondholders need nerves of steel (£)
Ed Miliband considers scrapping planned nuclear plant (£)
Welcome to the age of the mega pub as super Spoons comes to London (£)
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