EG’s must reads: 30 September – 4 October

Here’s a wrap-up of some of the top stories on EG from the past week. British Land has acquired a portfolio of seven retail parks from Brookfield for £441m, adding to what chief executive Simon Carter calls a “market-leading position” in the asset class. The deal, which the company will pay for with the proceeds of a £301m equity raising, is priced with a net initial yield of 6.7%. British Land buys retail park portfolio from Brookfield for £441m British Land set for sign-off on Southwark logistics scheme  US pharma giant Eli Lilly is relaunching its search for a London base, more than a year after putting plans on hold due to pricing and regulatory pressures in the capital. Lilly UK, the firm’s local arm, headquartered in Basingstoke, Hampshire, has again instructed CBRE to look for space in London. Eli Lilly revives search for a London hub LaSalle Investments has put a City of London office up for sale for £30m, pitching it to buyers as a possible hotel conversion. Savills is marketing 29 Clements Lane, EC4, for a guide price that reflects a net initial yield of 7.5%. LaSalle offers Square Mile office as hotel conversion play  CBRE has appointed Kaela Fenn-Smith into a new role as UK head of client partnerships. Fenn-Smith takes up the position having spent the past three years growing CBRE’s ESG consulting business as managing director for sustainability and ESG consultancy. Fenn-Smith appointed UK head of client partnerships at CBRE Guinness World Records has appointed Savills in a bid to launch its first competitive socialising site, Guinness World Records VS London. The agent is on the hunt for sites of 25,000 to 30,000 sq ft across central London for Guinness World Records. Savills appointed on record-breaking deal  Other stories you mustn’t miss: Watch video coverage of EG’s Future Leaders at our Real Estate Futures 2024 event New Irish Embassy planned at Crown Estate’s 10 Spring Gardens  Gym operator signs for space at £1.3bn Olympia redevelopment  Allsop sets residential record with September sale  Hammerson files plans for Bull Ring market redevelopment  Littlewoods Building in the spotlight as agents tasked with finding occupiers  Judge calls ‘action’ on Cineworld UK restructuring plan  Shake-up for London’s busiest flex office markets  TPG buys German energy firm in €6.7bn deal  Photo © British Land