MORNING NEWS: London Square plots £15bn platform

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. Residential developer London Square intends to build a £15bn platform in the next five years. The company has acquired 12 sites with a GDV of £2.3bn, nearing its target of £2.5bn for the first year it has been in business with parent company Abu Dhabi-based Aldar Development. Chief executive Adam Lawrence told EG: “The strategy going forward is placing more emphasis on build-to-sell, and into more prime markets than we were present in previously, as that is a sector suitable for London. We were previously not focused on those, but that was more of out of necessity than desire.” The Older People’s Housing Taskforce has published its recommendations to the government, aimed at enabling the delivery of more homes for elderly people. The task force’s recommendations include establishing a specialist unit to drive the delivery of age-friendly homes. It said ministers should set up a joint unit between the Ministry of Housing, Communities and Local Government and the Department of Health and Social Care to create a plan of action. In response to the report, the British Property Federation said, according to its figures, the UK needs 50,000 specialist homes per year “to meet the needs of an ageing population, yet current delivery falls woefully short at just 7,000 annually”. Pioneer Group has strengthened its top team amid its expansion spree, hiring life sciences specialist Chris Walters from JLL. Walters spent more than 14 years with the agency, most recently as head of life sciences for the UK, advising on development and investment opportunities. He has also worked closely with all aspects of the occupier business. Walters will focus on Pioneer’s £1.5bn life sciences portfolio, which it aims to build out in partnership with the Crown Estate and Oxford Science Enterprises.  There’s also news on W.RE’s lessons from its various deals with flexible office operators; a padel court operator lining up a deal to take space vacated by cinema chain Vue; and interviews with new Helical chief executive Matthew Bonning-Snook on the company’s development pipeline and LondonMetric’s Andrew Jones on his acquisition ambitions.  All of the news from EG, plus a selection of headlines from the nationals:London Square targets £15bn platform in next five yearsView from Mapic: UK leads European retail investmentW.RE boss puts flex in focus across London portfolioPadel to replace the pictures as Vue cuts cinema spaceLocale picks up mandate for Salesforce TowerSavills nabs duo from Avison Young to grow Midlands teamKauffmans bolsters capital markets team with hire from Avison YoungWhy government must seize the moment for older people’s housingSchroder REIT welcomes ‘favourable momentum’RO Group doubles up on ambitions for Swindon schemeTask force publishes recommendations to increase homes for older peopleManchester creative hub Diecast applies for permanent homeHelical’s chief exec on going from disposals to developmentPioneer hires life sciences boss from JLLArdstone gets go-ahead for Calton Square refurbAndrew Jones: ‘My job is to buy companies’TR Property builds physical portfolio with purchase of two shedsCriterion refinances Leicester Square hotel as it looks to grow Zedwell brandEcoWorld London doubles homes at former Brentford FC siteShaftesbury buoyed by West End performance going into ChristmasRingley parts ways with South Kensington EstateOdeon movies in to fill Cabot Circus cinema vacancyBoE’s Lombardelli says more evidence needed before next rate cut (£)Historic meat market to close after more than 800 years trading in LondonCelebrity haunt the Groucho Club shut over reports of ‘serious crime’ (£)Blackstone pours more than €500mn into southern European hotels (£)