Mayor overturns BL refusal
Mayor of London Boris Johnson has approved a British Land residential scheme in Putney that was rejected by Wandsworth council.
BL’s plans for 56-70 Putney High Street, SW15, include 97 homes.
Johnson said the development was deemed to have a “significant impact on the implementation of the London Plan”.
Regions attract foreign cash
International investment into the UK regions will reach a record high of £14bn this year, according to Savills.
A total of £10.5bn of property located outside London has been purchased by overseas purchasers in the first eight months of the year, according to the agent, the highest volume since records began in 2000.
Premier Inn adds to pipeline
Whitbread has added 1,100 Premier Inn bedrooms to its development pipeline after securing six new sites.
The brand is aiming to operate 85,000 bedrooms by 2020.
City in record recovery
City office rents have proved to be significantly more resilient following the most recent global financial crisis than previous downturns, new research by Knight Frank has found.
The study indexed rents at 100 for the pre-downturn peaks in each of the past three cycles and found that rents recovered far sooner and held up much longer in the current recovery than those following the early 1990s and 2000s downturns.
Correction
“Occupiers feeling the pinch” (24 October, p6-7) incorrectly stated rents in the West End, City fringe and total occupancy costs for the City fringe.
West End rents are £150 per sq ft, City fringe rents are £69.50 per sq ft and City fringe total occupancy costs are £100.25 per sq ft, according to Carter Jonas’s data.
