Spinningfields to serve D&D
Allied London has signed restaurant group D&D London to open a rooftop eatery at No 1 Spinningfields in Manchester. The 9,500 sq ft restaurant will have a large outdoor terrace. It will be D&D’s first Manchester restaurant and is due to open in the autumn of 2017.
Occupiers flock to sheds
Total UK shed take-up exceeded 7m sq ft in Q1 2016, an increase of 16% on the previous quarter, according to Savills. The figure is 24% above the long-term average of 5.6m sq ft. Four deals totalling more than 500,000 sq ft took place in the first quarter of the year, compared with eight deals of that size in the whole of 2015.
L&G appoints housing director
Legal & General Capital has appointed James Lidgate as director of housing. In his role he will seek to increase L&G’s exposure to the UK’s residential sector and look after the group’s strategic land assets, regeneration-led housing activities and build-to-rent sector investments.
LaSalle to fund Brum PRS
LaSalle Investment Management has struck a £100m forward-funding deal with Manchester-based property company Nikal for its Birmingham PRS scheme Exchange Square. Subject to consent, work will start on site this summer. More than 600 city centre flats in a trio of buildings of eight, 15 and 26 storeys will be built.
Lords back Housing Bill changes
The House of Lords has voted in support of two amendments to the Housing and Planning Bill. One would force starter home buyers to repay the 20% discount they receive if they sell during the 20 years after they buy the property, the second would allow councils to choose how many starter homes are built in their area to ensure affordable housing was available to those on low incomes.
