In the news this morning, a £430m refinancing deal agreed by shopping centre owner New River will cut the cost of its debt and give it greater flexibility. The Thames garden bridge project is being shelved, with the trust blaming a lack of support from the mayor. Costs for the project have ballooned, to an estimated £200m from £60m initially. Dalata has agreed the sale and leaseback of Birmingham’s Hotel La Tour with Deka.
New River agrees £430m refinancing (The Telegraph/FREE)
New River has agreed a £430m refinancing deal, a move aimed at reducing the cost of its debt.
Thames garden bridge project dropped (Bloomberg/FREE)
The plan for a garden bridge project across the Thames has been dropped, with the Garden Bridge Trust saying it would be formally closed after current London mayor Sadiq Khan withdrew Greater London Authority support for it earlier this year.
Dalata agrees sale and leaseback deal with Deka for Birmingham hotel (The Times/£)
Dalata has agreed a sale and leaseback deal with Deka for Hotel La Tour, a hotel in Birmingham that it paid £31m for in July.
Stamp duty’s cost to the economy (The Telegraph/FREE)
Stamp duty is having a negative effect on the economy, potentially costing it £9.28bn, according to the Adam Smith Institute.
Corbyn on housing (The Guardian/FREE)
Housing should be about homes for the many, not investment opportunities for the few, Labour party leader Jeremy Corbyn told a rally.
Sainsbury’s puts bid for Nisa on hold (The Times/£)
Sainsbury’s is putting on hold a potential bid for Nisa due to concerns about how the Competition and Markets Authority might view such a bid and the regulator’s initial views on Tesco’s offer for Booker, according to people with knowledge of the matter.
Standard Life and Aberdeen Asset Management complete merger (FT/£)
Standard Life and Aberdeen Asset Management completed their merger, with shares in the new company, Standard Life Aberdeen, enjoying their first day of trading.
