Read this morning’s papers: Dalian Wanda drops purchase of Nine Elms Square/Shaftesbury buys Berwick Street properties

News

Helen Ozolins

22 August 2017

Dalian Wanda withdraws from Nine Elms Square purchase (Bloomberg/FREE)
China’s Dalian Wanda has withdrawn its interest in purchasing London’s Nine Elms Square.

Shaftesbury pays £38.5m for Berwick Street properties (The Times/£)
Shaftesbury has paid £38.5m to PMB Holdings to acquire a long-leasehold interest in various Berwick Street properties.

Housing developers asked to incorporate exercise options (The Telegraph/FREE)
NHS England is calling for new developments to incorporate incentives for healthy living.

HC-One’s chairman warns care homes teetering on the edge (The Times/£)
Chai Patel, chairman of HC-One, has warned of care homes teetering on the edge and the risk of catastrophic failure due a funding shortfall.

Commuting into London may be more expensive than living there (The Daily Telegraph, p. 21)
The narrowing of the gap between house prices in London and those in commuter towns around the capital, combined with the high cost of annual rail tickets, could mean commuters would be better off living in London.

Small construction companies face cashflow crisis (The Times/£)
Small construction companies face an unsustainable cashflow crisis, a group that represents many such companies, the Specialist Engineering Contractors’ Group, warns.

£700m rescue deal for Co-op Bank (The Independent/FREE)
A £700m rescue deal for Co-op Bank has been agreed that will leave the bank in the ownership of five US hedge funds and reduce the Co-operative Group’s stake to just 1%.

Lixil to sell Permasteelisa to China’s Grandland (FT/£)
Japan’s Lixil has agreed the €467m sale of Italian construction company Permasteelisa to China’s Grandland.

In the news this morning, Dalian Wanda has confirmed it will not buy London’s Nine Elms Square. The announcement comes just days after China announced tighter restrictions on overseas investment, including within the real estate sector. Shaftesbury has acquired long leaseholds on a number of Berwick Street properties, and now has around half of the frontages on the street. Its boss confirms it would be interested in buying more, but that such properties are rarely available. New homes could soon come with free bikes, cheap gym membership and access to obstacle courses and sprinting tracks if NHS England has its way. Dalian Wanda withdraws from Nine Elms Square purchase (Bloomberg/FREE) China’s Dalian Wanda has withdrawn its interest in purchasing London’s Nine Elms Square. Shaftesbury pays £38.5m for Berwick Street properties (The Times/£) Shaftesbury has paid £38.5m to PMB Holdings to acquire a long-leasehold interest in various Berwick Street properties. Housing developers asked to incorporate exercise options (The Telegraph/FREE) NHS England is calling for new developments to incorporate incentives for healthy living. HC-One’s chairman warns care homes teetering on the edge (The Times/£) Chai Patel, chairman of HC-One, has warned of care homes teetering on the edge and the risk of catastrophic failure due a funding shortfall. Commuting into London may be more expensive than living there (The Daily Telegraph, p. 21) The narrowing of the gap between house prices in London and those in commuter towns around the capital, combined with the high cost of annual rail tickets, could mean commuters would be better off living in London. Small construction companies face cashflow crisis (The Times/£) Small construction companies face an unsustainable cashflow crisis, a group that represents many such companies, the Specialist Engineering Contractors’ Group, warns. £700m rescue deal for Co-op Bank (The Independent/FREE) A £700m rescue deal for Co-op Bank has been agreed that will leave the bank in the ownership of five US hedge funds and reduce the Co-operative Group’s stake to just 1%. Lixil to sell Permasteelisa to China’s Grandland (FT/£) Japan’s Lixil has agreed the €467m sale of Italian construction company Permasteelisa to China’s Grandland.