Here’s a wrap-up of some of the most popular stories on EG from the past week.
WeWork has named Cushman & Wakefield tri-state chairman John Santora as its new chief executive, as it emerges from its Chapter 11 bankruptcy plan. Santora said: “I firmly believe that flexible work is no longer just an option, but rather a strategic imperative for companies wanting to maximise the efficiency of their real estate footprint, as well as their dynamic workforce… I could not be more confident in our future and I am energised and excited by the challenge that lies ahead.”
WeWork appoints new chief and exits Chapter 11 bankruptcy
Industrious takes over WeWork’s New York HQ
Cubo first to snap up WeWork site with Manchester acquisition
Steven Bartlett has taken a new headquarters in London’s Shoreditch for his podcasting business, best-known for Diary of a CEO. Bartlett’s Steven Bartlett Ltd has taken 23,000 sq ft at a warehouse redevelopment to turn into a studio and office.
Steven Bartlett signs for new Shoreditch HQ
Gamuda Berhad and Castleforge Partners have secured planning approval for a major redevelopment of Deutsche Bank’s former UK HQ at 75 London Wall, or Winchester House. Michael Kovacs, founding partner at Castleforge, said: “In order to bring workers back into the office, occupiers will increasingly look for spaces that set them apart from their competitors. We never bought the idea that office working was ‘dead’ and so it is proving as people flock back to central London.”
Castleforge and Gamuda gain consent for 75 London Wall revamp
BlackRock has become a major shareholder in GPE after taking a sizeable share of its £350m rights issue. The company said BlackRock subscribed for 1.2m shares in the placing for £4.08m, and that funds linked to BlackRock now hold more than 10% of its shares, making the fund manager a “substantial shareholder” and “related party” under listing rules.
BlackRock buys into GPE rights issue
GPE closes £350m rights issue
CLS has sold a pair of assets for a total of £10.7m, offloading the Aqueous II office building at Aston Cross Business Park in Birmingham and an office block in Hansastrasse, Dortmund.
CLS offloads Birmingham office block
Other stories you might have missed:
The election? ‘It’s all about planning’
Labour vows to scrap business rates in manifesto
Conservative manifesto pledges to scrap nutrient neutrality rules
Are real estate’s false dawns coming to an end?
What makes an inclusive city?
Drum plans 391-home resi tower in Leeds
Date set for votes on controversial London office towers
Long Harbour targets £750m fundraise for PBSA platform
For your listening pleasure from EG’s Property Podcasts
Dealmaker of the Month: Kaine Arkinson, Shepherd Commercial
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