Here’s a wrap-up of some of the most popular stories on EG from the past week.
Thought the office was dead? HQ moves by big banks and growing demand to set up shop in the Square Mile have taken financial services office leasing deals in London to their highest level in more than a decade, according to a new report from DeVono.
Financial firms take London office leasing to decade-plus high
The WFH versus office debate isn’t done yet
WeWork is preparing to reopen the doors at a revamped Soho office, a sign of its commitment to some of its London sites, even as others are shuttered.
WeWork readies refurb at Soho site
More than £1bn of office, industrial and retail warehouse assets could change hands as a result of Balanced Commercial Property Trust’s strategic review. The REIT said it faces “significant challenges” in the market and has kicked off a review that could see it sell its portfolio, change investment strategy, wind down the business or sell the company.
The assets up for grabs as BCPT hoists ‘for sale’ sign
BCPT up for sale amid ‘significant challenges’
Drama continues at Home REIT, the troubled investment firm set up to buy accommodation for the homeless. This week the REIT said it is readying legal action against its former investment manager, issuing pre-action letters of claim to Alvarium Fund Managers (UK) as well as and AlTi RE, its former investment adviser’s appointed representative.
Home REIT to take action against former investment manager
Home REIT offloads more properties at auction
Second time lucky. CLS Holdings has secured a sale of its Westminster Tower at 3 Albert Embankment, SE1, to London Square for £40.8m. The sale is the second attempt to offload the office building by CLS, which was forced to abort a disposal to Australian investor Third.i earlier this year.
CLS tries again with £40m Westminster Tower sale
CLS seeks bids above £100m for Vauxhall PBSA site
Other stories you might have missed:
GPE’s Courtauld on the draw of the office
Low vacancy for London’s best offices drives up rents
Niche is in as investors turn to alternative assets
Dealmaker interview: New rules in tough times
CBRE’s Dakin set to retire
Rapid repricing in UK and Nordics brings opportunities, says Schroders
London investment volumes show signs of recovery
How northern towns and cities can crack the viability challenge
Credit: London From The Rooftops/Bav Media/Shutterstock
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