EG’s most-read and must reads: 26 February-1 March

Here’s a Friday wrap-up of some of our most popular stories from the past week. We published the EG Radius Leaderboards for 2023, and CBRE has topped the national podium, stealing a lead over rivals JLL, Cushman & Wakefield, Knight Frank and Savills. CBRE also put in a strong showing in the sector leaderboards, topping the office and industrial rankings. Savills led the retail ranking, while Christie & Co held on to its top spot in hotels and leisure.CBRE tops 2023 annual agency leaderboards  Avison Young has defaulted on a $325m (£256m) senior term loan, missing principal and interest payments over the last two quarters. AY is understood to have fully expected the downgrade, as it has been in talks with its lenders to restructure its debt. UK boss Nick Walkley told EG’s Samantha McClary of the restructuring: “This was the biggest and most significant part of the jigsaw puzzle. Now we can focus on growing the business and getting on with the job.”Avison Young defaults on $325m loan‘It’s time to start growing the business,’ says AY UK boss  Change is afoot at Grosvenor’s UK property business, which is merging its investment and development teams and bringing the enlarged division under the leadership of Rachel Dickie. The company is bringing the teams together to better support its regional investment and development strategy, with holdings that include the Liverpool One shopping centre and a 500,000 sq ft regional office portfolio.Grosvenor restructures UK property team As agency earnings season ends, JLL posted flat revenue and a loss of $194.1m. Chief executive Christian Ulbrich said the results reflected “strong growth within our resilient business lines in the face of the market-wide pullback in transaction activity and elevated geopolitical uncertainty”.JLL full-year earnings plummet as revenue stays flat JLL preps for bigger deals to return  Law firms are hunting for more than 1m sq ft of London office space, eclipsing last year’s total take-up by over a quarter. EG’s Chanté Bohitige crunched some exclusive numbers from Knight Frank and revealed some of the big mandates that agents and landlords will hope to bag.The latest law firms on the lookout for London offices  Other stories you might have missed: Primera’s Ruth Duston on two decades of business improvement districts Hammerson’s Gagné readies to flex some muscle TikTok strikes deal for temporary London HQ Canary Wharf Group makes £84m affordable housing deal Stanhope and Mitsubishi plan revamp of tired Westminster office block Trio of malls come to market  For your listening pleasure from EG’s Property Podcasts: