EG’s most-read and must reads: 4-8 March

Here’s a Friday wrap-up of some of our most popular stories from the past week. Chancellor Jeremy Hunt disappointed the real estate sector in this week’s Budget, with no fundamental business rate reform for the UK’s high streets. But that’s not to suggest there weren’t some surprises, including the announcements that Canary Wharf would receive levelling up funding and that Surrey is set for devolution. Here’s a round-up of the key takeaways for property, the reaction from industry leaders and some thoughts from EG editor Samantha McClary:BUDGET 2024: Key takeaways for real estateReal estate finds little to cheer in BudgetA Budget for business? Oh no it isn’t Agents looking for their next big score could do worse than cosy up to PwC. The accountancy firm is in the early stages of exploring new options for its London office space. A request for information has been issued to agencies to advise it on the future of its office portfolio in the capital. In London, the firm has offices at 1 Embankment Place, WC2, and 7 More London Riverside, SE1. Its leases aren’t up until the 2030s, a spokesman noted, but given the capital’s supply-demand dynamics, better to be prepared.PwC preps new London office hunt Nearer to sealing a deal is Invesco. The US investment manager is close to closing a 15-year lease for more than 41,000 sq ft at LaSalle Investment Management’s 60 London Wall, EC2 – a signing that would see it shift its London operations from the West End to the Square Mile.Invesco nears new London office deal Plenty of promotions worth celebrating this week: Savills lifted 359 members of staff across the UK, while BNP Paribas Real Estate promoted 80.Savills promotes 359 UK employeesBNP PRE announces 80 UK promotions And more woes for WeWork. As losses mount for the group, EG revealed this week that the next London site to close is 22 Long Acre, where the co-working company has already told tenants they will need to move out. Landlords left with space on their hands might want to put a call in to InfinitSpace, a start-up run by a former WeWork executive that already has a track record of taking on the company’s vacated space.WeWork in talks to exit City and West End officesWeWork loses $153.7m in JanuaryMeet the flex start-up picking up ex-WeWork offices Other stories you might have missed: Regional developer looks to shake up co-living marketCounting the carbon cost of Cat A fit-outsFrom sheds to science: Prologis readies next Cambridge lab schemeDelancey to transform King’s Cross industrial site into labsFormer intu SGS shopping centres to undergo £445m recapitalisationGLA launches fresh search for Royal Albert Dock partnerFun and games: Landsec to lift leisure at Square Mile shopping centreBuyer sought for Paddington’s Sonder Voyage hotelRoxy Ball Room tees up first London site For your listening pleasure from EG’s Property Podcasts: In on the Act: Daniel Black discusses differences between English and Scottish lawVoice of the Region: Glasgow – Captain of industry Photo © James Veysey/Shutterstock