EG’s must reads: 19-23 August

Here’s a wrap-up of some of the top stories on EG from the past week. The former House of Fraser department store in Guildford is up for sale for less than a third of what it changed hands for 15 years ago. Canada Life bought the seven-storey building at 105-111 High Street  from British Land for £31.5m in 2009. Now Green & Partners is marketing the site as a redevelopment opportunity – potentially build-to-rent – for offers over £10m, reflecting a capital value of £53.95 per sq ft.
Guildford House of Fraser up for grabs for £10m Real estate agents are weighing up how the growth of artificial intelligence is likely to affect the office leasing market on two fronts – not only what it will do to occupier demand as businesses adopt it, but also what AI firms themselves will need in terms of space. We looked at what the teams at Savills, CBRE and Newmark see happening in an evolving market.
Office leasing agents hope for AI gains A rush of deals in London’s Square Mile means the capital’s office leasing market has posted its highest number of quarterly deals since Q3 2023, with 489 businesses signing new leases. The City swept up 54% of leasing deals in the second quarter, according to Devono, raking in a total of 1.7m sq ft of leases, a third more than in the previous quarter. Tech-focused tenants drove demand, and accounted for two of three “mega deals” for more than 100,000 sq ft.
City leads London office leasing surgeLondon office demand hits record high for third consecutive quarter CBRE surveyed more than 750 Gen Z and Millennials across the UK on their workstyle preferences and found the majority enjoyed having an office to work in. Both groups cited team interaction, location and a dedicated workspace as the top three reasons they wanted to be in the office. But in terms of leadership goals, aspirations differed based on gender, with a higher proportion of men than women wanting to become leaders at both business department and C-suite level.
Next gen wants the office and the top job, finds CBRE Big expansion plans for two household high street names. Waitrose is ramping up investment in its store portfolio with plans to open as many as 100 convenience shops across the UK over the next five years, while McDonald’s plans to invest £1bn in more than 200 new restaurants by 2027.
Waitrose plans 100 new store openingsMcDonald’s to open 200 new UK restaurants by 2027 Other stories you mustn’t miss:

 US fried chicken brands hatch best-laid plans for UK growthMammoth Whitechapel life sciences cluster lined up for approvalRayner urged to reject M&S Marble Arch plansYork’s Green Park Business Centre revamp approvedDesmond’s £1bn Westferry Printworks resi revamp recommended for approval

Beauty platform operator moves in at Helical’s TowerNew owner has third try at Bristol office-to-resi playSingaporean investor buys Soho office in £35m London debut