Here’s a look ahead to what is happening in the world of commercial real estate this week. Make sure to check back with EG for the full analysis as we deliver your daily news agenda.
Tuesday
Redevco is looking to secure a green light from the local council for the construction of a part-seven, part-eight-storey block of 391 flats on Minerva Street in Glasgow. The scheme also features 7,729 sq ft of amenity space, such as lounge areas, multi-purpose room, dining areas, library, gym, staff rooms, bike stores, roof gardens and external green space.
Wednesday
Vistry Group is expected to update the market on its trading performance over the whole of 2024. Just before Christmas, the company had noted that it expects to report a reduction in profit owing to delays to anticipated year-end transactions and completions.
Retailer Currys will also publish a trading update, having last month said that its performance continued to strengthen. The company currently operates through 715 stores in six countries.
The market will additionally hear from Fuller, Smith & Turner on its performance over recent months. The pub chain operator has been investing heavily into both the improvement of its existing estate and expansion.
The planning committee at Tower Hamlets Council is minded to refuse the redevelopment of a site at Canon Barnett Primary School in Whitechapel amid concerns around the height of the proposed development and the loss of existing ground-level retail spaces. Alliance Property Asia wants to demolish existing buildings on the site to bring forward a 17-storey office block and community hall and expand the existing school.
In addition, the council is expected to make a decision on Ridgeback Group’s proposed residential scheme at 1 Selsdon Way, E14. Planning officers have recommended to approve the demolition of existing buildings on-site and the construction of a 35-storey tower comprising 307 flats.
Ealing Council will be deciding on the delivery of more homes and industrial space in the borough, with a major project on the agenda being brought forward by the council itself, featuring the redevelopment of Gurnell Leisure Centre. The existing facility is expected to be replaced, with additional development of four blocks of flats comprising a total of 300 homes.
Tide Developments is expected to be granted planning permission for a site at The Green in Southall to deliver a new 23-storey building providing 424 student rooms, with shared student amenity, cycle parking and public realm.
Also in the borough, home heating specialist Valor seeks to redevelop an existing industrial site to provide three warehouses, measuring a total of 141,728 sq ft, within Greenford Industrial Estate. Separately, SEGRO is looking to gain permission to build two warehouses, measuring a combined 106,779 sq ft, replacing four old facilities on its Greenford Central scheme.
Thursday
Safestore will deliver its final results for the year ending 31 October 2024 to the market. The storage facilities operator has a development pipeline of 26 stores, totalling 1.3m sq ft, across the UK, Spain, the Netherlands, Belgium and Germany.
Housebuilder Taylor Wimpey is expected to update on its performance, having most recently said that its current order book is growing ahead of last year’s levels. The company is also set to deliver further growth in 2025.
Retailer Dunelm is also scheduled to deliver an update on its performance. Following the acquisition of Home Focus in November last year, the firm said it will now assess new store opportunities across Ireland.
Cherwell District Council is expected to give the go-ahead to the proposed development of an industrial estate at a 7.9-acre site situated to the south of Bicester in Oxfordshire. Albion Land is looking to bring forward three warehouses measuring a total of 128,403 sq ft.
Friday
Newcastle City Council has been recommended to grant planning permission to Balance Power Projects for the delivery of a battery storage facility on land to the south of a former glassworks at Northumberland Road in Lemington. The proposal comprises construction of 28 storage containers and 14 transformers on a 2.9-acre site.
EG’s must reads will be live, wrapping up the news from the week, making sure you stay ahead in the world of commercial real estate.
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