Motive moves to Canary Wharf
Fintech investment firm Motive Partners is to open its first permanent London office at Canary Wharf Group’s Columbus Building, E14. The deal represents the first letting at the refurbished 180,250 sq ft building. The firm has agreed to take the top floor, paying around £50 per sq ft for 13,630 sq ft of workspace and a roof terrace. Knight Frank, GM Real Estate and Savills are leasing agents at the building.
Royal London seeks the Horizon
Royal London is buying the Horizon retail park development in Farnborough, Hampshire, for £39m – a 5.25% yield. The development is under construction but owners Steamrock Capital and Catalyst Capital have secured tenants for the entire park. CWM is representing Royal London; Morgan Williams is advising Steamrock Capital and Catalyst Capital.
Builder readies compensation
Taylor Wimpey has set aside £130m and apologised to customers that were sold homes with rapidly rising ground rents. The housebuilder had been under pressure after customers complained that ground rents doubled every 10 years until the 50th year, in a leasehold structure it used between 2007 and 2011.
Cherry leaves Countryside
Richard Cherry, chief executive of Countryside’s partnerships division, will retire next week after 35 years at the company. He will continue as group new business director until the end of September.
Graham Cherry, chief executive of Countryside’s housebuilding division, will become chief executive of partnerships in the South.
