Investors look to alternatives
European developers are 37% more likely to invest in alternative assets this year, according to PwC and the Urban Land Institute’s Emerging Trends in Real Estate report. Some 65% of respondents in Europe said they were looking at alternative assets in 2016, compared with 28% last year.
Nikal secures £100m PRS funds
Manchester-based propco Nikal has secured £100m funding for its Exchange Square residential scheme in Birmingham city centre. The proposed development is aimed at the private rented sector.
Middle Eastern cash moves out
Private Middle Eastern investors are starting to look beyond prime central London for better value. Over the past 12 months they have been investing in property up to 10 miles outside of the city centre for second homes and investments.
Mayor needs wider strategy
The next London mayor must focus on a wider strategic vision for London and creating the infrastructure for growth, according to experts at MIPIM. Robert Davis, deputy leader of Westminster City Council, said the next mayor needs to be a “strategic figurehead”.
Six shortlisted for Haringey jv
Galliford Try with Home Group, Lend Lease, Morgan Sindall with Circle and Affinity Sutton, Pinnacle with Starwood Capital and Catalyst Capital, Places for People and Urban & Civic have made the long list to bring forward £2bn of development in north London in partnership with Haringey Council.
West End needs polish
London’s West End is Europe’s most attractive retail destination and second to New York globally, but its public realm could be improved, according to the Global Retail Destination Index 2016, produced by Savills.
