Good morning,
Here is your morning missive, with the latest news and views from EG and a few of the best bits from the national papers.
Berkeley’s Birmingham arm, St Joseph, has been chosen as the city council’s development partner for the 150-acre Ladywood Estate regeneration. An agreement will be signed by the end of the year, which will see St Joseph develop 7,000 homes, create two new parks and transform one of the UK’s largest housing estates.
Meanwhile, the developer has announced a 9.5% rise in profits to £604m and an 8.6% bump in revenues to £2.55bn.
Debenhams’ landlords have been told they will not recover a penny of the cash they were owned when the retailer collapsed. Debenhams went into liquidation in 2020, owing £1.3bn.
Natural England has admitted pollution from new developments is “very small”, despite ordering the halt of 120,000 new homes in the interests of “nutrient neutrality”.
Greystar has bought a 245-home BTR site in Stratford, E14, the second phase of the Pudding Mill masterplan.
As chancellor Jeremy Hunt calls in the banks for urgent talks(£) on the UK spiralling mortgage costs, The FT (£) takes a look at how the bond markets are to blame.
And the cost of renting has hit its highest level in more than a decade, with more hikes to come.
And finally, former London mayoral candidate Shaun Bailey could lose his peerage if fined over a Covid-era party attended by developer Nick Candy. Apparently one of the aspects of the event causing the police to believe the gathering in CCHQ was a party after all isn’t the fact that people were drinking, eating buffet food, dancing or even the invitation that told guests to “mingle and jingle”. Nope, we hear the smoking gun may well be that Candy gave Bailey a present – a Lego set of Trafalgar Square.
