Good morning. Here’s your daily round-up of the latest news and views from EG and some real estate-relevant headlines from the national papers.
This week’s big interview is with Artem Korolev, founder and chief executive of life sciences developer Mission Street.
Korolev and his team are focused on urban opportunities, and the chief exec talks EG through lessons from its Oxford schemes.
“We will transform the way this works,” he says. “We are developing science within the city. If you look internationally, that is very much the emerging trend that has been going on in the US and in Europe, and we are seeing the early stages of it in the UK.”
Planning officers at the City of London Corporation have recommended approval for a scheme that would turn a mile-long series of tunnels into a new leisure offering.
The London Tunnels wants to turn the Kingsway Exchange Tunnels into a £220m tourist attraction, complete with two exhibition spaces, the deepest bar in the UK and retail facilities.
The plans will need approval from the City of London Corporation at one end of the project and Camden Council at the other. The City Corporation will vote on the scheme next week.
And in this morning’s listed real estate news, housebuilder Bellway said it should be back in growth mode in its 2025 financial year. In a trading update covering the period from 1 February to 2 June, the company said it had seen stronger trading during the spring, with better reservation rates and improved “customer confidence”.
All the news from EG, plus a selection of headlines from the nationals:
Mission Street on moving science to the heart of the city
Bellway eyes path back to growth
Home REIT appoints new non-exec
UKREiiF panellists tackle the roadblocks holding back progress on infrastructure
Secret London tunnels project set for Square Mile sign-off
Next phase of Cheshire’s Ledsham Garden Village blossoms
Schroders boss’s guide to green shoots
Ex-Gym Group property boss to drive McDonald’s London expansion
Changing perceptions: construction is not just a bunch of men working on a site
CBRE shuffles Northern leadership team
Boxpark to regenerate Camden’s Buck Street Market
Distribution firm signs for new Scotland base
Property fund outflows finally slow
Britain’s local authorities see budget shortfall of £6.2bn (£)
UK construction sector records fastest growth in two years
UK rental growth drops back in spite of strong demand from tenants (£)
The history of the Grosvenor Group – the Duke of Westminster’s vast inheritance
Champs-Élysées ‘store wars’ spotlight luxury groups’ global race for prime real estate (£)
Labour woos homebuyers as the Tories pledge to help families (£)
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