MORNING NEWS: British Land nears all-clear for London logistics project

Good morning. Here’s your daily round-up of the latest news and views from EG and a collection of real estate-relevant headlines from the national papers. British Land is close to getting planning approval for its next urban logistics scheme, close to London’s Old Kent Road. Planning officers at Southwark Council have recommended the go-ahead for the project at 6-12 Verney Road, SE16. The development would see British Land demolish the existing buildings replace them with a block of up to four storeys. Hammerson has filed plans with Birmingham City Council to redevelop the Bull Ring Indoor Market. The site of one of the largest fish markets in the UK will be demolished to make way for a 656,000 sq ft mixed-use scheme. The proposed plans include 16,000 sq ft of commercial space and up to 745 homes or 1,544 student bedrooms and associated communal student facilities across two buildings. Liverpool City Council’s planning committee has unanimously approved Capital & Centric’s transformation of the 1930s former Littlewoods Building. The proposals, created by architect shedkm, span 270,000 sq ft, featuring two 22,000 sq ft studios along with office space, four cinema screens, performance space and a food hall. Capital & Centric will also restore and repurpose a clock on the iconic tower, which has been temporarily removed due to safety issues. Enabling work on the £70m project has already started and a search for contractors for the main restoration works began last month. Colliers has extended the management services agreement with chairman and chief executive Jay Hennick to 1 January 2029. The agreement was due to expire in April 2026. The agency said Hennick had been “instrumental in shaping Colliers”, adding: “Under his leadership, the company has expanded operations globally, diversified its business adding new growth engines while increasing recurring earnings to 70%.” The firm has also created a new performance-based long-term incentive plan that ties a “significant proportion” of Hennick’s compensation to the achievement of certain market capitalisation-based growth targets. For the full amount of the units to vest, Colliers’ market capitalisation would have to roughly double to $12.3bn (£9.3bn). There’s also a look inside Patrizia’s new London HQ; mounting losses at Legal & General’s failed foray into modular housing; and a resi record at Allsop’s latest auction.  All of the news from EG, plus a selection of headlines from the nationals:British Land set for sign-off on Southwark logistics schemeJohn Lewis Partnership appointed to manage Birmingham BTR blockFrom club to hub: inside Patrizia’s new UK HQShould property companies scrap 9-5 to survive?Losses mount at L&G modular businessPlans in for 355-home Stratford High Street BTR schemeDTZ looks to offload Gloucestershire industrial estate for £41mCanary Wharf Group launches Eden DockEG Future Leaders: People at the heart of the UK propertyNorwich’s Castle Quarter up for sale for £23.5mEdinburgh Council seeks development partner for £71m housing schemeLiverpool gives nod to Hilton’s first Motto hotel in the UKTilia and Hopkins union aims to deliver 2,000 homes a yearColliers extends CEO’s contractHammerson files plans for Bull Ring market redevelopmentCapital & Centric cleared to kick off £70m Littlewoods Building revampMidlands prime industrial rents set to rise, forecasts BidwellsPlans revealed for Manchester chapel-to-resi conversionHetherley checks in with 10-year lease on Bucks Ibis Budget hotelBattersea’s head of planning and public affairs powers down after 12 yearsDigital marketing group signs for Sun Venture’s One New Oxford StreetBauMont and YardNine seal more prelets at EdenicaFisher German makes 53 promotionsTPG buys German energy firm in €6.7bn dealBLME loans £8.2m for Bayswater and Pimlico resi schemesEvery little helps as AY makes sustainability hire from TescoHearthstone joins Future Homes Hub in net zero driveDPD to take delivery of new logistics hubM7 and Centerbridge enter European industrial outdoor storage sectorLondon development opportunities help Acuitus raise £28mSwiss Life boosts leadership team with non-executive chair appointmentAllsop sets residential record with September saleM7 and Centerbridge enter European industrial outdoor storage sectorSix local authorities pool property holdingsAnger over Soho House boss’s ‘grotesque’ Cotswolds home plan (£)Mulberry rejects takeover offer from Mike Ashley’s Frasers Group (£)Mark Carney warns net zero will mean ‘significant’ stranded property assets (£)Business owners look at leaving UK over prospect of capital gains tax rise (£)Ireland hits wealthy with mansion tax (£)