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.
We kick off the week with an exclusive interview with CBRE chair and chief executive Bob Sulentic.
Three years after the agency bought a majority stake in project manager Turner & Townsend, Sulentic is ready to spend more.
“We see a lot of opportunity for growth across multiple dimensions of project management, cost consultancy, programme management,” Sulentic tells EG.
“We have got a lot of capital to invest in direct growth. In the last year we probably invested about $1.5bn-$2bn (£1.1bn-£1.5bn). We want to push capital into this business to do acquisitions, if they are available.”
As real estate works out what the sector faces in a new Labour government, EG spoke with the parties behind four masterplans singled out by chancellor Rachel Reeves as “stalled”.
When Reeves said the government will form a task force to “accelerate stalled housing sites”, she pointed to four projects that she wanted the initiative to start with: Liverpool Central Docks, Worcester Parkway, Northstowe and Langley Sutton Coldfield.
The local authorities and developers behind those four schemes – which have the potential to deliver more than 14,000 homes – tell EG the message is “music to our ears”, but add that greater clarity is needed on the scope and breadth of the taskforce.
There’s also news on the Crown Estate’s next £430m trio of West End projects, an all-clear vote at both ends of the London Tunnels, and the first biotech tenant to move to Mission Street and BGO’s Botley Road scheme in Oxford.
All of the news from EG, plus a selection of headlines from the nationals:
CBRE global boss says firm has capital and is ready to spend
‘Music to our ears’: masterplan maestros welcome Labour’s new tune
Locale appoints Roberts as advisory board chair
First biotech tenant moves to Oxford’s Botley Road
Crown Estate lines up £430m of West End schemes
Camden approves London Tunnels project
Proposals for major new Wolverhampton neighbourhood released
Why office-to-serviced apartment conversions could be king
Housebuilders warn construction lag threatens Labour plan to ‘get Britain building’ (£)
UK housing market set for buoyant autumn (£)
LXi Reit founder denies email shows involvement in Home Reit (£)
Property developers gear up for green belt ‘gold rush’ (£)
UK retail property is finally priced for a sale (£)
Hotel Chocolat plans 25 new stores with Mars backing (£)
Malaysia’s king bids to revive Chinese-backed ‘dream paradise’ (£)
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