MORNING NEWS: CBRE to market leftover TGI Fridays sites

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. CBRE has been appointed to dispose of the 35 TGI Fridays sites not rescued from administration. Breal Capital and Calveton, owners of restaurant group D&D, have agreed to buy the American-themed chain, taking on 51 of its 86 locations. CBRE will now seek takers for the remaining properties. The City of London Corporation is looking to sell its mixed-use Mansell Court asset for more than £10.8m. Single-let to United Insurance Brokers, which has recently served a break notice, the building is set to be vacant by September 2025. As well as being refurbished, the building could be repositioned as a hotel, student accommodation or residential. General Projects has added four hires to its team and promoted others as it seeks to grow the business and expand into new sectors including hotels and homes. Founder and chief executive Jacob Loftus said: “The General Projects mission will always be about continuing to champion the creative reuse of underused assets, but we are excited to move into the next phase of the brand by building out our sector expertise from workplaces to hospitality and residential projects. It’s an exciting time for us.” And ARC has signed European pharmaceuticals firm Norgine at the second floor of Building 01 at its ARC Uxbridge scheme. The 10-year lease covers almost 24,000 sq ft of recently refurbished workspace and signed at £38 per sq ft. There’s also news on one of Life Science REIT’s tenants downsizing its space with a new lease; fresh faces on Colliers’ retail team; and a new build-to-rent platform launched by Royal London Asset Management Property.  All of the news from EG, plus a selection of headlines from the nationals:General Projects strengthens team as portfolio tops £2.5bnAvison Young hires London project management headCBRE appointed to sell leftover TGIsCity of London looks to sell office as repositioning opportunityPharma firm settles at ARC UxbridgePro Cam downsizes at Life Science REIT campusHammerson wraps up refinancingsShepherd herds 24 Scottish lots to auctionCity & Country gets £25m backing for Essex resi schemeBirkenhead regeneration gets £51m investment boostColliers bolsters retail team with new appointmentsBicester Arc expansion gets the green lightInsurer snaps up suite at Manchester’s Fountain StreetLeeds’ Central Square changes hands in largest deal since 2019Local government pension scheme launches £1.2bn real estate fundAshley adds a further 1m sq ft to growing property portfolioGreystar secures £600m for 1,600-home resi scheme in BermondseyRLAM launches BTR platformOpen storage rental growth significantly outpaces prime industrialRICS announces new governing council membersBuild cost error to cost Vistry £115mCandy teams up with Modon for UAE ventureGovernment to intervene in planning decision for film studio near LondonVistry shares plunge after UK housebuilder issues profit warning (£)Cheaper ‘HS2-light’ line beyond Birmingham considered by ministers (£)Business confidence dented by fears of higher taxes in budget (£)