Croydon Council has asked the government for a £540m bailout after a string of disastrous property investments left it mired in £1.6bn of debt.
Meanwhile, SEGRO’s David Sleath has called for the planning system to be overhauled and warehouse space to be considered at a national level.
The UK’s financial regulator is looking at ways to improve liquidity management in the country’s £11tn asset management industry.
Bosses of small companies are increasingly upbeat about their prospects, but still not as optimistic as they were before the pandemic.
And more than nine out of 10 UK companies that trialled a four-day working week over the past six months have said they will continue to use it.
In other news, Safestore has reported a 9.4% rise in revenue for the first quarter, with UK revenue up 4.3%.
Springfield, Scotland’s only listed housebuilder, has posted an 85% increase in revenue for the first half of its financial year, but profit is down 5%.
Israel’s Fattal Group has bought the 201-bedroom, five-star Grand Hotel in Brighton from the billionaire Weston family’s Wittington Investments for £60m.
Quorum has secured forward funding from Greater Manchester Pension Fund for an industrial scheme in Altrincham.
JLL has hired CBRE’s resi head John Coddington as head of residential for its property and asset management team.
Bericote Properties has sold the 150,000 sq ft Alpha Park in Southampton to Leftfield Advisors for £26.1m.
And plans have been approved for a second Swailes SuperLab in Oxford’s Hollybush Row.
US climate change start-up Watershed is planning to open a dual HQ in London, while a quantum computing company – Quantum Motion – has raised £42m to triple the size of its London HQ.
Australian-owned Mexican fast-food chain Zambrero has raised £143m to open more restaurants in Britain and Ireland.
And Pandora plans to open more boxes this year, with 10 more UK stores in the pipeline.
Fenway Sports has said Liverpool FC will not be sold, ending months of speculation.
And finally, levelling up secretary Michael Gove popped up to Aberdeen again during the recess. That can only mean one thing: cue the dancing.
