News

MORNING NEWS: Google searches for more London office space

News

Piers Wehner

30 September 2020

Good morning.

Despite telling its staff they can work from home for the next year, Google has clearly not lost its taste for London office space(£). The tech giant is in advance discussions to take 70,000 sq ft in King’s Cross and will renew its 160,000 sq ft at Central St Giles.

Others seem to be following Google’s “hybrid” of working from the office and from home, as traffic figures show commutes have actually increased(£) in the last week.

Bullish bosses are also stepping up recruitment(£).

Talking of which…

As St Modwen appoints Centrica’s Sarwjit Sambhi(£) to take over from Mark Allen as chief executive, EG asks: can he reenergise St Modwen?

Ingka Centres has appointed Cindy Anderson as its new MD.

And RICS has made a ‘Wellcome’ appointment, selecting Peter Pereira Gray to lead its valuations review(£).

Several large listed REITs gave up some of the gains made on Monday, with British Land and Landsec both among the FTSE 100’s sharpest fallers.

One of the top risers was value retailer B&M. The value retailer is now planning 45 more stores this year after sales rose more than 20%(£).

The Issa brothers face a competition hurdle(£) as they move in on Asda, in the form of dozens of forecourts close to the supermarket stores.

Burger King is preparing to shut 25 restaurants(£) as it looks to expand its drive-through estate in a bid to compete with its (golden) arch rival.

Mortgage approvals(£) have hit a 13-year high(£). Buyers are rushing to take advantage of low interest rates and the stamp duty holiday.

But buyers are paying too much in their mad dash for properties, according to one report(£).

Meanwhile, a state programme of building affordable homes(£) is being touted as the best way to ensure that Covid-19 does not worsen Ireland’s housing crisis.

Profits at Scotland’s Aim-listed housebuilder, Springfield Properties(£), fell by 38% during the lockdown but are bouncing back.

Despite the dreich, L&Q’s Fiona Fletcher-Smith is upbeat about her busy day juggling work and family from her dining room table ‘office’, in this week’s Lockdown Diaries.

Hong Kong-based property billionaire Pat Sutong(£) is battling creditors, who are forcing him to sell his Kowloon HQ.

The FT (£) has a profile on China’s biggest developer, Evergrande.

And digs in to the Vatican property scandal(£).

And finally, as many of the UK’s students find themselves under house arrest in their student quarters (digs arrest?), St Andrew’s University has taken a different approach. Not only will students be free to go home, they will also be able to cancel any rent agreements(£) if they do so. South of the border students are more likely to be charged more rent, on account of the additional wear and tear to which they are subjecting their garrets.

Good morning. Despite telling its staff they can work from home for the next year, Google has clearly not lost its taste for London office space(£). The tech giant is in advance discussions to take 70,000 sq ft in King’s Cross and will renew its 160,000 sq ft at Central St Giles. Others seem to be following Google’s “hybrid” of working from the office and from home, as traffic figures show commutes have actually increased(£) in the last week. Bullish bosses are also stepping up recruitment(£). Talking of which… As St Modwen appoints Centrica’s Sarwjit Sambhi(£) to take over from Mark Allen as chief executive, EG asks: can he reenergise St Modwen? Ingka Centres has appointed Cindy Anderson as its new MD. And RICS has made a ‘Wellcome’ appointment, selecting Peter Pereira Gray to lead its valuations review(£). Several large listed REITs gave up some of the gains made on Monday, with British Land and Landsec both among the FTSE 100’s sharpest fallers. One of the top risers was value retailer B&M. The value retailer is now planning 45 more stores this year after sales rose more than 20%(£). The Issa brothers face a competition hurdle(£) as they move in on Asda, in the form of dozens of forecourts close to the supermarket stores. Burger King is preparing to shut 25 restaurants(£) as it looks to expand its drive-through estate in a bid to compete with its (golden) arch rival. Mortgage approvals(£) have hit a 13-year high(£). Buyers are rushing to take advantage of low interest rates and the stamp duty holiday. But buyers are paying too much in their mad dash for properties, according to one report(£). Meanwhile, a state programme of building affordable homes(£) is being touted as the best way to ensure that Covid-19 does not worsen Ireland’s housing crisis. Profits at Scotland’s Aim-listed housebuilder, Springfield Properties(£), fell by 38% during the lockdown but are bouncing back. Despite the dreich, L&Q’s Fiona Fletcher-Smith is upbeat about her busy day juggling work and family from her dining room table ‘office’, in this week’s Lockdown Diaries. Hong Kong-based property billionaire Pat Sutong(£) is battling creditors, who are forcing him to sell his Kowloon HQ. The FT (£) has a profile on China’s biggest developer, Evergrande. And digs in to the Vatican property scandal(£). And finally, as many of the UK’s students find themselves under house arrest in their student quarters (digs arrest?), St Andrew’s University has taken a different approach. Not only will students be free to go home, they will also be able to cancel any rent agreements(£) if they do so. South of the border students are more likely to be charged more rent, on account of the additional wear and tear to which they are subjecting their garrets.