Good morning.
Here is your AM bulletin, packed with the latest news and views from EG, and a few extra bits from the national press.
June is Pride month. And it should be a time for for the industry to feel pride, writes EG’s editor. But while the results of this year’s LGBTQ+ Attitudes & Actions in Real Estate survey are not terrible, there is still a lot of work to be done – especially in the “laddish” transactions and capital markets teams.
After all, without positive and visible LGBTQ+ role models, writes BNP Paribas’ Mark Capanda, others who identify as LGBTQ+ might not feel comfortable enough to bring their authentic selves to work.
Because while Pride month brings out rainbows, LGBTQ+ people and allies, it also brings out homophobes, writes Tigrou Consulting director Kelly Canterford. “Being an ally is not always comfortable, but it is when it is uncomfortable that it is needed most.”
Santander’s António Simões will take over from Sir Nigel Wilson as Legal & General’s group CEO.
Meanwhile, more than 100 property industry companies have urged Rishi Sunak to put climate change at the heart of the planning process.
And Bestway boss Dawood Pervez wants the planning and rates systems to better support convenience stores.
The Issa brothers are on the verge of selling off a £650m chunk of Asda’s property empire to US investor Realty Income Corporation. If the name seems familiar in this context, its because Realty bought 415 assets from EG Group in March for $1.5bn.
Debt-burdened Woking Borough Council plans to sever ties with its Victoria Square development partner Moyallen, as Bank of Ireland places four of the Northern Irish developer’s vehicles into administration.
Revaluations wiped £91.6m off Custodian‘s portfolio, resulting in a £65.8m loss.
Better news for Rapleys, which has posted record revenue in its latest set of annual results, with revenue up by a third.
And the UK economy, which actually grew – albeit by just 0.2% – in April.
But bad news for private residential renters. No-fault evictions appear to be at a record high, as landlords seek to beat the ban.
