MORNING NEWS: Home REIT blames investment adviser
Good morning. Here is your AM bulletin with the latest news and views from EG, and property-related headlines from the national papers.
Home REIT’s former investment adviser, AHRA, allegedly failed to share vital information and may have had conflicting “business interests”, according to an internal investigation by Alvarez & Marsal.
Housebuilders and developers appear to be withholding millions of pounds in donations from the Conservative Party, amid concerns over the government’s attitude to development. One Tory source said: “I think you might struggle to name a developer who is currently donating.”
Good morning. Here is your AM bulletin with the latest news and views from EG, and property-related headlines from the national papers.
Home REIT’s former investment adviser, AHRA, allegedly failed to share vital information and may have had conflicting “business interests”, according to an internal investigation by Alvarez & Marsal.
Housebuilders and developers appear to be withholding millions of pounds in donations from the Conservative Party, amid concerns over the government’s attitude to development. One Tory source said: “I think you might struggle to name a developer who is currently donating.”
Meanwhile, Labour is looking to anger the landowners, with plans to scrap hope values for land bought using CPOs.
And Savills has called the bottom of the market for London’s sheds and offices.
You you can catch up with more on that market in the latest episode of EG Like Sunday Morning, too.
Tens of thousands of public and private sector pension plans should be pooled into £500bn “GB superfunds”, says Tony Blair’s think tank.
Sellar chief executive James Sellar writes in EG about his principles of development. “The future of development should always be about facilitating human accomplishments and ambition, not just to create buildings for the sake of it.”
And while the number of new developments may be falling, the need for sustainable workplaces will help fill the gap, new research has said.
But an overlong payback period means retrofitting of homes has not taken off in the UK, writes Mood and Space founder Hanna Afolabi. This has to change. Retrofitting is not an option but a must-do.
In The FT (£), Goldman Sachs’ Julian Salisbury says we are on course for a big reset, with equally big opportunities. “Experienced investors in property have seen this before… Every story is distinct, but the plots always rhyme.”
A West End theatre producer has been told by a planning inspector to knock down his multi-million-pound seaside home after complaints that it resembles a Travelodge hotel(£).
And finally, John Lewis has been told it should use “bird friendly bricks”(£) at its Bromley housing development. Surely that must be the least of its worries?
