Good morning, this is your AM bulletin with the latest news and views from EG, as well as a few of the best bits from the morning papers.
“If you cut me in half, it probably says King’s Cross and Argent.” EG meets Robert Evans, the man behind the developer’s 67-acre King’s Cross development. But after 23 years with both, the king of King’s Cross is seeking another role – perhaps a promotion to tsar.
Kellogg’s plans to close its Trafford Park factory, where it has been making Corn Flakes since 1938. It says the 27-acre site is only half used and woefully inefficient. Can we say snap, crackle and property opportunity? Coco props?
More than 100 RAAC-riddled schools require rebuilds, the government has said, as it concludes its investigation into the impact of RAAC construction.
Soho House could suffer the same fate as WeWork, according to a new analysts’ report. GlassHouse, which has been building up short positions and put options for the private members club, said the target price for the company should be $0.
And WeWork’s creditors are uncomfortable with the thought of Adam Neumann regaining control of the co-working giant. “He’s late, with very little plan and his timing is abysmal. And we’ve told him that,” one person involved in the bankruptcy proceedings said. “He’s just not hearing it.”
In other news:
Bellway revenue and completions fall by a third
Weston family reaps £37m dividend after property sales
