MORNING NEWS: Landsec offices boss talks winning workplaces

Good morning, and welcome to your Thursday round-up of news, views and interviews from EG, plus some real estate-relevant stories from the papers. This week, Landsec got the go-ahead from the City of London Corporation for a second office development inside five months. EG spoke with the REIT’s head of offices, Oliver Knight, about the Hill House scheme, what it takes to make a best-in-class office and the importance of planners and developers showing that London remains open for business. Equally as keen to ensure it is driving the capital forward is GPE, which this morning said it has committed to its next office development in what it calls a “supply starved” market. It expects to deliver the new Minerva House by the end of 2026. Savills sees some reason for optimism in the dealmaking market, at least in the West End. The agency recorded 25 deals for a combined £1.02bn during the first three months of the year. That compares with 12 transactions and £675m in the same period a year ago, although is still below the five-year average for both volume and number of deals. Director Paul Cockburn says there have been “micro-signals of the mood turning”.  In listed real estate news, AIM-listed Lok’nStore has agreed to a £378m takeover by self-storage giant Shurgard. Finally, a reminder: you have two weeks until the deadline for this year’s EG Awards. It’s the 20th anniversary and will be a party to remember – if you want to join the celebrations, head here for details of the categories and how to enter. All the news from EG, plus a selection of headlines from the nationals:Editor’s comment: The solution to equity lies in capital marketsLandsec’s offices boss on his faith in the Square MileBTR Bee Portfolio to set Manchester market abuzzShurgard to buy Lok’nStore in £378m dealHomes England picks Bellway for 135-acre Aerodrome siteGPE commits to development in ‘supply starved’ office marketResi construction starts drop by 27%Army & Navy Club neighbour up for saleReal estate still the most distressed European sectorGreystar set to sign £200m Manchester PBSA dealWeWork hires new auditorSavills sees ‘signs of improvement’ in West End investmentInvestorFlow buys real estate software business CoyoteLGIM shareholders approve property fund rejigMaya Capital buys prime Fulham Road retail spaceUnispace Group appoints new EMEA bossTOG’s Kappes joins flex-focused TechnologywithinMixed fortunes as decline in capital values slowsBanksy exhibition moves to former WeWork siteSouth East office investment volumes slump in Q1CBRE IM pays £55m for Manchester BTR schemeBTR investment falls 63% in Q1 2024DeVono launches managed office business with ex-WeWork directorMulti Corporation returns to UK with Realm stakePlans in for office tower in Manchester’s Northern QuarterNod for Blackpool Council’s £65m multiversity schemeRoyal London names life sciences bossLateral tables Cavell Street lab plansBlackstone splashes out on Britain’s most expensive retail street (£)Heavy debt burden puts pressure on Slug & Lettuce pubs owner (£)American inflation update proves too hot for property sector (£)UK estate agents report third consecutive monthly rise in demand (£)US licence partner OSL eyes Ted Baker’s UK arm