MORNING NEWS: London flex rents on the rise

Good morning, and welcome to your round-up of news from EG and some real-estate headlines from the nationals. CBRE has crunched the numbers on flex office rents and found that some London sub-markets posted substantial growth in the final months of 2023. But don’t think that makes for an easy market – deal times are still dragging, the agency said, and take-up came in lower than expected. With a takeover race seeming likely for Abrdn Property Income Trust, we look at the reactions from shareholders in the two bidders set to do battle, and API pushes back its meeting dates over its agreed Custodian merger. On which note, here’s EG’s editor Samantha McClary on why M&A is the kind of deal activity getting real estate players most excited at the moment. On the planning front, an application is in for Edinburgh Arena from O2 owner AEG Europe, while the Department for Education wants to turn a former Sony office in Liverpool into a secondary school.  All this morning’s headlines:The London sub-markets where flex rents have rocketedForget capital markets, M&A is where the action isBrum set to give go-ahead for Colmore Gate towerFormer Sony regional HQ to be turned into secondary schoolPlans in for Edinburgh ArenaAPI pushes back Custodian merger meetingsCustodian shares rally after Urban Logistics bid for APISerious Fraud Office arrests four in £140m Signature Living probeUK likely to miss 2030 and 2050 carbon targetsFour-day week improves workers’ wellbeingTrump could have New York properties seizedChancellor plans for 99% mortgage schemeGerman real estate lender hit by short-sellersFrasers accuses Morgan Stanley of “snobbery”