MORNING NEWS: London’s latest legal letting

Good morning. Here’s your daily round-up of the latest news and views from EG and a collection of real estate-relevant headlines from the national papers. International law firm Reynolds Porter Chamberlain is closing in on a deal for a new London headquarters at Aviva Investors’ 101 Moorgate, EC2. The under-offer letting is the latest in a rush of legal firms snapping up space. EG revealed in February that the firm had appointed RX London to find it a new 70,000 sq ft base in the capital, with its lease at Tower Bridge House ending in 2027.  Allsop has formed a partnership with debt advisory firm Empire Global Finance, in its first such arrangement for auctions. The collaboration aims to help bidders in need of short-term finance to move at the swift pace required by auctions. George Walker, Allsop partner and auctioneer, said: “While cash-rich private investors continue to represent the core of our buyer base, we acknowledge the importance of providing access to short-term financing solutions to those who need them, ensuring existing and future investors are able to take full advantage of our commercial and residential auction platform.” Birmingham City Council has deferred a decision on plans for a 317-bed purpose-built student accommodation scheme until the Higher Education Statistics Agency releases student demand data for the 2024/25 academic year. Lavender Property Group’s proposal had been recommended for approval but councillors said fresh data would show whether the development would have enough demand. And property industry charity LandAid is appealing to BTR operators to support its Build to Rent Pathfinder initiative and help to end youth homelessness. The charity is calling on BTR operators to join Grainger and Realstar in pledging homes from across their schemes to be made available at heavily discounted rents. The homes will be used for young people who have previously been supported by charity but are now keen to take their first step towards living a more independent life. There’s also news on a Mile End retail park being brought to market; Broadwood Capital’s latest later-living deals; and a pending approval for Regal’s £125m Camden PBSA scheme.  All of the news from EG, plus a selection of headlines from the nationals:Law firm nears deal for new HQ in the CityAllsop announces financing partnershipL&G and Oxford University get the nod for Begbroke Innovation DistrictPlans for 568-home Salford co-living scheme approvedLandAid calls on BTR providers to help end youth homelessnessBerkeley calls for ‘change of attitude’ to meet housing targetsGlenveagh kicks off €50m share buybackBroadwood Capital loans £13m for brace of later living developmentsElkstone and Harrison Street launch Galway PBSAMile End retail park up for sale with £30m price tagFabrix fills up a further third of Southwark’s Bottle FactorySutton estate regen plans given the go-aheadBirmingham Council delays decision on PBSA schemePlanners back Regal’s £125m Camden PBSA schemeStoford adds Wickes to Leamington’s Spa ParkBlock Workspace takes 21,000 sq ft at Oval’s Fairfax in BristolBrixton market up for saleLambert Smith Hampton names first head of planningIslington clears 30 Finsbury Square retrofitNew debt advisory firm opens its doorsAudley appointed to run Oxfordshire retirement villageUK apartment prices underperform rest of market since 2019 (£)Grenfell Tower design firm blocked from closing down (£)Topshop poised to return to high street (£)New Body Shop owner lines up financing as rescue deal loomsPwC orders staff back to the office three days a week (£)UK construction growth slows despite housing drive, PMI shows (£)Vistry boss: Our affordable homes strategy looks like a winner (£)Hong Kong targets tenants with flash cars over misuse of social housing (£)