Good morning. Here’s your daily round-up of the latest news and views from EG and a collection of industry-relevant headlines from the nationals, all perfectly curated to set you up for the day ahead.
Compliant applications are set to be waived through planning as part of a major overhaul of the nation’s planning committees. Deputy prime minister Angela Rayner announced the plans – days before the response to consultation on the National Planning Policy Framework is expected – in the hope to that it will tackle “chronic uncertainty, unacceptable delays and unnecessary waste of time and resources”.
The measures would see a national scheme of delegation introduced, the creation of streamlined committees for strategic development and mandatory training for planning committee members.
The proposals have been widely welcomed by the real estate sector.
Sam Bensted, assistant director of policy (planning & development) at the British Property Federation, said: “This will not only speed up the determination process and empower planning officers to use their professional judgement, it will also free up elected members to focus on the most significant planning applications.
“It is also encouraging to see a commitment to extra training for planning committee members, which we hope will lead to a higher quality of debate and decision-making on applications which are brought to committee. It will be important that councillor training is well-rounded, encompassing all forms of housing and commercial uses, and not just training on planning, but also the wider economics of development.“
A speeded up planning system will be welcomed by Singaporean investor Hoi Hup, which is preparing to make its development debut in London. After assembling a 1.4-acre site in Midtown over the past six years, the investor has submitted plans for a Make Architects-designed scheme, offering some 370,000 sq ft of best-in-class office space. The firm will demolish the existing 250,000 sq ft of workspace to make way for the scheme.
Wong Swee Chun, chairman of Hoi Hup Realty, said: “We see the potential of this strategic site in Midtown London and believe that our best-in-class landmark development will greatly reinvigorate the community and the neighbourhood.”
Elsewhere, GPE is getting in the festive spirit with its latest letting. The firm is moving existing tenant Heineken from its Elsley House office into freshly refurbished space at Wells&More in Fitzrovia. The beer giant has signed a 10-year lease on 17,000 sq ft and will move in early next year.
“As the UK’s largest pub, cider and beer company, it’s really important that we have an exceptional office space in central London, that reflects the personality of our business and our collaborative ways of working,” said Heineken UK managing director Boudewijn Haarsma, adding that the new space would, of course, have a bar.
Rob Russell-Smith, senior portfolio manager at GPE, said the deal was further evidence how “strong customer relationships, combined with a flexible, well-located portfolio, allow us to work together with our customers to meet their requirements as they evolve”.
All of the news from EG, plus a selection of headlines from the nationals:
Heineken pours into GPE’s Wells&More
Picton offloads office-to-resi asset
Hoi Hup plans 370,000 sq ft Holborn development debut
Oakley Capital lands at Sixty Sloane
Wellington Place to get sustainable makeover
Hortons offloads Wolverhampton retail parade to Tri Capital
Mayor urged to step in on London markets
Enfield chief executive steps down
Government unveils major overhaul of planning committees
National deals round-up
Greystar gets green light for 800-home Croydon scheme
Avison Young makes senior hires in key regional markets
Stellar checks out of Folkestone Holiday Inn
Hurst & Hurst secures funding for rare New Forest resi scheme
AshbyCapital signs slew of tenants at Paisley and Swansea retail parks
£135m Milton Keynes BTR scheme gets go-ahead
House prices have risen twice as fast as wages since 2000 (£)
Euston HS2 project costs to rise to more than £7.5bn (£)
China Evergrande liquidators put founder’s private jet up for sale (£)
Activist investors call on Macy’s to hive off real estate properties (£)
Property mogul Nick Candy defects from Conservatives to become Reform fundraiser
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