MORNING NEWS: Meet this year’s EG Rising Stars

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. This morning we reveal EG’s Rising Stars for 2024, nine individuals who join the more than 120 Rising Stars in our alumni. These individuals are showcasing the best of the real estate industry, driving change and delivering excellence. Meet them here and read about their achievements so far, inspirations and what they see as the greatest opportunities for the industry’s next generation of leaders. And book your ticket to the EG Awards on 21 November to find out which is crowned our Rising Star of the year. The real estate industry has reacted to yesterday’s release of the Grenfell Tower Inquiry Phase 2 report. The report is the conclusion to the inquiry launched after the 2017 fire that claimed the lives of 72 residents. It highlighted a history of complacency and defensiveness within government departments towards safety, and advocated for a fresh approach to reviewing and revising building regulations, emphasising that safety should be the primary consideration. The property sector is now asking what further steps need to be taken. Ian Fletcher, director of policy at the British Property Federation, said: “Today marks merely another staging point in a heart-wrenching human-tragedy. The results of the inquiry illustrate in graphic detail the systemic failure that Dame Judith Hackitt identified in the aftermath of the fire. “In the years since Grenfell, important steps have been taken to prevent a similar tragedy occurring in the future. The building safety regime for higher risk buildings clearly sets out the requirements for new and existing construction work, which clients in the sector are carefully following. “As the report, however, exposes, another conclusion of Dame Judith’s was that the culture of the construction sector must change and is under close scrutiny to do so. “Progress has been made, but more needs to be done, and clients can play their part in that. Today is not the day to get into the detail of the report recommendations, but on the face of it many seem appropriate, and will have our support.” Our latest Demand Barometer, based on figures from EG’s Propertylink listings site, finds that the industrial and retail sectors are now almost neck and neck in terms of interest levels from potential occupiers. The barometer for August gives a full breakdown of enquiry levels by percentage, showing the types of property and the locations that are prompting interested parties to pick up the phone or send an e-mail.  There’s also news on a tough AGM vote for one of AEW UK REIT’s non-executives; the thumbs-up for Stanhope and Mitsubishi’s latest London project; and a successful sale for Evolve Estates, which has offloaded a retail asset in Staffordshire comfortably ahead of the asking price. All of the news from EG, plus a selection of headlines from the nationals:Meet EG’s Rising Stars 2024Risk versus reward in the REIT regimeDemand Barometer: What occupiers want – August 2024Rise in completions boosts profit for VistryBritish Land cheers growing retail park portfolioGlenveagh Properties names new finance bossPPHE seals loan refinancingRe-Leased raises $12.5m for AI offeringArrowHeadz to open first UK site in NorwichEvolve Estates sells Staffordshire Asda store to charityIndustry reacts to Grenfell Inquiry reportJohn Lewis submits plans for Reading BTRAEW UK REIT non-exec dealt bloody nose at AGMOffice sector must pick up pace of energy improvementCoffer Corporate Leisure relaunches as Portland Leisure AdvisersPlanners give thumbs up for Temple Quarter mixed-use schemeEngineering firm seals deal at M Core’s West Midlands multiparkNew occupiers sign for Gaw’s Harbour ExchangeStanhope and Mitsubishi’s Victoria Street project approvedBarratt profit drops by 75%Mercia gets £32.5m funding for Birmingham PBSA schemeBheenick joins Godwin as resi development directorLandlords rush to sell former rental homes ahead of Budget (£)Housebuilding revolution will fail unless green rules are axed, Rayner is warned (£)Labour to tighten up right-to-buy to stop house ‘flipping’ (£)US wealthy rescue London’s luxury market (£)