Good morning. Here’s the latest round-up of what’s making the headlines in real estate at EG and in the papers.
As Landsec’s Marcus Geddes steps into the role of chairing the Westminster Property Association, he talks to EG about his top priorities for the organisation.
SEGRO has posted a slight slowdown in rental growth and a 2% reduction in portfolio value during Q1 this year. Chief executive David Sleath said that while investment activity remained “subdued”, market data is “showing signs of stabilisation in asset values”.
Inflation has fallen slightly but stayed above 10%, prompting predictions of another hike in interest rates next month.
Zara founder Amancio Ortega has completed a deal to buy a former BBC office in Fitzrovia, W1, for £82m from Abrdn.
Investment in student accommodation fell by 70% on its five-year average in Q1 2023, according to data from Lambert Smith Hampton. Overall investment appetite was subdued, with some £8.1bn of assets changing hands.
Meta is cutting or relocating Instagram staff based in London, with around 100 roles thought to be affected.
The public’s trust issues with the real estate sector was a hot topic of discussion among industry leaders this week. There are steps that can be taken to rebuild that trust, writes EG’s editor Samantha McClary.
A trio of buyout firms are exploring the option of a joint bid for sandwich chain Subway.
Endurance Land has submitted plans for a 34-storey office tower at 99 City Road, EC1, to the London Borough of Islington.
And Native Residential’s head of facilities management Jake Matthews takes a look at the practical implications of the Building Safety Act for build-to-rent operators.
