MORNING NEWS: Real estate lending dives to decade-low

Good morning. Here’s your round-up of the latest news and views from EG and a collection of industry-relevant headlines from the national papers. The UK’s real estate finance market has suffered one of its toughest years since the global financial crisis, with new lending plummeting by a third to a decade low. That’s the finding of the latest study from Bayes Business School, which said loan origination dropped to £32bn last year, with looming maturities on existing debt now piling the pressure on borrowers. Nicole Lux, senior research fellow at Bayes, said the pool of willing and able lenders is dwindling. “The UK lending market is becoming more binary, with borrowers sourcing their debt either from UK banks or from debt funds,” she said. “European banks are finding it increasingly difficult to provide funding due to ECB regulations and implementation of Basel IV rules, as well as unfavourable currency movements between sterling and euro funding costs.” Landsec’s head of development management for central London, Ross Sayers, has mapped out four priorities for the real estate industry in the Square Mile as he takes the chair at the City Property Association. Sayers took the two-year role on Wednesday from British Land’s Gareth Roberts. The CPA represents more than 150 real estate companies operating in the Square Mile. Head here to read about Sayers’ to-do list as he looks to “make sure the voice of the property industry is heard” in a busy period ahead. Loads of new appointments, moves and promotions, including 16 new partners at Carter Jonas, JLL’s Lillian Chandler leaving the agency after 25 years and flex firm Industrious making a hire from rival The Office Group.  And in a week that has seen Cushman & Wakefield and Grosvenor post results in which the UK business outperformed that of the US notably, EG editor Samantha McClary asks what the future is for real estate’s American dream?  All the news from EG, plus a selection of headlines from the nationals: New real estate loans plunge to decade lowCain merges with Blackbrook Capital to create $17bn playerRevolution and Nightcap explore takeoverAPI posts negative return ahead of wind-down voteForget the American dream, it should be the UK dreamCity Property Association’s new chair sets out stallIndustrious hires from TOG for senior European roleCustodian offloads Warrington former JTF Mega Discount warehouseCushman hires sustainability lead from Knight FrankCarter Jonas makes 16 partner promotionsEx-Argyll CEO joins flex office group LentaSpaceLogistics and resi top cross-border capital forecastUK housebuilders seek acquisitions as market recoversJLL’s Lillian Chandler departs after 25 yearsInvestec’s real estate arm names private client lending bossJohn Forrester joins Related Argent as strategic adviserHouse prices fall for second month in a row (£)Bailey grapples With divisions at BOE over when to cut UK rates (£)Hedge fund Graham Capital wants New York office as others cut space (£)Wickes sales fall as consumers close door on new kitchens (£)Revolution Bars’ rivals eye bids for struggling chain’s assetsNext shrugs off wet weather to spring back with a growth spurt (£)Mango to open 20 new stores in the UK (£)Starbucks shares plummet after it announces expected drop in profits (£)