MORNING NEWS: Real estate welcomes Labour’s ‘end to uncertainty’

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. The Labour Party has won the general election with a landslide. For real estate leaders, the questions are now who takes on the cabinet posts with the greatest effect on the sector, and what steps the new government takes to meet its manifesto promises. Etienne Prongué, UK chief executive at BNP Paribas Real Estate, said Labour has made “potentially game-changing pledges on business rates and planning reform, as well as outlining a bold vision for unlocking private investment across the UK”. William Beardmore-Gray, senior partner and group chair at Knight Frank, said: “We are hopeful that this election result ends the long period of political uncertainty which has negatively impacted the real estate sector. Both our domestic business leaders and those considering investing in the UK need a stable policy footing that addresses a myriad of challenges.” For more of the immediate reaction from the industry, head here. This week’s EG Interview is with Marc Brough, founder of flexible office operator Cubo. Fresh from taking on a former WeWork site in Manchester, the company is now eyeing greater expansion. Plus, we catch up with NewRiver REIT’s Allan Lockhart and Ellandi co-founder Mark Robinson to discuss their tie-up, and the pair offer their own manifesto for the future of the business.  “If we were a political party, our one-word manifesto would be ‘growth’,” says Robinson. “That’s what it’s all about. It’s an exciting time to be coming together.” All of the news from EG, plus a selection of headlines from the nationals:Cubo’s flex expansion: ‘We’ve barely scratched the surface’Grosvenor UK makes debut investment in European built environment VC fundReal estate looks to ‘game changing’ government as Labour sweeps to powerTice becomes MP for Boston and SkegnessRecord number of riders join CBRE to help those with dementiaNewRiver and Ellandi’s one-word merger manifestoSavills raises £30m at first July auctionKavanagh appointed ULI Europe chairCroydon school hits the marketPBSA investment skyrockets to £1.7bnGlenveagh revenue falls by 13% in H1Slug & Lettuce slumps to a loss as owner scrambles to refinance £2.2bn debt mountain (£)Senior Vatican cleric accused of lying to court in London lawsuit (£)Cineworld considers closing quarter of its UK cinemas (£)Housebuilding slows as developers await new Labour policies (£)The rooftop solution to keeping streets cool (£)The commercial property chief who refuses to be put in a box (£)