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.
Sterling Property Ventures has bought a mixed portfolio of seven assets from BlackRock, acting on behalf of British Airways Pensions Trustees, in a £236m deal.
The portfolio includes a 330,894 sq ft warehouse in Wakefield let to Cubico, a 231,252 sq ft distribution unit at Interchange 26 in Bradford, let to Advanced Supply Chain Group and two grade-A, fully-let office buildings totalling 89,639 sq ft at Windsor Dials in Berkshire.
Those awaiting a decision on Freshwater Group’s planning proposals for the redevelopment of Tenter House at 45 Moorfields, EC2, will be left on tenterhooks since the planning meeting to discuss the scheme has been pushed back, possibly by as much as two months.
The scheme had been expected to come in front of the City of London Corporation’s planning applications sub-committee meeting on 2 July. It is understood that the meeting will now focus solely on Stanhope’s proposals for 1 Undershaft, EC3.
90 North Real Estate Partners and Rasameel Investment Company’s Academy Investment Fund has put a purpose-built student accommodation portfolio up for sale, with a £84m price tag.
The sellers have appointed Harris Associates to find buyers for “The Collection”, which consists of five properties totalling 795 bedrooms. The price reflects a 6.37% net initial yield.
Get Living is looking to sell a student accommodation site in its East Village masterplan in Stratford, E20, for offers over £30m.
The N16 plot has planning permission for 504 student bedrooms, in two towers of 10 and 15 storeys. It is understood that Get Living has appointed Savills to advise on the sale.
And, the joint liquidators of collapsed charity and members’ club the House of St Barnabas have appointed agents to find a new organisation for its Soho Square building.
The Grade I listed Georgian building, at 1 Greek Street, W1, has a private garden and is held on trust for charitable purposes. Built between 1744 and 1747, the property provides space for a members’ club over the ground and first floors, as well as kitchens, offices, a chapel and one of the largest private gardens in Soho.
Adam Stephens and Chris Allen of professional services firm Evelyn Partners have instructed Allsop on the search. It is being offered as a new long leasehold with a ground rent, although other options may be considered. The agent is not guiding a price.
All of the news from EG, plus a selection of headlines from the nationals:
ReSI posts interim rental growth amid value decline
Five-asset PBSA portfolio hits the market for £84m
London office tower decision delayed
The rise of the next-gen financial hubs
Reform UK promises planning reform, less red tape and a high street revival
Get Living puts East Village PBSA plot up for sale
Colliers grows Manchester office with LSH hire
EG Group appoints Colliers on 120-site roadside drive
Out of office: London landlord to turn woeful workplace into holiday lets
CMA launches formal inquiry into Redrow and Barratt merger
Charity sought to take on Soho’s House of St Barnabas
Savills Capital appoints debt advisory director
Wigan town centre revamp to accelerate with project director hire
National deals round-up
Bruntwood SciTech gets nod for further Portland Street regeneration
Warrington council loses credit rating over missing audits (£)
UK ‘bottom of G7 for private sector investment’ (£)
London dragging down UK productivity as office staff work from home (£)
Chinese house prices fall at fastest pace in a decade (£)
Labour sets out plans for hundreds of new banking hubs
Energy performance certificates are unreliable and need reform, says Which?
UK house prices still at ‘record high’ as market remains ‘steady’
