MORNING NEWS: Student digs push European resi higher

Good morning. Here’s your daily round-up of the latest news and views from EG and a collection of industry-relevant headlines from the nationals, all perfectly curated to set you up for the day ahead. Investment in the UK’s purpose-built student accommodation market helped activity in Europe’s broader residential markets to hit a two-year high during the second quarter of the year. Regional living investment leapt by almost 60% quarter-on-quarter and 17% year-on-year during the second-quarter to €13.9bn (£11.8bn), said JLL in a new report. The agency cited “renewed strength” in UK PBSA as one of the drivers. With €4.7bn invested, the UK accounted for a third of the regional total, up by 35% annually, followed by Germany at €3.1bn. Gary Neville’s Relentless Developments has signed a deal with global computing company Arm at its St Michael’s development in Manchester, the company’s largest prelet yet and the biggest in the city for two years. The firm has agreed to take to take 68,860 sq ft across floors three, four and five at No.1 St Michael’s. Neville said: “This perfectly sums up the momentum that is rapidly building here at St Michael’s as construction continues at pace. We are looking forward to welcoming the team from Arm and being part of their future plans for growth.”  The former House of Fraser department store in Guildford is up for sale for less than a third of what it changed hands for 15 years ago. Canada Life bought the seven-storey, 185,347 sq ft building at 105-111 High Street and 60-64 North Street from British Land for £31.5m in 2009. Now Green & Partners is marketing the site as a redevelopment opportunity for offers over £10m, reflecting a capital value of £53.95 per sq ft. There’s also news on the sale of the Exchange Buildings in Birmingham, a Kuwaiti-backed revamp of a City of London office, and a consultation kicking off for the UK’s first airport-based science, innovation and manufacturing campus. All of the news from EG, plus a selection of headlines from the nationals: UK PBSA drives European resi reboundPlanners powered up for Aberdeen battery facilityPatient transport firm expands operations in LeicestershireNew owner has third try at Bristol office-to-resi playNeville’s Relentless secures its largest tenant in latest St Michael’s preletCity block seeds expansion plans for Singaporean investorCOMMENT: The five investment trends reshaping the CRE landscapeOrchard Street offloads Birmingham’s Exchange Buildings to CorumGuildford House of Fraser up for grabs for £10mEuropean property values tick down for second year runningTri7 buys £16m Manchester tower site out of administrationKuwaiti investor gets go-ahead for London office revampCOMMENT: A rallying cry: pledge your support for bottom-up growthConsultation launched for £1bn MIX ManchesterVaccine developer signs for innovation centre space at TribecaJR Capital and Chancerygate refinance urban logistics fundCriterion secures £25m BLME loan for Trafalgar Square hotel schemeRoxy Ball Room to take over former TK Maxx store in Square MileFresh appointed to UBS’s Glassworks PBSA in BristolProperty investors pile into Bond Street (£)Labour gives green light to London City Airport expansion (£)Chinese developer Kaisa reaches restructuring agreement (£)