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 deals have been double-checked, the square feet totted up, and the results are in for the Q3 EG Radius Leaderboards.
In the all-important London offices market, CBRE took the top spot for lettings and occupational sales thanks to a bumper crop of transactions in the West End, followed by JLL, which outperformed in the City.
In industrials there was a strong showing for Gerald Eve, which acted on more than 1m sq ft in the East of England, and in retail the busiest source of deal flow was found in London for the team at Cushman & Wakefield, which transacted more than 307,000 sq ft.
You can find all of the rankings here.
PRS REIT has officially put itself up for sale after months of shareholder pressure and the resignation of its chair.
The proposed sale is one of several strategic options the FTSE 250 residential investor is looking into having appointed Rothschild & Co to advise on strategy and value maximisation for shareholders earlier this year. The company’s market capitalisation is £592m.
The London Property Alliance is calling for greater resources for planning departments to enable inward investment ahead of next week’s Budget.
Charles Begley, chief executive of the LPA, said he recognised the government’s plans to reform the planning system but that “as part of this there must be a complete step change in how planning departments are treated”.
He added: “In London and in cities across the UK we are facing a shortage of the high-quality, sustainable workspaces favoured by leading businesses. We will not be able to grow the high-productivity sectors identified in the industrial strategy or attract world-class talent if we do not properly resource the planning system and accelerate development to meet this demand.”
There’s also news on the Church Commissioners looking to sell a mixed-use Golders Green site; office closures as Barratt and Redrow work through the integration of their merger; and redundancies as TopHat starts to wind down its modular business.
All of the news from EG, plus a selection of headlines from the nationals:
CBRE on top in London as EG Radius Leaderboards reveal Q3 agency winners
LPA chief calls for ‘complete step change’ in planning ahead of Budget
Hub and Bridges submit plans for 4.5-acre Bath site
UK convenience store market set to grow 9% by 2027
AEW UK REIT posts leisure-led lettings lift
Assura eyes £200m-worth of disposals
EDITOR’S COMMENT: Why demand when we should just do?
RICS introduces new global standard for ethics and best practice
How to unlock value and manage obsolescence risk
Rayner appoints new non-exec at MHCLG
M&G bags two offices at Cambridge business park
Sale of Gloucestershire Airport prepares for take-off
Greystar secures Société Générale loan for Stratford scheme
PRS REIT puts itself up for sale
Trio of lettings secured at VCM Global’s refurbished Edinburgh scheme
Barratt plans office closures in bid to cut costs
Luxury menswear brand picks Manchester for first store
Lazari offloads Baker Street block
Church Commissioners banks on buyer for Golders Green site
Barratt gets nod for Bell Green Gasworks turnaround
TopHat to make 200 factory staff redundant
Retrofitting helps Grosvenor cut carbon by a quarter
Nod for warehouse-to-hotel conversion opposite Everton Stadium
BBC broadcasts intention to sell historic Bristol site
Quintain cleans up with Ritual letting at London Designer Outlet
Making the case for impact investment
Moody’s decamps from Canary Wharf to Square Mile
TriOffice and Pears pick Aviva’s Manchester block for debut investment
Up on the roof: solar panels on industrial assets
Why green leases are a win-win for landlord, tenant and society
Commercial attractions of the most sustainable offices
SEGRO secures planning certainty at Slough Trading Estate
Sama gets the nod for 130-bed Coventry PBSA scheme
UK finance minister Reeves promises economic ‘reset’ in upcoming budget
Finance bosses eye fresh UK return to office push, KPMG says
Whistles-owner Foschini in advanced talks to buy White Stuff
UK could see ‘end of clubbing’ with 10 venues closing a month
Commercial property’s moment of truth (£)
UK civil servants told to work three days a week in the office (£)
Lloyds raises forecast on house prices (£)
Short-seller targets the Priory landlord over property deals (£)
UK mortgage lenders dodge the Budget logjam (£)
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