MORNING NEWS: WeWork names Cushman exec as new CEO

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. WeWork has named Cushman & Wakefield tri-state chairman John Santora as its new chief executive, as it officially emerges from its Chapter 11 bankruptcy plan. Santora, who replaces David Tolley in the role, worked at Cushman for 47 years. Taylor Wessing’s head of planning Alistair Watson has mapped out a timeline of what changes to expect in planning if there is a Labour government. The lawyer, who has been working with senior policymakers, tells EG that there is recognition that real estate drives economic growth. Commercial landlords are set to lose the equivalent of £750m per year in rental income if they fail to comply with Minimum Energy Efficiency Standards regulations, according to data from Search Acumen shared exclusively with EG. Nearly 18,000 commercial leasehold properties have not met MEES legal requirements, with offices among the worst performing sectors. Cadillac Fairview-backed Long Harbour is looking to raise up to £750m for its purpose-built student accommodation investment platform. The venture was launched last year with Rosethorn Capital Partners and is led by Rosethorn chief executive Stephen Rigby, who was a founder and chief investment officer at Student Roost. John Lewis Partnership is set to launch an appeal for a decision on its application to develop 428 build-to-rent homes above its Waitrose store in West Ealing, west London. The Waitrose owner will submit an appeal on the grounds of “non-determination”, meaning the application will be considered by a planning inspector. The proposals were submitted nearly a year ago and are still being reviewed by Ealing Council. And, Dragons’ Den star Steven Bartlett has signed for a new headquarters in Shoreditch, EC2, for his podcasting business, best-known for Diary of a CEO. Bartlett’s company has taken 23,000 sq ft of studio and office space with private terraces. The building was advertised with a rent of £65 per sq ft. Belcor advised Bartlett, while Making Moves London and Compton were leasing agents for the building. All of the news from EG, plus a selection of headlines from the nationals:L&G combines LGIM and LGC divisionsGPE closes £350m rights issueThe election? ‘It’s all about planning’WeWork appoints new chief and exits Chapter 11 bankruptcyLandlords risk losing £750m a year by failing to improve EPC ratingsLondon edges into top 10 global sustainable citiesForth Green gets official freeport statusAware Super hires Patrizia’s Elshout to head UK and European property teamSteven Bartlett signs for new Shoreditch HQJohn Lewis to appeal Ealing scheme as council lags on decisionYork car showroom to become 234-bed PBSA schemeColliers’ Horrell to step downLondon Tunnels project gets go-aheadConservative manifesto pledges to scrap nutrient neutrality rulesCarter Jonas names new finance directorPlans in for Goole Freeport South industrial schemeSquare Mile approves office-to-hotel schemeCapital & Centric sheds light on Wigan’s civic centre designsDealmaker of the month: Kaine Arkinson, Shepherd CommercialReasons to be cheerful in prime central LondonPlanning approvals fall to record lowSpecial Opportunities planned blockbuster listing falls flat after failing to meet fundraising targetBank Leaders Say Real Estate Pain Is Still Confined to Office (£)UK mortgages in arrears hit near 8-year high (£)Greens hope to win renters’ votes with housing commitments in election manifestoGrid powers up with one of Europe’s biggest battery storage sites (£)