Good morning. Here is your AM bulletin, packed with the latest news and views from EG, and sprinkled with a few tasty bits from the daily papers.
Nine in 10 offices in Glasgow, Edinburgh, Birmingham and Bristol will be unlettable by 2030, Carter Jonas has found. And nearly a fifth of the UK’s office space is already effectively unlettable. Its report echoes EG’s own findings of real estate’s unpreparedness for the new EPC rules, which was published last year.
Meanwhile, The Times (£) takes a look at how crumbling concrete and asbestos have created a timebomb for public buildings.
And the government will fail to keep its pledge to build 40 new hospitals, says the NAO, even after watering-down the meaning of the words “new” and “hospital”.
Speculative lab development in London is set for a major slowdown as investors take a more cautious view, says Gerald Eve.
The FT’s Big Read looks at Marks & Spencer’s redevelopment of its former Oxford Street flagship(£), and asks what this tells us about the embodied carbon debate.
And The Telegraph(£) has a look at the City’s plans to help transform swathes of empty offices into hotels.
Grosvenor has begun a £35m capital investment programme to transform its regional office portfolio into low-carbon workspaces.
Lok’nStore has deployed the first chunk of last month’s £19.8m share placing to buy a freehold site in Eastbourne.
Freddie Brooks is standing down as CFO of LXi REIT‘s investment manager.
Flower Island’s plan for the redevelopment of 52 Tottenham Street, W1, have been given the green light, despite objections from Grand Theft Auto creator Rockstar Games.
Housebuilders would need to ringfence an area the size of London to offset the impact of 120,000 new homes under nutrient neutrality rules.
Company administrations increased by 44% in the first half of the year.
But that isn’t the only sign of the continuing cost crisis. House prices have fallen for a second month in a row as rising mortgage costs begin to bite.
And the number of homeowners unable to afford to live in their homes has almost doubled in a year.
And the number of pensioners in rented accommodation will more than double to over a million in a decade.
The Conservatives are actively looking at scrapping inheritance tax.
And families who fled war-torn Ukraine are now leaving England because they cannot find affordable homes to rent.
There is some good news, though. This November EG will host its inaugural CEO Summit. The exclusive one-day event will bring together some of the UK’s most transformational leaders, from across the built environment and wider business world, to debate, inspire and network.
