In the news this morning, a fifth of London’s housing target could be achieved through the redevelopment of its council estates, according to a study by the Centre for London think-tank. It reckons the move could provide as many as 160,000 extra homes. News that Apple will move its London HQ to Battersea Power Station is a major post-Brexit boost for the capital. Elsewhere, S&P concedes that the sky has not fallen in since the UK’s Brexit vote. It expects slower growth, but no recession, and says the BoE rate cut will help ensure a soft landing for the housing market.
Study urges redevelopment of London council estates (The Telegraph/FREE)
A redevelopment of London’s council estates could provide 80,000 to 160,000 additional homes, a study by the Centre for London think-tank shows.
Apple to move into Battersea Power Station (The Independent/FREE)
Apple plans to move its London headquarters into Battersea Power Station, and will occupy around 500,000 sq ft of space spread over six floors.
Sky has not fallen in since Brexit (The Times/£)
There will be no Brexit-induced recession, either for the UK or the euro zone, and the sky has not fallen in, ratings firm Standard & Poor’s said.
Record numbers of private renters becoming homeless (The Independent/FREE)
Record numbers of private renters are being made homeless, figures from the Department for Communities and Local Government show.
Council backs plans for Johnnie Walker Kilmarnock site (The Times/£)
East Ayrshire council has given its backing to a regeneration plan for the former Johnnie Walker bottling plant in Kilmarnock.
Student accommodation shortage hits Warwick (The Independent/FREE)
Student accommodation at the University of Warwick is in short supply after a surge in the number of students from European Union countries looking to enrol on courses ahead of Brexit.
Downsizing luxury flats (The Times/£)
Developers are reassessing plans for luxury flats, in several cases replacing plans for large apartments with ones involving a higher number of smaller units.
EasyHotel raises £38m for expansion (FT/£)
EasyHotel has raised £38m via a placement of shares on Aim, and is planning to use the proceeds to fund expansion.
Argos sales growth boosts Sainsbury’s (The Times/£)
Argos recorded a 2.3% rise in like-for-like sales in Q2, new owner Sainsbury’s said.
Parliament would back Heathrow expansion (FT/£)
Prime minister Theresa May has enough backing in parliament to ensure an expansion of Heathrow airport would be approved if she were to put it to a vote next month, the FT reports, citing close allies.
Further fall in interest rates likely to be needed (The Times/£)
Interest rates will likely need to be cut again to avoid a pernicious slowdown, Bank of England deputy governor Nemat Shafik said.
