In the news this morning, a robust market was behind a strong rise in reservations at Bellway, and the housebuilder expects completions to be up 10% for the full year. The group behind Raffles Singapore is bringing its expertise to London, signing a contract on a 125-room hotel in the Old War Office building. Remaining in London, Grosvenor Group is planning a development of 1,500 rental homes in Bermondsey. The 11 blocks of flats will be aimed at low- to middle-income tenants, and will include some offered at discounts to market rent.
Bellway reports rise in reservations (The Telegraph/FREE)
Bellway reported a 13% on-year rise in reservations in the period from 1 February to 4 June, and forecast a 10% increase in completions in the year to the end of July.
Raffles comes to Whitehall (The Times/£)
Raffles Hotels & Resorts has signed a contract with India’s Hinduja Group and Spain’s OHLD to manage a hotel at the Old War Office building in Whitehall.
Grosvenor Group to build 1,500 rental homes in southeast London (The Guardian/FREE)
Grosvenor Group is planning a £500m build-to-rent development of 1,500 homes in southeast London.
Short raises $2bn for European distressed property debt market (FT/£)
Ellis Short has raised $2bn to invest in European distressed property debt, pulling the funds together in super quick time.
WH Smith high street sales down 4% (The Telegraph/FREE)
Like-for-like sales at WH Smith’s high street stores fell 4% in the 15 weeks ended 10 June, accelerating from a fall of 3% in the year-earlier period.
Concerns raised after CMA inquiry into care homes (The Times/£)
An inquiry into the care home sector by the Competition and Markets Authority reveals concerns that some homes may not be treating residents fairly.
TIAA targets Japanese real estate (Bloomberg/FREE)
US company TIAA has $1bn to invest in Japanese real estate, the director of capital transactions for Asia Pacific at its TH Real Estate property unit, Shusaku Watanabe, said.
