Latest news – Page 7
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News
Vistry profit is ahead of guidance as Fitzgerald prepares to take chair from Findlay
Housebuilder Vistry’s financial performance for 2023 was ahead of its guidance, with adjusted profit before tax expected to fall in line with 2022’s figure of £418.4m, according to its trading update for the year to the end of last December.
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RICS welcomes Peace as one of four senior governance appointees
RICS has appointed four new members to senior governance roles across the organisation, including Liz Peace as senior independence governor.
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BCPT sells trio of assets for £43m in bid to reduce office exposure
Balanced Commercial Property Trust (BCPT), managed by Columbia Threadneedle, has sold three office holdings across the UK for a total of £42.8m as it moves to reduce its office exposure.
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SCOR to relocate London office to City tower 8 Bishopsgate
Global reinsurance provider SCOR has agreed to take approximately 50,000 sq ft of office space in Mitsubishi Estate London and Stanhope’s 8 Bishopsgate.
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First results from low-carbon homes project show Future Homes Standard ‘achievable at scale’
The first results from the University of Salford’s low-carbon housing project, developed in collaboration with Barratt Developments, Bellway and Saint-Gobain, indicate that the Future Homes Standard (FHS) can be delivered at scale by 2025.
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Starwood Capital acquires London portfolio of Radisson Blu Edwardian hotels
Edwardian Hotels London has sold all 10 of its Radisson Blu Edwardian hotels in the capital to Starwood Capital Group.
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Government set to delay mandatory BNG rules by another month
The government’s plans to enforce mandatory biodiversity net gain (BNG) rules for developers in England are reportedly set to be delayed again.
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InfinitSpace opens new flex location at The Bower after WeWork exit
Flexible workspace operator infinitSpace has confirmed the launch of a new 20,000 sq ft location at The Bower in Shoreditch, east London, taking over two floors following WeWork’s departure from the site.
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Stoford and BlackRock fund submit plans for 302,000 sq ft Coventry shed
Commercial property developer Stoford and BlackRock UK Property Fund (BUKPF) have submitted a detailed planning application for the redevelopment of a 16.4-acre logistics complex in Coventry.
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Just over 50,000 buy-to-let companies were set up in 2023, says Hamptons
A record 50,004 companies were set up to hold buy-to-let properties in 2023 despite a sharp fall in housing sales, according to research from Hamptons.
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@PeterProperty on the future of the LondonMetric LXi Reit merger
In 2009, British Land retail boss Andrew Jones walked out with two colleagues to set up LondonMetric.
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Regeneration Brainery appoints Steel as first chief executive
Regeneration Brainery, the not-for-profit organisation that helps young adults from diverse backgrounds into property careers, has appointed Michele Steel as chief executive.
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Montagu Evans appoints former JLL director Collins as partner
Former JLL director Ashley Collins has joined Montagu Evans as a partner in its planning team.
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Jonathan Lowe joins CBRE from Avison Young
CBRE has appointed Jonathan Lowe as head of science and technology for the North.
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Falling rates to spur real estate revival, but ‘tepid’ transaction activity poses challenges
Falling interest rates will spur a revival in real estate capital markets in 2024, but tepid transaction activity and subdued economic growth are likely to make it another challenging year, said CBRE.
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Majority of investors optimistic about commercial market in 2024, report finds
A new report from global professional services firm Alvarez & Marsal shows 56% of investors feel optimistic about the outlook for UK and European commercial real estate investments over the next 12 to 18 months.
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Schroder European REIT reports dip in portfolio value
Schroder European Real Estate Investment Trust has had its direct property portfolio independently valued at €210.2m (£180.6m) as of the end of last year, down 1.8% over Q4, according to a portfolio update from the company.
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Harworth completed 1,170 residential plot sales in 2023
Harworth Group, a regenerator of land and property for sustainable development and investment, completed 964 residential plot sales in December, bringing its total for the year to 1,170.
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Cash-strapped Birmingham City Council to auction off property
Cash-strapped Birmingham City Council is to sell 29 disused properties and commercial ground leases at a Bond Wolfe auction next month.
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EU faces £400m bill for empty London office after WeWork troubles
The European Union faces a potential bill of £400m for an empty London office it vacated in 2016 in the wake of Brexit and sub-let to WeWork, following the flexible workspace giant’s bankruptcy in the US.