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Here’s your daily round-up of the latest news and views from EG. 🏢 “With limited new stock available and very little coming through, I expect 2025 to increasingly become a landlord’s office market.” That’s Martin Towns, deputy global head of real estate at M&G plc, on the outlook for offices next year. Investors, developers and agents are optimistic of an upturn, with many predicting value-add investments will present the greatest opportunity amid the ongoing supply shortfall. Investment has been slow in 2024, but John Knowles, head of national capital markets at Colliers, predicts sentiment will improve in 2025, with capital markets activity forecast to strengthen as interest rates and gilt yields stabilise. But “the days of relying solely on standing investments are over,” adds Knowles. “In 2025, the focus will be on uncovering value through refurbishment, sustainable upgrades and alternative assets with strong income potential.” 🏢 With leasing in rude health in many markets, Brookfield Properties has secured fresh lettings across its London office portfolio to close the year with more than 800,000 sq ft of leasing transactions – and occupancy across the 5m sq ft portfolio of nearly 98%. Martin Wallace, head of leasing at Brookfield Properties UK, said: “From these deals it’s clear that there remains strong appetite for high-quality buildings in the right locations.” 🏗️ And Oaktree Capital Management, L.P., Greycoat Real Estate LLP and Homes England have formed a £250m master developer joint venture. The partnership will target large or complex sites with the potential to deliver more than 1,000 homes each. Peter Denton, chief executive of Homes England, said: “Bringing forward more large-scale developments is key to delivering the homes the country needs – and this requires ambitious master developers with clear visions and long-term commitment.  “This partnership has the funding, ambition and expertise needed. It will help to unlock thousands of homes, offering ready-to-build sites to housebuilders while ensuring a cohesive approach, creating brilliant places that people want to live in.” 🗞️ There’s also news on the new drive-thrus pulling into Yorkshire’s largest regeneration project; The Conygar Investment Company’s go-ahead for the next phase of its Island Quarter scheme in Nottingham; and the latest letting at Soho Estates Limited’ Ilona Rose House. All this and more here. https://lnkd.in/esrFNpWJ

On 25 January 2025, we’ll unveil the Q4 EG Radius Leaderboards.   EG Leaderboards set the standard for success, celebrating the standout deals, businesses, and individuals that have shaped the industry.   Make sure you showcase your achievements, celebrate your successes by submitting your deals now. 🗓 Deadline: Submit your deals by Friday, 10 January 2025. It’s quick and easy: Use Kato or Agency Pilot CRM integrations Upload directly to EG Radius   If you need any help or have questions, reach out to us at deals@eg.co.uk

Here’s your daily round-up of the latest news and views from EG. 🏘️ Players in the UK’s living sector believe it will remain “the winner” for attracting investment next year, despite facing challenging headwinds over the course of 2024. Construction cost inflation, interest rate volatility, an election and regulatory change made for an unpredictable year. We look back at the deals that defined BTR, student accommodation and other segments of the market, and what they tell us about likely activity in 2025. “Investor interest in the residential sector is heightening with continued recognition of the urgent need of new housing supply, coupled with the social impact that housing, such as discounted rental products and shared ownership, can deliver,” says Catherine Webster, chief executive of Thriving Investments. ⚖️ DWS says a “fragile” UK economy has nonetheless outperformed all other European markets for real estate investment this year. In an outlook paper, the asset manager said growth has been supported by a notable fall in inflation and two interest rate cuts, adding that the Labour government’s focus on public investment should promote economic recovery. “The UK has been by far Europe’s most active real estate investment market over 2024, despite volumes remaining well below average,” the team said. “Improved sentiment is a result of attractive pricing, a recovering economy and a more stable political environment.” 🏙️ And London has passed Paris to reclaim the number one spot as the most attractive European city for residential investors, according to PATRIZIA SE’s European Living Cities Index 2024. Zurich claimed third place, up from fourth in 2022, with Stockholm rising to seventh from ninth place in the ranking. 🗞️ There’s also news on Henry Boot’s latest bet on housebuilding; Legal & General buying homes from Birmingham City Council in Perry Barr; and the new head of CBRE’s Oxford office. All this and more here. https://lnkd.in/eQngRUDi

Here’s your daily round-up of the latest news and views from EG. 📈 A bounceback could be under way for the office market. The outlook for returns from London and regional workspace makes them some of next year’s likeliest top performers, according to the team at Savills. The agency has raised its outlook for the average total return for UK real estate to 7.4%, compared with 6.8% for 2024. The firm’s top performer for annual returns remains residential buy-to-let in the North West, at close to 11%, but central London and regional offices have moved up its table, both to more than 10%. James Gulliford, Savills’ joint head of UK investment, said: “The 40-year high of inflation has passed, and most forecasters are predicting around 100 basis points of base rate cuts from now until the end of 2025. Both of these are good news for land and property occupiers and landlords, and should bring increased levels of transactional activity in many markets.” 🧪 We take a look back at deals and developments from the life sciences sector over the course of this year and ask what the future holds. Investment, development and leasing activity across the Golden Triangle markets remained relatively resilient through 2024, ending on a high and with a good level of optimism for the year ahead. Joanne Henderson, head of life sciences for Europe at CBRE, said: “2024 has been marked by global volatility and a challenging environment for life sciences businesses, with geopolitical uncertainty and high inflation impacting venture capital funding. However, post-election stability in the UK has revitalised venture capital activity, with £3.7bn anticipated for the sector by year end.” Matt Smith, head of science and technology at DTRE LLP, added: “There is a belief that we have turned a corner, and some green shoots are beginning to show. Renewed occupier confidence is reflected in companies now returning to the market. We have seen an uptick in larger space requirements, with more than 270,000 sq ft of lab space currently under offer across the Golden Triangle.” 🏢 And more than 95% of London’s flex operators are planning to expand as average attendance in London reaches four days a week. Nearly half are targeting growth in the West End, while one-third are looking at the City, according to a survey by Knight Frank of flex providers in the capital, including GPE, British Land and Fora. Amanda Lim, head of flexible offices at Knight Frank, said: “Premium spaces in the best locations have witnessed strong demand, given that scarce availability within new prime buildings across the City and West End have complicated matters for companies looking to secure traditional long-term leases.” 🗞️ There’s also news on REGIONAL REIT LTD’s next chair; Capital&Centric’s shopping centre redevelopment play; and a new face on the New Towns Taskforce. All this and more here. https://lnkd.in/egNZsyQ4

🔥 Hot Job of the Week 🔥 Surrey County Council is hiring a Head of Acquisitions and Disposals in Surrey, offering a competitive £79,260 p/a salary. This is an exceptional opportunity to take charge of a £2bn property portfolio, lead high-impact transactions, and drive transformative projects that make a real difference to Surrey’s communities. 📅 Apply by: 6 Jan 2025 📍 Location: Reigate 👉 Don’t miss out – apply today: https://lnkd.in/eDF4GRjb #Leadership #PropertyJobs

Good morning. Here’s your daily round-up of the latest news and views from EG, all perfectly curated to set you up for the day ahead. It’s always the bridesmaid, never the bride no more for Landsec as it finally secures its big retail deal of the year. The REIT, which announced plans to spend as much as £600m on prime shopping centres back in May, has this morning secured the purchase of a 92% stake in the 1,7m sq ft Liverpool ONE shopping centre. Landsec has agreed to pay £490m to Abu Dhabi Investment Authority (ADIA) and Grosvenor for the 42-acre scheme. Grosvenor Property UK boss James Raynor said he planned to reinvest proceed from the sale of Liverpool ONE into its London estate and its residential debt business, which has supported the delivery of more than 3,000 homes in the two since it was set up. Elsewhere, Blackpool Council is on the hunt for a new investor to bring forward its £300m Blackpool Central scheme following the collapse of developer Nikal. The council will appoint an adviser in the new year to take the 15-acre site to market. Nikal had planned to build build three indoor entertainment centres, a hotel and restaurant on the site. A 1,306-space multi-storey car park has already been delivered. More power is set to be delivered to the regions as part of an English Devolution white paper, launched by the government yesterday. The proposals include new powers for mayors across strategic planning – giving them the ability to guide infrastructure and development projects across areas, housing, transport and skills. Deputy prime minister Angela Rayner said: “Devolution will no longer be agreed at the whim of a minister in Whitehall, but will be embedded in the fabric of the country, becoming the default position of government.” The plans have been largely welcomed, albeit with some caveats. Ian Fletcher, director of policy (real estate), at the British Property Federation, said the white paper was a positive step forward but for devolution to work properly there needed to be a “genuine handing over of power, including fiscal powers. A new report, funded by Legal & General and produced by the Quality of Life Foundation and UCL Institute of Heath Equity, published today seeks to remind both government and developers that housing delivery is about more than just hitting the numbers. The Building Health Equity: The Role of the Property Sector in Improving Health report reveals how poor quality and inequitable access to homes that people can afford is linked with worse mental and physical health, while increased availability of secure, affordable, warm homes can improve long-term health and longevity. All that and so much more in your EG MORNING NEWS ⬇️ ⬇️ ⬇️ https://lnkd.in/e9TiMnyQ

Good morning. Here’s your daily round-up of the latest news and views from EG, all perfectly curated to set you up for the week ahead. As the sun sets on 2024, EG looks back at the year when a new government was voted in, the market began to express some optimism and big deals were done. Delve into EG’s annual review of the year, in which we take a look – month by month – at the biggest stories to hit the headlines, from LondonMetric Property PLC (LMP) and LXi REIT PLC’s January merger, through to a new government, the saviour of WeWork, Home REIT’s failure, the loss of some major talent and personalities from the real estate sector to the slow but gradual return of optimism. Elsewhere, Welput has had its plans to build a 43-storey office block next to one of Britain’s oldest synagogues, refused by the City of London Corporation planning committee. Welput’s plans, which proposed 366,000 sq ft of new commercial space at Bury House were refused 14 to 8 due to the tower’s impact on the Tower of London world heritage site, its bulk and massing and impact on sunlight to surrounding buildings. In Hampshire, Southampton City Council and Southampton Football Club are looking to score with the signing of a memorandum of understanding outlining plans to explore the redevelopment of the St Mary’s Waterfront area. The partnership aims to create a premier sports, leisure, and entertainment offer along the South Coast, benefiting residents, visitors, and the broader community. Phil Parsons, chief executive of Southampton FC said: “For the club to thrive and survive in the Premier League, we must increase our revenue streams and developing the St Mary’s Waterfront area is central to achieving that. In turn, a successful football club at the highest level brings enormous benefits to the city, including increased tourism, investment, and civic pride.” Henry Boot has teamed up with Feldberg Capital for a new push into mid-box logistics. The pair's Origin JV is seeded with three Henry Boot logistics developments with a combined GDV of £100m. The jv will target EPC A and BREEAM Excellent developments. David Turner, managing partner at Feldberg Capital, added: “Having held back from the industrial and logistics market while assets looked overpriced, we believe now is a highly attractive entry point." And developers may well be able to sidestep working out how to mitigate any damage they may make to natural habitats ahead of gaining planning permission under new reforms by the government. In its bid to reach its target of delivering 1.5m new homes over the next five years, the Labour government is proposing that developers pay into a new nature restoration fund – likely to be managed by Natural England – which will then take responsibility for securing positive environmental outcomes across developments. All that and so very much more in your EG MORNING NEWS ⬇️ ⬇️ ⬇️ https://lnkd.in/eicsZ4pJ

Good morning. Here’s your daily round-up of the latest news and views from EG, all perfectly curated to set you up for the week ahead. As the sun sets on 2024, EG looks back at the year when a new government was voted in, the market began to express some optimism and big deals were done. Delve into EG’s annual review of the year, in which we take a look – month by month – at the biggest stories to hit the headlines, from LondonMetric Property PLC (LMP) and LXi REIT PLC’s January merger, through to a new government, the saviour of WeWork, Home REIT’s failure, the loss of some major talent and personalities from the real estate sector to the slow but gradual return of optimism. Elsewhere, Welput has had its plans to build a 43-storey office block next to one of Britain’s oldest synagogues, refused by the City of London Corporation planning committee. Welput’s plans, which proposed 366,000 sq ft of new commercial space at Bury House were refused 14 to 8 due to the tower’s impact on the Tower of London world heritage site, its bulk and massing and impact on sunlight to surrounding buildings. In Hampshire, Southampton City Council and Southampton Football Club are looking to score with the signing of a memorandum of understanding outlining plans to explore the redevelopment of the St Mary’s Waterfront area. The partnership aims to create a premier sports, leisure, and entertainment offer along the South Coast, benefiting residents, visitors, and the broader community. Phil Parsons, chief executive of Southampton FC said: “For the club to thrive and survive in the Premier League, we must increase our revenue streams and developing the St Mary’s Waterfront area is central to achieving that. In turn, a successful football club at the highest level brings enormous benefits to the city, including increased tourism, investment, and civic pride.” Henry Boot has teamed up with Feldberg Capital for a new push into mid-box logistics. The pair's Origin JV is seeded with three Henry Boot logistics developments with a combined GDV of £100m. The jv will target EPC A and BREEAM Excellent developments. David Turner, managing partner at Feldberg Capital, added: “Having held back from the industrial and logistics market while assets looked overpriced, we believe now is a highly attractive entry point." And developers may well be able to sidestep working out how to mitigate any damage they may make to natural habitats ahead of gaining planning permission under new reforms by the government. In its bid to reach its target of delivering 1.5m new homes over the next five years, the Labour government is proposing that developers pay into a new nature restoration fund – likely to be managed by Natural England – which will then take responsibility for securing positive environmental outcomes across developments. All that and so very much more in your EG MORNING NEWS ⬇️ ⬇️ ⬇️ https://lnkd.in/eicsZ4pJ

Good morning. Here’s your daily round-up of the latest news and views from EG, all perfectly curated to set you up for the day ahead. Fresh reforms to the National Planning Policy Framework will see local councils told they must play their part to meet housing need by reaching a new ambitious combined target of 370,000 homes a year. The new framework sets mandatory targets for councils to ramp up housebuilding across the country. Under new planning rules, areas with the highest unaffordability for housing and greatest potential for growth will see housebuilding targets increase, while stronger action will ensure councils adopt up-to-date local plans or develop new plans that work for their communities. A new common-sense approach will also be introduced to the greenbelt. While remaining committed to a brownfield-first approach, the updated NPPF will require councils to review their greenbelt boundaries to meet targets, identifying and prioritising lower quality “grey belt” land.   Deputy prime minister and secretary of state for housing, Angela Rayner added: “This mission-led government will not shy away from taking the bold and decisive action needed to fix it for good.  “I will not hesitate to do what it takes to build 1.5m new homes over five years and deliver the biggest boost in social and affordable housebuilding in a generation,” said Rayner. ”We must all do our bit and we must all do more. We expect every local area to adopt a plan to meet their housing need. The question is where the homes and local services people expect are built, not whether they are built at all.”  "Tight control" of costs at Allsop LLP has enabled the agent to deliver almost £16m of profits to its members and a turnover of more than £45m. Senior partner Scott Tyler said the business had seen strong performance from its auctions business, particularly in residential which had a record year. “We are pleased to have pushed turnover and profit along in the last 12 months," said Tyler. "Our strategic vision remains to be the go-to partner in UK property transactions, consultancy and management services by prioritising trust, transparency and an exceptional partner-led service. To sustain long-term growth, we will continue to develop a balanced portfolio of services that complement each other and can trade successfully through unpredictable property cycles.” Elsewhere, roadside services JV Roadside Retail has taken its spending to more than £100m in the the past three months, while British Land has continued with its retail park shopping spree adding the 123,000 sq ft Orbital retail park in Cannock to its portfolio. All that and so much more in your EG MORNING NEWS ⬇️ ⬇️ ⬇️ https://lnkd.in/eH7WW2p9

If you were unable able to join us for our Bird’s-eye View: The Inside Scoop webinar, the session is now available to watch on-demand, offering key insights into the trends that shaped 2024 and the opportunities ahead for 2025.   Watch on-demand here: https://lnkd.in/gtGMbGXM Thank you for your continued support of EG. We hope this content proves both valuable and insightful.