Good morning.
The “biggest shake-up in planning for 70 years” is set to be abandoned(£), amid fears that it could cost safe seats in the south. Housing minister Robert Jenrick is thought to be preparing a watered-down version.
Meanwhile, he talks up the possibility of more mayors(£) from the housing ministry’s newly opened office in the West Midlands.
The Skygardens will be Soho’s most expensive ever office(£) thanks to a £120 per square foot deal with the “King of Spacs”.
Offices will be closed(£) if there is a winter wave of Covid, the PM will warn.
And Regal London is expanding beyond inner London with a £150m mixed-use development in Watford.
Canadian convenience store and gas station giant Couche Tard(£) has emerged as the most likely buyer of EG Group’s overseas empire.
The boss of the Vistry Group(£) is finding it hard to line up a successor, because private equity poaches all the best talent. Never mind, he thinks they’ll try to buy Vistry soon.
Meanwhile, the boss of the Financial Conduct Authority(£) has denied hypocrisy over its handling of the £237m London Capital & Finance scandal.
And the boss of the CBI(£) says that the £12bn National Insurance and dividend tax hike will suffocate investment(£).
Office workers are returning to the city centres, says Pret(£), as it sells 15% more sandwiches. The bosses of some UK firms are handing out candy floss and beer to tempt workers back to their desks.
Brexit(£) is threatening the future of 20 M&S stores…
… But more than two thirds of City firms believe/hope that London will retain its status as one of the world’s leading financial centres(£) after Brexit…
… As Cambridge office rents(£) benefit from those seeking spokes.
But students are being forced to defer or stay in hotels because of a dearth of digs(£).
EG Like Sunday Morning catches up on all the shenanigans at the RICS, and finds out what this year’s mini-MIPIM was like.
The Times (£) also takes a look at the crisis that engulfed the RICS and concludes “small problems are best tackled while still small”. It also examines Civitas Social Housing(£), which is being pursued by short-seller ShadowFall.
Blackstone has abandoned its planned $3bn purchase of Chinese developer Soho China(£), after failing to win Beijing’s approval in time.
Promises made by Morrison’s bidders to retain freeholds and preserve working practices could be torn up within a year, warns The Times (£).
It also takes a closer look at Piers Portman(£), heir to the Portman Estate and convicted anti-Semite.
Jane Austen fans(£) are all of a fluster at plans to build 1,200 houses near the author’s former Hampshire home. But they are far less appalled than the neighbours of James Perkins’ Parnham House(£) in Dorset. The “rave king” has just been granted a 24-hour licence. Paaartaaay!
And finally, Vistry’s Fitzgerald might be on to something. It seems there is a shortage of entrepreneurial zeal not just in housebuilding or PLCs, but commercial property too. On what evidence do we base this egregious slander? Well, The FT(£) has today published its list of the UK’s top 100 entrepreneurs. “Commercial property” is credited as having only one entrant. Somewhat controversially, it is IWG’s Mark Dixon.
To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews
