About Simon

This author has not yet filled in any details.
So far Simon has created 86 blog entries.

Moody’s Quit Canary Wharf

Your Content Goes Here Moody's is the latest, in the financial services sector, to vote with their feet in regard to Canary Wharf.  The credit rating agency confirmed it is taking space at 10 Gresham Street, subject to final terms, and will move in 2026, when its lease at One Canada Square expires. This departure, after more than 15 years, follows closely HSBC's decision last summer to also vacate One Canada Square in favour of the square mile.  HSBC had been in occupation since 2002. Whilst Canary Wharf's large towers have fallen out of favour, with a number of tenants recently, others have committed to stay.  Barclays are staying put until 2039 and Morgan Stanley are also expected to confirm allegiance shortly.  Potential new tenants include Revolut. Although a couple of years off, this departure will add another six floors to the current seven floors vacant in the 50 storey tower.  Canary Wharf has [...]

Moody’s Quit Canary Wharf2024-03-19T13:21:40+00:00

Sell Homes of “Putin’s Cronies”

Sell Homes of "Putin's Cronies" The phrase 'more easy said than done' surely applies here? All sounds great in theory - sell over a billion quids worth of Russian owned assets and provide new housing for displaced Ukrainians. According to new analysis by City Hall, if the £1.1bn of property identified by Transparency International in 2022 as being bought by Russians accused of corruption or with links to the Kremlin could be sold, it would provide sufficient funding for over 4,000 low-cost homes - lifted from the Beeb Quite a big 'if' and 'but' in there? So any legs or attention grabbing headline?  Would dearly love to voice educated opinion but a quick google of related media articles the breadth of coverage would suggest the latter

Sell Homes of “Putin’s Cronies”2024-03-05T13:18:52+00:00

BT Tower to Become a Hotel

The Post Office Tower, as it was originally known, is set to become a hotel as owners BT Group sell to US group MCR Hotels for £275m.
The BT Tower was London’ tallest building for sixteen years after its opening in 1965 with its microwave aerials playing an essential role in telecommunications.  Telecoms has undergone its own revolution and the Tower’s role has diminished but it still remains a significant London landmark.

BT Tower to Become a Hotel2024-02-21T16:56:55+00:00

WeBroke!

WeWork has warned of “significant doubt on the company’s ability to continue as a going concern”, after a £123m loss and revealing it owes its parent co £731m.

WeBroke!2024-01-09T20:00:27+00:00

Gove Pauses Khan’s Planning Rejection

Housing secretary, Michael Gove, has ordered a six week pause to determine whether he should have the final say on proposals for the MSG Sphere in Stratford

Gove Pauses Khan’s Planning Rejection2023-12-01T07:40:25+00:00

That’s another fine MEES you’ve got me into…

That's another fine MEES you've got me into As April 2027 and 2030 deadlines loom how realistic is meeting EPC C and B ratings for run-of-the-mill London offices? The definition of run-of-the-mill London Offices is more than a tad vague so we grabbed an example off Langham Estates stock in Margaret Street. The fourth floor at number 19 is on the market and currently has an EPC rating of D.  By 1st April 2027 this will need to be improved to C, and B by 2030.  The floor in this building must be typical of a fair amount of secondary office space in London. One would assume the Langham have already done the simple stuff like energy efficient lighting, heating controls and the likes so begs the question what would need to be done to get that certificate to C and B...

That’s another fine MEES you’ve got me into…2023-11-23T14:32:44+00:00

Inflection Point?

British Land’s decision to rebuff Meta’s alternative tenant, for space at Triton Square they never occupied a “sign of confidence in the London office market”?

Inflection Point?2023-11-14T12:35:35+00:00

WeWork, Wont, Worked, What?

WeWork, Wont, Worked, What? As WeWork try to renegotiate nearly all its leases, the comment “many landlords are expected to listen” seems somewhat trite as will many landlords really have an option? “It’s better to engage smartly with WeWork and see what’s available than not talking at all,” said Isaac Marcushamer, an attorney at Miami-based law firm DGIM. (well, he would say that wouldn’t he?) Should they decide not to listen, however, heaven forbid they respond, “We Won’t” as WeWork has, allegedly, just sent a cease-and-desist letter to rival Codi in response to the startup’s recent marketing campaign it dubs “WeWont” WeWork still has wide name recognition from its fast growth, post founding in 2010. It later had to scrap its first attempt at an initial public offering before ousting its co-founder and CEO, Adam Neumann, and embarking on cost cuts. That turnabout was so dramatic it was the topic of an AppleTV mini-series, "WeCrashed Work, Wont, Crashed [...]

WeWork, Wont, Worked, What?2023-11-09T13:14:21+00:00
Go to Top