According to analysis from Knight Frank there is circa 613,000 sq ft new-build office accommodation completing outside of London this year, of which around 370,000 sq ft remains available. This figure seems astonishly low. Is this down to construction costs, lack of demand, high proportion of refurbs…?
Build-to-rent investment in Q1 totalled £735.3m, with investment into the sector up by almost 40% compared with the same period 2024.
The heart says this is the end of an era - the head says it is more akin to a retirement a long time in the making.
Canadian asset manager, Brookfield, has put London’s Citypoint tower up for sale with a price tag thought to be around £500m. This represents the biggest test yet of the UK capital’s office market after a two-year downturn and comes as Brookfield faces a deadline on about £460mn of debt secured on the 36-storey building
AXA IM have now lodged an environmental impact assessment report with the City of London Corporation on 1980s offices at Camomile Court and 63 St Mary Axe, EC3
Asda has today unveiled plans for a transformational Mixed-Use Redevelopment of its ten-acre Park Royal site in North West London.
As WeWork receives court approval to a $450 rescue plan from its senior creditors, has Adam Neumann finally been shut out in his bid to buy back the company?
The proposed deal will be voted on by creditors on May 30th.
As London’s office market continues to go through uncertain times the demand for lab space by the life sciences sector seems to be the answer everybody is relying on at present.
More than £900mn has been wiped off the value of Canary Wharf Group’s office buildings, as the financial district landlord secured backing from lenders for a £553mn debt deal. The developer and manager of the London docklands estate reported a 14.7 per cent annual fall in the value of its property holdings to £6.8bn in 2023. Independent valuers heavily marked down its office buildings, which make up a majority of the portfolio, to £4.3bn. This has been offset by rising retail values and steady residential assets.
Adam Neumann has submitted a conditional bid of circa £500 million for WeWork, the bankrupt co-working company he fronted until 2019.