News – Deals – Market
Asda’s New Town Centre in Park Royal
Asda has today unveiled plans for a transformational Mixed-Use Redevelopment of its ten-acre Park Royal site in North West London.
Has WeWork Finally Shut the Door on Neumann?
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.
Life Sciences Demand for Space Cannot Fill Every Void
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.
Canary Wharf Offices Lose Nearly £1bn in Value
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 Makes Conditional Offer to Buy WeWork
Adam Neumann has submitted a conditional bid of circa £500 million for WeWork, the bankrupt co-working company he fronted until 2019.
Moody’s Quit Canary Wharf
How significant are the recent financial services departures from Canary Wharf or is the area just, reinventing itself and moving with the times
18 Blackfriars Road £1 Billion Development Plans Revised
Hines have lodged revised plans for their office & residential redevelopment of 18 Blackfriars Road, after discussions with Historic England & Southwark Council
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.
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.
James Couse joins the team
We have a new member of staff, James Couse. James brings to us his extensive agency expertise in the City and London niche markets and we are very happy he has joined
Overheard in the
B W V
Seriously, You cannot be Serious?
A couple of “amusing” cold emails came across Mr F’s desk recently and were sent to the BWV for comments.
First off from someone at brandifymybusiness.com we have:
Here’s a little fun: Why did the real estate agent always carry a pencil? In case they came across a sketchy area! Sorry to jump in with a joke. There’s a bigger picture I’ll be painting in my next message
Not funny, not grammatically close to correct, and not even a company (the domain is parked by our friends at GoDaddy)
Next we have from Studio 185 a bit of visual content…
…your non apology is not accepted!
If you feel the need to unleash the Easter Punny put a bit of thought into it – dont just give it to the WEX junior
Darcy, mate. Show them how its done!
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