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BREAKING: Jonathan Fletcher, chief executive and founder of Endurance Land, is leaving the firm following the sale of the remaining share in the business to majority owner Nan Fung. Hong Kong-based Nan Fung has owned a majority share in the investment and development business since 2018. The group said Fletcher would be stepping down to “explore new opportunities”. Read more ⬇️⬇️⬇️ https://lnkd.in/eaJU63zw

EXCLUSIVE: Avant Homes has sold a portfolio of 127 single-family rental homes to a joint venture between Gatehouse Investment Management and The Carlyle Group for £26m. The deal will see the delivery of 45 homes at Avant’s Pavilion Acres development in Walsall, 42 homes at Eden Fields in Edenthorpe, Doncaster, and 40 homes at Bennerley View in Awsworth, Nottinghamshire. The agreement is the first of its type between Avant Homes and Gatehouse IM. Read more ⬇️⬇️⬇️ https://lnkd.in/enrpnpFN

Here’s your daily round-up of the latest news and views from EG. 🔬 Camden Council is close to entering an agreement with a joint venture between Lateral and Ballymore to bring forward a £500m mixed-use scheme in the borough, which has both affordable housing and life sciences elements. The proposals include construction of around 350 homes, of which around 170 will be genuinely affordable, alongside the delivery of more than 200,000 sq ft of commercial space for the life sciences, technology, and digital industries. 🛍 We’ve dug into the data behind Carpetright’s vacant stores following the company’s administration and sale. The portfolio comprises more than 130 individual landlords, with Columbia Threadneedle, M&G Real Estate, The Crown Estate, Landsec and British Land having some of the highest exposure in terms of retail store count. Retail park locations make up the bulk of the 239-strong in-administration portfolio, with 177 stores now being sold by CBRE. 🏢 While some corporate occupiers dial back their real estate requirements, buy-to-let peer-to-peer mortgage lender LANDBAY has increased its office space in the capital more than fivefold, moving to a new Kennedy Wilson-owned block. The company has relocated from its previous offices at Grosvenor’s 60 Buckingham Palace Road to 111 Buckingham Palace Road. 🏡 Avant Homes has sold a portfolio of 127 single-family rental homes to a joint venture between Gatehouse Investment Management and The Carlyle Group for £26m. The deal will see the delivery of 45 homes at Avant’s Pavilion Acres development in Walsall, 42 homes at Eden Fields in Edenthorpe, Doncaster, and 40 homes at Bennerley View in Awsworth, Nottinghamshire. 📈 In this morning’s listed real estate news, rents are rising at later living investor Residential Secure Income, while Capital & Regional has welcomed a “rapid re-leasing” of its retail space. And retail bellweather Next updated on trading this morning with figures well ahead of expectations. Full price sales were up by 3.2% compared with last year, exceeding expectations by £42m. Half prices sale sales were up 4.4%, against an expectation of 2.5% growth. Despite the strong first half, however, the retailer remained cautious for the full year, predicting an overall sales growth of 2.5%. There’s also news on Canary Wharf Group’s latest planning application on the estate, a tipped approval for Derwent and Lazari Investments Limited’s Baker Street redevelopment, and signs of a bottoming out in the US office market. All this and lots more here. https://lnkd.in/epV6gJXX

EXCLUSIVE DATA ANALYSIS: More than 230 stores across the UK and the Republic of Ireland were left vacant when Carpetright collapsed into administration last month, with just 54 stores and two warehouses rescued by rival retailer Tapi in a pre-pack deal. Administrators at PwC have appointed CBRE to offload some 239 Carpetright properties, with a swift deadline to sell the assets and raise cash for creditors. The agent is seeking offers for the leaseholds on individual sites or for portfolios of stores. Here, utilising data from EG RADIUS, we take a look at the stores left without a tenant, what the collapse means for towns and cities across the UK and which landlords have the biggest exposure to the retailer. ⬇ ⬇ ⬇ https://lnkd.in/e5ujcEkx

EXCLUSIVE: Camden Council is close to entering into an agreement with LATERAL and Ballymore to bring forward a £500m mixed-use scheme in the borough, which has both affordable housing and life sciences elements. The move comes after the process to procure a development partner was launched more than a year ago. The scheme, which sits in the heart of London’s Knowledge Quarter, comprises 3.56 acres across two council-owned sites, namely 120-136 Camley Street and 3-30 Cedar Way, N1. Read more ⬇️⬇️⬇️ https://lnkd.in/d-nWxCpf

Team GB may be clocking up the medals at this year's Olympic Games in Paris but we have our own sporting legend joining us at the Real Estate Futures event. Phyllis Agbo, senior development manager at Stories and former British Athletics Heptathlete will be joining us to share her "squiggly career" or untraditional route into real estate. This is your chance to ask Phyllis her top tips for navigating a career in real estate. Register for free here: https://bit.ly/3KkHFu2 EG's Future Leaders partners: CBRE, Clyde & Co, Knight Frank, Landsec and Nuveen, a TIAA company. EG’s Real Estate Futures event partners: British Land, GIA Surveyors, Maples Teesdale LLP, Shoosmiths and University College of Estate Management. #RealEstateFutures #EGFutureLeaders #CareerGrowth #RealEstate

Here’s your daily round-up of the latest news and views from EG. ❄ Former MWB Group chief executive Richard Balfour-Lynn, joint finance director Jagtar Singh and executive director Richard Aspland-Robinson have all been branded dishonest and deceitful by The Takeover Panel and given so-called "cold shoulder" bans. The panel claims that in 2009 and 2010 Balfour-Lynn, Singh, Aspland-Robinson and an uncle of Balfour-Lynn, Jeffery Eker, acted in concert to buy shares in listed company MWB to push their shareholding above the mandatory takeover trigger point of 29.9% and that the plan was kept secret, with no offer made. MWB owned the Liberty Store on Regent Street, W1, as well as the Hotel du Vin and Malmaison hotel chains. The scandal has been kept under wraps for more than a decade. The Takeover Panel has ordered that no regulated firm in the UK should agree to act for 10 listed directors. The “cold shoulders” range from one to five years. 🏡 The real estate sector has heralded Angela Rayner’s proposed changes to the National Planning Policy Framework to increase housing delivery in the UK. The deputy prime minister and secretary of state for levelling up, housing and communities yesterday set a housing target of 370,000 homes a year. She confirmed there will be “golden rules” for development on the green belt, with 50% of homes built on it being affordable. She said: “Delivering economic growth is our number one mission. It’s how we will raise living standards for everyone, everywhere. The only way we can fix our public services. So today I am setting out a radical plan to not only get the homes we desperately need, but also drive growth, create jobs and breathe life back into towns and cities.” British Property Federation chief executive Melanie Leech said: “This is an ambitious package of proposed changes to make the current planning system work better while Labour develops plans for longer-term and more radical reform. These measures send a clear signal of intent to deliver more homes. We need a multi-tenure approach to tackle the chronic housing supply shortage which sees social and affordable housing, homes for sale, and build-to-rent firing on all cylinders.” 📈 In this morning’s listed real estate news there are results from Shaftesbury Capital PLC and Taylor Wimpey plc, and portfolio updates from Schroders REIT and Picton Property Income Limited. 🗞 There’s also news on an upcoming student accommodation block set for Liverpool city centre, a £90m office sale in Mayfair and Knight Frank’s new home in Bristol. All this and much more here. https://lnkd.in/eNtDCTQg

🔥 Hot job of the week from EG Jobs 🔥 Executive Director - Place Welwyn Garden City, Hertfordshire Up to £109,387 per annum Click here to find out more and to apply https://lnkd.in/eFPr2F7r

SMEs’ sustainability demands are an opportunity for London landlords writes Sonal Jain, the head of sustainability at Workspace Group in a recent EG article. 'By focusing on the right areas, landlords can deliver improved environmental outcomes, while also achieving stronger financial performance, thanks to companies that want to make their home in sustainable buildings.' Read more: https://bit.ly/4c2VpVK Jain is joining the panel session 'Decarbonising Real Estate Portfolios with Corporate Power Purchase Agreements' at EG's ESG Summit on 5 November alongside Liz McKillop Paley, partner at Shoosmiths. Book your ticket today and save £45 on the standard price (£195): https://bit.ly/3WkoXJZ #ESGSummit #Sustainability  Bates Wells Evelyn Partners Shoosmiths

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. A tale of two consultants as the second of the big global agents releases its Q2 earnings. Where CBRE saw revenues rise by more than 8%, Cushman & Wakefield has reported a 5% decline. But that didn’t stop chief executive Michelle MacKay with her fighting talk. She claimed a solid set of results and set the business was now laser focus on paying down its debt and delivering growth.  “Our strategy for growth and the allocation of capital to drive our business forward is predicated on the philosophy that the world of commercial real estate has fundamentally changed, and if we want to win, old playbooks must be thrown out,” said MacKay. “The way that we approach and engage with clients incorporates a more integrated, built world. Silos must be broken down and the enterprise must be connected in the way that we recruit talent, manage relationships, and invest in our portfolio of services.” Over at SEGRO plc chief executive David Sleath is feeling equally powered up for H2 as he outlines plans to build a major data centre portfolio. Data centres now account for 10% of SEGRO’s asset base and Sleath believes the sector offers a “1.2GW future opportunity” for the REIT. “We’ve got this incredible opportunity, [in Slough] and elsewhere,” Sleath told EG. “The demand has been supercharged because of AI and the only constraint, frankly, is the speed at which we can get sites ready with power and planning consent to be able to meet that demand. I cannot ever remember a time when it is literally ‘build it and they will come’.” Positivity is contagious with many now predicting that the floodgates holding back the great wall of capital eyeing the UK might be about to give in. Fresh research from BLME found that Gulf investors were ready to splash the cash in the UK as it entered a ‘once-in-a-decade economic alignment’. Elsewhere Jefferies analyst Michael PREW has uttered the words that will be heaven to every listed landlords’ ears, with a proposal to drop NAV from its research notes. “NAVs are still the REIT lingua franca as UK real estate is mostly leveraged on bank debt and sensitive to LTV covenants,” Jefferies said. “We think something is being lost in translation and NAVs don’t appear to be the concrete ceilings on deal making they used to be.” And today is the day consultation on the NPPF is opened and secretary of state Angela Rayner outlines her plans to get Britain building again. Real estate will be looking for some sensible changes to help speed up the system, reduce red tape and make development more viable. Plus a date for your diary. 30 October will be new chancellor Rachel Reeves’ first budget. Could this be the one where the property sector gets its voice heard? All that and SO MUCH more in you EG MORNING NEWS ⬇ ⬇ ⬇ https://lnkd.in/dSR69b8K