In the spotlight this week:
MIPIM September Edition was staged in Cannes, France, one of the the first steps back to real estate events – albeit slightly tentatively – as covid restrictions ease, and deal makers step up the pace.
For instance, Ikea is buying the former Top Shop on London’s Oxford Street, Trammell Crowe bought a former Arcadia warehouse in Milton Keynes and Facebook is likely to take Triton Square development at Regent Place in London, in one of several moves made by social media’s giants. In Germany, Patrizia has sold 12 food-anchored retail parks.
Savills, Tritax and Analytiqa have surveyed the booming European logistics market in the context of record annual take up and record investment volumes; a survey of the Cambridge market shows the strength of the life sciences sector; and Prelios’s sale of a one million square metre site in Turin for a lithium ion battery factory flags the potential emanating from the electric car market.
Meanwhile, Ivanhoe Cambridge, Bouwinvest and Greystar’s €1 billion student housing venture makes its first acquisition with a number of others in the pipeline, further indication if it were needed of the strength of the PBSA segment of the market.