RealCast: Canary sings, Gap closes, NY builds in Lego, energy surge, Athens go-ahead
In the spotlight this week
The UK’s housing market, where price inflation has been driven by the availability of low interest rate mortgages and a post-pandemic drive for more space and green surroundings, was also boosted by a stamp duty holiday. When that finished at the end of June, it caused record house price rises.
Meanwhile, in the UK office market, Barclays Investment Bank announced plans to move all staff to its Canary Wharf headquarters, shrinking space requirements elsewhere but bringing welcome news for Canary Wharf .
In other negative UK news, the post-Brexit financial services deal with the EU has not materialised and retail took another hit when Gap declared it will close 81 stores.
However, in a more positive glimpse of the future of retail, a massive “immersive” Lego store is planned for New York’s Fifth Avenue, illustrating how stores could function in the future.
While an AEW report takes an analytical look at the impact of the transition to net zero on real estate returns, infrastructure raises its head as the need for green electricity generation and electric vehicle charging facilities increases.
And in Athens, the €8 billion Helicon regeneration project gets a green light…
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