In the spotlight this week:
Derwent London wins the right to buy London’s Moorfields Eye Hospital or a rumoured £200 million and is planning a mixed office/retail/hospitality destination.
Hospitality and leisure is under scrutiny in the wake of new covid restrictions designed to slow the spread of the omicron variant and a new report that looks at footfall in terms of wifi logins reveals up to 43% declines in the sector following the latest announcements.
While a report from Primonial REIM says the pandemic has emphasised the importance of having a home and predicts a bright future for resi investments, Greystar Real Estate Partners has formed a strategic partnership with a subsidiary of the Abu Dhabi Investment Authority to develop rental housing in the South East and has acquired the Fizzy Living brand. In Denmark, US-based Castlelake has sold residential property company Bostad to AP Pension.
In the UK, inflation is heading for 6% and the Bank of England has raised interest rates. Arden adds assets to its UK logistics portfolio, Henderson Park and Eurofund buy Hammerson’s Silverburn Shopping Centre just outside Glasgow at a 20% discount to valuation and Amazon Fresh opens three new stores in London bringing its total to 15.
Meanwhile, official UK statistics indicate a 1.4% increase in retail sales in November.
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