Camden

CoStar reports that Royal Mail and its Parcelforce Worldwide vision have put up Royal College Place for sale, one of the last major land parcels in Kings Cross. CBRE is marketing the four-acre freehold site, which is identified as having major development potential.

City of London

Property Week reports that Obayashi Properties UK, a subsidiary of Japanese construction group Obayashi Corporation, has bought 60 Gracechurch Street for around £160m from German investment and asset manager KGAL Investment Management. The 13-storey 127,000 sqft office building was first built in 1997 and is currently leased to German insurer Allianz until 2026.

EG reports that plans for Hershten Properties’ 32-storey mixed-use office tower at 85 Gracechurch Street, EC3 have been recommended for approval by City of London planning officers. If granted planning, the block will provide 376,737 sqft of offices with retail and leisure offerings alongside a new public hall and public space that provides a new access gateway to Leadenhall Market.

EG reports that figures released on Tuesday show that the number of major planning applications submitted in the Square Mile during the Covid-19 pandemic was up by more than 30% on the three years before. The City of London corporation reported that 56 major planning applications were submitted in the borough in 2020, 2021 and 2022 compared with 42 in the previous three years, demonstrating continuing investor confidence in the City

City of Westminster

The Architects Journal reports that architects Buckley Gray Yeoman have been appointed for a proposed overhaul of Landsec’s Portland House – a 29-storey Brutalist landmark in Victoria. The 27,900 sqm scheme, understood to have a budget of around £380 million, includes a cleaned and refurbished façade, new floor-to-ceiling windows throughout, a level 30 rooftop extension with roof garden, and a new two-storey building in Bressenden Place housing a double-height reception space.

Westminster City Council has announced the results of the London Heritage Quarter BID ballot, with the organisation successfully renewing three of their BIDs for Northbank, Victoria Westminster and Whitehall, with Whitehall being a renewal and alteration ballot. Each BID received strong support, with 94.5% of respondents voting in favour of Northbank, 97.9% of respondents voting in favour of Victoria Westminster and 81.3% of respondents voting in favour of Whitehall.

EG reports that Alan Sugar has appointed CBRE to market 215-227 Great Portland Street in the West End. The seven-storey GPS House is currently used as office space, with CBRE looking to attract offers of around £55 million.

Westminster City Council has launched Westminster Green Investment, a new scheme enabling residents to invest in green initiatives within the local community to support the council’s Fairer Environment target of becoming a net zero Council by 2030 and a net zero city by 2040.

Islington

CoStar reports that Warner Bros has appointed JLL to sublease around 200,000 sqft of floorspace across its two headquarters buildings at 160 Old Street and 98 Theobalds Road. The company currently occupies the entirety of both buildings, with its lease at 98 Theobalds Street expiring in 2034. It took up occupancy at Warner House in 2018  after the building underwent a thorough refit.

Royal Borough of Kensington & Chelsea

BE News reports that developer Atenor has agreed a deal for the regeneration of a 1.5 acre site in Westbourne park with joint venture partners Ascendal and YOO Development. The regeneration is expected to provide a residential-led mixed-use development, which will benefit from strong transport links and a unique canal and park-side location.

Southwark

EG News reports that Art-Invest Real Estate has submitted detailed reserved matters applications for Canada Water Dockside, SE16, as it gets the next steps for the 4.5 acre site underway. The Bjarke Ingels and HWKN Architecture-designed scheme includes three HQ buildings comprising 1.5 million sqft of offices as well as restaurants and new public realm. Southwark Council resolved to grant outline planning consent for the development in March 2022.

BE News reports that architect Stanton Williams has been appointed to draw up plans for a 300,000 sqft building with the potential to support innovation and life sciences businesses at Canada Water. The practice has been appointed by developers British Land and pension fund AustralianSuper, with the project forming part of the British Land masterplan for the area.

EG Radius reports that revised plans for Maya and Veld Capital’s hotel at 160 Blackfriars Road SE1 have been approved by Southwark Council. The duo bought the site in October 2021 and will now develop a new 222-bed hotel which has already been pre-let to Munich-based hotelier Motel One.

Tower Hamlets

East London Lines reports that the Chinese Embassy has renewed calls for UK co-operation regarding its planned move to the Royal Mint complex in East Smithfields. The Chinese government purchased the building in 2018, but Tower Hamlets planning committee rejected proposals for the new embassy late last year. The GLA upheld the committee’s verdict in January 2023, finding that there was “no sound planning reason for the Mayor to intervene” in the ruling. China has now renewed its calls for the UK to intervene, stating “China urges the UK to fulfil its relevant obligations. Chin firmly opposes the relevant decisions by Tower Hamlets Council out of factors beyond planning itself.”

Wandsworth

CoStar reports that W.RE has let more than 33,000 sqft of its mixed-use redevelopment project at former department store Arding & Hobbs in Clapham Junction. The London-based developer and asset manager’s refurbishment, which is set for completion in Summer 2025, will offer 14,905 sqm of office and retail space in the Grade II listed building which was first built in 1912 as one of South London’s first purpose-built department stores.

General

Property Week reports that Gerald Eve has become the latest UK consultancy to be snapped up by US-based commercial real estate services business Newmark Group as part of the latter’s move towards increasing revenue generation internationally. The purchase, for an undisclosed amount, includes all of Gerald Eve’s nine UK offices.

Property Week reports that the boards of housing associations Network Homes and Sovereign have agreed to merge and become a new housing association called Sovereign Network by October 2023. Sovereign Network will have more than 82,000 homes, serving over 210,000 residents across London and the south of England, Network Homes said.

Property Week reports that BNP Paribas Real Estate has estimated £41bn of international investor ’dry powder’ is targeting central London office and retail assets this year, in a ‘triple-tiered’ buyer landscape.The figure is based on the estimated total capital waiting to be deployed in completed and pending deals, plus BNP Paribas Real Estate’s market intelligence through its global network and private banking platform.

Property Week reports that proposals put forward by developer Pocket Living as part of the consultation on the National Planning Policy Framework (NPPF) have received major backing this week, after research from LDS Guarantee found 1.6 million new homes could be delivered this way. Under the proposal, backed by around 40 developers and this week endorsed by Barrett Developments, if developers contribute at least 50% of affordable housing on smaller brownfield sites under one-hectare, local authorities should vote in favour of the development, with sites not requiring viability testing.