British Land predicts post Brexit caution among investors

Property giant British Land is predicting a more cautious approach by London investors in the wake of the vote to leave the EU.

British Land reported a strong performance in the run-up to the referendum in a trading update to the City this morning.

But chief executive Chris Grigg added: “It is too early to properly assess the impact of the referendum result on the markets in which we operate but we do expect some occupiers and investors to take a more cautious approach.

“British Land has entered this period of post-referendum uncertainty in a robust position. We have a strong, resilient business with a clear strategy.”

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Elephant & Castle- London’s £500m Toblerone towers scheme approved

Ambitious plans for six new towers in South London’s Elephant and Castle regeneration have been nodded through by planners.

London & Regional Properties elephant & Castle Toblerone

The £500m scheme has been nicknamed the Toblerone towers because of the triangular shape of the main blocks ranging up in height from eight to 40 floors.

Designed by Skidmore, Owings and Merrill the buildings will provide a mix of 500,000 sq ft of office space and 400 homes.

Developer London & Regional Properties must first demolish Department of Health offices at the 1993 built Skipton House, London South Bank University’s Perry Library and the Keyworth Street Hostel for homeless men.

The developer has pledged to construct affordable housing to the value of £16.8m on several sites in the close vicinity.

Arup is the main structural and facade engineer with Norman Disney & Young deliver M&E design.


Skipton House


Plans include new subterranean theatre and music venue

Because of the scale of the proposed scheme the London Mayor will have the final say on the development plan.

Geoffrey Springer, head of development at London & Regional said: “We are proposing a significant investment in the regeneration of Elephant & Castle, which will celebrate the area’s cultural heritage.

“This will be an iconic development, providing new cultural and community space and, most importantly, new jobs and homes. The development will also deliver new open space and a vastly improved public realm, strengthening the ongoing regeneration of Elephant and Castle.”

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Ministers reassure house builders over million homes target

Communities Secretary Greg Clark and Housing Minister Brandon Lewis have reassured house builders that the Government’s construction target for a million new homes is still a “top priority”.

The pair met with the Home Builders Federation on Thursday in a bid to quell industry fears in the wake of the Brexit vote.

HBF members are reporting that all indicators show reservations and sales rates have not been affected by last week’s referendum.

House builders also restated their commitment to driving up supply and increasing construction of new homes.

Communities Secretary Greg Clark, said: “The need for new homes continues as does the Government’s commitment to getting them built and extending home ownership to anyone that aspires to own a home of their own.”

Peter Andrew, Deputy Chairman at the Home Builders Federation, said: “We were very pleased to hear the Secretary of State reaffirm the Government’s commitment to increasing housing supply.

“We welcome his reiteration of support for successful programmes like the Help to Buy: Equity Loan scheme which is underpinning demand and helping tens of thousands of buyers each year to take their first steps on the housing ladder.

“House builders remain confident in the underlying level of demand for housing and will continue to deliver the homes the country needs.”

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