Auction activity has increased markedly, with more lots offered and sold across the UK in June, alongside a higher total value of property transacted. The article suggests some landlords may be reviewing portfolios in response to the Renters Rights Act, while buyer demand for auction stock remains steady.
Leeds-based Torsion Construction has filed a notice of intention to appoint administrators after experiencing liquidity pressures and project-related commercial difficulties. The notice provides temporary protection from creditor action while directors assess funding and restructuring options.
A planned £2bn data centre in Loughton, Essex, is likely to be delayed because grid power will not be available in time for the developer’s intended opening date. The article also highlights wider UK data centre delays caused by electricity connection constraints and notes an Ofgem-backed initiative to standardise connection designs.
TwentyEA’s latest analysis says Build To Rent homes continue to achieve a rental premium over mainstream private rented properties across most regions. The report also argues that while traditional buy-to-let stock has declined over the past decade, overall rental supply has risen, with Build To Rent helping to offset losses in conventional landlord-owned stock.
Westmorland and Furness Council has approved an outline business case to repurpose the grade II-listed Penrith Town Hall from office use into a community and events hub. The £5.7m scheme would create flexible event, performance, youth, creative and innovation spaces, with a full business case due to be considered in December.
Former employees of collapsed modular builder Elements Europe have brought tribunal claims over the circumstances of their dismissal, according to administrators’ latest progress report. The tribunal process is delaying distributions to ordinary preferential creditors, while administrators continue asset realisations and expect to move the company into creditors’ voluntary liquidation.
Propertymark reports that rising tax, regulatory and compliance pressures in the residential rental sector are encouraging some investors to consider commercial property instead. The article notes stronger interest in industrial, warehousing and smaller office space, while larger offices remain subdued and retail demand is mixed.
Propertymark reports that some investors are shifting interest from residential buy-to-let into commercial property, driven by rising tax, regulatory and compliance pressures in the residential sector. The article notes that commercial investment is being viewed by some as offering a less restrictive framework, although it comes with higher entry costs and more complex transactions.
Liverpool City Council is preparing to consult on its latest draft local plan before submitting it to the Planning Inspectorate. The refreshed spatial strategy sets out land allocations intended to support delivery of 33,500 homes and 5.8m sq ft of employment space up to 2043, with adoption currently expected by September 2027.
