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£600M bid for Wembley Stadium falls through; South Korean JV in £270M London buy


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£600M bid for Wembley Stadium falls through; South Korean JV in £270M London buy

* Pakistani-American billionaire Shahid Khan withdrew his £600 million bid to acquire the Wembley Stadium in London from The Football Association Ltd. after he was led to believe that the potential purchase was being viewed as more divisive by football stakeholders.

Simon Jones, the national head of valuation at property consultancy Lambert Smith Hampton, was cited by Property Week as saying that the £600 million bid was too low and a price tag close to £1 billion was more suited for the asset due to its size.

* South Korea's quasi-banking group, MG, is believed to be KB Securities Co. Ltd.'s equal joint venture partner on the £270 million purchase of the 125 Shaftesbury Avenue property in London's Soho district, according to CoStar U.K. Seller Almacantar tapped Cushman & Wakefield and CBRE in May to divest the WeWork-leased prime office building for a yield of 4.25%.

UK and Ireland

* Apartment-hotel developer Native unveiled a £250 million development program for a new lifestyle-focused initiative, which aims to open co-working, dining and retail area in its hotel developments in the U.K., PW reported. The company plans to launch new sites in Birmingham, Leeds and Bristol over the next two years, with two additional locations in London's Soho and Covent Garden areas, according to the report.

* Deutsche Bank signed a deal for the acquisition of a €300 million portfolio of property loans from Ireland's National Asset Management Agency, The Irish Times reported. The Project Lee fully performing loan portfolio was associated with O'Callaghan Properties, a local developer based in Cork, Ireland, with the loans secured on properties in and around Cork city, the report added.

* Triple Point Social Housing REIT PLC raised gross proceeds of nearly £108.2 million from the upsized issuance of 105 million new ordinary shares at £1.03 apiece. The shares are expected to be admitted to the premium segment of the Official List of London Stock Exchange Oct. 22.

* Peel Land and Property Ltd. is launching a new homebuilding division later in 2018 and has appointed Harworth Group plc's former managing director, Phil Wilson, to become its CEO. Peel has over 34,000 plots for family homes in the pipeline or on site, and an additional 10,000 in the planning system.

* Canada Life Investments paid roughly £90 million to buy the Rotherham council's 172,000-square-foot headquarters in Rotherham, U.K., from Evans Regeneration Investments, CoStar U.K. reported.

* Private equity group Apache Capital Partners obtained a four-year £58.5 million senior debt facility from LaSalle Investment Management to finance its £90 million Lexington build-to-rent development in Liverpool, U.K., PW reported. The 34-story building is set to contain 325 rental apartments and will form part of Peel Group's £5.5 billion transformation masterplan for the Liverpool Waters area, the report added.

* Real estate investment company Dominvs hired JLL and CBRE to market the 3.6-acre Euro House mixed-use development in Wembley, London, and is expected to receive bids upward of £40 million, EGi reported.

* Developer Fraser Morgan chose Warden Construction to build its £26 million student housing project in central Sheffield, U.K., Construction Enquirer reported. Works on the 289-bed development are slated to begin in February 2019, subject to planning approval.

* According to Molior London, works on about 3,700 new residential units in London began in the third quarter, marking the lowest figure since the same period in 2012, due to worries over Brexit and stamp duty changes, London's Financial Times reported. The current third-quarter number takes the total of new homes started in the first nine months of 2018 to approximately 17,000, also reflecting the lowest level since 2013.


* Casino Guichard-Perrachon Société Anonyme signed an agreement to dispose of 14 Monoprix properties to SGAM AG2R La Mondiale for €180 million, with the seller to receive the sale proceeds by January 2019.

Luxembourg and Belgium

* Under its euro medium-term note program, CPI Property Group SA issued €600 million worth of 1.45% regulation S senior unsecured notes due April 14, 2022. Investor demand for the notes exceeded €1.7 billion, as existing and new buyers placed more than 100 orders.

* Home Invest Belgium SA bought a 51.43% stake in Sunparks De Haan NV, the owner of a tourist spot and leisure facility complex in De Haan, Belgium, in a deal valued at about €75 million. Home Invest acquired the stake through its new subsidiary with Belfius Insurance, infrastructure investor TINC and infrastructure fund DG Infra Yield.

A French equity fund managed by Atream owns the remaining stake in Sunparks De Haan.

Germany and Austria

* Singapore's Frasers Property Ltd. wrapped up the purchase of three companies that own logistics properties in Austria under a roughly €285.2 million deal signed in February. Frasers had agreed to acquire the project and asset management business of Alpha Industrial GmbH & Co. KG, as well as 22 of its logistics and industrial assets in Germany and Austria.


* Cushman & Wakefield Inc. entered a deal to manage Skanska AB's 12 office buildings in Poland. The framework management agreement includes the 395,000-square-foot High5ive A&B building in Krakow and the 300,000-square-foot Brama Miasta B block in Łódź, among others. Cushman & Wakefield will also manage Skanska's approximately 1.2 million square feet of office space under development in the cities of Gdansk, Łódź, Warsaw and Krakow, according to a release.

Middle East

* During a general meeting, Dubai-based Emaar Development PJSC consented to distribute a total of 1.04 billion dirhams as a special cash dividend to its shareholders, Reuters reported.

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Celestyn Wong contributed to this report.