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...Blackstone would also pay £20mn to acquire the land....
...to the National Planning Policy Framework (NPPF) introduced by Michael Gove at the Department for Levelling Up, Housing and Communities removed mandatory house building targets and reduced the amount of land...
...The property was previously owned by German national Wilhelm von Finck, Land Registry records show. Finck’s family office did not immediately respond to a request for comment....
...“There is clearly mounting frustration amongst housebuilders, and growing demand for practical solutions,” said Charlie Hart, head of development land at Knight Frank....
...The registered owner of the Chester Square house is Chester Ventures, according to UK land records....
...The building, part of British Land’s joint venture with Singapore’s GIC at Broadgate, is under construction and due to be completed in 2027....
...British Land declined to comment on the terms....
...The government will abolish the multiple dwellings relief from stamp duty land transaction tax....
...However, industry experts said that even fully tapping brownfield land will not be enough to meet long-term housing needs....
...The practice of holding a stockpile of land for future development was criticised, but the CMA found that so-called land banking was not significantly distorting competition and was mainly the result of...
...British Land forecast strong growth in commercial rents next year thanks to “resilience in the UK economy” and good demand from tenants....
...Joshua OliverYou are talking about a piece of land that has a building on it, and the building is just a problem, right, because it just costs money and it would be worth more if the building wasn’t there...
...Releasing greenbelt land could have a quicker impact on housing land supply. But sticking to politically less dangerous “grey belt” land could limit the scope....
...A sharp rise in borrowing costs last year and fears over sinking house prices triggered a slowdown in the market, with about 1mn homes sold nationwide according to Land Registry data, the lowest in a decade...
...[and] that housebuilders do not land bank unnecessarily,” the HBF said....
...advertising slogan delivered by celebrities such as Samuel L Jackson and Jennifer Garner, is the 12th-biggest US bank by assets....
...In the run-up to the Budget, Gove has announced some planning policy interventions, including proposals to create a “presumption in favour” of development on previously built-up land in large cities....
...Next year will bring buying opportunities in commercial real estate as the prices for good-quality property stabilise, landlord Land Securities has said....
...Housebuilders nationwide have cut costs and reduced the amount of land they are buying as their profits and output plummet....
...The change came alongside two other changes that are likely to cost those groups more — abolishing tax relief for some holiday lets in 2025 and ending the multiple dwelling relief from stamp duty land transaction...
...As Citi’s new head of banking, it also lands him in charge of its most troubled unit....
...But one message in particular caught his eye: it was from Allen, an old mentor, who had helped Kuwata land that first job at Huntsman....
...British Land said its office vacancy rate was about 4 per cent, half the London average....
...The developers will probably seek to make better use of the land around the base of the building, and the tower itself....
...Charles Palmer Auckland, New Zealand...
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