Tchenguiz’s property plan
The Sunday Times reported that property tycoon Robert Tchenguiz is planning to unlock the value from J Sainsbury’s property portfolio. The paper said that he wants to create a 50:50 joint venture with the supermarket group on its property assets which he values at up to £10bn. It comes amid speculation that investment company Delta Two is plotting a takeover bid for Sainsbury’s.
Landlords move to force tenants to conserve energy
New “green leases” could mean penalties for office workers leaving lights on and using too much water, according to the Sunday Telegraph. Hammerson, Hermes and DTZ are amongst the companies considering linking energy use, water consumption and waste management to financial penalties and incentives.
Workers who do not turn off lights could face fines
Science Museum II thinks big to liberate locked-away gems
The Times on Saturday reported that the Science Museum is to put its entire collection on permanent public view by transforming its satellite near Swindon into a vast interactive gallery. It will involve a £64m redevelopment of a disused airfield at Wroughton, Wiltshire.
Leslau’s luxury retreat
The Sunday Times revealed that property entrepreneur Nick Leslau has teamed up with Bruce Ritchie’s Residential Land to build a luxury residential development in Barbados. The site, which was bought for around £11m, is expected to feature between 16 and 20 beachfront town houses
Rise in companies offering to buy and rent back debt hit-homes
The weekend FT reports that dozens of fledgling property companies specialising in buying homes from homeowners struggling with mortgage repayments have started up in recent months. The paper says the explosion is another sign of the growing level of indebtedness in the UK.
China bulldozes its urban heritage
The weekend FT’s news analysis looks at China, where the paper says many of the old buildings of Beijing and Shanghai are being lost in a headlong drive for modern high-rise architecture.
Veteran to be forced out for Olympic Park
The Sunday Telegraph names the first person to be physically removed from his home on the future site of the Olympic Park. Ron Rowen, 75, has been given until Tuesday to leave his home before police and bailiffs move in. He has lived in the East London house since 1965.
Don’t tease the poor, Beijing tells up-market developers
The Mayor of Beijing has demanded glossy billboard adverts for luxury flats be toned down, reports The Sunday Telegraph. Giant flyposters promising “princely living,” “utmost prestige” and the chance of being “ultra distinguished” have been accused of fuelling tensions between the rich and the poor of the Chinese capital.
Sports village for Delhi river opposed
Opposition is mounting to New Delhi’s plans to build a permanent “games village” in the floodplain of the sacred River Yamuna, the weekend FT reports. The paper says that this has raised fresh concerns over whether India will be fully prepared to host the 2010 Commonwealth Games.
British Innovation Hailed
The Sunday Times said that a report from the National Endowment for Science Technology and the Arts (Nesta) has found that modern methods of construction were cutting costs and improving efficiency, while the techniques and management used in the construction of Heathrow’s Terminal Five were highly innovative.