MORNING NEWS: Regent Quarter sale revived, housebuilder and high street ups and downs

In this morning’s news, Abu Dhabi’s sovereign wealth fund, which is advised by LaSalle Investment Management, is preparing for a £270m sale of a complex of buildings next to King’s Cross station. Smaller housebuilders are reported to be struggling due to a lack of finance, while those at the other end of the spectrum are fairing better. Last week’s record profit recorded by listed housebuilder Redrow, has this week been followed by a share placing. To the high street, where consumer spending continues to stutter, Britain’s seemingly insatiable appetite for bargains from Primark has again boosted profits at Associated British Foods. Expect more retailer updates this week, although perhaps not all will be so rosy. And while it’s not strictly property news, it may cheer developers with exposure to the City to learn that London has held onto it’s position as the world’s top financial centre, despite uncertainty about Brexit, according to the annual Z/Yen global financial centres index. Abu Dhabi sovereign wealth fund to sell Regent Quarter Housebuilders hit by a lack of finance Redrow chairman builds up to sale of 7% stake 2017 consumer spending heading for four year low Primark’s strong showing lifts Associated British Foods Four queue for the door as Carillion shakes up directors