The Property Ticker: Covivio 1H update; US hedge fund doubles up at Landsec’s £450m Piccadilly Lights scheme; Burnham considers rent freezes to tackle cost of living… and more

Research evidence excerpt

The Property Ticker: Covivio 1H update; US hedge fund doubles up at Landsec’s £450m Piccadilly Lights scheme; Burnham considers rent freezes to tackle cost of living… and more

the third floor becomes available

for lease. The leasing momentum comes as Landsec markets the landmark mixed-use

asset for more than £450m, potentially marking the largest single West End investment

sale since 2012. The sale includes the freehold of the iconic Piccadilly Lights and 58,000

sq ft of prime retail space, while Landsec would retain operational control of the

advertising screen and 95% of its income through a long lease arrangement. The

transaction aligns with Landsec’s wider strategy of recycling capital out of offices and

increasing exposure to retail and residential assets, with proceeds helping to fund a

planned £3bn shift away from offices and non-core holdings. (Source: CoStar)

• Burnham considers rent freezes to tackle cost of living: Andy Burnham signalled that

his new government is considering a range of near-term cost-of-living measures,

including potential rent freezes, bus fare caps and lower energy bills, with details

expected imminently. He said the aim is to provide households with quick relief while

remaining committed to existing fiscal rules, although he suggested he may use available

borrowing flexibility within those constraints. Burnham is also reviewing the freeze on

income tax thresholds, acknowledging its impact on lower-income households, while

appearing less committed to reintroducing a 50p top rate of income tax. For property

markets, the main concern is the possibility of rent controls. While intended to ease

affordability pressures, similar measures in Scotland were widely criticised for reducing

investment incentives and constraining rental supply.