The Property Ticker: Microsoft revives plans for large Slough data centre; Occupiers emerge as ‘increasingly important buyer‘ of regional offices; IWG announces the acquisition of Wojo... and more

Research evidence excerpt

J P M O R G A N

Europe Equity Research

10 August 2026

The Property Ticker

Microsoft revives plans for large Slough data centre;

Occupiers emerge as ‘increasingly important buyer’ of

regional offices; IWG announces the acquisition of

Wojo… and more

Research Highlights

European Property

Neil Green, CFA AC

**Don’t Miss** European Property 2026 Outlook - We go again (here)

Derwent London PLC: 1H26 Conf. Call: Operational strength continues

as focus shifts to NTA (here)

Tritax Big Box: 1H26 Conf. Call: Expanded data centre pipeline and

embedded rental growth support 65% EPS growth ambition by 2031

(here)

Derwent London PLC: EPS guidance upgrade vs. some NTA softness 1H26 First Take (here)

Tritax Big Box: ABB to fund next wave of data centre development,

upping EPS growth ambition to +65% to 2030/31: 1H26 First Take (here)

Vonovia SE: 1H26 Conf. Call: Moving Parts… a bit of deja vu (here)

LEG Immobilien: 1H26 Conf. Call: H2 expected to drive earnings

recovery, with buybacks waiting on LTV target (here)

LEG Immobilien: Inline - progressing on plan operationally and

encouraging to see values rise in 1H: 1H26 First Take (here)

Warehouses De Pauw: 1H26 Conf. Call: Normalized demand, stable

valuations and Germany expansion (here)

Warehouses De Pauw: Focus to remain on ARGAN: 1H26 First Take

(here)

Unibail-Rodamco-Westfield: 1H26 Conf. Call: A strong platform, robust

operations and looking to the front foot (here)

Warehouses De Pauw: Focus to remain on ARGAN: 1H26 First Take

(here)

CTP NV: 1H26 Conf. Call: Operational strength intact, investor focus

shifts to leverage and valuations (here)

Primary Health Properties: 1H26 Conf. Call: Synergies coming through,

hospital JV next key milestone (here)

Unibail-Rodamco-Westfield: The best of both worlds – part 2: Increasing

PT to €120 (here)

Unibail-Rodamco-Westfield: Another positive endorsement for retail

property: 1H26 First Take (here)

(44-20) 7134-4478

J.P. Morgan Securities plc

Krishna Sathwik Beechu

(91-22) 6157 5847

J.P. Morgan India Private Limited

Vonovia SE: Solid rental operations vs. environment for disposals remains

challenging - interest rates to remain in the (stock’s) driving seat for now:

1H26 First Take (here)