Office for National Statistics has revised GDP growth down from 0.6% to 0.5% in Q2 2024, with manufacturing and services growth lower than previously recorded.

The Institute of Directors (IoD) Economic Confidence Index, which measures business leader optimism, continued to fall in September, to -38 from -12 in August, the lowest level since December 2022 (-58).

abrdn Property Income Trust (API) has agreed to sell the property portfolio of abrdn to GoldenTree Asset Management for £351m.

ALMCOR is to sell a portfolio of retail parks for c. £100m and a NIY of 7.75%. The parks are Nova Scotia RP, Blackburn; Cardiff Bay RP; Gallagher RP, Scunthorpe; and Phase II of Clifton Moor RP, York.

Castle Quarter retail and leisure scheme in Norwich has been put up for sale for £23.55m+ by the joint LPA/fixed charge receivers. The sale price reflects a net initial yield of 10%.

Festival Place Basingstoke (1.1m sq ft) has been put up for sale by receivers BDO.

British Land has raised £300m in a share placing to fund the acquisition of seven retail parks from Brookfield for £441m (NIY 6.7%) – in Falkirk, Middlesbrough, Rugby, Telford, St Helens, Nottingham and Waterlooville

Legal & General Investment Management (LGIM) is selling BTR schemes in Bath (171 homes) and Glasgow (324 homes) with a combined value of over £140m.

M&G Real Estate has agreed a £50m construction loan to Benson Elliot (Acquired by PineBridge Investments) and a £150m refinancing deal with MetroBox.

Co-op is set to install solar panels on up to 700 sites across its food, funeral care and logistics portfolio to bolster its green energy supply. Over the next three years the Co-op aims to deliver 30,000 MWh generation of solar energy, equivalent to 12,500 homes, through the introduction of up to 76,000 solar panels.

Mark Charlton – Real Estate Research Consultant at Waypoint