Sellafield Ltd has selected its preferred partners for the Project and Asset Care Execution (PACE) framework, a £3.6 billion initiative to deliver site-wide asset maintenance and construction. The initial nine-year framework covers process handling, decommissioning, and nuclear infrastructure. It focuses on off-site construction, local employment, apprenticeship investment, and small-business supply chain opportunities across West Cumbria through 2041.
Arada has submitted initial planning applications for its AED12 billion Thameside West regeneration project to the London Borough of Newham. The first stage will deliver nearly 1,500 homes, including two buildings providing 100% social rent. Spanning 47 acres in the Royal Docks, the landscape-led masterplan incorporates a seven-acre public park, a one-kilometre waterfront walk and plans for a new DLR station.
KKR and its European industrial platform, Mirastar, have acquired an eight-property UK logistics portfolio from Ares Real Estate funds. Spanning 2.7 million square feet across key distribution hubs like Milton Keynes and Doncaster, the fully occupied assets feature a nine-year weighted average lease term to break. Supported by strong sustainability ratings and investment-grade tenants, the acquisition expands Mirastar’s European presence.
Global investment firm Sixth Street has formed a co-operative agreement with Lloyds to fund the UK commercial real estate sector. The partnership will deploy Sixth Street's Asset Based Finance platform to provide property borrowers with scaled, flexible financing. The deal combines Sixth Street's London-based finance and global real estate teams to expand lending opportunities across the country while maintaining strict underwriting standards.
The UK government's housing agency, Homes England, has launched a £21.8 million revenue injection via the Council Housebuilding Support Fund to assist local authorities in developing affordable housing plans. Running through March 2029, the funding provides technical, staffing, and pre-development support to help approximately 75 local councils prepare successful capital grant bids under the government's flagship £39 billion Social and Affordable Homes Programme.
Hilton has agreed to a major expansion deal to bring 10 new Spark by Hilton hotels to the UK. Partnering with AG Hotels Group, the agreement adds 672 rooms across key English and Welsh locations. Set to open between late 2026 and 2028, the openings cover new regions for the brand, including its debut property in Wales as part of its ongoing international rollout.
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