Penta Real Estate has formally entered the UK property market by acquiring two residential development sites in London's Canary Wharf and Nine Elms. The projects, which represent an investment of over GBP 700 million, will collectively deliver more than 680 new apartments. The developments, which began construction this year and are set for completion in 2029, are being undertaken through an equal-share joint venture with the established London developer Ballymore.
The Grand, York has completed a £2.8 million renovation to launch SubRosa, a state-of-the-art new spa located within the hotel’s historic vault. The spa offers a unique wellness concept blending global traditions, such as Moroccan-inspired marocMaroc rituals, with scientifically advanced products, notably becoming the first spa in the North of England to offer SeaBody’s marine bioactive treatments.
Verdion and Legal & General’s Industrial Property Investment Fund (IPIF) have secured a key urban logistics development site in the London Borough of Greenwich. The 2.6-acre brownfield site on Nathan Way has a GDV of £30 million. This deal marks the first collaboration between the two firms. Verdion will act as the developer, creating 78,987 sq ft of new floorspace across six small to mid-box units.
NG Bailey has secured a 115,000sqft industrial unit near Leeds to support Tata Group’s £4bn battery gigafactory, the UK’s largest electric vehicle battery plant. The refurbished Shawcross 115 facility, leased from Crossbay, will serve as a key production and engineering hub, providing enhanced capacity for the project and strengthening the region’s strategic role in the EV supply chain.
Lukoil PJSC plans to sell its international assets amid US and UK sanctions targeting Russia’s largest oil producers. The process is being conducted under a wind-down licence from the US Treasury, with potential licence extensions considered to maintain operations abroad.
Harleyford Capital and Fiera Real Estate have secured a £25.5 million debt facility from QuadReal Property Group to fund Watford Works, a 180,000 sq ft Grade A logistics scheme in London. The project, targeting BREEAM Outstanding and EPC A+ ratings, is due for completion in Q4 2026.
![[IRHM] logo](https://irhmagazine.com/wp-content/uploads/2025/08/IRHM-AWARDS-2025-1024x683.jpg)
