Magenta’s news round-up: 23rd November

Reports this week that Interserve is in dire financial trouble threatens to end 2018 much like it started – with the demise of a hugely influential construction and support services firm. Read on for Magenta’s pick of the news from the past five days.

Interserve sparks concerns as debts rise

Facilities management giant Interserve has announced that its debts would be higher than expected this year, leading to concerns over the company’s financial health. The group, which provides a range of services for schools, hospitals and government departments, said year-end debt would rise from the original estimated £575m-£600m to £625-£650m.

Read the rest of the article here.

Report points to ‘death’ of the commercial property lease

Released this month, our report is available to download and has been initiating conversations. Covering the report, FM World wrote: “Magenta’s report states that “increasing volatility is spurring businesses to adopt flexible approaches that allow them to stay responsive and manage uncertainty.”

Read the rest of the article here.

load our report here.

Foster + Partners proposes 305-metre-tall tourist viewing tower for London

If approved, the Tulip – a 305m-all tower topped with a viewpoint and rotating gondolas designed by Foster + Partners – will be situated to the Gherkin in London.

Foster + Partners has submitted its design for the tower, which would become the tallest structure in the City of London, for planning permission. If approved, the tower could begin construction in 2020, with an opening date planned for 2025.

Read the rest of the article here.

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Ben Keeley