Paper round: Ferrovial pushing to replace Metronet

Ferrovial in drive to replace Metronet on the Underground

The Independent on Sunday says that Spanish construction giant Ferrovial has met with Transport for London bosses to discuss taking over key Metronet tube projects. Ferrovial is one of the two members of rival consortium Tube Lines, which already carries out work on the Northern, Piccadilly and Jubilee lines.

Blair’s new home still not ready

The Mail on Sunday revealed that builders have not yet completed refurbishment work on Tony Blair’s new London home. The former PM and his family were supposed to move in today, but the paper reports the house still lacks running water.

Scotland in two hours by Gordon the Bullet Train

Government is preparing to launch a £10bn high speed rail link that would propel passengers from London to Glasgow in two hours, according to the Mail on Sunday. The paper says the plan could be approved as soon as Autumn this year. The 186mph train has already been nicknamed Gordon after the PM and a character from Thomas the Tank Engine.

Earls Court owner to sell half to Liberty

Property magnate Anthony Lyons has sold half his stake in the Earls Court and Olympia conference venues to Liberty International, valuing them at nearly £470m. The paper reports that the new partners are considering redeveloping Earls Court after the 2012 Olympics.

The higher they rise… a developer who’s caught in a towering inferno of criticism

Land Securities chief executive Francis Salway is interviewed by the Independent on Sunday about the hazards of converting to a real estate investment trust (REIT), the troubled ‘walkie-talkie’ tower, and whether or not the company builds too many shopping centres. Land Secs conversion to a REIT will bring “long term, more normal market conditions,” he says, even though share prices have fallen by almost a fifth since it converted.

Tesco will sell your home for a £199 fee

The Saturday Telegraph reported that Tesco is attempting to provide a way for private sellers to list their houses for a flat fee of £199. The home would be advertised online and a Tesco for sale sign would be put up outside the property. Viewings and offers would then be arranged through the website.

Housing market grinding to a halt

The paper also predicted that the housing market will grind to a halt in autumn after research has shown that property is at its most overpriced since the last crash in the 1990s.

Hips law ‘riddled with loopholes’

Loopholes that enable homeowners to avoid the packs will make the scheme unenforceable as people will be able to turn a four-bedroom house into a three-bed house by removing the bed from the fourth room and renaming it the spare room. This will save them the £600 it will cost for the pack.

Mocked Olympic logo ‘evolves’

The organisers of the London Olympics have revamped the heavily criticised logo to carry the image of athletes.