LONDON-The head of government finances has defended plans for a €44.9-billion ($55.5-billion) sale of assets to fund social housing, transport and regeneration projects. Gordon Brown, in giving evidence to a powerful committee of MPs, stressed that the target was attainable.

LONDON-The Crown Estate reports an increase in surplus revenues despite tough trading conditions across the property industry. The portfolio is now valued at €6.9 billion ($8.6 billion) making the enterprise one of Britain's biggest landowners.

LONDON-The 22-asset Brook retail portfolio is now in the hands of Hallandale. The strategy is to infuse some capital into the single-let store holdings and warehouses before flipping the assets.

LONDON-A senior government adviser has called for the introduction of a US-style REIT in the UK, so adding to the pressure for a relaxation of tax restrictions on residential property development and investment.

LONDON-The board of Wiggins has warned shareholders to support efforts to raise capital or the company faces administration. The move follows the collpase of an attempted reverse takeover by Glasgow-based LNC.

LONDON-Paul Reichmann has tried to play down speculation on whether or not he will be able to submit a bid for Canary Wharf, the company he founded.

LONDON-Morgan Stanley and Simon Glick have increased their bid for Canary Wharf Group to 265p a share, effectively valuing the company at pounds 1.5 billion ($2.66 billion).

LONDON-Billionaire Saudi Prince Alwaleed Bin Talal may join the Morgan Stanley consortium bidding for Canary Wharf. The prince has been a long-term investor in Canary Wharf and currently owns 2% of the group.