J P M O R G A N Europe Equity Research 28 July 2026 The Property Ticker Unite and Merlin 1H update; Industrial investment sales reach £2.38bn in 1H; Smyths Toys buys £118m Midlands distribution hub estate; UK office construction falls…and more European Property Neil Green, CFA AC (44-20) 7134-4478 neil.d.green@jpmorgan.com J.P. Morgan Securities plc Krishna Sathwik Beechu (91-22) 6157 5847 krishna.s.beechu@jpmchase.com J.P. Morgan India Private Limited See page 4 for analyst certification and important disc ...