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Flexible office space transforming US commercial property sector

Flexible office space transforming US commercial property sector

An image from the CBRE report on flexible office spaceA new report from CBRE claims that the US market for flexible office space will generate significant growth over the next decade, even in the event of a recession, as flex operators consolidate and forge financial partnerships with building owners. More →

London commercial property market continues to thrive

London commercial property market continues to thrive

The London commercial property market continues to thriveJuly saw some of the largest deals complete in central London this year, says Savills, with a total of £1.394bn transacted in the West End and the City of London across 13 deals, representing a 185 percent increase on the £489m transacted in June. The real estate adviser highlights the low exchange rate coupled with high demand as the key factors behind the ongoing drive for deals in the London commercial property market. More →

Commercial property sector shifts focus to wellbeing in response to tenant demands

Commercial property sector shifts focus to wellbeing in response to tenant demands

Wellbeing is an increasing focus for the commercial property sector A new report from the Urban Land Institute (ULI), claims that the wave of interest in wellbeing in the UK is expected to translate into significant investment from the commercial property sector over the next three years. The report, Picture of health: the growing role of wellbeing in commercial real estate investment decision-making, has been published by the ULI UK Sustainability Forum to highlight the rise of wellbeing investment in commercial buildings. The report from ULI UK was sponsored by E.ON and addresses questions about the investment case for incorporating wellbeing into buildings and how to measure its impact. More →

Commercial property investors losing appetite for UK

Commercial property investors losing appetite for UK

London commercial property skylineEnthusiasm among international investors for the UK commercial property market has continued to wane over the past quarter, according to BrickVest’s latest commercial property investment barometer. According to the data ,capturing the views of over 6000 international professional real estate investors, only 27 percent view the UK as their preferred market, a 4 percent fall in the past 12 months. More →

Sharp fall in Scottish commercial property market

An analysis of commercial property sales during the first quarter of 2019 from the Scottish Property Federation (SPF) claims that total the value of sales in Scotland fell by 21 per cent compared to the same period in 2018. The drop in value was largely driven by fewer high-value transactions for this period, with the number of £5m+ sales down by nearly one-third compared to Q1 2018. More →

Central London commercial property market investment up over a quarter

Central London commercial property market investment up over a quarter

Commercial property investment in Central London (the City and West End) rose to £3.2 billion in the first quarter of 2019, a 28 percent increase on the £2.5 billion invested in Q1 2018, according to new data from Savills. The firm also claims that investment volumes in Central London in Q1 2019 were also higher than those in Q1 2015 before the UK’s referendum to leave the EU, when they reached £3.14 billion.

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Commercial property investors underestimate risks of climate change

Commercial property investors underestimate risks of climate change

Melting ice showing climate changeInvestors in commercial property are underestimating the risks associated with climate change, including more frequent and intense extreme weather events, and need to rethink their assessment of asset vulnerabilities, according to a new report from the BlackRock Investment Institute.

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RICS’ new commercial property service charge rules come into effect today

RICS’ new commercial property service charge rules come into effect today

RICS' new commercial property service charge rules come into effect todayNew service charge rules which aim to ensure there are no hidden costs and clarity around disputes, come in to force today (1 April 2019) and are mandatory for RICS professionals. ‘Service charges in commercial property’ has been developed with industry leaders, including major property organisations and professional bodies to secure transparent, upfront and fair costs for businesses as part of the maintenance and upkeep of their building. Amongst the rules, any charges incurred by the tenant must be explained fully at the outset and in accordance with the terms of the occupational lease, whilst any upkeep costs not specifically mentioned or explained in a lease must be made irrecoverable from the tenant.

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Offices buck downward trend for UK commercial property market

Offices buck downward trend for UK commercial property market

Capital values across UK Commercial property fell by -0.3 percent in February 2019, according to the latest CBRE Monthly Index. Rental values fell by -0.1 percent and total returns were 0.2 percent. However, for the thirteenth consecutive month the Office sector recorded positive capital values, rental values and total returns. February 2019 recorded capital value growth of 0.1 percent and total returns of 0.5 percent. Rental values increased marginally by 0.1 percent. West End & Midtown offices were the only submarket to record a fall in capital values (-0.1 percent). Outside of London, UK offices pulled up the sector average with capital value growth of 0.2 percent in February.

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Political uncertainty continues to hold back UK commercial property market

Political uncertainty continues to hold back UK commercial property market

The Q4 2018 RICS UK Commercial Property Market Survey results continue to display mixed fortunes with changing shopping habits and uncertainty around politics remaining strong influences. The retail sector, with declines driven by the structural shifts in consumer preferences, is in stark contrast to the strong performance of the industrial sector over the quarter. In Q4 all-sector occupier demand declined for the third consecutive quarter, as the net balance moved down to -13% from -9% previously. The headline reading continues to be weighed down by declines in demand across the retail sector (net balance -58%), although the Q4 results also point to a slight decline in demand for office space (net balance -9%). At the same time, demand continued to rise in the industrial sector, with a net balance of +21% of respondents noting an increase in demand over the period.

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London remains top gateway city in the world for commercial property investors

London remains top gateway city in the world for commercial property investors

London maintained its position as the top city for global real estate investment in 2018, according to research published today by JLL. The report claims that investors continue to favour cities they are familiar with and that have well-established investment markets and high levels of transparency. Well-known, large gateway cities with the world’s deepest concentrations of capital, companies and talent continue to dominate the top ranks. Twelve cities–London, New York, Paris, Seoul, Hong Kong, Tokyo, Shanghai, Washington DC, Sydney, Singapore, Toronto and Munich–have appeared in the top 30 ranking every year for the past decade and account for 30 percent of all real estate investment. More →

Don’t be a turkey, get on the commercial property gravy train

Don’t be a turkey, get on the commercial property gravy train

Last week, the RICS Commercial Property conference tackled the biggest issues impacting the built environment sector, arming delegates with fragments of the formula for future success. The morning CEO Question Time panel put a trio of CEOs in the spotlight. In addition to airing concerns about the current political climate, rapidly shifting societal attitudes, diversity and inclusion, the ageing population coupled with the ongoing housing shortage, climate change and the complexities involved in exploring new business models to drive and diversify revenue, they all zoomed in on the accelerated pace of change we’re witnessing, crowning it the key challenge for today’s C-suite.

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