St James’s Place’s decision to suspend dealing in its £826m property unit trust is the latest in a series of gatings that have led to fears that such funds have reached “the point of no return”. With views from @JohnForbes_JFC, @Peaks25 and more.
https://t.co/rAGGM7CNUg
Whether they upsize or downsize, these corporates will relocate to flexible, best in class, green, service-led offices.
This data highlights both the threat to owners of poor quality ‘stranded’ offices and the opportunity to create green buildings to satisfy occupier demand.
Research: 47% of global firms expect to replace their corporate headquarters in the next three years, up from 40% two years ago, according to a study by @knightfrank and @CresaCorp https://t.co/W5rpHdsvEf
The economics of development mean this is only an ‘opportunity’ if the stranded assets with forthcoming expiries collapse in value to a level where a risk-taker can make an acceptable return. It is a zero-sum game. It is only an opportunity if existing owners lose.
Knight Frank say 54% of offices in South East do not meet energy ratings being imposed in 2027. The agent says that leases covering 4.5m sq ft will expire by 2025. This, therefore, creates “development opportunities” And a very big threat to threat to those who fail to upgrade.
I’m afraid that predictions of office values falling by up to 5% over the next few months really don’t acknowledge the reality facing the sector. There are few willing sellers so price discovery is hard. Based on our disposals falls of 40% are more likely with a weakening outlook
This year’s Christmas Biscuits at Shipnells Farm brought together one Head of Art, Four Graphic Designers and nine creatives. Apologies for the x-rated entries to this year’s competition.
Tomorrow I again join 100 🚴♂️ adventurers as the @Ride25World quest continues. Year 9, 458 miles, 5 days heading east across Eastern 🇹🇷 all for https://t.co/qPQ1gSCiwF. More at https://t.co/tSbT0wMCwM
Or to donate to support 1MoreChild https://t.co/8n6pmAJ37j
Spent the morning sharing our @MayorofLondon @LDNchildobesity ‘Every Child A Healthy Weight’ calls for action with @10DowningStreet - much opportunity to transform children’s lives and beat #obesity if all leaders choose to prioritise and work together.
It was fantastic to host the Year 5 Caversham Cluster Netball Tournament this afternoon. All the children had a fantastic time and the snow held off (just about!)
Most interesting part of the letter is Steve Bannon throwing in one of the greatest Animal House references of all time in his discussion with Rudy Giuliani. #doublesecretprobation#toga
I’m beginning to think the puppies weren’t entirely to blame for Wicketgate back in March. It appears that genetics were to blame as their mother has proved today. #Mollygate
Didn’t think the year could get any worse but then watched ‘We Can Be Heroes’ on #Netflix with the children. A new low for me and for Christian Slater. Damn you 2020.
@DalesRobson@jgulliford Pleased to see the sale concluded but, as ever, frustrated at the circumstances that require the fund to sell a quality asset like this in these market conditions.
Any retail disposal in the current environment is a decent outcome.
Cracking opportunity this for someone who believes that business parks will flourish in the coming years. A prime industrial estate thrown in as well. Not many assets of this quality available at 9% NIY and less than £100psf cap val.