UK Commercial Property Update Should institutions be worried about Renters’ Rights? By making life harder for unscrupulous landlords, the Renters’ Rights Bill may help drive tenant demand toward institutional landlords who are already complying with most aspects of the proposed... 13th September 2024 · 3 mins read
UK Commercial Property Update Why we are more optimistic on rental growth Our rental growth forecasts for the industrial and retail sectors are notably above the consensus, particularly over the next couple of years. That primarily reflects our relatively optimistic... 10th September 2024 · 3 mins read
UK Commercial Property Update IPF Consensus Forecasts (Sep 24.) The latest IPF Consensus Survey showed forecasters are finally coming around to our long-held view that retail will preform relatively well over the next five years. Total returns for all the retail... 6th September 2024 · 3 mins read
UK Commercial Property Update Is the City of London bouncing back? City offices have underperformed their West End neighbours by a wide margin since 2022. More encouraging recent data have led us to revise up our City rental projections, but we still expect stronger... 28th August 2024 · 3 mins read
UK Commercial Property Update Retail investment will continue to lead the recovery Commercial property investment is on track to hit our forecast for a rise of 20% this year, helped by a substantial rise in retail transactions. A decent rental growth outlook coupled with attractive... 14th August 2024 · 3 mins read
US Commercial Property Update Investment recovering, but not without risks While the UK led the recovery in investment activity in Q4 last year, the latest data suggest the US and euro-zone are now also turning a corner. But given concerns over economic growth in all three... 6th August 2024 · 4 mins read
UK Commercial Property Update London industrial demand will soon recover The impact of the cost-of-living crisis, which has been weighing on London industrial take-up, has a bit further to run. But London is well-positioned to benefit from the rise in consumer spending we... 5th August 2024 · 3 mins read
Europe Commercial Property Update Office conversion proceeding faster than expected We have been sceptical of the viability of conversion of excess office space into residential units. But the latest figures indicate that, despite marginal financials, there may have been more... 1st August 2024 · 6 mins read
Europe Commercial Property Update CBD shift clearest in the largest office markets At the end of the pandemic, there was a view that remote working would drive a wedge between CBD and other submarket rents. The evidence of this remains uneven. But in some cities, notably Paris and... 31st July 2024 · 3 mins read
UK Commercial Property Update Commercial property capital values bottom out The Q2 RICS commercial survey added to the growing body of evidence that capital values at the all-property level have now bottomed out. But, in line with our forecasts, it also implied that the... 25th July 2024 · 3 mins read
UK Commercial Property Update Supermarket recovery delayed, but still imminent Supermarkets struggled in 2023, as falling food sales volumes hit profits and rental growth. But the future looks brighter. As food price inflation has fallen supermarket profits have recovered and... 24th July 2024 · 3 mins read
Europe Commercial Property Update UK looking increasingly attractive compared to France Newfound political stability in the UK contrasts with the now more uncertain political backdrop in France. A better relative outlook for economic growth and risk-free rates had already led to a... 18th July 2024 · 3 mins read
UK Commercial Property Update Do the latest job figures hint at weaker office rents? UK employment has faltered of late and, though growth is expected to improve, no return to the buoyancy of the recent past is in prospect. While headcount has become a weaker indicator of office... 10th July 2024 · 3 mins read
US Commercial Property Update Near-term laggard but US to outperform longer term The slower adjustment to past rises in interest rates and sharper hit to office demand mean US property is set to underperform European property over the next five years. But unlike equities, we think... 8th July 2024 · 3 mins read
UK Commercial Property Update Retail rental growth pessimism appears misplaced The consensus is still downbeat on the outlook for retail rents, with growth expected to underperform even the struggling office sector. But with a decent consumer recovery on the horizon we think... 2nd July 2024 · 3 mins read
US Commercial Property Update CMBS losses not a sign of widespread debt crisis News that some top-rated CMBS in both the US and Europe are set to make losses is in line with our previous view that distress will ramp up in 2024. But, to date, the troubled securities have all been... 27th June 2024 · 3 mins read
