UK Commercial Property Update Recent bond yield rises might not be as bad for property as they seem The recent bond market sell-off is unlikely to trigger a commercial property triple-dip. But it may take the heat out of London and other prime segments, while also acting as a catalyst for increased... 27th June 2013 · 1 min read
UK Commercial Property Update Capital values at a turning point? The IPD data for May appear to show that commercial property values have turned the corner. With both economic sentiment and the hard economic activity data now delivering more positive than negative... 18th June 2013 · 1 min read
UK Commercial Property Update Big Six office markets: Birmingham and Glasgow still set to lag The latest FBS jobs data support our view that Manchester will be amongst the best performing Big Six (non-London) office markets this year, as it was in 2012. But given high vacancy rates and soft... 13th June 2013 · 1 min read
UK Commercial Property Update The better signs continue Over the past week or so the signs that commercial property investor confidence has picked up have continued to emerge. Any upturn in capital values is unlikely to be large or sustained until a... 20th May 2013 · 1 min read
UK Commercial Property Update Spotting a turning point: look for a fall in average deal values We sense that property investors are poised for an upturn but not yet confident enough to become fully active again. One thing we will be watching for as a sign that a turning point has been reached... 10th May 2013 · 1 min read
UK Commercial Property Update Recession avoided: has the rental outlook just got better? It is clearly good that the economy has avoided another recession. But the news will do little to accelerate the much-needed recovery in commercial property rental values outside London. On past form... 8th May 2013 · 1 min read
UK Commercial Property Update How much further will Central London office rents rise? London City and West End office rents are now some 15% to 20% above their 2009 floors and the Consensus envisages that they will record similar gains in the next five years. We are more cautious... 18th April 2013 · 1 min read
UK Commercial Property Update Industrial yield spreads across regions will widen further The gap between industrial property yields in the South East and the Rest of the UK has risen to a level that is 50% higher than its long-run average. This could be a sign that yields in the South... 9th April 2013 · 1 min read
UK Commercial Property Update Polarisation of the retail property market is still rising Today’s better-than-expected retail sales data will do little to halt the polarisation in values evident in the IPD retail sub-markets. Even if this is the start of a modest spending upturn, until the... 21st March 2013 · 1 min read
UK Commercial Property Update Is stagflation the next threat to property values? If growing fears of a sustained rise in inflation proved well founded, this will present another obstacle to a meaningful recovery in commercial property values. But a repeat of the 1970s experience... 14th March 2013 · 1 min read
UK Commercial Property Update What has happened to the property market cycle? The current IPF Consensus forecasts envisage that capital values will do little more than mark time for an unprecedented seven years. Yet this is not a sign that the property market cycle has been... 12th March 2013 · 1 min read
UK Commercial Property Update Do solid Q4 spending data signal a brighter retail rent outlook? The rise in real consumer spending in Q4 last year was the fifth in succession and, at face value, looks favourable for retail occupier demand. It is also encouraging that the adverse effects of... 27th February 2013 · 1 min read
UK Commercial Property Update What does the rise in bond yields mean for commercial property? The recent rises in UK bond yields have been far too small to make much of a dent in the already-high property/bond yield spread and, in any event, are likely to go into reverse. Indeed, we think that... 7th February 2013 · 1 min read
UK Commercial Property Update Finally, permission-free conversions set to be allowed Two years after the initial proposal, and having appeared to have gone cold on the idea in the meantime, the Government finally looks set to allow permission-free conversions of commercial property... 22nd January 2013 · 1 min read
UK Commercial Property Update CBI/PwC data add to positive London office news-flow Today’s CBI/PwC data add to other evidence that continued near-term gains in London City and West End office rents are more likely than not. But with the economy unlikely to grow to any meaningful... 21st January 2013 · 1 min read
UK Commercial Property Update Do recent administrations justify retail rent forecast downgrades? The recent clutch of retailer failures probably won’t be the last and they increase the downside risks to rents this year. But not all retailers are struggling and recent administrations are more... 18th January 2013 · 1 min read
