UK Commercial Property Update Do not dismiss positive message from real estate equities We doubt that any recovery in IPD all-property capital values will come quite as soon or be quite as strong as is currently indicated by real estate equity prices. But, equally, we would not be... 9th October 2012 · 1 min read
UK Commercial Property Update Survey highlights downside risks to London office rents in 2013 On past form, the weakness of today’s CBI/PwC Financial Services Survey suggests that, over the next nine to 12 months, Central London office rental values could fall by as much as 10%. To us, that... 1st October 2012 · 1 min read
UK Commercial Property Update Survey highlights downside risks to London office rents in 2013 On past form, the weakness of today’s CBI/PwC Financial Services Survey suggests that, over the next nine to 12 months, Central London office rental values could fall by as much as 10%. To us, that... 1st October 2012 · 1 min read
UK Commercial Property Update Downside risks to Central London office rents in 2013 dominate A simple projection for demand, supply and vacancy rates suggests that our forecasts for 5% falls in Central London office rents in both 2013 and 2014 remain on track. There is a risk that those falls... 20th September 2012 · 1 min read
UK Commercial Property Update No need to panic about recent surge in transactions-based yields Property Archive’s transactions-based all-property yield recently rose to its highest level since mid-2009. However, not least because the office sector has comparatively high yields and its share of... 11th September 2012 · 1 min read
UK Commercial Property Update Is it too early to be looking for a recovery? Commercial property capital values are likely to drop by perhaps another 5%. But that figure may now be small enough that would-be buyers are prepared to look past it and ahead to a recovery. As such... 23rd August 2012 · 1 min read
UK Commercial Property Update Out-of-town shopping centres will remain a bright spot In recent quarters, out-of-town shopping centres have performed well in absolute terms and relative to their in-town counterparts. The weak consumer outlook and the growth of on-line shopping both... 22nd August 2012 · 1 min read
UK Commercial Property Update Hotels should remain comparatively resilient According to IPD, hotels are one of the few segments where capital values are at or above their levels a year ago. The continued euro-zone crisis will remain a strong headwind for hotels, but we... 15th August 2012 · 1 min read
UK Commercial Property Update South East offices could be a segment to watch Given that the economic backdrop is still so weak, it remains difficult to see a trigger for a widespread commercial property recovery in the near term. But the South East office market has shown... 10th August 2012 · 1 min read
UK Commercial Property Update Non-prime and prime yield divergence continues in Q2 The latest IPD data confirmed that yields on the best quality property have remained resilient in the face of renewed recession, but also that lower-grade stock continues to lose value. With both... 7th August 2012 · 1 min read
UK Commercial Property Update Rumoured RPI changes not a reason for concern Rumoured changes to the way in which the RPI is calculated may have a detrimental impact on the value of property with an index-linked lease. But even if any changes to the RPI are made, which is very... 18th July 2012 · 1 min read
UK Commercial Property Update H1 is done and capital values on track for full-year decline of 6% In the first six months of 2012, all-property rental values have been surprisingly resilient to renewed recession, but the upward trend in yields that we had expected has become reality. On top of the... 17th July 2012 · 1 min read
UK Commercial Property Update Do commercial property yields have further to rise? Simple calculations suggest that the rate of future rental growth implied by prevailing property yields is too low, or, in other words, that yields themselves may already have risen far enough. But... 10th July 2012 · 1 min read
UK Commercial Property Update Further evidence that London office rents will rise this year A composite indicator that aggregates up a range of individual balances from the CBI/PwC Financial Services survey points to continued, albeit modest growth in Central London office rents in H2. This... 29th June 2012 · 1 min read
UK Commercial Property Update West End office to residential conversions – too good to last? Strong interest in Central London office to residential conversions is not hard to understand, given that prime house prices command a substantial premium over office usage. But that premium looks... 15th June 2012 · 1 min read
UK Commercial Property Update How concerning are continued disposals by institutions? Property Archive’s data showed that, while overall commercial property investment market activity was solid in May, UK-based institutions were again net sellers. Historically, net disposals by... 12th June 2012 · 1 min read