US Commercial Property Update Office rent growth outlook downgraded Our initial expectations that office landlords would see only a limited and short-lived fall in occupier demand have given way to a growing likelihood of a more adverse outlook. We have therefore... 13th May 2020 · 3 mins read
Europe Commercial Property Update Impact of WFH on European office demand Data from Europe suggest that the relationship between working from home and office space per worker is weak. And even if working from home becomes more prevalent in the next few years, we think that... 11th May 2020 · 3 mins read
Europe Commercial Property Update Gradual recovery will drag on the retail sector The lack of clear movement in the Q1 commercial property data has put other indicators into focus. These paint a much bleaker picture, particularly for the retail sector. 7th May 2020 · 4 mins read
Europe Commercial Property Update German offices likely to outperform rest of euro-zone As Germany cautiously eases its lockdown, despite the significant hit to economic activity, the tight supply picture should help support prime office rents across the four main cities this year. 1st May 2020 · 3 mins read
Europe Commercial Property Update Investor sentiment turns sour Despite reasonable levels of capital ready to invest and an expected loosening in credit conditions, the sharp deterioration in investor sentiment reinforces our view that euro-zone investment... 30th April 2020 · 3 mins read
US Commercial Property Data Response NCREIF Property Index (Q1) Data for the first quarter show that all-property total returns saw their weakest quarterly performance since the tail-end of the GFC. Given that occupier market conditions have since deteriorated and... 28th April 2020 · 3 mins read
UK Commercial Property Update Investment activity to fall by a third this year Due to the spread of COVID-19, it is increasingly likely that investment activity will slump to a record low level in the second quarter. Even though we expect a pickup in the second half of the year... 22nd April 2020 · 3 mins read
US Commercial Property Update Office foundations look less shaky this time around After a decade of relatively cautious real estate lending and steady, rather than stunning, economic growth, office development has remained fairly subdued. What’s more, for both practical and... 16th April 2020 · 3 mins read
Europe Commercial Property Update Looser measures won’t stop retail rent falls in Stockholm Although retailers in Sweden remain open, early indications suggest that the Stockholm retail sector will still be hit hard in Q2. In fact, we think that the virus outbreak will only accelerate falls... 16th April 2020 · 3 mins read
Europe Commercial Property Update Is southern Europe finally embracing e-commerce? While COVID-19 has forced consumers in southern Europe to shop online, we think that e-commerce penetration will remain lower for structural reasons, which is one reason why prime retail rents in... 14th April 2020 · 3 mins read
US Commercial Property Data Response Commercial Property Lending (Mar.) The amount of debt secured against real estate and held by commercial banks continued to grow in March. But the bigger picture is that the rate of growth of lending is showing signs of weakening and... 10th April 2020 · 2 mins read
UK Commercial Property Update Online boost will not prevent wider industrial woes Social distancing measures have accelerated the shift to online spending in recent weeks. But the upside of increased online spending is limited to a few occupiers, most notably supermarkets, and is... 9th April 2020 · 3 mins read
UK Commercial Property Update Retail pain will be reflected in sharp rental falls The rapid spread of coronavirus over the last month has dealt another body blow to UK retail. We expected the sector to see rental falls pre-COVID, but these could now be closer to 10% in 2020... 3rd April 2020 · 3 mins read
US Commercial Property Update Winners and losers in retail property Retail property looks most heavily exposed to the disruption from the coronavirus crisis. But not all retail is equal and different sectors will see very different impacts. In our view, neighbourhood... 3rd April 2020 · 3 mins read
UK Commercial Property Update Is co-working a further risk to the office sector? While COVID-19 will hit co-working hard, given the relative size of this subsector, we don’t think it will be large enough to impact rents in the overall office sector. 2nd April 2020 · 3 mins read
Europe Commercial Property Update Is co-working a further risk to the office sector? While COVID-19 will hit co-working hard, given the relative size of this subsector, we don’t think it will be large enough to impact rents in the overall office sector. 2nd April 2020 · 3 mins read
