Connell Grogan MRICS

Our latest Build to Rent Briefing is now out https://lnkd.in/epVvXu_z A rise in the no. of completions this year is good news, but new investment looks highly constrained given economic conditions and the high level of political risk assigned to investing and operating in Scotland. Scotland's main cities should be rivalling the BTR powerhouses down south but are way behind. Revisions to the new Housing Bill may help to get Scotland back on to investors' radar, but it will take some time for positive sentiment to return. Scotland needs to be seen as far more 'open for business' and needs better thought-out legislation that actually considers evidence and impacts before policy implementation. #BTR #newhomes #residentialinvestment

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Tired of the housing crisis? It's time for a change 🙌🙌🙌 Discover how cohousing can provide a stable, affordable home ⤵️ https://lnkd.in/eiTf5Hvk #AFairerSociety #CohousingUK #housingcrisisUK #HousingCrisis #CohousingSolutions #UKHousingMarket #CommunityLiving

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For those who decide at short notice: WBEF webinar: Housing markets in 2024 and beyond: How can the sector leverage change? Wed 2 Oct 2024 • 10:00 - 11:00 BST / 11:00 -12:00 CEST https://lnkd.in/erv8_nm3 #RICS #WBEF #Housing

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ESPC's latest market research sheds light on a crucial issue: Buildings in Scotland contribute to 20% of the country’s greenhouse gas emissions. While awaiting details on The Heating in Building Bill, it's evident that awareness of forthcoming changes is still very limited. On top of ‘green funding’ and ensuring any work is completed by accredited contractors to an approved standard, the Government and stakeholders alike still have lots to do to educate the public. As ESPC we want to play our part, so look out for more thought pieces, podcasts and events on all aspects of energy efficiency in the coming months #Espc #Netzero #Greenagenda

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The UK government faces significant challenges in attracting developers and funders for large-scale regeneration projects. High costs, complex regulations, and funding difficulties have driven many out of the sector. Successful regeneration requires substantial upfront investment, often from public sources, to de-risk projects and attract private capital. To bring developers back, the government may need to provide initial infrastructure funding and create incentives. #RealEstate #Regeneration #UKProperty #UrbanDevelopment

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Delighted to of had my article picked up and published by BTR News Really does showcase why Leeds is a unique investment opportunity just in time for our new launch #property #wealth #btr #business ##realestate

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An opinion piece in the Times today on how we might plan for a step-change in the #economic #growth prospects of the UK. My article looks at some potential solutions, including lessons learned from #Europe, and how the next #Government needs to look harder across a range of integrated subject areas - #spatialplanning, #housing, #skills, #infrastructure #netzero, #riskcapital - if we are to deliver greater inclusive growth outcomes. This article draws upon CBRE UK's participation in the #InclusiveGrowthCommission, a business-led forum set up to advance government policy development as this relates to inclusivity and economic growth. Led brilliantly by Tom Lees and Gerry McFall and the Bradshaw Advisory team, the 12 Commissioners are able to share real world experiences with Ministers, Shadow Ministers, and their advisors, so that we can collectively develop policy that will have the greatest effect. Ciaran Bird Martin Guest Jennet Siebrits Claire Fowler Alice Lacey https://lnkd.in/efszYEgi

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Urban Splash Residential Fund and Citu partner for £200m UK housing deal By IPE 1 November 2024 The Urban Splash Residential Fund (USRF) has partnered with UK property developer Citu to secure a £200m (€237m) pipeline of sustainable homes in Northern England. The SURE Capital Partners-managed UK residential fund has agreed the partnership to enable it to gain priority access to Citu’s properties and single-family homes in Yorkshire over the next five years. The initial phase of the 600 homes partnership involves the acquisition of 52 homes in Leeds and Sheffield. Akeel Malik, partner at SURE Capital Partners, said: “This deal connects capital with regeneration, allowing us to play a pivotal role in creating vibrant new neighbourhoods. Leeds and Sheffield are exciting, transformative cities where people want to live, work and play, and we’re proud to help drive that change. “Our mission is to cultivate a portfolio of design-led homes for renters – an approach that aligns perfectly with Citu. We have found the ideal product in their award-winning homes and communities.” Tom Bloxham, partner at SURE Capital Partners, said: “SURE has investors ready to commit to design-led homes. It’s a concept that’s been proven with Urban Splash and now with Citu.” Bloxham said the partnership is another example of how SURE Capital is bringing UK and international institutional capital to work supporting UK “SME developers like CITU, Urban Splash and Javelin Block – with whom we completed a deal last year in Birmingham”. Jonathan Wilson, managing director at Citu, said: “Our growth strategy focuses on creating exceptional sustainable places with a variety of tenures, and we’re excited to introduce a rental offering to our developments both now and in the future, with a partner who shares our vision and responsibility. “This collaboration enables us to move ahead with confidence, and we look forward to the next steps.” We’re glad to see that you may be inspiring others with our journalistic content. We ask that you copy our content for personal use only, so as not to violate our Terms and Conditions. Otherwise, ask about our group memberships via [email protected]. Text copied from: https://lnkd.in/dxeEzxCx

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Citu and USRF tie up £200m partnership CITU The sustainability-led firm has signed a memorandum of understanding with Urban Splash Residential Fund and SURE Capital Partners, covering an initial 600 homes across its development portfolio. The partnership marks an important marker in Citu’s growth plan to bring “sustainable, future facing places and homes can be accessible for all” forward across Yorkshire. This is USRF’s second partnership, following a similar agreement with Urban Splash. The MoU covers 600 homes with opportunity to grow, and includes an initial purchase of 52 Citu homes within Leeds’ Climate Innovation District, and at Kelham Central, Sheffield. Yorkshire-born Citu creates homes that work to Passivhaus principles, making them approximately 75% more energy efficient than a traditional home in the UK. The firm manufactures its buildings in its Yorkshire factory. Jonathan Wilson, managing director at Citu, said: “This partnership marks a significant step forward for Citu, and we are delighted to have found an aligned partner with the right expertise and ambitions to join us on this journey. The partners said the deal will help SME Citu further expand its reach while giving USRF the opportunity to offer sustainable living solutions to families across the county. The move diversifies USRF’s portfolio, adding single-family homes to its offering, as well as expanding its footprint in Yorkshire following its acquisition of East Street Mills in Leeds last year. Akeel Malik, partner at SURE Capital explained: “This deal connects capital with regeneration, allowing us to play a pivotal role in creating vibrant new neighbourhoods. Leeds and Sheffield are exciting, transformative cities where people want to live, work, and play, and we’re proud to help drive that change. “Our mission is to cultivate a portfolio of design-led homes for renters – an approach that aligns perfectly with Citu. We have found the ideal product in their award-winning homes and communities.” SURE (Sustainable Urban Real Estate) Capital Partners is an entity set up to connect capital with “best in class” Developers. Urban Splash chair Tom Bloxham is a partner. He said: “SURE has investors ready to commit to design-led homes. It’s a concept that’s been proven with Urban Splash and now with Citu. “I have long been an admirer of the regeneration work undertaken by Chris and Jonathan and team at Citu and was very pleased to see this deal close. This is another example of how SURE Capital is bringing UK and international institutional capital to work supporting the very best UK SME developers like CITU, Urban Splash and Javelin Block – with whom we completed a deal last year in Birmingham. “This deal will both bring good returns to our investors and help fund much needed new sustainable homes and regeneration in UK regions.”

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Britain must get building. But are there more solutions in existing infrastructure which we are currently overlooking? Collectively, we all face existential issues in our housing which ultimately exacerbate pressures in all social demographics from young to old. As always, my position is increased private and public coordination to bridge the gap in funding, knowledge and execution nationwide. Please see my latest Forbes Finance Council article for further insight. https://lnkd.in/d3ZVr3Ab

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The Circular Economy could improve Building Dilapidations The current approach to dilapidations in UK commercial leases often leads to significant waste, as outgoing tenants are required to restore the property to its original condition, typically removing any fit-out or alterations they made. This process is not only costly but also environmentally unsustainable. Frequently, a new tenant then undertakes their own fit-out, leading to a cycle of unnecessary demolition, disposal, and refitting. This practice generates large volumes of waste, contributes to carbon emissions, and contradicts sustainability goals. In the context of building leases and dilapidations, the circular economy can play a part in several ways: 1.    Design for Longevity and Reuse: Circular economy principles encourage designing fit-outs with durability and adaptability in mind. If materials and installations are modular and flexible, they can be more easily repurposed by future tenants. For example, office partitions, lighting, and furnishings can be designed to be deconstructed and reused, allowing for multiple life cycles without generating waste. 2.    Material Recovery and Recycling: Instead of sending old fit-outs to landfill, materials like wood, metal, and glass can be recovered, refurbished, and reintegrated into new projects. This would minimise the environmental footprint of both the outgoing tenant’s dilapidation works and the incoming tenant’s fit-out, fostering a closed-loop system. Reclaimed materials can be given a second life in future construction projects, reducing the need for virgin resources. 3.    Retrofitting Over Replacement: The circular economy encourages retrofitting and upgrading existing installations rather than full-scale replacements. By focusing on refurbishment, tenants and landlords can extend the life of a fit-out, reducing both the financial and environmental costs of continuous installation and removal. 4.    Collaboration for a Circular Transition: A circular economy requires close collaboration between landlords, tenants, contractors, and suppliers. By aligning their goals—such as reusing fit-outs or prioritising sustainable materials—they can collectively minimise waste. Landlords, for instance, can play a crucial role by facilitating the reuse of fit-outs between tenants, creating a marketplace for second-hand materials and installations. Integrating circular economy principles into dilapidations in commercial leases could help transform a wasteful practice into one that supports long-term environmental and economic sustainability.

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https://lnkd.in/eJ9ZAWMR More Exciting news from Homes England! Homes England has made a £50 million commitment to Schroders Capital’s Real Estate Impact Fund (SCREIF) – a standout partnership because of its focus on both social and sustainability impact. SCREIF is a unique prospect in the real estate landscape, being one of only two funds in the UK to carry the Financial Conduct Authority’s “Sustainability Impact” label. It’s a clear fit with Homes England’s mission, placing sustainable, resilient communities at the heart of what we do. This fund is about so much more than building homes; it’s about creating places where people genuinely want to live – spaces with access to green areas, transport, schools, and healthcare. These are the types of places that support and enhance people’s lives, which is exactly what Homes England is committed to achieving (and why I love working here to deliver it). By partnering with Schroders, Homes England can reach even more communities across the UK, delivering a transformative impact where it’s most needed. Beyond this initial investment, SCREIF’s unique positioning has the potential to attract additional institutional backing from pension funds and foundations, further amplifying its reach. This partnership enables Homes England to accelerate its regeneration goals and create thriving, inclusive communities that truly benefit people. Investing in SCREIF is an exciting new venture that has far reaching potential for social and sustainable change.

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🏡 Is multi-tenure housing the future of community living? With over 4.6 million households renting privately in the UK, the BPF’s call for multi-tenure housing couldn’t be more timely. Communities where Build to Rent, senior living, student accommodation, affordable housing, and private homes thrive side by side, all supported by vital infrastructure and job opportunities. It’s not just about building homes, but creating places that support people at every life stage. Having worked across all these sectors, I believe this approach could reshape housing for future generations. What kind of communities do we want to build? Melanie Leech Ian Fletcher British Property Federation

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Some great insight here from Richard. Priorities for private renters: slow the pace of rental growth 🤝 increase supply. Quantitative research from a wide-range of sources (inc Greater London Authority in 2023) clearly demonstrates the benefits of market rental supply to improve affordability. Worth a read 👇

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Local communities can decide ‘how, not if’ new developments go ahead. Anyone that works in property will understand that reforming the planning system will take time and something that hasn't really been mentioned, more money. Let's see what changes are made to the National Planning Policy Framework but overall, it feels positive and appears the Labour government realise an overhaul is well and truly needed. Financial Times. #Planning #PlanningPermission

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Following last week's excellent NHBC event (thanks Tim Reid & Niki Kyriacou), I thought it would be worth sharing the excellent Greater London Authority research from summer 2023 that Richard Valentine-Selsey from Savills covered in his market presentation. "This research finds that in general, building new market-rate homes makes other housing more affordable. It does so by creating chains of vacancies and moves that can reach across an entire housing market area. These moving chains improve the availability and affordability of housing throughout the range of prices and rents, including for lowincome households. Building market-rate housing therefore indirectly increases the availability of homes affordable to low-income households" https://lnkd.in/e7_v-jeQ A key piece of research to inform the uninformed about why private rental supply simply must be supported by policy, planning and political will. #BuildtoRent #UKHousing #PRS

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