Michal Fort-Williams’ Post

Chris Room gives his insight on how the world of offices has gone through a transformation and no other location globally can exemplify this change better than City of London. #cre #londonproperty #ukrealestate #commercialrealestate #realestate

Interesting insights from Chris Room, a partner in the City Investment team at our joint venture partners, Allsop LLP covering the continued popularity of change of use from B1 offices (now commercial ‘E’) to C1 Hotel and Serviced Apartments. 🏢 ➡ 🏨 #capitalmarkets #ukrealestate #cityinvestment #changeofuse

Dexus formally announces the sale of two office properties for combined proceeds of $443.2 million - JLL and McVay Real Estate Dexus announced today that it has unconditionally exchanged contracts to sell two office properties for a combined sale price of $443.2 million of which Dexus’s ownership interest represents $336.3 million. The combined sale price is broadly in line with last stated book values, reflecting a 0.8% weighted average discount to the 30 June 2024 valuations. The properties are, 100-130 Harris Street, Pyrmont which was sold for $229.3 million in line with the 30 June 2024 book value. The property is an A grade boutique heritage office building located in the Sydney CBD fringe market of Pyrmont, with occupancy by area of 83% and a WALE of 4.3 years. Settlement is expected in early 2025. 100-130 Harris Street Pyrmont Sydney was brokered by Rob Sewell Head of Office Investments, McVay Real Estate. The second is 145 Ann Street, Brisbane which was sold for $213.9 million by the Dexus Office Partnership, in which Dexus has a 50% leasehold ownership interest, reflecting a 1.7% discount to the 30 June 2024 book value. The property is an A grade office building located in the northern periphery of the Brisbane CBD with occupancy by area of 84% and a WALE of 3.2 years Settlement is expected in December 2024. Sale proceeds would reduce Dexus’s pro forma look-through gearing3 by circa 1.5 percentage points and contribute toward Dexus’s circa $2 billion of divestments earmarked across FY25- FY27. 145 Ann Street Brisbane CBD Office building sold to Aware Real Estate alongside the Navigator Property Group brokered by JLL Directors Paul Noonan and Seb Turnbull. Aware Real Estate Head of Investment and Capital Transactions Pete Carstairs said the acquisition was aligned with ARE’s strategy to target office opportunities along the Eastern seaboard. Sam McVay Dan McVay Glenn Bechtel Daniel Kernaghan Andrew Peck Kate Low Stuart Crow Brock McDermott Shannon Gale Lynne Hale Thomas Craig Read more on COMMO > https://lnkd.in/ge6bUGwJ #dexus #office #officebuildings #officeinvestment #awarerealestate #jll #jllaus #officebuilding #officeinvestment #Mcvayrealestate #MRE #commercialrealestate #sydneyre #brisbanere

The UK commercial property sector is rebounding, with a surge in demand for modern office spaces driving new developments like M&G's 40 Leadenhall. However, challenges remain as older buildings struggle to compete and London faces its highest vacancy rates in 20 years. Creative conversions are emerging as landlords adapt while stabilising inflation and lower interest rates attract international investors. Read more https://heyor.ca/XVT8bA #CommercialProperty #CommercialPropertyInvestment

In the Raleigh-Durham office market, availability remained steady at 22.2% compared to last year. Availability rates have been on the rise over the past five years, reaching all-time highs. However, there has been a recent leveling off in availability rates, leading to a slight decrease in average rental rates. Overall, rental rates dropped by 0.1% to $29.29 per square foot (psf), with Class A space seeing a 1.8% decrease to $30.66 psf. Demand for new Class A space is strong, causing the office class spread to narrow, while lower-tier Class A space remains on the market. Learn more:

The UK commercial property sector is rebounding, with a surge in demand for modern office spaces driving new developments like M&G's 40 Leadenhall. However, challenges remain as older buildings struggle to compete and London faces its highest vacancy rates in 20 years. Creative conversions are emerging as landlords adapt while stabilising inflation and lower interest rates attract international investors. Read more https://heyor.ca/XVT8bA #CommercialProperty #CommercialPropertyInvestment

Return to office boosts London's commercial property market London's commercial property market is showing signs of recovery, with firms like Helical reporting a minor rebound in their property portfolio. Shaftesbury Capital also noted strong leasing demand, completing £15.9m in new leases and renewals, which is 9% ahead of June 2024. The trend towards returning to the office, driven by companies like PwC and Amazon, is expected to boost demand for commercial spaces. Landsec highlighted a shift towards “high-quality space in best locations,” while Savills reported a 1.5% increase in prime commercial rents between Q2 and Q3 2024, with a 13.1% rise over the past year.

The latest RICS Commercial Property Monitor has revealed that the UK, especially London showed improvements in Q1 2024. Looking ahead, rents are expected to rise over the next 12 months for both primary and secondary industrial sites. Prime office sites are also expected to see a rental increases. Regionally, London remains ahead of the rest of the country, with rent expectations at +54%, reflecting its significant lead in tenant demand. This represents the strongest reading for Central London prime office rents since Q1 2016. This is a clear signal that now is the right time to invest in Central London prime office spaces. https://t.ly/0f090 via Facilities Management Journal (FMJ) #PropertyInvestment #CommercialProperty #CommercialPropertyInvestment #Forecast #RealEstate

Return to office boosts London's commercial property market London's commercial property market is showing signs of recovery, with firms like Helical reporting a minor rebound in their property portfolio. Shaftesbury Capital also noted strong leasing demand, completing £15.9m in new leases and renewals, which is 9% ahead of June 2024. The trend towards returning to the office, driven by companies like PwC and Amazon, is expected to boost demand for commercial spaces. Landsec highlighted a shift towards “high-quality space in best locations,” while Savills reported a 1.5% increase in prime commercial rents between Q2 and Q3 2024, with a 13.1% rise over the past year.

Great news about The Instant Group’s appointment to deliver managed offices in Brookfield Properties’ flagship location - 100 Bishopsgate. It’s a true testament of how the leading office developments will need to offer a variety of products within the same building - co-working / managed amenties, flex offices and managed offices all catering to the tenants of various sizes operated by separate companies (in 100 Bishopsgate case it’s The Instant Group’s managed offices and flex offices operated under IWG plc’s Singature brand). All these operators need to be handpicked by the property owners and managed as true partners to deliver high quality space standards that the landlords and asset managers need to define and manage through operating partners. Congratulations, The Instant Group - your managed offices product has proven to be a success for many occupiers and landlords across the world with a unique value proposition of being delivered quickly, cost effectively and to the required standard. Eduard van Zyl Andrew Debenham John Williams James Rankin Sam Pickering John Duckworth #managedoffices #flexibleoffices #futureofoffices #assetmanagement