Brendan Geraghty

According to CBRE, UK commercial real estate values have dropped by circa 22%. "The smaller-scale properties will probably get away, but larger-scale ones, like big business parks and shopping centres across London and even some of the other regions, are seeing much more of a dent in their valuations," says James McGregor from P10 Financial Group. With down valuations sending shivers down investors' spine, and £71bn of outstanding commercial loans due to be refinanced in the next 12 months, how will this impact the commercial real estate and lending markets? For the latest issue of the B&C Magazine, we set out to answer this burning questions, with the help of several commercial property finance experts — including Tanya Elmaz from Together - loans, mortgages & finance, Paul Goodman from Goodman Corporate Finance, Mike Davies from YBS Commercial Mortgages, Simon Jackson FRICS from Capital Value Surveyors Limited, Adrian Bailey from Enra Specialist Finance, Narinder Gill from Coreco, Hiten Ganatra from Mortimer Street Capital, James Nunn from Octopus Real Estate, James McGregor from P10 Financial Group and Edward Matthews from MERA Investment Management. Read the full cover story in the latest B&C Magazine: https://lnkd.in/dbQimRW6

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Real estate figures have welcomed some “ambitious” proposals for the built environment in the Liberal Democrats’ manifesto, the first launched ahead of the 4 July general election. The party, led by Sir Ed Davey, said it will increase building of new homes to 380,000 a year across the UK, including 150,000 social homes, through 10 new garden cities and community-led development of cities and towns. “Government housebuilding targets are regularly missed and the shortage of affordable and social housing is at crisis point,” the party said. “Newly built homes are often energy inefficient and environmentally unfriendly. Too many new houses are built as leasehold and leaseholders still face large bills, not least because of the building safety scandal. Homelessness remains shamefully high. Local authorities’ powers to build the kind of homes needed in their areas are inadequate.” Read the manifesto and real estate's response in full ⬇ ⬇ ⬇ https://lnkd.in/eq9NFeba

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Any further growth in the UK residential market will likely come in the second half of this year. Emily Williams, director in Savills residential research team, says: “The UK housing market has performed more strongly than many had anticipated this year, with an anticipated rate cut and improving economic outlook creating more capacity for house price growth.” Learn more about the property sectors lenders and investors are most interested in ➡ http://savi.li/6045YmMjD #FinancingProperty #RealEstate

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Repurposing unused retail spaces into residential units presents a promising solution to address both the issue of vacant high street units and the national housing shortage. With a demand for 300,000 new homes annually to accommodate the growing population, the UK government has long grappled with housing supply challenges. Recent impacts on retail spaces provides an opportune moment to transform these locations into desirable residential properties. Converting shops into homes through permitted development entails adhering to additional building regulations. It's essential to align your project with the Nationally Described Space Standards (NDSS), which outline criteria for creating habitable living spaces emphasising aspects like storage, sleeping arrangements, bathrooms, and kitchen facilities. Moreover, understanding the Housing Health and Safety Rating System (HHSRS) is crucial. This system assesses the health and safety standards of residential properties, requiring mitigation of hazards such as mould, extreme temperatures, asbestos, and lead. While profitability remains a primary concern for developers, overlooking these considerations can lead to unforeseen expenses in the form of fines and penalties. Therefore, embarking on the conversion of retail spaces into homes offers significant potential, but it necessitates careful planning and adherence to regulatory frameworks from the outset. #RepurposingHighStreets #HighStreetDevelopment #SmallScaleDevelopment #DeveloperNews #RetailtoResidential #PermittedDevelopment

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Following the recent change of government post-election, it is imperative our industry spotlights the challenges faced in delivering social housing to the new Labour government. Avanti Architects are now part of the scores of architects pledging support for the manifesto put forward by the Architects’ Action for Affordable Housing collective #AA4AH, urging for an equitable and sustainable path to deliver this much needed housing. You can read further about this in the Architects’ Journal article below. This aligns with Avanti’s recent focus on council-led affordable housing for London Borough of Newham, Lewisham Council, London Borough of Redbridge and Haringey Council. Our latest estate infill development in Redbridge is nearing completion, and recent projects include affordable housing to the highest levels of #sustainability for Newham and Haringey, meeting #Passivhaus and #NetZero standards. We have also recently delivered innovative delivery models for priority #socialhousing developed by London Borough of Lewisham including supported living and emergency housing for families in need which allows the council to retain the housing under their ownership rather than being at risk of incurring Right to Buy. https://lnkd.in/e2N-hDcc #avantiarchitects #architecture

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This month’s Residential Property Review includes the latest from Savills on the housing market, demand for new builds outstrips supply in the capital and a brief look at how the General Election could affect the housing market. Read more in our Residential Property Review | June 2024. #housingmarket #generalelection  https://lnkd.in/gm2J64ZV

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As the UK prepares to head to the Polling Stations tomorrow for the General Election, CRE owners are holding their breath for any upcoming changes. But getting your ducks in a row ahead of the General Election doesn’t need to be a huge lift. It’s more about having a sense of awareness that helps better prepare you for the uncertainties and opportunities that political changes may bring, while protecting your investments. We've got you covered with: ✍ Everything you need to know about Martyn's Law 📢 How to prepare for future changes within Turnover Rent and ESG 📈 Financial Planning for any Business Rate amendments ...and more on keeping everyone connected and compliant. Read about the 5 Ways to Prepare for Life after the General Election below #generalelection #cre https://lnkd.in/eBgHDSes

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Superb article on #RAAC in the #Residential sector published by Buildingtalk and written by our Steven McSorley - click below to read his insights into this evolving situation, and the way forward from here 📝 #StructuralEngineering #WeArePerega https://lnkd.in/gZuaVUmM

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According to this Inside Housing feature, Savills report that shared ownership has added £6.5bn to housing associations’ turnover over the past decade. The income has come from first tranche sales and staircasing. Yet the same report includes data that: “a relatively small proportion of shared owners reach 100% ownership”. Sounds like shared ownership is working better for housing associations than for shared owners. #SharedOwnership https://lnkd.in/edm7js-D

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“Most developers are not driven by any public good, they are driven by shareholder value.” Is the tide turning against the traditional developer and housing association? David Smith-Milne of Place Capital Group thinks so. Founder and CEO of the regeneration specialists shares his thoughts during a #PlacemakerInterview with Somewhere Associate Director, Scott McCubbin. Full interview with transcript here: https://bit.ly/44muRN3 #UKREIIF #UKRealEstate #Regeneration #Places #Housing #Placemaking #PlaceBrand UKREiiF

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Recently, our CEO and founder David Smith-Milne was interviewed by Scott McCubbin for Somewhere's series of PlaceMaker interviews . In the interview, David discusses his views on estate regeneration and placemaking. These principles are key to Place Capital Group's vision and how we approach estate renewal. As summarised by David, “regeneration shouldn’t be this thing that we dip in and out of, it should be a permanent feature of housing delivery.”   These overlooked estates, often seen as the problem for many housing providers, are actually the solution. Within these forgotten estates lies the key to unlocking a better future. We cannot hope to step into the future by leaving communities behind.   Take a look at the video below to watch the full interview...   #placecapitalgroup #estateregeneration #estaterenewal #socialhousing #affordablehousing #councilestate #placemaking #placeshaping

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Following the announcement of Labour's landslide victory in the general election, our Managing Director Jon Scammell shares his thoughts: "After seeing 16 different housing ministers in 14 years, the UK property sector is poised for Labour’s much hyped sweeping reforms to the planning system and a reintroduction of mandatory local housing targets. Shares in most of the major housebuilders all rose significantly off the back of this morning’s results. However, Labour’s promise to build 1.5m new homes in England during the next 5 years would require a level of housebuilding not seen since the 1960’s. Increasing development on ‘brownfield’ and ‘grey-belt’ land, alongside a series of new towns, their focus is understandably going to be on social and affordable housebuilding, but this should at least start to release some of the affordability issues stifling the ‘bottom’ of the market. They have also pledged to make the existing Mortgage Guarantee Scheme a permanent fixture to assist first time buyers struggling to save for a deposit. There will be a lot of work around the private rented sector, abolishing Section 21 ‘no-fault’ evictions, empowering private tenants to challenge unreasonable rent increases and generally improving the quality of housing stock available. There will also be a longer-term focus on reforming what they call the current “feudal” Leasehold system, it’s unlikely we’ll see the end of Leasehold completely for a considerable time, but Commonhold looks to become much more prevalent, especially on new-builds."

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Maintenance loans for South Coast universities failing to cover rent, finds CBRE 🏫🪙 Headline rents for student accommodation across major university towns and cities on the South Coast are now outpacing maintenance loans, new data from real estate adviser CBRE UK has revealed. The firm analysed the purpose build student accommodation sector (PBSA) in the UK’s 30 major university towns and London. It found that Southampton and Brighton have the highest average rents, ranging from £210 to £285 per week and £285 to £341 per week respectively. Students in Winchester pay an average of £215 to £274 per week. Outside of London, the maximum maintenance loan that can be secured by each student is £10,227 per annum. Continue reading... https://lnkd.in/eDvZG6TC #education #property #finance #rent #realestate #businessnews #businessintelligence

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'Out with the old, in with the new': Laurence Holmes and Jonathan Wallace present a new insight on the guiding principles for successfully repurposing town centre buildings. As retail demand declines, repurposing offers a cost-effective and sustainable solution, preserving heritage while meeting evolving needs. However, it's a nuanced process, often requiring extensions or linked developments for viability, alongside navigating complex building regulations. Read the full insight: https://lnkd.in/e8-hS7AT

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Net zero requires reuseable, repurposed buildings Divisional director at Premier Modular, Mark Rooney, examines the need to incorporate repurposed building stock in the national #netzero strategy As the UK is now halfway to reaching its net zero target, reports suggest that #emissions must be cut at double the speed if the country is to stay on track . A revived plan to temporarily decant the House of Lords during the refurbishment of the Palace of Westminster has shed light on a potential solution that could be echoed nationwide: could repurposed rental buildings be used to house Parliament and contribute to #decarbonising the #builtenvironment? https://lnkd.in/ecqErNCG

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Ahead of RIBA's election event on climate action: Delivering a low carbon built environment at 2.00 this afternoon, UK AD has sent each candidate (Oluwafunmbi Adeagbo, Duncan Baker-Brown and Chris Williamson) and the current RIBA President, Muyiwa Oki PRIBA, an Open Letter containing a set of key actions. More radical and systemic change is required, with the greatest action needed at the highest leverage points involved in changing any system. It is here that key institutions such as the RIBA must lead. We call on all candidates for this new term of office to engage clearly and directly with these policies as the driving force for the RIBA’s actions on the planetary emergency in the short, medium and long terms:   - The mindset or paradigm out of which the system - its goals, power structure, rules, its culture - arises. - The goals of the system. - The distribution of power over the rules of the system. - The rules of the system (incentives, punishments, constraints). - Information flows. - Material flows and nodes of material intersection. - Driving positive feedback loops. These 7 leverage point headings are taken from the Donella Meadows essay on 'Leverage Points: Places to Intervene in a System'. The full text of the open letter expands on the headings, explaining how RIBA can engage with these leverage points to push forward meaningful change. You can find the full text of the Open Letter on the News page of our website here https://lnkd.in/eZ5wafzX. #openletter #riba #action #climate #ukarchitectsdeclare #climateemergency #ribaelections

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