Edward Boulton

I was delighted to contribute to CBRE's "European Flex Office Market Update H1 2024". Specifically, I discussed the transaction at Ingenuity House in Birmingham, which was arranged by CBRE between TSB, Orega and the Landlord. Highlights of the report include: ▶ Market Activity: Transactions in the flex office space have risen by 14% and desk volumes by 22% over the past year, despite a quiet traditional leasing market, highlighting a shift towards more flexible office solutions. ▶ Sector Dynamics: The TMT sector remains dominant but is now closely followed by the financial and professional services sectors, indicating wider acceptance of flex solutions. ▶ Management Agreements: Increasingly, businesses are choosing management agreements for greater flexibility and reduced capital outlays. ▶ Challenges and Opportunities: Valuation issues persist with flex spaces, but improving data transparency may boost the market's stability and appeal. Thank you to the team at CBRE for compiling this detailed and useful report. #Flex #MarketReports #Insights

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As a leisure surveyor I was interested to read the latest Savills Spotlight: UK Leisure - 2024 research report which came out last month. The research demonstrates the overall resurgence of the leisure and hospitality sectors over the last 12 months against economic headwinds. Some interesting points from the research 👇 ⬆ Entertainment (including membership clubs, cinemas, ticketed events and tourist attractions) in 2023 witnessed a noteworthy surge, peaking in July at an impressive 240 basis points above the mean for February 2020 pre-pandemic levels. ⬆ Similarly, spending on pubs, and fast food consistently exceeded pre-Covid benchmarks, hitting a high of 400 basis points in the summer months. Interestingly, spending on restaurants declines as pubs emerged as favoured venues over more formal dining establishments, suggesting a preference toward more casual and affordable dining experiences. ⬆ Competitive socialising and immersive experience offerings continue to see growth and significant consumer demand. ⬆ The out-of-town F&B sector is experiencing strong growth, with 733 new openings recorded in 2023. In part this has been driven by the increasingly popular drive-thru format. With good news for investors as average annual headline rents on new F&B drive-thrus increased 25.9% in 2023 on the previous year and vacancy rates are particularly low at 4.6%. The report can be found here: https://lnkd.in/ePuHzJpG 🍻🍽️ 📈 Get in touch if you require advice in this sector and I would be happy to help. Avison Young #MarketInsights #ConsumerSpending #EconomicRecovery #LeisureIndustry

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There was an increase in the Prime rent in Q1 2024, taking the headline to £46 per sq ft, which would represent an increase of 8% on the previous quarter. It is anticipated that this will continue to increase into Q2 2024. Bristol continues to have one of the highest Prime rents across the UK Big 6 markets and has experienced Prime rental growth of 23% since the end of 2019. Savills latest forecasts predict that the Prime rents will grow to at least £50 per sq ft, by no later than 2026.

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Following a three year period of significant rental growth, the demand and supply imbalance has begun to ease. We examine what this means for future rental growth and what impact the Renters (Reform) Bill may have in our latest Savills Prime UK Residential report.

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Latest reports from Knight Frank's UK Student Housing Market Update are positive for the PBSA sector, however we still need more beds to meet demand. Highlights from the report include. In Q1 2024, £148 million was transacted, marking a significant rise in investment from the same period in 2023. Yields from Purpose-Built Student Accommodation (PBSA) remain more resilient than those of other property sectors. London boasts the largest development pipeline, with approximately 26,000 beds either under construction or with planning granted. Manchester, Nottingham, and Bristol also have substantial development pipelines. Cushman & Wakefield's report stated that over 96% of students need housing during their time at university or college. As student numbers keep increasing, the challenge of balancing supply and demand remains. We must also focus on the need for a strong emphasis on the quality of the student experience.

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The UK housing market is bustling with activity as shown in our latest March 2024 property market data, revealing some changes from just a year ago in March 2023. There's a notable uptick across the board, except for Northern Ireland, which experienced a 6.2% decrease. Yet, the spotlight for properties on the market shines on the South West, boasting an impressive 19.1% increase, heralding a significant influx of homes on the market. Wales and the East Midlands aren’t far behind, with increases of 14.5% and 16.9%, respectively, signalling a promising variety of new homes to live in for prospective buyers. Scotland and London present contrasting scenes; Scotland sees a 7.4% rise while London shows a modest 3.8% climb, perhaps reflecting the capital’s already saturated market. The North East, North West, and Yorkshire & the Humber regions are also flourishing with 9%, 11.3%, and 17.3% increases, respectively, suggesting a robust expansion in choices for those seeking new beginnings. For those enchanted by East Anglia, there's a 14% growth, and the West Midlands isn't far off with a 14.1% bump. The South East also shows a healthy 11% rise, further adding to the broadening landscape of options. With more homes on the market, Cheshire homeowners, landlords, and future residents now have a wider selection to find their perfect dwelling, possibly the forever home they've been dreaming of. If you're contemplating a move, seize this well-timed moment and reach out to Northwood Cheshire, where your new home journey begins.

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📈 According to new data, Barnet's average rent was £1,735 a month in May, an 8% increase on a year ago £1,735 is nearly two-thirds of the area’s median wage. High rents, big deposits and poor quality housing are among the challenges facing Barnet tenants. We've seen a 60% rise in the number of enquiries relating to privately rented properties between 2020 to 2023. Read more about housing issues we're seeing on the front line. https://lnkd.in/eyPhArCH #housing #mould #damp #risingrent #rentalmarket

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HANOVER PLACE | BROMLEY | BR1 **SALE LAUNCHED**   An exciting opportunity to acquire an exceptionally well-connected Greater London landmark property with strong development and repositioning potential. 🎯 Hanover Place offers a unique opportunity to acquire an exceptionally well connected mixed-use investment in Central Bromley. 🎯 Bromley is the main commercial hub for the prosperous Greater London Borough of Bromley. The property is situated within a 2-minute walking distance from Bromley South railway station which benefits from 18-minute access into London Victoria. 🎯 Highly prominent high street location with The Glades Bromley close by and the bustling High Street. 🎯 Striking landmark property totalling 85,727 sq ft (NIA), reflecting 104,278 sq ft (GIA), arranged over two ground floor retail units and four upper office floors. 🎯 Large site area of approximately 1.28 acres (0.51 hectares). 🎯 Multi-let to three office tenants and two retail tenants, providing a WAULT of 3.11 years to expiries and 0.90 years to breaks. 🎯 The property is currently 45% let (excludes the Wilko Retail Limited lease) and produces a rental income of £627,868 per annum, equating to £7.32 per sq ft overall and £24.33 per sq ft on the let office space. 🎯 Excellent town centre car parking ratio with decked car park providing a 1:609 sq ft ratio. 🎯 Positive historic planning pre-application to establish the principles of developing the site, which was supported by the Council. 🎯 Short to medium term redevelopment potential - proximity to commuter station and nearby conversions providing precedent for potential repositioning options including residential, BTR, co-living, senior-living / retirement care, data centres, hotel and self-storage (subject to planning). 🎯 Freehold. Offers are sought in excess of £12,000,000 (Twelve Million Pounds) subject to contract and exclusive of VAT A purchase at this level reflects a low capital value of £140 per sq ft.   For further information, please contact Alex Youell, or myself. #cbrecapitalmarkets #realestateinvestment #investmentopportunity

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Great article in The Telegraph about the rise of the PBSA market, now accounting for over 412,000 student beds in the UK. JLL expects this could rise by a further 320,000 beds just to keep up with demand. I can see the attraction for institutional investors in this market, but I can't help but think half the reason to go to university was to go into a house share with your friends. If you are interested in the PBSA/BTR market, edozo has mapped out all the developments in the UK, tracking rents/beds/sale prices, and much more. Please drop me a line if you would like more info. #PBSA #BTR #studentaccommodation #proptech #commercialproperty #data https://lnkd.in/eZtMVb3y

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What's happening in the housing market? 🏡 Here is an interesting insight into Oxfordshires housing market by my colleagues Robert Cole and Alistair Redhouse

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Ready for some good news!? UK property firm Savills has revised its forecast of UK house prices to rise by 2.5% over the next five years due to a decline in mortgage rates. The firm had previously predicted a 3% drop in house prices due to rising Bank of England base rates. However, competition among lenders has reduced borrowing costs, prompting more activity in the market. Savills now expects the average price to rise by 2.5% in 2024 to £292,000. The firm expects growth every year up to the end of 2028, when it predicts average prices will have risen by £61,500, or 21.6%, to £346,500. The highly competitive nature of the mortgage market has led to lenders aggressively pricing in the prospect of cuts in bank base rates, causing buyer confidence to recover. #UKproperty #UKinvestment #UKInvestmentproperties #Buytolet #Rentalincome https://lnkd.in/e3hqv4DZ

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The leasing market has seen a continuation of the positive momentum from the second half of 2023 into Q1 2024. Take-up in Q1 reached 648,000 sq ft, showing a 35% increase compared to the same period in 2023, although it still remains 10% below the five-year average. Notable submarkets such as Maidenhead, Luton, Woking, Basingstoke, and Chiswick have experienced high levels of occupier demand in Q1 2024, surpassing their five-year average take-up levels. The Western Sector remains the most active, accounting for 48% of the total take-up in Q1. Despite the overall positive trend, there are still submarkets with limited occupier demand, with varying levels of requirements across different areas. Demand is expected to remain strong for Prime Grade A offices with high amenity offerings and strong ESG credentials.

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Great episode of The Investors Corner podcast with Michael Robson ⤵ Main Topics Covered: 💷 National Minimum Wage Increase: Implications for landlords and tenants 😬 Scottish Rent Controls: Potential impacts on rental prices and investment 📋 Renters' Reform Act: Proposed changes and their effectiveness 🏠 Impact of Minimum Wage Increase on Rental Market: Speculations on rental price trends and tenant behaviour 😲 Effectiveness of Renters' Reform Act Proposals: Critiques and considerations 👨‍🎓 Student Housing and Rent Controls: Ensuring stability in the student rental market Want to listen to rather than watch? 👇 Listen on Apple here: https://lnkd.in/e5p5pP4V Listen on Spotify here: https://lnkd.in/euM2gEky #landlord #property #investor

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Zoopla UK House Price Index reveals that a fifth more homes are up for sale than compared to last year – activity boosted by falling mortgage rates which are plateauing. What do you look for in a property investment? *Location? *A project to renovate and re-sell? *Letting potential? With the market perfect for purchasing, contact me today to find out more about current investment opportunities. #PropertyInvestmentUK #GraysResidential #PropertyValue #UKPropertyMarket #PropertyExpert #RealEstate

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