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EG recently caught up with Aken Smith, a portfolio management intern at Landsec, during the Real Estate Futures event to discuss his top tips for breaking into the real estate industry. Smith emphasises that apprenticeships and internships provide valuable entry points into the sector. If you're looking to start your career in real estate, EG's Starting Out in Real Estate guide offers insights into various pathways, including apprenticeships, accredited degrees, and graduate programmes. Download your copy here: https://bit.ly/3AMTRlY In partnership with British Land, CBRE, Clyde & Co, Knight Frank, Landsec, Maples Teesdale LLP, Nuveen, a TIAA company, Shoosmiths, University College of Estate Management Supported by British Property Federation, Freehold LGBT+ CIC, Real Estate Balance, RICS, Reading Real Estate Foundation #SOIRE #StartingOutInRealEstate #RealEstateFutures

Here’s your daily round-up of the latest news and views from EG. 🛎 The rush of proposals to turn unloved offices and other properties in London into hotels continues. Planning committee members at Westminster City Council had some reservations about signing off two hotel conversion proposals this week, but both ended up with unanimous approval. One will see the vacant office at 61-71 Victoria Street, SW1, redeveloped as an eight-storey, 88-bedroom hotel. The other will involve converting the former Belgravia Police Station at 202-206 Buckingham Palace Road, also SW1, into a seven-storey, 206-bedroom hotel. Meanwhile, Create Asset Management is hoping it receives as warm a reaction when its plans to turn the vacant six-storey block at 291-299 Borough High Street, SE1, into a 47-bedroom hotel land in front of Southwark Council’s committee later this month. The office has received just one offer from a potential tenant in four years. Officers have recommended approval for the conversion. 🎭 Scottish Opera is set to get the go-ahead for a major redevelopment of its Glasgow headquarters at New Rotterdam Wharf. The project would consolidate its five existing premises into a single site with a dedicated rehearsal space as well as breakout, storage and flexible workspace. The project would also release land for the development of hundreds of purpose-built student bedrooms. Recommending approval, Glasgow’s planning officers said the plans would not only secure the future of Scottish Opera and support the ongoing success of the city’s cultural quarter, but presented a “major opportunity to regenerate a brownfield site, improving the setting off and access to the western side of the Forth and Clyde Canal”. 🛍 Marshalls CDP and Rothstone Estates are seeking a buyer for their newly developed St George’s Retail Park in Leeds. Savills, which is marketing the asset, is seeking offer over £18m, reflecting a net initial yield of 6.35%. The 65,000 sq ft retail park opened this autumn and comprises 11 units, of which six are already let to Aldi UK, B&M Retail, McDonald's, Greggs and Costa Coffee. Aldi and B&M are the anchor tenants. 📰 There’s also news on Cushman & Wakefield’s refinancing; Allsop LLP’s next senior partner; and SEGRO plc’s largest industrial letting of the year. All this and lots more here. https://lnkd.in/edrgy6tD

Will Game MRICS, asset manager at Nuveen, a TIAA company took us on a history lesson of pre-combustion engine England as a metaphor for the rise of AI as part of his Future Leader talk at EG's recent Real Estate Futures event. Watch his talk now and embrace the potential of AI: https://lnkd.in/eCyHTZfm Future Leaders partners: CBRE, Clyde & Co, Knight Frank, Landsec, and Nuveen, a TIAA company. Real Estate Futures event partners: British Land, Evelyn Partners, GIA Surveyors, Maples Teesdale LLP, RICS, Shoosmiths, and University College of Estate Management.

Here’s your daily round-up of the latest news and views from EG. 💷 “Another difficult start to the year for lenders.” That’s how Dr Nicole Lux, senior research fellow at Bayes Business School, describes the findings of the latest half-year CRE Lending Research report from the institution. The report tracked deals from 69 banks, insurance lenders and debt funds. It found that loan volumes were down by 9.8% year-on-year in the 12 months to 30 June, at £16.7bn. “[Lenders] are competing fiercely for financing opportunities due to low transaction volumes in the UK commercial real estate market,” Lux said. “This continues the trend that started with Brexit in January 2020 and the significant impact of events such as the Covid pandemic.” 💚 Grosvenor has submitted plans to transform a “tired” 1960s building in Belgravia into a fully retrofitted, highly sustainable new development. Plans for the site at 23 Lower Belgrave Street, SW1, centre on 78,145 sq ft of grade-A office space, a net uplift of 12,278 sq ft on the existing footprint, and around 2,400 sq ft retail or restaurant use. Rachel Dickie, executive director for investment and development at Grosvenor, said the proposals prove that “outdated buildings can be transformed into beautifully designed, progressive workspaces”. 🏗 Real estate leaders have spotted a glaring omission in government’s industrial strategy: namely, real estate. The 66-page paper launched this week outlines eight sectors the government wants to prime for long-term growth through a 10-year strategy: advanced manufacturing, clean energy, creative industries, defence, digital and technology, financial services, life sciences, and professional and business services. “The fact that we haven’t had any industrial strategy for so long is utterly perverse,” said Jackie Sadek, chair of The UK Innovation Corridor. “I was surprised that housebuilding is not named as one of the eight priority industries, after all the sound and fury over the summer – in fact, property seems to have been bypassed altogether.” 🗞 There’s also news on Get Living’s new plans at Elephant and Castle; Virgin Media O2’s Manchester prelet; and a strong quarter for office take-up in London’s South Bank. All this and more here. https://lnkd.in/eCjdYgDF

New podcast episode alert: Explore the synergies between science and AI in London. EG senior reporter Evelina Grecenko dives into London’s unique role as a hub for science and technology in EG's latest podcast. Grecenko is joined by: - Tom Mellows, head of UK science, Savills - Michael Samuelian, founding director of urban tech hub, Cornell Tech NYC - Amy Hockley, head of innovation leasing, British Land Together, they explore why London is ideally positioned to foster growth in science and AI, lessons from the US and how London is evolving as a global tech hub, what landlords need to provide to attract top-tier occupiers in this space.    Grab a cuppa and settle in to hear this insightful conversation on the future of real estate, tech, and innovation: https://bit.ly/3YjVMYo

How is ESG reshaping real estate investment? Will H. of Royal London Asset Management and Janey Douglas of JLL will join EG's Julia Cahill in a fireside chat at the ESG Summit next month, bringing to life the deals taking place in the market and the shifting priorities for investors. Whether you are refining your ESG strategy or seeking new ways to add value to your real estate portfolio, this session will equip you with actionable insights to stay competitive and meet investor demands in a rapidly changing market. Don't miss this important ESG investment discussion and more - get your tickets now: https://bit.ly/4gy40TR In partnership with Bates Wells Derwent London Evelyn Partners JLL Home@ix MAPP Shoosmiths Travelodge Hotels Limited

Are you currently a Director of Housing and looking for a fresh start? Look no further. Cheltenham Borough Council are looking for an ambitious and visionary Director of Housing to join their team. Interested? Click here to find out more about the role and to apply https://lnkd.in/ejVNhirU

Good morning. Here’s your daily round-up of the latest news and views from EG, all perfectly curated to set you up for the day ahead. Hines is set to make a big push into the burgeoning single-family housing sector with plans to build an initial £500m portfolio. The US-based group sees potential in building a rental proposition in the UK through its value-add fund, Hines European Real Estate Partners 3, before pushing the concept into Continental Europe. “The UK is the focus right now,” UK head Ross Blair told EG, “but if we can crack it here in the UK, I would be surprised if we don’t get more active elsewhere across Continental Europe.” There are fewer than 15,000 single-family rental homes in the UK currently, compared with more than 100,000 build-to-rent flats. However, the sector is fast capturing the attention of investors, attracting half of the £1.3bn invested in the BTR sector in Q2 2024. Pension Insurance Corporation plc and Patrizia have also announced plans to build major single-family housing portfolios, while Kettel Homes has this morning launched an initial £50m fund raise for a rent-to-buy concept in the sector. In the world of flex, EG can exclusively reveal that The Instant Group has partnered with the International WELL Building Institute (IWBI) to bring a new healthy workspace benchmark to the co-working and flex industry. The new rating, derived from the health strategies in the WELL Building Standard, includes more than 50 features spanning all 10 concepts in WELL, such as air and water quality, light and thermal comfort, and physical fitness and nourishment. The WELL Coworking Rating serves to “validate and showcase” how co-working and flexible workspaces meet evidence-based health and wellbeing measures. Sam Pickering, executive director and head of sustainability at Instant, said: “By working with IWBI to develop the WELL Coworking Rating, Instant was able to leverage the science and evidence behind WELL and introduce the first rating tailored specifically to the co-working and flex office market.” Elsewhere, leasing activity continues to pick up. M&G plc has bagged Primark owner Associated British Foods for 31,000 sq ft at the Fitzrovia office redevelopment just off London’s Tottenham Court Road, while Gary Neville’s Relentless Group has filled the final slice of a floor at his £400m No.1 St Michael’s, securing Channel 4 on just shy of 13,000 sq ft of space. And in west London, SEGRO plc has sold a 10-acre industrial estate to Imperial College London for £115m. The college plans to utilise the park to provide commercial science innovation facilities to early-stage companies with interests aligned with the university’s academic mission. It will form part of a new “WestTech Corridor”. All that and so much more in your EG MORNING NEWS ⬇️⬇️⬇️ https://lnkd.in/erGKMZEd

New EG Property Podcast out now... Join Samantha McClary from EG as she hosts an insightful discussion with industry leaders Simon Century, managing director of housing and asset management at Legal & General, Matt Steere, director of data and insight at Birchgrove, and Jon Neale, head of research and strategic insight at Montagu Evans. Together, they explore the key barriers hindering the growth of multi-generational living in the UK. Tune in to hear their perspectives on funding challenges, the untapped potential of the living sector, and the need for a fundamental shift in traditional thinking. Listen now: https://bit.ly/4h2QQOQ London Real Estate Forum

It was a great pleasure to sit down with Sophie Rosier, head of London mixed use and development Land at Savills, at LREF recently, to discuss the most pressing challenges that London faces. Rosier highlighted the urgent need for stronger collaboration between the public and private sectors to boost the delivery of affordable housing. She also touched on the complexities of unlocking development potential in the mainstream market, all while emphasising London's enduring status as a global player.   #EGatLREF #LREF2024 London Real Estate Forum