In this fourth edition of CBRE’s Law in London report we consider how the challenges and opportunities facing London’s largest law firms are affecting real estate strategy.
This is underpinned and supported by our regular benchmark analysis of the CBRE Legal 100, which draws on data from four years' surveys.
The legal sector continues to experience significant change.
Cost reduction remains a major focus through strategies such as intensifying use of space and nearshoring. But increasingly law firms are focused on attracting and retaining the best talent. So a greater emphasis is placed on how space is used, and the look and feel of that space. We are seeing alternative workplace strategies and open play layouts becoming more widespread.
In the competitive London environment it will be the firms that can adapt that will survive.
On 5 May 2016 Scotland votes for a new Parliament. The Scottish Parliament is now one of the most powerful elected bodies in the UK, and the decisions and policies of the Scottish Government increasingly have a direct impact on real estate markets. In this Viewpoint we explore that impact, looking at party manifestos and polling evidence.
The Scottish National Party (SNP) is likely to again be elected to form a majority administration. Polling typically gives the SNP a strong lead over other parties, usually taking more than 50% of the vote.
Prospects for another independence referendum look relatively slight, but the SNP say they will set out on a new programme to persuade Scotland of the benefits of independence. But if the UK population votes to leave the EU in the referendum on 23 June, the SNP say a second independence referendum is much more likely.
Scottish real estate will see ‘more of the same’ from the SNP in the next five years if they are re-elected. But even if they end up in coalition with another party, land reform including transparency in land holdings, property tax, infrastructure and housing will be the focus of Scottish Ministers. We look at how the main party manifestos each approach these issues.