An integrated network of over 300 wholly owned offices in more than 60 countries*. Our commercial property consultants advise more clients than any other commercial property adviser, combining the market-making of management consultants with the accountability of professional advisors. We work with occupiers, investors and developers of office, industrial and logistic, residential, retail and hotel property.
Our aim? To maximise the value of our clients’ real estate. We provide: strategic advice and execution for property sales and leasing; tenant representation, corporate services; facilities, property and project management; appraisal and valuation; development services; investment management; energy and sustainability services, and research and consulting. To provide this service in EMEA alone we employ over 6,950 people* in 141 offices* across 40* countries. *Includes affiliates
UK commercial property continued to improve during October, with capital values increasing by 0.6% over the month, resulting in growth of 2.0% so far this year. Total returns were 1.1% in October and 7.7% over the year to date.
In the retail sector capital values continued to improve, increasing by 0.4% over the month. High street shops, shopping centres and retail warehouse all recorded a positive uplift in capital values, showing some stabilization in this sector.
Capital values in the industrial sector increased by 1.0% over the month, resulting in total return of 1.7% in October. This is the first time that All Industrials has recorded the highest monthly capital value growth since March 2009.
Overall in the office sector total returns and capital value grew by 1.2% and 0.6% respectively during October. All offices from across the country have been contributing to the overall performance of the sector and not just Central London, as had been the case until about March this year. The gap between the performance of Central London and the rest of the UK continued to close in October, although office capital value growth in Central London remains slightly higher than in the rest of the UK.
•2013 has seen the first signs of recovery emerging in the Northern Ireland commercial property market with transactional activity in all sectors up year-on-year.
•A number of significant investment properties have sold recently in Northern Ireland including a Tesco Extra store in Newry, which sold for £30.3 million, reflecting a net initial yield of 4.95%.
•Most of the demand for institutional grade investment properties is emanating from UK investors who are increasingly looking for opportunities in regional markets such as Belfast.
•There has been a steady volume of letting activity in the office sector. Although no large lettings have been signed recently there are several outstanding requirements.
•The news that planning permission has now been granted for a new 7,710m2 (83,000 sq. ft.) Grade A office building at City Quay in Belfast Harbour which is due to go on site shortly is warmly welcomed as this is the first speculative development in the city in over six years.
•In the retail sector, a number of new retail lettings have been agreed several new restaurants have opened recently with 3 new restaurant openings planned on Belfast’s Howard Street in the run-up to Christmas.
•With the annual Christmas market at City Hall and an ice-rink planned for Custom House Square, it is hoped that political tensions can be kept at bay and that flag protests planned over the coming weeks won’t deter from what promises to be a busy Christmas trading period across the region
We are delighted to release the inaugural edition of IN_business. This new magazine takes a look at key trends in the national office and industrial markets. We hear from experts from CBRE's National Team who explore the spike in market we've experienced this year across the UK and implications for future trends. Some of our clients have also contributed to provide further insight into how they are responding to market trends.
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