This week has been quite the week, with a fantastic show at the NEC in Birmingham for the NACFB Commercial Finance Expo. Our team had a great time – but what else is new?
Last time we looked at a regeneration zone in London, letting agent fraud, the collapse of Lambert Contracts and converting the Stockport sorting office.
This time we’re looking at Asian investors in London, PropTech advancements, an office relocation and funding the construction skills gap.
Asian Investors Swoop Up Trophy Building
Singaporean investors have invested in a London skyscraper to the tune of £650 million. The building in question is called Ropermaker Place.
The building is made up of 21 stories and is over 600,000 sq ft. It was purchased by a subsidiary of Ho Bee Land, a Singaporean-listed company
Investment in the capital has grown, creating a trend in Asian investors collecting what is being called “trophy buildings”.
Find out more about this news story via CityAM.
Technology and Real Estate: Fast and Slow Buildings
The British Council for Offices (BCO) has just published a new report on intelligent buildings: “Fast and Slow Buildings: Responsiveness through technology and design”.
This has created talk around the idea of intelligent buildings and their overall impact on the real estate market. Analysts have predicted that there will be £10b+ connected devices in real estate by 2020.
That said, it’s suggested that 85% of existing buildings will still be being used by 2050 – but will they soon evolve?
Find out more about this news story via Deloitte.
Pegasus Relocates To No4 St Paul’s Square
Pegasus Group, a planning consultancy, have moved into a larger office at No4 St Paul’s Square. They had previously been operating from Bruntwood’s ‘The Plaza’.
The company employs over 270 staff and have 12 offices across the country. Their Liverpool office currently has 8 members of staff, but wish to expand – which is why they upgraded office.
Recent appointments include Sheila Wright and Simon Tarr, and the team is headed up by Neil Culkin. Pegasus will occupy 1,300 sq ft in No4 St Paul’s.
Find out more about this news story via Place North West.
Government Launches £22m Onsite Training Fund
The UK government has launched a new multi-million pound fund to help with the skills gap in the construction sector.
Over the next 5 years there is expected to be almost 160,000 new jobs created in the sector. The fund, which is £22 million, will bring more training onto sites.
The 18-month scheme is funded by the Department for Education and will be administered by the Construction Industry Training Board (CITB).
Find out more about this news story via GOV UK.
That’s all for this week, make sure to stay tuned for more commercial property news. If you want even more up to date information then please visit our Twitter page at @VAT_BRIDGE – where you’ll find a whole bunch of daily news and insights.