This week we may have learned more about the worrying gender pay gap within the construction and financial services sectors (which we are personally against), but we’ve also learned more about the commercial property sector.
Last week we looked at Prudential’s new headquarters, JD Sports reaching out to America, Reading Council investments and a new Crossrail over station in Bond Street.
This week we’re looking at a new Nottingham City Hub, property price fall predictions, the impact of brexit over the last year and London as a financial hub.
Funding Deal for £58m Nottingham City Hub
The infamous Nottingham College has managed to gain funding for potential plans for a new ‘City Hub’, which will cost approximately £58 million.
The new campus will be 6 storeys high and was designed by Bon Bryan. It will be accompanied by a brand new business hub for the college also.
D2N2 Local Enterprise Partnership will be contributing £30 million towards the project, with £18 million coming from Nottingham City Council and existing college funds.
Find out more about this news story via Construction Enquirer.
48% of Short-Term Lenders Predict Property Price Fall
A survey by the Association of Short Term Lenders (ASTL) has uncovered that 52% of its members are predicting property prices to rise, leaving 48% predicting a fall.
Although it may seem extremely split, 78% still expected their business turnover to increase. 63% expect the very same within the bridging financial sector.
A staggering 93% of ASTL members believe strongly that short-term finance for small to medium enterprise housebuilders will be a large area of growth.
Find out more about this news story via Bridging & Commercial.
Brexit One Year On and One Year To Go
With our country now being 1 year into Brexit deals, with one year still to go, it would seem that occupiers are now less concerned about the impact of brexit.
Research by CBRE, surveying 100+ major European occupiers, has revealed that those worried about brexit having a ‘significant’ effect decreased from 38% to 33%.
It also showed that those worried about a ‘very significant’ effect dropped dramatically, from 15% down to a meer 6% in 2018. Overall, the number of occupiers worried about negative impacts dropped from 53% to 39% over the past year.
Find out more about this news story via CBRE.
London As a Global Financial Hub
The London IPO market is off to a good start this year, with new figures predicting lots of floats within the financial services sector – keeping London a global financial hub.
In Q1 2018 London scored 16 IPOs in the main market and junior Aim, with 11 of those being within the financial services sector.
Although float numbers were down by almost 40% in 2018, the proceeds they generated rose by 6% to over £1.2 billion.
Find out more about this news story via CityAM.
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.