In the latest installment of Insider’s Property Perspective Q&A series, Stuart Harris was asked to comment on the South East property market.
As head of the Cambridge office, he discussed how office space remains in strong demand, how the industry is adapting to changes in investor perceptions and the key obstacles to development. The following questions were asked and answered in full throughout the article, below is a snapshot of detail.
In what sectors (residential, industrial, office, leisure) do you see the highest demand for new space and why?
‘Online retail habits are well documented, and have been for some time, but we see this feeding strong continuing demand for industrial space.’
What are the key industries that are diving demand for property?
‘Technology, innovation and biomedical industries are affecting demand across many property sectors…’
What changes to legislation do you want to see in the coming years?
‘Green belt legislation is having a stifling effect on the scope for continued investment in progressive cities such as Cambridge, where pioneering industries show a great appetite to grow within clusters.’
What future changes to the industry do you see making a significant impact on your business?
‘The industry is adapting to changes in investor perceptions and a realignment of the scenery in the built environment.’
How much of a role should the market/local authorities play in development?
‘Increasingly, there is scope for local authorities to participate and lead development through the creation of partnerships between the public and private sectors.’
What are the key obstacles for more development and how can they be overcome?
‘With confidence growing in relation to the long-awaited resolution of Brexit, the adoption of more progressive attitudes towards planning and taxation would assist in removing obstacles.’
How can areas away from the main motorway corridors and urban centres become more attractive to investors?
‘Investors are telling us that town centres under pressure can still provide attractive yields, particualrly where risk can be mitigated by the delivery of a greater degree of mixed-use…’
For the full article follow the link to Insider Media here, published on 31 January 2020.