Tom Lewin Smith

Aside from the day job, big thanks to all those at Savills who contributed to our latest (of what is becoming a series of) comments on national planning policy. What we do need now is a period of relative calm in planning reform to let the broadly more positive approach of NPPF (2024) bed in, assuming we will see its publication soon(ish) (the New Year has been mooted). Whilst NPPF (2024) is a step in the right direction, questions pertain about what next for other elements of the Levelling Up Act and how strategic planning / Local Growth Plans fit in. All takes time and as my Research post yesterday highlighted- key decisions are needed now to boost housing supply and plan making. https://lnkd.in/dSYCwxbn Whilst addressing the Green Belt is a positive and necessary step, the requirements of Annex 4 require a rethink. Expecting 50% affordable everywhere via a fixed national benchmark land value fail all schools of sensible land economics in the real world. Another key feature of Savills submission is the pressing need not only to turn the tap firmly on for all types, tenures and scale of housing sites, but also to plan more effectively for an employment land supply. Marrying jobs with homes is rather important. Plenty more therein. #NPPF #Planning Nick Matthews, Alison Broderick, Emma Andrews, Mark Breen, Emily Williams, Mark Powney (MRTPI), David Jackson

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A recent Ipsos Veracity Index highlighted that estate agents remain among the least trusted professions in the UK, grouped with politicians and journalists. Only around 30% of Britons express trust in estate agents, a figure that has remained stagnant in recent years. Interestingly, this places estate agents slightly above advertising executives (18%) but far below nurses (89%) and engineers (87%) as the most trusted professions. Why the skepticism? Factors may include a lack of regulation, inconsistencies in fees (ranging from 0.75% to 3% commissions), and perceived misaligned priorities. Despite these challenges, the estate agency sector remains a critical player, contributing £12.9 billion annually to the UK economy and managing an average of 33-40 properties per agent. This prompts a vital question for industry insiders and consumers alike: What must estate agents do to bridge the trust gap? Transparency, professional accreditation, or tech-driven solutions. What's your vote? (Source: Ipsos, Property Road)

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▶ In case you missed it... find out 'What Three Words' Matt uses to sum up the market this summer - and why. https://lnkd.in/exZ2Cndt 👌 And join us on 20th June for a midsummer roundup and forecast - link to register in Comments. #propertyexpert #propertymarketing #newbuildhomes #newbuildmarketing #ukrealestate #ukproperty #ukpropertymarketing #ukpropertymarket

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Savills has raised its outlook for the average total return for UK real estate in its 2025 cross-sector outlook, forecasting an average return of 7.4%, compared to 6.8% for 2024.

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Our latest analysis of TwentyCi data, as reported by PrimeResi Journal, shows that UK market activity has been above 2023 and pre-pandemic levels for the first five months of the year. We're also beginning to see fewer price changes. Read more here: https://lnkd.in/ePMJKVRT

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📊 UK Commercial Property Sector Reaches New Milestone: Rent Collection Returns to Pre-Pandemic Levels. CoStar's Paul Norman covers key insights from Re-Leased's latest Tenant Health Index, showing rent collections have rebounded to 96% — a return to pre-pandemic levels last seen in 2019. This notable comeback follows the significant low of May 2020, when rent collections had dropped to just 50%. “Our Tenant Health Index combines extensive real-time data to offer insights into the dynamics of UK commercial property occupiers,” says Tom Wallace, CEO of Re-Leased. "We see signs of stability in tenant retention and rent growth, particularly in high-demand sectors like Industrial, with encouraging data emerging from the Office and Retail sectors as they continue to evolve.” Read the full story on CoStar: https://lnkd.in/g7jcrDDQ Explore the report here: https://lnkd.in/ggaXaZGh #UK #CommercialProperty

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Following a three year period of significant rental growth, the demand and supply imbalance has begun to ease. We examine what this means for future rental growth and what impact the Renters (Reform) Bill may have in our latest Savills Prime UK Residential report.

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Really looking forward to attending FOOTPRINT+ and exploring ways we can reduce our carbon footprint in projects and as a business. Bowman Riley, Architects, Building Consultants, Interiors Madelaine Bradley April Marsden #footprint+ #sustainabledevelopment #decarbonisation

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L1 Property, the UK real estate investment arm of L1 Capital, has completed the acquisition of the 247-unit Equipoint build-to-rent (BTR) scheme in Birmingham for an undisclosed price. CBRE advised the vendor and Daniel Nevies of Oban Group and David Kanter and Daniel Lipman of Mishcon de Reya LLP advised L1 Capital on the transaction.

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The beginning of 2024 has been relatively quiet in terms of investment deals closing, following a flurry of transactions at the end of the previous year. There has been a mixed outlook on development activity. While completions have been on the rise in 2023 due to slowing build cost inflation, starts have decreased compared to completions. This indicates that investors are focusing more on existing projects rather than starting new ones. However, the number of homes in construction and permission stages shows promise for starts and completions in the future. These upcoming schemes will be crucial in addressing local housing needs, as our analysis indicates that many Build to Rent (BtR) movers come from the same or nearby areas. Our research also reveals that tenants are more willing to move to BtR properties compared to other forms of Private Rented Sector (PRS) housing. This highlights the appeal of BtR schemes to renters beyond just the opportunity to live in a new home. The main challenge moving forward is to address the bottlenecks in the delivery pipeline in order to meet the high demand. For more information, visit:

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Monday Market Review: Key figures & findings from the last seven days: Catch up on all the latest movements and commentary in less than five minutes, featuring data and analysis from the RICS, TwentyCi, Knight Frank, Prime Purchase, Savills, Hamptons, Halifax & more...

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At Royal London Asset Management, we embed our Responsible Property Investment (RPI) strategy across our property investment portfolios. Our RPI report for 2023 explains how our Property team look to ensure the physical assets we invest in are resilient and can adapt to future change. What are the key pillars of our approach and how do they support our efforts to tackle climate change, develop social value and impact and deliver for our clients? Discover more: https://ow.ly/jBfw50Tx0Ei #Property #ESG #ResponsibleInvestment #RPI

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*SOLD* - Savills are delighted to report the sale of Anchor Retail Park, Mile End, London, E1 4JU on behalf of our clients Lothbury Investment Management Limited (Adam Smith / Ed Hockley / George Norton) to DTZ Investors (Ben Haller) Big thanks to Emma Sadler at Bryan Cave LLP who acted for Lothbury on the legals. Salient details of the opportunity sold below; ·    Prime retail park with redevelopment potential located within Mile End, approximately 2 miles east of the City of London. ·    The property comprises a 3 unit retail warehouse terrace totalling 45,385 sq ft with income secured against strong national covenants of Currys plc, Asda and Halfords. The passing rent for the retail is £1,281,377 per annum. ·    Included in the sale are 11 four bedroom terrace houses let on private ASTs producing a total rent of £475,200 per annum. ·    The total income across the property is £1,756,577 per annum. ·    The total Freehold site extends to 3.21 acres (1.30 hectares). ·    The retail leases expire in 2025 enabling a purchaser to actively asset manage the scheme through regearing the leases or exploring redevelopment opportunities for alternative uses to include residential and student accommodation. ·    The vendor has carried out several pre-apps for the redevelopment of the site for Build to Rent and PBSA Uses. In response to the pre-apps feedback the following indicative schemes have been commissioned: ·    A residential feasibility study by architects Allford Hall Monaghan Morris hall mon, which comprises a total of 257 residential units with a total GIA of 238,679 sq ft (22,174 sq m) and total NSA of 187,400 sq ft (17,410 sq m) plus retail GIA of 11,593 sq ft (1,077 sq m). ·    A PBSA feasibility study by architects Maber Architects, which comprises a total of 440 beds with 66 units on-site affordable residential units with a total GIA of 206,689 sq ft (19,202 sq m) plus retail GIA of 9,957 sq ft (925 sq m). ·    The property is prominently situated fronting the A11 (Mile End Road) and is one of Central London's last remaining retail parks. ·    The site has a PTAL rating of 6a. ·    Excellent transport links provided by the London Underground including the new Elizabeth line (Whitechapel), the Hammersmith & City line, the District line (Stepney Green) and the Central line (Bethnal Green). Sale price £37,000,000. A combined Savills team effort! Retail Investment - James Hurst / Georgina Ward London Development Land - Alex Soskin / James Clare Student - Lizzie Beagley / James Barlow #eastlondon #retailpark #development

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Demand has outweighed supply for the last three years in the rental market – but we’re seeing that gradually start to shift, along with a return to more seasonal patterns. In our latest Savills Prime UK Residential report, we examine how slowing wage growth has brought tenants’ affordability more into focus and how landlord and tenant expectations have evolved. Click to read what's happening to rental values:

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🌍📊 The UK's Sustainability Index: I Results as at the end of H1 2024 🌿📈 CBRE's latest sustainability index results for the UK have been released. The report reveals an intriguing trend observed in traditional asset classes, showcasing a clear distinction between inefficient and efficient assets in terms of total returns and capital growth. It's a reminder of how sustainability can drive positive outcomes, both environmentally and financially. While the report doesn't provide specific conclusions for operational assets just yet, it raises an exciting question: Will the growing priority towards sustainability be replicated within operational real estate? As the industry continues to embrace sustainable practices, it's fascinating to envision the potential impact on operational assets. Curious to explore the findings? chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://lnkd.in/eSMimhEt And as ever, for anyone looking at Operational Real Estate, just contact one of the team: Alastair Jack, Julian Such, Gregor Porteous, Tim Bloomer, Laura Gordon, Bradley Palmer, Cameron McGrath MRICS, Tom Hughes #Sustainability #UK #IndexResults #CBRE #OperationalRealEstate

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