Geranium’s Post

Good morning. Here’s your daily round-up of the latest news and views from EG all perfectly curated to set you up for the week ahead. Birmingham City Council and Lendlease’s plans for the £1.9bn Smithfield development have been recommended for approval. The joint venture’s new plans for the 42-acre site include 3,000 homes and 1.7m sq ft of commercial space. The plans are set to be determined on 16 May. In the increasingly active world of flex, former GPE director of workplace services David O'Sullivan has landed a new gig at the The Crown Estate as director of transformation property services. Office landlords across the major regional cities have reasons to be cheerful as BNP Paribas Real Estate reports the biggest uplift in rents for more than two decades. According to the firm’s Big Ten Regional Office report prime rents grew by 7.6% year-on-year from Q1 2023 to Q1 2024 on average. Elsewhere, PGIM Real Estate has shown its confidence in the purpose-built student accommodation sector, splashing £184m on six properties from Unite Students. “In the current market environment, it’s rare to find a stabilized portfolio with high-quality yielding assets located in key regional cities,” said Tobias Waldschmidt, senior portfolio manager of European core plus strategy at PGIM Real Estate. “We believe the UK PBSA sector has strong underlying fundamentals as demand for student housing is only set to increase with more students applying for university.” Demand for beds of any type, has led to Barratt London and Asda teaming up to transform the supermarket giant’s current store in Park Royal, west London, into a major mixed-use scheme, as exclusively revealed by EG's Akanksha Soni. Subject to planning, the pair will create a JV in which Asda gets a new 60,000 sq ft superstore and Barratt delivers 1,500 new homes. The deal would be one of the largest land deals to complete in London since 2019. And finally, EG’s annual search for a special individual from somewhere within the built environment to join our award-winning Future Leaders programme has begun. We’re on the hunt for at least one person to become a “wildcard” entrant to this year’s new and enhanced programme. It is a programme that EG is incredibly proud of and a project, that with the amazing support of our partners – which this year includes Clyde & Co, CBRE UK, Knight Frank and Nuveen, a TIAA company – enables us to offer at least one slot on this intensive public speaking training programme to someone who would never ordinarily be given such an invaluable opportunity. Find out more and apply here: https://lnkd.in/eCyHTZfm All that and so much more in your EG Morning News ⬇ ⬇ ⬇ https://lnkd.in/e2wkRKUf

We spent an interesting afternoon at the Property Council of Australia's Victoria Outlook Residential session dissecting changes to the residential sector over the past few months in line with the State Government's Housing Statement. • The PCA is seeking to develop a robust Implementation Plan to drive the housing supply challenge • Millennials are seeking to purchase three-to-four-bedroom houses and are being pushed to the outer urban and fringe areas. • Greenfields sites are struggling but this should improve over the next 12 months. • We need to rethink how we operate, particularly around road cross sections in the greenfields development where we are significantly over doing road pavement. There is a great opportunity to review and reduce road cross sections to provide more net development area (NDA) improve housing yield and increase affordability throughout our growth areas. Thanks to moderator Jackie Kent of Stockland for facilitating discussion points between panellists Tony Gallagher of Peet Limited, Melanie Rowe of Red23, Richard Temlett of Charter Keck Cramer, and Ratio Consultants’ own Hilary Marshall for contributing their insights to the event. #ratio #fosteringchange #pca #events

It’s important to recognise that the needs of a regional city like Bendigo differ significantly from those of Melbourne. It's concerning to see the Bendigo Managed Growth Strategy align so closely with Melbourne’s approach. Focusing 70% on infill development seems to overlook one of Bendigo’s greatest attractions—the opportunity for space, which draws so many people to the region each year. With only a 30% allocation for greenfield development, it's hard to see how this strategy will effectively meet the goal of accommodating around 87,000 new residents by 2056. A more balanced approach could better support Bendigo’s unique appeal and growth potential.

Exploring Derby – Your Investment Destination 📍 In the last decade, Derby has emerged as a powerhouse in UK property investment, with prices surging by 58% according to the UK house price index. That’s an impressive £75,300 increase in the average Derby property value. 🏠✨ Fuelled by new businesses, redevelopment initiatives, and a growing demand for property, Derby offers an affordable entry point into one of the UK’s most central and fast-growing markets. 📍 JLL forecasts point towards a significant surge in both property and rental prices in the coming years, making Derby a hotspot for savvy buy-to-let landlords. https://ow.ly/FYj350Ql2MB #JosephMews #PropertyInvestment #InvestmentOpportunity #DerbyProperty #Derby

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🏡 NFB are excited to share insights from the CMA Housebuilding Market Final Report! 📑 📊 It reaffirms what we've long recognised: planning hurdles hinder housebuilding progress. 🚧 But it delves deeper, debunking the landbanking myth and shedding light on its detrimental effects on small builders and affordability for consumers. Adas Rico Wojtulewicz-Richmond, Head of Policy and Market Insight for the NFB and House Builders Association (HBA), said: 🗣  “The CMA report has confirmed that a broken planning process is the reason we have a lack of social housing, why big builders build too many of our new homes and SMEs are shut out, that homes are in the wrong places and too expensive, there are some issues with quality and we don’t do placemaking.” Visit our website for more information: ⬇ https://lnkd.in/e95KeaCk 💡 Let's collaborate to address these challenges and create a more accessible housing market for all! #nfb #CMAReport #Housebuilding #Affordability #PlanningReform

Off to Sydney 🛫 today with Warren Ebert and Michael Sherlock. In this video, Warren 'The Property Whisperer' Ebert shares some of his recent insights on the commercial property market and some of the trends we're seeing in the Brisbane market with rental growth up 30% in some areas. With the $3B+ AUD Queen's Wharf opening next month, domestic net migration to QLD the highest in the country and other large infrastructure projects absorbing human capital, we're seeing shortages of A-Grade stock on the market, creating a 5-7 year 'opportunistic' window for investors. If you would like to invest into South East QLD (min $100K investment), please do not hesitate to reach out to review one of our current Information Memorandums (IMs) and invest into #Brisbane2032 Only $5M worth of spots available in July 2024! (Min $100K - Wholesale Investors Only) Join our investor community today! Cheers, AK 📈 Sentinel Property Group $2B in Assets Under Management (AUM), Average 19.05% IRR per annum (from $1B+ historical sales) Cc: Daniela Lazzaretti, Emily Xie, Toni Hassall, Froya Vanderpuije, Tim Kent, Scott Tynan, Greg Campbell, Cohen Adams, JLL, CBRE, Knight Frank, Colliers, Cushman & Wakefield, Australian Property Journal, Property Council of Australia, Property Buzz, realcommercial.com.au, PieLAB, X Commercial, Commercial Property Australia , Brisbane Economic Development Agency, Brighter Super, Brisbane City Council, et al.

ICYMI: Where the end of FHL will have the biggest impact on the property market: A new study reveals the areas in England and Wales with the highest concentrations of holiday homes.

Knaresborough in North Yorkshire, UK 🇬🇧 A serene corner of Knaresborough, where charming riverside cottages and colourful flowers create a picturesque and peaceful retreat. 📸 Photo @fayazey We have already established Yorkshire as a prime investment spot for property with fantastic capital growth potential. From its skilled sectors and thriving talent pool to its affordability and high rental demand, the region already makes for a profitable investment choice. But which are the best cities in Yorkshire for it? Some of the best cities in Yorkshire offer unprecedented possibilities in the UK’s real estate. However, with regeneration schemes, impressive market forecasts, and Network North on the horizon, Yorkshire’s potential is growing. #r2sa #yorkshireproperty #investmentproperty #investment

Housing Shortage to Hit - Are We Building Enough? - Turner Real Estate Emma Slape, CEO of Turner Real Estate, offers expert insight into this pressing issue in a new thought leadership article. Alooming housing shortage is set to intensify competition in the Australian property market. The Business Council of Australia (BCA) has sounded the alarm, revealing that Australia is on track to fall significantly short of its housing targets. The BCA reports that while the government aimed to build 1.2 million new homes over the next five years – equivalent to nine homes per 1,000 people annually – the current rate is just six homes per 1,000 people. Read more on The Real Estate Conversation https://lnkd.in/gCjsCZyt Turner Real Estate Guy Measday AnnaMaria Varelias Emma Slape Deborah Daken Martin Betts Silvana Nastevski Natalie Bowen Luxury List #turnerrealestate #emmaslape #marketcommentary #australianrealestate #australianrealestatemarket #housingshortage #realestate #adelaiderealestate #realestatebusiness #housingcrisis