An expected tie-up between the most powerful influencer in the industrial and retail sector and its offices equivalent is an exciting move.
Amazon is closing in on a Manchester office with Hermes’ Hanover House the favoured home for its circa 70,000 sq ft requirement. In opening offices elsewhere the online giant has used flexible office providers for the near term before pursuing a long-term option.
Now with WeWork prioritising the city – it has recently opened a second Manchester office and is considering a third site – a tie-up with Amazon at Hanover House is on the cards.
Through its Powered by We business, WeWork already designs and manages office space for large corporates. Enterprise offers of this kind – targeting flexible space at corporates – are well established with the likes of Regus and The Office Group also pursuing this segment.
But there is something additionally seductive in a partnership between WeWork, Amazon and Manchester. Two of the world’s most dynamic companies and arguably the most dynamic UK city of recent years should make for an offer that will be closely watched.
■ With all the negative sentiment towards retail, you won’t be surprised to hear there is little appetite for shops in the auction room either. But, as Acuitus’s Richard Auterac writes this week: “Auction buyers are placing greater value on the ability of independent retailers to deliver viable investments. The average yield for an investment let to an independent is now stronger than for the average ‘national multiple’.”
Remember that old adage about the auction room being an early indicator of wider market sentiment…
■ When EG launched Radius Data Exchange in April with the support of the biggest agents in the market, we said the contributory data exchange would help agents deliver better advice to clients and ultimately do more deals. Many more agency firms from across the UK have already committed to start sharing their data, with more than 75,000 deals expected to flow through in year one.
CBRE, JLL, Savills, Colliers International, GVA, Knight Frank, BNP Paribas Real Estate and Gerald Eve were among the first to commit. Cushman & Wakefield, LSH, Bidwells, Carter Jonas, Alder King and Monmouth Dean are among those to have come on board more recently.
Kate Morgan, head of UK operations at Colliers, believes it’s “massively important” for agency firms of all sizes from all regions to come together to share data.
Simon Pritchard, senior partner at Gerald Eve, says Radius DX is helping his valuers take a broader view of the market.
And for James Sparrow, chief executive of Savills UK, it’s a question of “being efficient and accurate”.
It’s already clear just how powerful this new tool is proving for those who have signed up. Find out more at www.egi.co.uk/radiusdx
■ Workplace “protagonist” Neil Usher made a good point on Twitter this week about how businesses can learn a lot from the World Cup: “The England team showed that you can lead and compete while still being decent, respectful and humble – and that an ego isn’t necessary… hope we start to see a lot more of that in organisations.”
■ Just a brief word on the appointment of the eighth housing minister in eight years: there can be no credence in government claims that housing is a priority when it shows such contempt for the office responsible.
To send feedback, e-mail damian.wild@egi.co.uk or tweet @DamianWild or @estatesgazette
