You might feel the last 12 months have been a slog: challenging, tough and a year to put behind us. But banish those thoughts: 2012 has been so much better than that.
It has been an inspirational year. A euphoric year. And a year in which this country, this city and this industry showed what it can deliver if it really puts its mind to it.
London served up something spectacular. And it did so not once but several times.
From celebrations around the Golden Jubilee to the opening of Western Europe’s tallest building, we showed we could match ambition with delivery. And we did so again – and more so – with our staging of what, hyperbole aside, genuinely felt like the Greatest Show on Earth.
But 2012 was about much more than a series of one-off events that will retreat into the haze of dim and distant memory.
The Shard has changed the capital’s skyline forever, and its first office lettings appear within touching distance. The Olympics and Paralympics have transformed a cruelly neglected part of the city. The transformation of the South Bank continues with plans for the Shell Centre emerging this week.
And, yes, there is work to do but, as our review of the year shows, already so much has been delivered (p48). Even dear old Battersea Power Station has a new owner that just might finally build on the promise.
With the capital now the home of choice for international money looking for a safe and rewarding berth – as much as 70% of international investment going into property now lands there – London is truly the real estate capital of the world.
Congratulations to the winners of this week’s Estates Gazette Awards. All are worthy of the accolades. And while London has received a disproportionate share of attention this year – 2013 can only be anti-climatic in that sense – many of our winners’ successes were served up elsewhere: from the Birmingham-based achievements of our Young Property Professional Alex Carr to the stunning nationwide triumph of our Occupier of the Year, discount retailer B&M.
Speaking of the EG Awards, no sooner have the nationals concluded than the regional awards cycle begins. In 2013 we will again celebrate the best property company and adviser in eight English regions, Scotland and Wales, but we will be doing so a little bit differently.
The property company winners will be selected by the EG editorial team, who will base their decisions on activity – be it construction, investment, funding or space disposal. From next year, however, the winner of the adviser category will be crowned on the basis of EGi data. Our research experts will be crunching the numbers to determine who has transacted the most space.
Look out for more on the regional awards in the first issue of the new year. And to be in with a chance of lifting a gong in the adviser categories, make sure you send all your deal details to deals@egi.co.uk
Struggling music retailer HMV Group said this week it expected to breach its covenants next month as sales continued to decline. It won’t surprise many but was a reminder of just how tough it is on the high street – especially in a sector where so many consumers prefer the virtual to the physical. The Amazon tax backlash may alter some people’s digital shopping destination of choice, but it’s only likely to drive them to other websites and not instore.
Estates Gazette takes a break after this issue. The next edition of the magazine will be 5 January. EGi will updated throughout the holiday period and e-mail news alerts will appear as usual. Happy Christmas and best wishes for the New Year from the whole EG team.
