EDITOR’S COMMENT Regardless of whether they are expanding, shrinking or just trying to negotiate fresh terms on contracts, there will always be work to be done for retailers. Which is probably why CBRE has agreed to buy specialist retail agency CWM.
That said, when EG broke the news late last week, the move raised eyebrows.
Buying a specialist team of industrial experts, life sciences specialists, residential gurus or data centre geeks would be expected in the current climate, with these sectors all booming and the race to be the very best adviser firmly on. But retail? Surely the advisory sector doesn’t need more retail agents, right?
But perhaps CBRE is on to something. The firm is big enough, and data-savvy enough, to have a fairly robust image of the retail and leisure sector going forward. So maybe it is getting in early on a potential flurry of fee-producing activity.
UK chief executive Ciaran Bird says the firm is anticipating a “significant rebound” in market activity and a continuation of “large-scale repositioning”.
The stark increase in the cost of living will undoubtedly lead to more pain in the retail sector, but will all the alleged saving we have done during the pandemic mean that we’ll still keep shopping? And will our increasing return to what feels like the good old days mean we’ll increasingly venture into shops?
CWM founder Scott Murdoch certainly seems to think so. “We are already seeing a significant bricks-and-mortar bounce-back in the retail and leisure market in the wake of the pandemic,” he says. “And while the retail landscape has changed profoundly, it is now universally accepted that retail stand-alone store representation is an essential part of this multi-channel world we live in, and that it is likely this will always be the case.”
New year, new housing minister
Another thing that is likely to always be the case is the fact that anyone holding the housing brief for the government is unlikely to have the job for more than two years.
This week’s mini shuffle saw Chris Pincher pushed out of the housing role and replaced by former whip Stuart Andrew. Who? Exactly. It feels a bizarre move by Boris (although this should feel normal by now), given Andrew’s history. In 2016, he (and 71 other Tory MPs) voted against a Bill requiring private landlords (of which he is one) to make their homes “fit for human habitation”. Presumably he’s had a change of heart now, given his new boss has just laid out plans to roll out minimum standards across all private rented homes. He also previously voted to phase out secure tenancies and to require those on high incomes living in social housing to pay market rent. Landlords might love him.
I’m sure we’ll find out soon what his housing plans are, but in the meantime I’ll merely be celebrating the fact that he hails from Llanfairpwllgwyngyllgogerychwyrndrobwllllantysiliogogogoch in North Wales, and – as sources very close to him tell me – that any parties that may or may not take place at the Department for Levelling Up, Housing and Communities HQ will likely feature some very good plum cake, baked by Andrew’s own fair hand.
Could you be a Future Leader?
The biggest and most exciting news of the week, however, is that EG has launched its search for our very special “wildcard” space in the first EG Future Leaders of 2022.
This is an amazing opportunity for an individual in the industry to learn some invaluable skills and be part of one of the best and most rewarding programmes in the built environment. Click here for more details, and please do share with anyone you think should seize this amazing opportunity.
To send feedback, e-mail samantha.mcclary@eg.co.uk or tweet @samanthamcclary or @EGPropertyNews
