Good morning, and welcome to your Thursday round-up of news, views and interviews from EG, plus some real estate-relevant stories from the papers.
JLL reckons a “tipping point” is on the horizon for office and logistics occupiers when it comes to the effect of carbon commitments on their leasing decisions.
The agency’s research, covering the US, Canada, Europe and Australia, found that one in three leases linked to a sustainability goal will expire within the next 24 months, although supply of space that meets the right criteria is “lagging” across major cities around the world.
But as we reported yesterday, there are some in the agency and investment world who question just how much of a difference a building’s environmental performance matters to the tenant.
I wrote some more about the issue in this week’s leader, and it’s a thread that runs throughout several stories from team EG this week.
Whatever lies ahead for the office market, developers will rise to the challenges. As BCO chief executive Richard Kauntze puts it in this comment piece: “The office sector has a unique opportunity to reimagine its role, enhance offerings and create environments that align with the changing landscape of work and business.”
All the news from EG, plus a selection of headlines from the nationals:
JLL sees ‘green tipping point’ for ESG and leases
Getting ESG on occupiers’ agenda – regardless of their size
The office of tomorrow must be an agent of change
API board urges shareholders to vote for Custodian merger
Final phase of Leeds’ Aire Park unveiled
DTZ Investors reveals Manchester Printworks revamp
Aledo Donabate gets approval for 1,000 homes north of Dublin
Savills raises £190m at auctions in first quarter
Office loans ‘living on borrowed time’ (£)
Bank of England expected to keep rate cut on ice for now
Average monthly UK rent up 9% – the highest annual increase recorded
UK housing developments axed as Tory planning reforms take effect (£)
City mayors put forward alternative to axed HS2 northern leg (£)
Unprecedented surge in offshore wind needed for Starmer’s net zero plan (£)
Luxury sector out of fashion as Burberry follows Gucci woes (£)
Homebase may disappear from Ireland as Kingfisher circles (£)
Junta tries to sell Aung San Suu Kyi’s house arrest villa for £117m (£)
How can we improve our position when property valuations are coming up short? (£)
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