When the news of Brexit was announced, there was concern and uncertainty throughout the industry, RICS reported in July; ‘The UK commercial property market has seen a significant drop in confidence and investor demand following the Brexit vote!’
However, as a recruitment business specialising in both retail and commercial property, we kept a keen eye on the news during and following the announcement. FM publications, newspapers and news stations have kept us updated on Brexit’s impact, and the current market appears to be performing strong (maybe the news is not as negative as first predicted).
Ultimately, the outcome was, and still is hard to forecast, and there is without question still some doubt and slowdown across the industry. So, while we wait to see the total impact of Brexit I thought it would be fitting to look at the current developments occurring throughout the UK and what we have to look forward to:
The Scalpel development is a commercial property currently under construction in the City of London. The building has gained the nickname ‘The Scalpel’ due to the nature of its of sharp, jagged distinctive appearance designed by Kohn Pederson Fox. The new building is set to be completed in 2017 at an impressive 190 meters tall, offering 500,000 sq ft of commercial space – making its mark in London’s skyline!
The initial plans for this development were challenging due to concerns over loss of light, however, a City of London spokesman said the building is “a major development which will result in significant improvements to the local area, increase floor space and help create jobs.”
22 Bishops Gate is now under construction and is anticipated to be completed in 2019. Once completed, the development will be 278 meters tall, offering 1.275million sq ft of office space! The glass and steel building will possess brilliant views over London and because of this, the top of the building will be a public viewing gallery to celebrate London’s beautiful cityscape.
The Croydon Partnership involves transforming Westfield’s and Hammersmith’s shopping centres (Whitgift and Centrale) into a world-class retail and leisure destination. This £1.4 billion regeneration programme is set to transform Croydon’s town centre and really develop the community. The final development will deliver over 1.5million sq ft of retail and leisure space and create 5000 new jobs.
The plans are expected to start in 2017, and all running smoothly, the development should be completed by 2020.
Meadowhall are proposing a new leisure hall to enhance the offering of the scheme; attract investment into the area; create jobs and boost the regional economy.
British Land has put forward a £300m expansion plan that will comprise of 330,000 sq ft of floor space.
Centre director Darren Pearce said the extension will be housed beneath a glazed, lattice roof “four times the size” of the roof at King’s Cross railway station. If the plans are approved, work on the new leisure hall is expected to begin in 2018 with a view to opening in late 2020.
As a business, we partner with leading businesses who either develop or manage iconic properties including; British Land, Canary Wharf, Westfield, JLL and many others that can be found on our website. If you are interested in discussing your career further and hearing about roles please don’t hesitate to contact Sebastian Osborne on 0161 694 9723 or email email@example.com
Sebastian Osborne, Facilities & Building Management, Foundation Recruitment