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Regional city development remains broadly resilient

Belfast, Birmingham, Leeds and Manchester have defied market challenges after delivering nearly 2.5 million sq ft of office space in 2020, a rise of over 547,000 sq ft more than 2019, according to Deloitte’s Regional Crane Survey.

The Crane Survey, which monitors construction activity across a range of sectors including offices, residential, hotels, retail, education and student housing, shows that a further 3.61 million sq ft of office space is currently under construction across the quartet of cities. Residential delivery increased nearly 67%, rising by 3,290 to 8,197 new homes completed in 2020. A further 18,912 residential properties are currently under development in the four cities.

The cities have delivered 5,405 student bed spaces in city centres, with a further 3,485 in development as universities and private student accommodation providers continue to invest in both teaching accommodation and student housing.

Simon Bedford, partner and regional head at Deloitte Real Estate, commented: “Regional office construction was strong in 2020, despite some delays in construction caused by lockdowns. The office pipeline has softened somewhat, as developers take a ‘wait and see’ approach to future demand.”

Deloitte’s research indicates the shift to home-working could change how businesses use office space in the future, which, in turn, could influence how local residential areas are used. This could potentially shape the role of neighbourhood set-ups to create more diversity within local centres.

Bedford said: “Our latest CFO survey showed that home-working is predicted to increase five-fold by 2025. The role of the office could flex to meet shifting demands for collaborative and creative space, as organisations revaluate their needs.

“Looking at residential, there’s a major focus for new developments to provide outdoor space and community facilities. This reflects a growing trend towards small-scale retail and leisure offerings as part of wider mixed-use developments, helping to create neighbourhoods and foster a sense of community. In turn, this could have a positive knock-on effect for the high street. For example, our future of the high street research suggests an increased focus on localism and a greater level of commitment to small independent businesses that can easily identify the origin of their goods. Therefore, all things considered, 2020 will be one of the stronger years in overall terms and points towards the ongoing renaissance of our major UK cities.”

Daniel Barlow, managing partner for regional markets at Deloitte, added: “There are real signs of recovery and resilience across the UK, and it’s incumbent on us all to maintain momentum to ensure that all cities, towns and villages level up.”

Commercial real estate consultancy appoints new associate director

Advisory Excellence is pleased to announce that 2017 BYPY Finalist, Charles Jones, has been appointed associate director within Lambert Smith Hampton’s capital markets team.

Charles said: “I’m excited to join Lambert Smith Hampton where I’ll be working closely with a highly skilled national hotel specialist team. Simon Stevens, David Creamore, Martin Davis, Dan Whittaker and Hugh Anderson are all industry leaders and very respected by operators within the sector,” said Charles, who will be based in LSH’s Birmingham office.

“I’ll be working hard to advise on a variety of transactions including independent, corporate, single assets, and portfolios, and developing relationships with existing and new clients.”

Charles added: “LSH has departments across the entire property spectrum, from building consultancy, lease advisory, planning and development, auctions, property finance and business rates, and I believe sitting closely to all these teams will help me develop my skill-sets.”

About Lambert Smith Hampton

Lambert Smith Hampton is one of the UK and Ireland’s leading, and most progressive, property consultancies with over 40 offices and 1,700 staff nationwide.

If you would like to find out more information about LSH, please visit https://www.lsh.co.uk/

Meet the BYPY 2018 Winners

Laura Thursfield took the overall title of Birmingham Young Professional of the Year (BYPY) on Thursday 24th May as guests from the city’s business and professional services sector attended BPS Birmingham Future’s flagship awards ceremony at the ICC.

Each year BYPY celebrates the city’s finest talent across six award categories, with one category winner taking the highly-coveted title of Overall BYPY Winner. For the second time, 2018’s winner also received an Executive MBS from Aston University worth £20,000.

In addition to category winners, BYPY also recognised an exemplary figure and role model within the professional community with its Inspiring Leader award. Lorna Gavin, Head of Diversity, Inclusion & Corporate Responsibility at Gowling WLG, received this award.

The Aspiring Talent category, which recognises exceptional individuals aged between 16 and 24, was named as Daniel Goddard, Trainee Solicitor at Trowers & Hamlins LLP.

BYPY 2018 Winners

Overall Winner and Winner in the Finance category
Laura Thursfield, Mazars

HR, Recruitment & Training
Gishan Abeyratne, BCL Legal

Legal
Chrissie Wolfe, Irwin Mitchell

Marketing & Comms
Tru Powell, Alternative Events

Property & Construction
Kuli Bajwa, RPS Group

Technology
Sarah Mullett, Legal & General

Aspiring Talent
Daniel Goddard, Trowers and Hamlins LLP

Inspiring Leader
Lorna Gavin, Gowling WLG

For more information about BYPY, please visit: http://bpsbirmingham.co.uk/bypy/