Current Activities & Pipeline

BEING COMMISSIONED

Flexible Space Market – Investment Threat or Opportunity
This study will examine what is happening within the flexible office market and what the implications for the property investment sector will be, providing a summary of how the market has evolved (growth, size, product, etc.) with a consideration of current and prospective occupational drivers and whether these are likely to continue or how they may change in the years ahead.

Appointment to be announced shortly.

Scheduled for publication Q4 2019

Global Capital Flows in a World of Increasing Nationalism and Protectionism
The investment management industry has grown rapidly in developed economies over the last 40-50 years, a period characterised by generally stable, peaceful relations between nations, rules-based economic order and political and economic leadership by democratic governments.

After a long period of stability leading up to the Global Financial Crisis, there appears to be a breakdown in the general consensus on how to deliver rising living standards and economic growth. Western democratic governments and civil institutions appear to be increasingly challenged by the demands of individuals and increasing power of global businesses.  Different views about national identify and sovereignty are changing politics, as international institutions, such as the WTO, the IMF and the World Bank, largely formed by western powers following WW2, are under pressure and facing an uncertain future.

To facilitate a wider industry debate, this study will postulate what a more nationalistic/ protectionist world would look like and what it could entail for real estate investors specifically – market participants in 2030 could be operating in a very different environment to 2019.

Appointment to be announced shortly.

Scheduled for publication Q 2019

CURRENT RESEARCH

Influence of Retail Structural Change on Sector Allocations in Real Estate Investment
Much has been written about the current state of bricks and mortar retail, in particular focussing on the health of the high street and shopping centres, in light of the impact of e-commerce on consumer purchasing of goods and services. There has been less discussion, however, of the influence of omni-channel retailing and the potential consequences this may have on allocations to the retail sector from an investment perspective.

The study considers the fundamental question of what influence to date the many changes in retailing have had on allocations to the sector within major, institutional/non-specialist real estate investment portfolios, and, significantly, what may replace retail, should long-term allocations to this sector decline. The investigation extends beyond the UK, to evaluate the current impact in a number of locations, including the US, Australia, France, Germany, Spain and South Korea.

Scheduled for publication Q3 2019

Benchmarking Real Estate Investment Performance: The Role of ESG Factors
The increased role that environmental, social and corporate governance factors play in influencing investment decisions presents key challenges to the industry, particularly within the context of increased internationalisation of real estate investment funds. This is an area that has seen rapid development in recent years and, consequently, the availability and consistency of market-based benchmarks vary across countries, which could affect the approach of international investors to benchmarking and lead to different measures being adopted for different markets.

Professor Graeme Newell from Western Sydney University leads a small team to conduct a comprehensive and critical analysis of current ESG practices and policies.

Scheduled for publication Q3 2019

Size & Structure of the UK Property Market: Review of Methodologies and Data Sources
Cass Business School, in association with Intrinsic Value Real Estate Advisers, has been commissioned to undertake a thorough review of this research, which will include a rigorous review of methodologies and an exploration of the new data sources that have emerged over the 13 years since the original study. A year-end 2018 update will also be produced.

Scheduled for publication Q3 2019

Long-term Valuation Methodologies in Real Estate Lending
Based on the findings of earlier work by the PIA Debt Group Long Term Value group, the University of Cambridge has been appointed to carry out a detailed analysis and independent testing of the methodologies that emerged. In partnership with the University of Reading, the research team will go on to review alternative inputs and test the efficiency of the models developed, exploring how these methodologies might work at the segment and sub-segment level.

For further information on this project, click here.

Scheduled for publication Q3 2019

Occupational Drivers of Investment Performance in the Logistics Sector
This report provides original insights into trends in the sector from supply chain consultancy Scoptima. Real Estate Strategies interprets the investment implications of these changes in occupier requirements to sector performance.
To access the report click here

Published April 2019