Realcast: Good news in retail sector, investors throttle back in Europe, job cuts on the cards
In the spotlight this week:
In a week that saw the appointment of the third UK prime minister this year, the country’s property markets wait to assess the impact. Meanwhile, in the retail sector Amazon figures revealed a lower-than-expected forecast for the festive season but also that shoppers’ return to shop in the high streets is having an effect on the online markets.
And while US-owned Ardent has completed on the acquisition of the retail element of the Royal Exchange in the City of London, retailer Gym Shark has opened its first physical store in London’s Regent Street.
Staying with the UK, a new science park development has been proposed in Cambridge and figures from Savills and the BPF reveal that the build-to-rent market could rise by a factor of five to reach £170 billion by 2032.
Still more Savills figures show that European investment volumes are likely to be down for the year and in the first three quarters fell by over 10% while Proptech firm Drooms found that transaction times have also increased, although ESG regulation could be part of the cause as well as the slowing market.
Meanwhile, Italian firm Coima has seen increased investment volumes and much of the activity is a result of foreign capital targeting Italy. The Italian hospitality market is also seeing strong activity and Rosewood Group has announced plans for a new hotel in Milan.
In other news, CBRE and Credit Suisse are both looking to cut jobs.
Click on the video to see the full discussion or listen to the podcast below.