UK Monthly Index – November 2018

UK Monthly Index – November 2018

UK commercial property values fall -0.4% in November thanks to continuing Retail troubles. 

  • At the All Property level, UK commercial property values decreased -0.4% in November while rental values -0.2%.
  • Retail sector capital values fell -1.9% over the month, thanks to a -3.0% for Retail Warehouse.
  • Office and Industrial capital values increase 0.2% and 1.0% respectively in November.
  • All UK Property total returns for 2018 to date reached 6.4%.

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Property Investment Yields | December 2018

Property Investment Yields | December 2018

David Tudor

David Tudor

Senior Director, UK Valuation & Advisory Services

+44 207 182 2689
david.tudor@cbre.com

Retail problems overshadow stability in other sectors.

  • Rapidly reducing rents and weaker yields continue to pull down capital values in the High Street, shopping centre and out of town retail sub sectors
  • Very thin demand for traditional retail assets
  • Industrial sector yields stabilising as rental growth overtakes as driver for growth
  • Investor demand particularly strong for London and South East assets
  • More stock available in the office sector but most not likely to transact until Q1 of next year
  • Development opportunities in core Central London markets are popular

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Long Income Index | Q3 2018

Long Income Index | Q3 2018

Lee Bruce

Lee Bruce

Senior Director

 

Dominic Smith

Dominic Smith

Senior Director, UK Research

Long Income Index | Q3 2018

• In the 12 months to September 2018, the CBRE Long Income Index delivered a total return of 10.0%

• Over the same period the CBRE Monthly Index reported a total return of 9.3%

• Long Income performance was driven by capital growth of 5.1% over the last 12 months

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UK Monthly Index Call – November 2018

UK Monthly Index Call – November 2018

UK commercial property capital values increase 0.1% in October as Retail woes continue

  • At the All Property level, capital values increased 0.1% in October while rental values were flat for the third consecutive month.
  • Industrial capital values increased 0.7% in October, bringing capital growth for the sector into double digits (10.2%) for 2018 so far.
  • Retail sector capital values fell -0.6% in October, pulled down by Shopping Centres (-1.2%).
  • Capital values in the Office sector increased by 0.4% over the month

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Listen to the November Monthly Index Call

Featuring Nigel Baly, Dominic Smith & Jonathan Smith

Property Investment Yields | November 2018

Property Investment Yields | November 2018

David Tudor

David Tudor

Senior Director, UK Valuation & Advisory Services

+44 207 182 2689
david.tudor@cbre.com

Retail Sector to move All Property Indices negative in Q4.

  • Reducing rents and weaker yields continue to pull down capital values in the High Street, Shopping Centre and out of town retail sub sectors.
  • Demand from private investors and Councils is for low risk, ie. rack rented, prime, assets.
  • Industrial continues to evolve with occupational demand in the logistics and distribution sectors growing, but reducing from retailers.
  • Investor demand for single units remains good, but more restricted than for multi-let South East estates.
  • South East office sector has seen a flood of new stock offered, the majority secondary by location, condition or income.
  • Regionally, demand remains strong but with limited opportunities in core cities.

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UK Central London Office Marketview | October 2018

UK Central London Office Marketview | October 2018

High take-up points to a strong year-end

  • Central London take-up was 1.3m sq ft in October 2018, remaining largely stable (-0.4%) and above the 10-year average level of 1.0m sq ft.
  • Availability rose by 7% in October to 14.7m sq ft, remaining below the 10-year average of 14.9m sq ft.
  • The amount of space under offer fell by 12% to 3.5m sq ft, but was above the 10-year average (+20%) for the eleventh consecutive month.
  • The largest deal of the month saw McCann Erickson acquire 146,400 sq ft at 135 Bishopsgate, EC2.

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