Bpf Future Policy Agenda
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ISSUE 2 | SUMMER 2018 From 22 Bishopsgate BPF Legendary developer, Sir Stuart Lipton, FUTURE on his latest project POLICY Terrorism AGENDA prevention Melanie Leech, Curing past mistakes CEO of the British Property Federation, talks change The Arc Opportunities around the Varsity Line Serviced offi ces Student accommodation Technology in property COMMERCIAL JOURNAL ISSUEISSUE #1 #2 2017-18 SUMMER 2018 WELCOME BACK... “Welcome to issue two of Commercial In addition, I am proud to introduce, Journal. We set the bar high with in my favourite article, a selection of our first edition and I’m pleased to our people at Carter Jonas. We have say that I think issue two is equally a highly skilled and committed team as impressive, particularly in terms across all levels and it is refreshing to of our contributors. Once again we be able to showcase them. have focused on some of the most Thank you to everyone who has important matters relating to both given their time to this publication, it our society and industry; I hope that really is appreciated. you will find value in the thoughts I very much hope you enjoy reading Scott Harkness and insights presented in the Commercial Journal.” following pages. HEAD OF COMMERCIAL It is clear that there is plenty changing within our sector, some of which needs to be embraced quickly. With this in mind, we consider in this edition a wide range of topics, from planning against terrorism, PropTech and how offices can work better. “Concern over the economy has taken second place to personal and planning matters since the publication of the first Commercial Journal last November. Brexit grumbles on, but as BPF chief executive Melanie Leech says, not that much will change. The changes reflected in the summer ’18 edition are positive. The movement to bring women into more senior roles gathers pace. The desire for inclusivity is genuine. The views of the young are being sought as the web revolution snowballs. The pathways to property are opening up. People should find Sir Stuart Lipton’s views on the thoughts behind Europe’s largest office development illuminating.” Peter Bill CONSULTING EDITOR OF COMMERCIAL JOURNAL Contents 3 ISSUE #2 | SUMMER 2018 Editorial Peter Bill Carter Jonas property specialists Contents Marketing & Production Marketing Manager, Kate Valentine Art & Design Head of Graphic Design, Laura Gale Thank you to our content contributors Melanie Leech, British Property Federation; Sir Stuart Lipton; Clint 34. Commercial Trend Bartman, Fatima Ali, Empiric Student Property; Piers Scrimsham-Wright, The office sector is changing, Oxford Science Park; Stian Westlake, serviced offices are here to stay. Policy Adviser to the Minister of State for Universities; Andrew Appleyard, Aviva 06. We’re watching closely Investors; David Mott, Oxford Capital; Juliet Rogan, Barclays; Eleanor Prince, Ellie Hartland, Aurora Barrett, Jean-Pierre Choulet, Pathways to Property 10. Commercial Sector Focus: Photography Student Accommodation Aurélien Langlais Students want more. We spoke Thank you to all that contributed external to Hello Student about how the photography Commercial Interview 22 Bishopsgate, Hello Student, Oktra, Melanie Leech, chief executive of sector is evolving fast WeWork, Pathways to Property the BPF, talks housing, high streets, CONTACTS procurement and Brexit Commercial Property Agency Bath, Philip Marshall The rest +44 (0)1225 747260 12. Commercial Interview Cambridge, Will Mooney 04. COMMERCIAL ROUND-UP +44 (0)1223 315716 22 Bishopsgate is the biggest office Leeds, Chris Hartnell Want a peek into the coming +44 (0)1132 425155 development underway in Europe. pages? Peter Bill has summarised London, Michael Pain Sir Stuart Lipton reveals all +44 (0)20 7016 0722 his favourite articles Oxford, Jon Silversides +44 (0)1865 511444 18. Commercial Spotlight: Architecture & Building Consultancy 16. COMMERCIAL CHANGE Richard Love The Arc What’s happening in corporate +44 (0)20 7518 3200 It’s a hot topic right now. real estate in the UK and Valuations internationally? We discuss Dudley Holme-Turner We consider the opportunities +44 (0)20 7518 3200 along the new Varsity Line Property Management 24. COMMERCIAL PEOPLE Graham Pepper We introduce you to a handful of our +44 (0)20 7518 3200 42. Commercial Future people. You’ll be surprised at some of Consultancy and Strategy Few contest the fact that technology Alexandra Houghton their hidden talents +44 (0)20 7518 3200 is the future. We look at what this means for our industry Industrial Andrew Smith 38. COMMERCIAL INSPIRATION +44 (0)20 7518 3200 Pathways to Property is introducing International young people into our industry. Frédéric Schneider Hear their story +44 (0)20 7518 3200 32. 44. COMMERCIAL QUESTION Should architects be retained all the way throughout a project? Carter Jonas LLP, One Chapel Place, Hear our thoughts London W1G 0BG Commercial Concern 020 7518 3200 [email protected] Is the property world making 46. COMMERCIAL RESEARCH carterjonas.co.uk mistakes which could aid terrorists? Working with Revo, we’re looking to understand how ‘broken’ our town To keep up to date with all our Yes, more needs to be done news, follow us on twitter: centres really are @CarterJonas COMMERCIAL JOURNAL ISSUEISSUE #1 #2 2017-18 SUMMER 2018 Commercial News SUMMONING VOICES By Peter Bill MELANIE LEECH ON BREXIT (PAGE 06) “Property is not as aff ected as other sectors” SIR STUART LIPTON concedes the chief executive of the British ON 22 BISHOPSGATE Property Federation. “But we are worried about a (PAGE 12) loss of skills. In terms of sustainability and the like, “The our members problem would rather with like things EXPECT standard to stay the GOVERNMENT o ffi c e way they are. “ACTION ON buildings Nobody wants HIGH STREETS is the fi rst to see the thing you rules loosened. have to Some will see the ending of The Offi cial Journal” do when you enter is to wait,” says the of the European Union as a good thing. But I veteran developer of Broadgate and think people are being naive to think public Chiswick Park, the man now behind procurement rules will loosen. These rules the 1.3m sq ft 22 Bishopsgate, which protect public money and civil servants. The tops out at 912 ft later this year. “You Government won’t have much money for a long should think of the building as being a time to come. Public investment can only come via hotel. The concept is a vertical village: public-private partnerships. Our focus is gaining 22 Bishopsgate has the capacity to hold recognition of Build to Rent (BTR) as a recognised 12,000 people. There will be food on asset class and spreading the message to local fl oor two. On fl oor 25 there will be a authorities that BTR can very unusual gym which will contain help them achieve its own altitude room where fi tness housing targets. Expect fanatics can train in an oxygen- government action deprived space. On fl oor 41 will be a on high streets. We spa. On level 57 a club. The days of a are suggesting that single tenant occupying a building residential could like this are gone. There will almost play a bigger part, certainly be fl oors of fl exible offi ce perhaps through the space for those who need a whole or use of Permitted part fl oor for a fi xed period. When Development you see the completed 22 Bishopsgate Rights.” you will see the fi rst in the next generation of offi ces.” CommercialCommercial News News 5 Britain is currently planning to exit the European Union next Spring. This edition of Commercial Journal holds informative words on Brexit from Melanie Leech, chief executive of the British ABOUT PETER Property Federation. Also, Sir Stuart Lipton displays detailed Peter Bill is a journalist and author plans for 22 Bishopsgate, the single biggest office development of Planet Property. He edited in Europe. These two household names are just two of more than Estates Gazette between 1998 20 contributors to this second issue. Take instructive advice from and 2011 and Building magazine Carter Jonas senior professionals, find out what makes others between 1990-97. From 2007 to 2015 Peter wrote a weekly column for tick. Consultant James Dearsley warns of the challenges facing City pages of the Evening Standard. PropTech. Jean-Pierre Choulet, of Henley Business School, speaks Today he writes for Property Week. warmly on the rewards of the Pathways to Property programme. An edited selection of voices appears below. KATY DAVIS, JAMES DEARSLEY ON PROP-TECH (PAGE 42) CARTER JONAS, “PropTech is following on the heels ON ‘PLANNING of the FinTech explosion,” says the founder of The Digital Marketing (PAGE 32) BLOAT’ Bureau. “Blackstone acquired a “If I were to list the reports that have $3.3bn stake in commercial property to be put in some applications you management and leasing platform would think the world had gone mad” VTS in 2016. How is this a threat to says the planning partner at Carter property agents? Well the value chain Jonas. “The Government still talks here is that the property owner/ about streamlining the ‘planning JEAN-PIERRE CHOULET investor would hire a managing process’, you almost need to rip it up ON PATHWAYS TO agent to handle all day to day matters and start again. Outline planning (PAGE 38) arising from such a role and that the applications have almost lost their PROPERTY “These young students discover what managing agent would select the function, with some authorities they are capable of doing,” says the technology products of its choosing requesting extensive amounts of director of development at Henley ‘indicative’ information akin to a Business School. Choulet oversees detailed application. Applications SHOULDN’T MY the Pathways to Property summer that used to be three inches deep MANAGING AGENT BE school.