Annual Review 2013 – 2014

The Urban Land Institute (ULI) provides leadership in the responsible use of land and in creating and sustaining thriving communities worldwide.

It is an independent global not-for-profit organisation supported by members representing the entire spectrum of real estate development and land use disciplines.

Founded in 1936, ULI has 32,000 members worldwide.

National Councils are ULI’s ULI UK is the largest National Council in Europe country networks which organise local events and activities. with over 700 multi-disciplinary members. Message from Andy Martin, ULI UK Chairman

It is a privilege to present our first ULI UK Annual Review summarising our activities over the last year.

I had the pleasure of taking over These complement the existing Our regular member events also as ULI UK’s Chairman in July Residential Council and I would continue on a diverse range of 2013. I had big shoes to fill like to thank Nick Jopling topics exploring key industry following in the footsteps of (Grainger) for his tremendous issues from ‘Design for previous Chairman, Marc Mogull efforts as former Chair and Investment’ to ‘Social Cohesion: (Benson Elliot). Marc handed me welcome his successor, Richard From the Tottenham Riots to the a well-structured UK Council, the Meier (Argent). The Product Olympics’. We have also largest in Europe, plus good Councils provide a private forum added a new Development Forum resources to embark upon new for leading experts in the field to led by Max James and Anthony programmes. discuss their views on the market, Gill (Quintain) to provide a programme that is meaningful consider current policies and mechanism for the development I got involved with the ULI and meets aspirations. engage with policy makers by community to gain exclusive because l believe it offers a Specifically, we will be: producing thought provoking insight, share challenges and uniquely global context to • Pursuing agendas to papers and initiatives. There is no ideas around new ways of activities in the UK. Our UK collaborate with city leaders in better example than the Build to delivering major development and market is rich in industry bodies convening public and private Rent Best Practice Guide regeneration projects. Our reach and our aim is to supplement their sector experts to address local produced by Nick Jopling and the into the marketplace has led to work with the ability to look challenges. We have plans to Residential Council at the invitational workshops for global cross-border at good practice run a series of ULI Technical encouragement of government. fund managers and capital from a global membership Assistance Panels in UK cities This Guide was the culmination of markets leaders too. We’ve also representing all fields in the built offering a way to address work utilising the ULI resources to actively participated in ULI Global environment. My vision is to build specific land use and the full: study tours to the USA, a and European initiatives and have upon this unique foundation development challenges broad group of contributors from been delighted to host events with during my two year tenure. through a community advisors, public and private senior ULI Trustees including engagement process that To do this we have created a UK institutions as well as government Jerry Speyer, founder of Tishman leverages ULI member Executive led by Amanda Keane bodies. Nick leaves us with a Speyer, Lynn Thurber, Chairman expertise. working with Alex Notay, Policy legacy which I am sure will be of LaSalle Investment Director, Robert de Jong, Project at the centre of a new market in Management and Joe Azrack of • Introducing an annual Manager and Tara O’Mahoney, the UK. Apollo Global Management. membership survey to ensure Coordinator. Our Board comprises the programming agenda is Our ambition is also stretching well-known industry leaders Our Young Leaders continue focused around membership beyond London. In the Midlands, reflecting the breadth of to trailblaze with their enthusiasm requirements. Adrian Bland (Wragge Lawrence experience we represent and I am and proactivity providing one of • Proactively collaborating with Graham & Co) has an impressive delighted to welcome Mike the best networking programmes US and Europe colleagues and line-up on his local board. They Cochran (Eastdil Secured) of any industry group. They third party partners. have grown both overall covering Capital Markets along should be particularly proud of membership and committee • Introducing an annual ULI with Nick Mansley (Cambridge their Mentoring Programme numbers with a strong public as UK ‘essay’ prize to build University), Professor Paul which is supported by a growing well as private representation on relationships with academia. Cheshire (London School of list of senior executives. Thanks to their committee to which Economics) and Vanessa Hale Alisa Zotimova who chaired the Of course, none of this is possible Professor Kathryn Moore a (Strutt & Parker) to continue the Young Leader Committee with without our Executive team, the prominent landscape architect has great work instigated by Rosemary such aplomb and we are delighted encouragement from our Board recently been recruited. This has Feenan (JLL) on Research. to have her successors in place and the engagement with you, stimulated events on the Co-Chairs, Ryan Matenchuk and our members. Thank you for public/private interface such as Our impact is further enhanced by Ben O’Neill. your support. our Product Councils. I welcome the 2013 European Investment Lee Polisano (PLP Architecture) as Bank conference. It has also So, looking ahead to the future. Chairman of our Product Councils. fostered a focus on regeneration, I want to ensure that we continue We have added new Product infrastructure and housing as key to develop the strong foundations Councils: Sustainability, chaired themes. We also held our first Marc passed on to me. Most by Kate Brown (Grosvenor) and event in Scotland earlier this year importantly, I want to increase our Infrastructure, chaired by with a plan to establish a Scottish engagement with our members Christopher Choa (AECOM). chapter as a priority. to ensure we are delivering a “The ULI Mentorship Programme is a great opportunity to get career advice from a senior real estate professional in an informal and confidential environment. My mentor has been of great help and his opinion is very valuable to me. I hope the Programme can expand further in the future and Young Leaders will benefit from it.” Young Leader.

“A thoroughly rewarding experience for all parties and not time consuming at all. ULI is all about ‘giving back’ and supporting young professionals at the beginning of their career and is one simple way we can make a difference.’’ Mentor.

Young Leaders

Open to all real estate professionals under 35 providing a unique forum to network with peers, gain exposure to senior industry professionals and access professional education and development.

ULI UK has a vibrant Young UK Young Leaders ran a diverse Exhibit – The Brits Who Built the Leaders programme run by an range of events over the year, Modern World. active committee. Chaired, until both educational and fun, ranging The highlight of the UK Young recently by Alisa Zotimova (AZ from Lunch and Learns with Leader year was the launch of Real Estate), the mantel passed leading property industry gurus - their Mentorship Programme. this year to Co-Chairs Ryan Joe Azrack, Chairman of Apollo With the aim to foster an Matenchuk (Stanhope) and Ben Commercial Real Estate Finance exchange of professional ideas, O’Neill (). and Ellen Brunsberg, Head of career experience and industry Capital Markets & UK Real Estate, expertise among young real GE Capital – to site visits and estate professionals and industry social events. These have veterans, the programme matches included exclusive access to young professionals with mentors The London Designer Outlet at for a twelve month period. Wembley Park courtesy of Quintain; the new 14 acre BBC The 2013 programme saw 27 Television Centre site, one of mentors appointed and thanks Stanhope’s flagship to the success of the scheme, developments; as well as a the plan is to roll it out again later private tour of the RIBA in 2014. Programming ULI UK ran a regular programme of events for members, 2013-14 highlights included:

Resilient Cities – A Practical Jerry Speyer. Reflecting back on “It’s great to walk into a ULI event and be surrounded by professionals Property Perspective a real estate career that has from all disciplines in the built environment and almost every continent! An exploration into how cities can spanned nearly four decades, It creates a rich and diverse atmosphere to share and to learn.’’ future-proof themselves with including 35 years at the helm Vanessa Hale, Strutt & Parker Christopher Choa (AECOM); of one of the world’s most Richard Barkham (Grosvenor); successful real estate and Mervyn Howard (formerly organisations, Jerry shared his Emerging Trends in Real Estate: Grosvenor). thoughts around the economy, London, Birmingham and the real estate market, and where Edinburgh Global Investor Appetite – Who’s future opportunities lie. Undertaken jointly by PwC and the Hungry for UK Real Estate ULI, Emerging Trends in Real Debating the future of global An Audience with Leo Hollis Estate® is an annual series of investment trends with Clare hosted by Giles Barrie of FTI forecast publications that reflect Emerging TrTrends the views of leading real estate ® Thomas (Nabarro); Anuj Mittal Consulting in Real Estate (Angelo Gordon); Jon Zehner Giles Barrie and Leo Hollis, the executives in three global regions Real estate returns Europe 2014 (LaSalle Investment author of Cities are Good for You – Americas, Europe, and Asia Management); and Hideto – a book which explores the Pacific. The 2014 Europe report Yamada (Mitsui Fudosan). slums of Mumbai to roof-top was launched in London in farms in Brooklyn, took a January followed by two further Breakfast with Jerry Speyer, fascinating tour around the world events in Birmingham and Chairman, CEO and Founding of the 21st century city and Edinburgh. Partner of Tishman Speyer revealed why we have Andy Martin hosted his misunderstood how cities Site Visit: White Collar Factory, inaugural Chairman’s Breakfast work for too long. London with distinguished guest speaker Celine Thompson () gave ULI members access to the inspiring “There is ever increasing interest in the ULI’s broad church development, White Collar and global reach reinforced by its not for profit / non lobbying Factory, London – a scheme that culture which creates true value for its members and for the is pushing the environmental communities in which we live, work and invest.’’ barriers and breaking traditional Simon Clark, Linklaters development rules. Design for Investment (LaSalle Investment Chris Choa (AECOM) chaired a Management); Matt Keogh dynamic panel exploring how (Linklaters); and Douglas M. Weill design can affect the performance (Hodes Weill & Associates). of a building as an investment using two examples of recent Stoke City Roundtable – London developments – Kings Site-specific workshop Place and Central Saint Giles. ULI brought together stakeholders The panel included Simon Wilkes and ULI members who (Legal & General Property) Peter volunteered time and expertise Williams (AECOM) and Peter to address the development Millican (Parabola Land). challenges facing a site which is strategically important for the ULI UK Fund Manager local economy. Workshop ULI UK’s fifth fund manager Funds working dinner with John workshop saw an audience of Forbes, Birmingham 70 members and their guests hear John Forbes presented and led the perspectives of four leading a discussion about changing fund managers from the UK and capital flows, how these might Europe plus two leading advisers affect UK regions, changes and in European Fund formation challenges for UK funds and the and global fund raising, opportunities for being a local Dale Lattanzio (DRC Capital); partner for a fund or directly with Graham Emmett (Cheyne Capital investors. Management); Amy Aznar Product Councils Through the exchange of information and the sharing of best practices, Product Councils offer senior industry leaders unique opportunities to further ULI’s mission focused around specific industry specialisms, allowing members to share ideas, opinions and information.

UK Residential Product Council residential sector. The report was In April 2014, Nick Jopling sponsored by the British (Grainger) stepped down as Government’s Private Rented Chairman of the Residential Sector (PRS) Taskforce and was Council. Nick established the developed in response to the Council in 2010 and has built it increasing demand for accurate, into an enthusiastic community. unbiased information in the UK Nick passed on the reins of the residential sector around the Council this year to Richard Meier potential for an expanded, (Argent) who has taken scalable and high-quality PRS immediate steps to shape the market. The Guide is a best Council for the future with the practice document that is introduction of new Vice Chairs; designed to be a reference tool for Russell Pedley (Assael the UK residential market and a Architecture); Mark Farmer benchmark for everyone involved “With millions of people renting their homes from private landlords, (EC Harris); and Paul Beadmore in the design, delivery and it’s vital we do all we can to increase the numbers of high-quality (Manchester City Council). ownership of Build to Rent properties on offer. This best practice guide from the Urban Land Institute, developed by a volunteer Steering Group of ULI’s The Council ran two Study Tours property. multidisciplinary members, offers clear information about how to to the US in 2013 for members to The Residential Council deliver the best quality homes for tenants – whether as an interested explore the multifamily housing Programme will be focusing on investor, or a developer looking to move into this market.” industry as a possible template delivering the Build to Rent Guide Kris Hopkins, Housing Minister for how private rented could be in regions across the UK as well delivered in the UK. Members as exploring new areas in the year visited Washington DC, Boston ahead including increasing Olympic and Paralympic Games, and Chicago covering a range of capacity, the role of affordable the panel of speakers outlined Urban Land Institute DEVELOPING FOR HUMANITY 2013 Annual Report affordable, market-rent and luxury housing providers and the their individual experiences of rental developments alongside development of New Towns. these events as catalysts for private meetings with federal and extensive change within city officials, leading developers, UK Sustainability Product communities. The Council is owner-operators, architects and Council bringing together a broad group investors. These tours presented The ULI UK Sustainability Product of leaders to accelerate the rapid an unparalleled opportunity for Council launched in January 2014 uptake of sustainability in the leaders on the UK residential under the chairmanship of Kate property industry through a property scene to tap into the Brown (Grosvenor) with its first programme of inspirational insights and diverse experience of event - “Can a major event be the speakers and case studies the most senior decision-makers catalyst for a more cohesive focusing on four priority areas: and practitioners in the US. The This ULI UK Annual Review 2013 community?” During the debate, climate resilience – understanding invitation-only study tours were should be read in conjunction led by Kate along with Sir Stuart vulnerability to climate change limited to 16 places open solely to with the recently published ULI Lipton, Paul Brickell and Malcolm and adaptation options; existing ULI UK Residential Council Global Annual Review 2013 to Smith, participants shared their buildings: how to meet ambitious members and reflected a careful give you an insight into the scale experience from a broad range of UK government targets in existing mix of the multidisciplinary and breadth of ULI’s activities professional backgrounds, from stock; productivity: how human membership. worldwide. social enterprise and community behaviour impacts building The UK Residential Council also regeneration to development and performance; social cohesion: published its Best Practice fund management. Through the how to create strong liveable Design Guide for Build to Rent, a lens of the 2011 riots in healthy communities accessible seminal industry guide for the Tottenham and the 2012 London to varying income levels. “These study tours exemplify what I think is most valuable about ULI – its ability to be a ‘university without walls’ for its members. We were commissioned by the government’s PRS taskforce to develop a ULI best practice guide for build-to-rent in the UK. This opportunity would not have come about without the impact generated by these tours and will allow us to share our learning with the entire residential sector’’. Nick Jopling, Grainger

UK Infrastructure Product Council UK Capital Markets Forum UK Development Forum The UK Infrastructure Council, led Run annually, the Capital A brand new initiative for 2014, by Chris Choa (AECOM) is ULI Markets Forum is an the UK Development Forum, UK’s newest Council. They held invitation-only roundtable event, which is being led by Max James their inaugural meeting in which brings together a group of and Anthony Gill (Quintain) has March 14 with attendance from experienced participants from been created to provide a Heathrow, Transport for London, across the UK real estate capital mechanism for the development Network Rail, Prologis, Atkins markets arena. Disciplines community to gain exclusive Global, Greater London Authority represented include equity insight, share challenges and and the Academy of Urbanism investors, lenders, finance ideas to break down barriers and among others. The relationships professionals, agents and to explore new ways of delivering between infrastructure and urban advisers. The discussion major development and development are profound. The embraces the ULI ethos of shared regeneration opportunities and newly formed Council will be knowledge leading to broader is based around a series of exploring the enabling and collective understanding and the roundtables and behind the constraining effects of goal is to facilitate an open scenes site tours. The first will infrastructure on urban exchange of information and be taking place at Wembley Park development and the evolution experience among industry of cities. They will also be in June 2014 and is sponsored considering how ‘Big Data’ is leaders. The 2014 Forum was by Berwin Leighton Paisner and increasingly affecting generously sponsored by Nabarro . infrastructure delivery and urban and CBRE. development in big cities and changing the way urban land is valued. Thanks to our hosts and sponsors Councils and Committees AECOM | Argent | ARUP | AXA |

ULI UK Executive Committee Steve Hollis, LEP Berwin Leighton Paisner | Andy Martin, Strutt & Parker (Chair) Tony Hyde, Thomas Vale CBRE | City of Edinburgh | Kate Brown, Grosvenor Anthony Leonard, Hines D2 Private | Derwent London | Paul Cheshire, London School of Economics Simon Marks, EC Harris EC Harris | Ferguson Partners | Chris Choa, AECOM Alistair Reason, PwC Simon Clark, Linklaters Joe Reeves, Midland Heart Grainger | Grosvenor | Michael Cochran, Eastdil Secured Simon Samuels, Brockton Capital Hamptons | Charles Favard, CBRE Laura Shoaf, Wolverhampton City Council Hoare Lea | Linklaters | Nabarro | Martin Field, Knowledge City Partners Ann Marie Simpson, Homes & Communities Agency PWC | Quintain | RIBA | RTKL | John Forbes, John Forbes Consulting Chris Sinclair, Innes England Anthony Gill, Quintain David Smeeton, Colliers Savills | Stanhope | Vanessa Hale, Strutt & Parker Ian Standing, Associated Architects Strutt & Parker | Willmott Dixon | David Hutchings, Cushman and Wakefield Matthew Walker, Wragge Lawrence Graham & Co Wragge Lawrence Graham & Co | Max James, Quintain Jonny Whittingham, Harwood Capital Bill Kistler, Kistler and Company Young Leader Committee Nick Mansley, University of Cambridge Ryan Matenchuk, Stanhope (Co- Chair) Ashley Marrison, Tribeca Holdings Staff team: Ben O'Neill, Hammerson (Co-Chair) Ryan Matenchuk, Stanhope Hala El Akl, PLP Architecture Richard Meier, Argent Amanda Keane Patricia Bandeira Vieira, Hines Marc Mogull, Benson Elliot Executive Director Lucy Barrett, Grosvenor Ben O’Neill, Hammerson [email protected] Gemma Burgess, Ferguson & Partners Lee Polisano, PLP Architecture Rachel Bramwell, Deloitte Alisa Zotimova, AZ Real Estate Jeremy Coate, Cushman & Wakefield Residential Council Leadership Christina Forrest, Resolution Property Alex Notay Richard Meier, Argent (Chair) Nicholas Frank, Investra Capital Policy Director Paul Beadmore, Manchester City Council Vanessa Hale, Strutt and Parker [email protected] Mark Farmer, EC Harris Rachel Hanke, AIG Russell Pedley, Assael Architecture Sinead Kenny, APAM Ltd Sustainability Council Leadership Frances Ketteringham, Mayfair Capital Kate Brown, Grosvenor (Chair) Gergely Koós-Hutás, Hudson Advisors, Lone Star Funds Robert de Jong Malcolm Smith, Arup Lauren McLeod, Shepperd and Wedderburn Project Manager Simon Sturgis, Sturgis Carbon Profiling George Minns, Europa Capital Partners [email protected] George Tyler, Ekistics Capital Nikolay Ocheretin, Wainbridge Ashley Perry, JLL Infrastructure Council Leadership Lisa Recker, AECOM Chris Choa, AECOM (Chair) Arianna Ricciotti, LBS Tara O’Mahoney Co-chairs to be announced shortly Michaela Robinson, GE Captial Coordinator Midlands Committee Charlie Royle, Hansteen [email protected] Adrian Bland, Wragge Lawrence Graham & Co Elizaveta Shaforostova, CBRE (Chair) Donna Springall, Strutt & Parker Mark Barrow Clare Thomas, Nabarro Justin Benson, KPMG Rebekah Tobias, d2 Private Martin Field, Knowledge City Partners Oleg Vorobeichik, LBS Nick Gibb, Willmott Dixon Alisa Zotimova, AZ Real Estate Martin Guest, CBRE

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