Property Matters; BIFM South Region CPD event
30-03-15 9:27 BIFM
It is a testament to those members who battled through the traffic to get the BIFM South Region event in March! A major incident on the M27 at 09:30 that morning led to the motorway being closed for nearly 24 hours, leading to the worst gridlock of the area for many years. However, a few members managed to find a way to attend the event hosted by Vail William at their Southampton office located in Ocean village.
In traditional FM style, those who presented decided to abandon the formal presentation format and gather in the board room to discuss the latest trends in lease management, service charges and corporate real estate issues.
Mike Greenwood gave an overview of the current lease trends and how they had reduced from the traditional 25 five year terms with few lease breaks to now a more normal three to five year term.
Mike Chalcraft and Mark Llewelyn–Jones gave an update regarding the Corporate Occupier and how by working collaboratively with tenants, the service charge could be well managed and use as an asset.
According to the three partners they confirmed that 2014 was the strongest year for occupier activity since the downturn in all the regional cities. Take-up was lower in the South East due to the amount of space under offer and lease event driven requirements but 2015 expects to show a marked improvement. The occupier recovery has also led to growing interest from investors, pushing yields lower during the year. It has also triggered a new wave of speculative development. All the big cities now have some speculative office development underway – the first time in almost a decade that this has happened.
Members had a superb opportunity to gain expert knowledge and discuss their own issues around leases and service charges. It was a case of getting close and personal because of the low numbers but all said it had been a great evening and had been please they battled the traffic.
The South committee would like to acknowledge their thanks to Vail Williams for hosting this event and providing refreshments and the three speaker for sharing their knowledge and experience. A copy of the presentation given on the evening is now available here.
BIFM South Region is supported by Hays Southampton.