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How the Real Estate Landscape Has Evolved
Words Jules Sheridan
During lockdown when some might say a little too much time has been spent listening to and reading various news sources determined to knock any of the natural positivity that I was born with right on the head – I had begun to believe that for one reason or another – the C(ovid) word of the B(rexit) word being two of them – that London was DOOMED.
After taking the time to speak to friends, colleagues and contacts offering a range of real-estate related services, I am writing this article with a restored sense of excitement. The more experts I speak to, the more surprised to hear so much positive feedback about the great capital City of ours – London!
Female Property Investors Lead the Way
Elina at London Lux Property reported that London currently is almost certainly the most desirable place not only to invest in real estate but also to live, which was quite an uplifting moment.
According to Elina “it is because people trust London. They love the history, the feeling of safety, and the friendliness of London. The security for their investment and for themselves.”
Elina is finding that recently a lot more women are investing in property for rental, and that they are tending to really look after these properties by spending well on interiors and on the infrastructure to ensure that they attract a tenant who will, in turn, look after the property. A circle of care.
Built-to-let Developments Innovate and Thrive
Safety for renters is a rising concern in a fluctuating market. In a world where human connection and trust sit at the forefront of all purchases, APO has cleverly taken the initiative to do things differently for renters. With sites at Kew and Barking APO’s offering reassures and empowers renters. Their beautifully furnished rental-only apartments, with two month notice on leases, is very appealing to me personally and to those that favour renting as a form of freedom. They have amenities that you can opt in or out of. Should you want to use their cleaning services, high-speed wifi, extra storage or handyman, you then pay for them, and if not you do not.
Each flat or studio has its own balcony/outside space, which is known to be helpful for good mental health, and from what I understand, each of their developments has either a view of the River Thames or carefully landscaped green space on the other side. Their teams work from the open-plan reception areas, so there is always someone around – this is less intimidating than the classic formal concierge. Their apartments can be taken furnished or unfurnished too which takes a lot of the extra worry away. They really are putting the renter in control of their life, removing a lot of the anxieties traditionally associated with renting. What I love is that like most new developments these days, the repurposing and evolution of how space is used. What would have been the entertainment centre area, is also now designed to be used as a home office. This helps to encourage a sense of community whilst remaining adaptable to the evolution of the needs of Londoners.
Individuality is Coming Home
Interestingly from an interior decorating perspective Jette Anderson tells me that people are really wanting colour back in their homes. Pattern and individuality and a feeling of warmth.
From a retail design point of view, each brand will need its own story, which is why an individual retail strategy is carried out by us each time we work with a new client and/or a new brand and depending sometimes on which city in the world it is for.
ESG Impacts Investors
From a broader development perspective, trends in ESG are making an impact on the way that real estate investors are making decisions and designing places. “There is growing recognition that working with communities and designing with, and for them, creates authentic, sustainable places that are more appealing to end users and generate better returns for investors,” says Louise Page-Jennings at Yoo Capital. Yoo Capital put this ethos into practice at every stage of the development lifecycle, from investment through planning, design, construction and operation. This shift in focus creates more opportunities for women to influence our built environment, with more positions on project teams, earlier stakeholder and community involvement, and more awareness from investors.
Shepherd’s Bush market, one of their projects, is a good case in point. Shepherd’s Bush Market is an interesting case study- no one has thought about the customer for years and it is failing. Women have always shopped in markets more than men and, as we at Sheridan&Co know, women make almost 80% of all spending decisions. When Yoo Capital bought Shepherd’s Bush Market, women said that it was dirty, intimidating and appeared unsafe. They have invested in security, cleaning, repairs, and maintenance. They are also encouraging female-led businesses to take spaces. As they evolve the designs for the area, they know they must design for women and local BAME communities.
Some of the families who stand market stalls there are third and fourth generation and this is very special.
We are sometimes asked as a retail design consultancy, to source properties in the “right place” for customers. One of the criteria people ask for is to be near other interesting, independent stores, probably family owned. You know the sort of thing? The “sort of thing” that was vital to us all in lockdown. The “sort of thing” who were flexible, brave, kind and personable, who smiled at us with their eyes over their masks and did not add to the absolute mass of delivery vans that were racing around the area.
The shops that gave us human contact and let us buy small amounts of things that we needed.
Everyone wants to live near a shop.