Blackstock Consulting’s Daily Briefing

PropCast

Our weekly podcast has been running for nearly four years, engineered by broadcast professionals ensuring high-quality audio and top-class conversation. Informal, but highly informed. We partner with Property Week, who run high-quality articles alongside each audio episode.

We feature one-to-one interviews with company chiefs on BossCast and three-way debates on every imaginable topic.

If you would like to take part or chat to us about hosting your events or providing broadcast media training, do get in touch here with Blackstock founder Andrew Teacher.

Our latest podcast features Roger Wade, the serial entrepreneur and founder of Boxpark. In one of the last interviews before Roger stepped down from his position as CEO of the company, he sat down with Andrew Teacher to discuss his vision for the future of retail, what government and industry can do to save the high street, and why sometimes you should trust your gut over a spreadsheet – all in one of the liveliest episodes of BossCast yet.

Listen via Apple Podcasts or Spotify or Soundcloud.

Previously, Andrew spoke to Marcus Meijer, founder and CEO of MARK, the pan-European real estate investment manager formerly known as Meyer Bergman. Last year, the firm partnered with Credit Suisse to invest in rental housing in Germany and the Netherlands through its new residential platform DOMA.

“It’s very granular – it’s more granular in some ways than Crossbay in terms of the sizes of the assets that we buy. But that also makes us more competitive, because it’s just more difficult for competitors to get that close to the asset and to execute that strategy so quickly,” Meijer says.

Listen via Apple Podcasts or Spotify or SoundCloud.

Today in Numbers

$1 billion – could we soon see Europe’s first proptech unicorn? Piers Wehner writes in EG following the largest Series B proptech raise in Europe – $75 million raised by IMMO Capital – and Plentific’s previous £100 million Series C.

With increased levels of investment and growing attention from generalist VCs, it seems a question of when, and not if, Europe will have its first proptech unicorn.

Political Outlook

Boris Johnson became the first world leader to address Ukrainian parliament since the Russian invasion in February, Sky News reports

Speaking in a record address to the Verkhovna Rada, the Ukrainian parliament, the Prime Minister said Ukraine will “be free” in the fight of “good versus evil”.

Johnson’s address received a standing ovation from Ukrainian MPs, as he hopes such interventions will sure his footing with voters ahead of Thursday’s local elections.

The Conservative MP, Crispin Blunt, has announced he will stand down at the next General Election, BBC News reports.

Blunt, 61, apologised last month after heavy criticism for defending former MP, Imran Ahmed Khan, after his conviction of sexually assaulting a teenage boy.

The MP for Reigate, who has been in parliament since 1997, announced his resignation on Twitter after ‘increasingly tumultuous parliaments’.

Economic Outlook

A CitiGroup trader caused yesterday’s ‘flash-crash’ in Nordic-equity markets, reports Bloomberg.

The crash hit shares across Europe, with the main European share index falling as much as 3 percent at one point – a drop of €300 billion.

CitiGroup said the crash was caused by an employee who made a mistake inputting a transaction.

Uber Eats is partnering with Tesco to deliver groceries, reports Bloomberg. The joint grocery delivery service will be trialled in 20 stores across the UK.

Tesco has already partnered with grocery delivery service Gorillas, and has expanded it’s one-hour delivery service to over 200 shops.

Housing Market

The number of homes near parks has dwindled, as developers say they cannot afford them, The Guardian reports.

One in three people in England do not have nature near their home, with little to none in the most disadvantaged areas.

Dr Alex Chapman, a senior researcher at the New Economics Foundation, argues property developers have the upper hand in negotiations with councils over green space provision.

Retail, Leisure & Hospitality

A new coalition of retail giants has been formed to urge Rishi Sunak to reform Britain’s business rates, Sky News reports.

The ‘Retail Jobs Alliance’ includes Tesco, J Sainsbury, Greggs and Waterstones and represent an estimated third of the retail industry’s workforce, they argue that business rates should be cut and a new online sales tax introduced.

A ‘smart’ laundry detergent scheme refill scheme is being trialled at Lidl, Retail Gazette reports.

Shoppers at the Kingswinford, West Midlands, will be able to purchase a refill bottle at the same price as a single use bottle, shoppers will then save 20p everytime they refill the bottle.

Offices

Flexible office provider Huckletree has announced plans to double its office footprint with a pipeline of over 100,000 square feet, reports EG.

The company currently operates 150,000 square feet of offices across Manchester, London and Dublin and is targeting B Corp status, meaning future sites will have to meet strict ESG criteria.

ITV announced that they will be moving 2,000 staff from their Holborn offices to the former BBC Television Centre at White City, reports the Evening Standard.

The first tranche of 800 staff will occupy the Broadcast Centre building at White City Place this week. A further 1200 are due to move in by the middle of next year.

Planning

Vita has started public consultation on a new 967 bed student accommodation development in Nottingham, Construction Enquirer reports.

The site will include a large food hall, cinema, gym and dance studio.

One of the largest shopping centres in south Bristol, Broadwalk Shopping centre, may be demolished to make way for a cinema and 880 new homes, Bristol Live reports.

A previous plan for the centre to be replaced by a combination of 420 flats and shops was approved, but new developers are arguing that changing shopping habits mean that the development should have less shops and more homes.

Transport & Logistics

Amazon’s CFO has said the company has too many warehouses and staff members, reports React News.

The online shopping giant posted a net loss of 3 billion in Q1 22, and expects further losses in the next quarter as customers return to their pre-pandemic shopping behaviour.

React News reports that Firethorn Trust has acquired its second asset for its growing London logistics portfolio with the purchase of a 4.3 acre site in Rainham, in East London from Ryder.

Associate Director Dan Green says, “We know that there is strong occupational demand for last-mile developments in strategic London locations, offering excellent connectivity in the capital and to major cities across the UK.”

Sustainability

Reuters reports on the EU’s drafting of new legislation, to introduce a broader range of sustainability targets for companies to adhere to, replacing a patchwork of voluntary norms.

It comes at a time when authorities are clamping down on green-washing, and establishing standards to ensure transparency. Preventing investments funnelling into ‘sustainable assets’ without credentials, the sustainability disclosure standards seek to regulate business activity.

The EU’s Corporate Sustainability Reporting Directive is set to implement these mandatory environment, social and governance (ESG) disclosure requirements.

The Building Research Establishment (BRE) has launched a project to better measure the energy performance of UK homes, in collaboration with the Department for Business, Energy and Industrial Strategy, reports Property Week.

The new methodology, called Standard Assessment Procedure (SAP) 11, will be more suited to technologies designed to decarbonise homes, such as heat pumps, renewables and smart technologies.

Government’s 2025’s Future Home Standard regulations aim to fit new homes with low-carbon heating, to help achieve net zero targets.

Project director of BRE, John Henderson said: “As the UK begins to escalate its net zero initiatives, SAP 11 will be instrumental in the effort to decarbonise the nation’s existing housing stock and ensure the use of low-carbon heating in new homes.”

Construction

The construction industry has been rocked after an investigation found over 30 companies in London and the South East unwittingly employed victims of slave labour between 2009 andl 2019, Construction Enquirer reports.

The report by the independent anti-slavery commission found that over 500 victims were placed by an organised Romanian crime group into major construction projects with the workers often doing tasks such as cleaning and fetching and carrying.

According to the Insolvency Service, the amount of construction companies going out of business jumped from 127 in February 2021 to 307 in February 2022, a 142 percent increase, Building reports.

Insolvency Service’s report found that from Q1 2021 to Q1 2022 there was a 51 percent increase in the number of construction companies in critical financial distress, compared to a 21 percent rise in the broader economy.

Further Reading

The US Supreme Court has allegedly voted to overturn the landmark Roe v Wade ruling, that legalised abortion nationwide, according to a leaked draft majority opinion, says The Times.

The Times also reported that Amazon confirmed that they will expand medical coverage for its workers to include travel costs for abortions.

LANDMARK REPORT: Radical Capital

Blackstock’s new report mentioned in the Financial Times, The Sunday Times and the BBC.

Blackstock Consulting is proud to announce the publication of Radical Capital, our landmark new report into the Oxford-Cambridge Arc produced in partnership with Bidwells.

*Download your copy of the report here*

Radical Capital brings together over 60 of the most influential names from industries and organisations across the Oxford-Cambridge Arc, harnessing the power of collaboration across academia and the private and public sector. Contributors range from AstraZeneca and Santander UK to Wellcome Sanger Institute and Oxford Science Enterprises.

Our unique ‘capital’ approach, encompassing Knowledge, Global, Natural, Connective, Human and Future Capital, allows us to identify avenues of investment and expertise for the Arc to grow and develop. The report is a landmark of cross-sector collaboration, making key policy recommendations to supercharge the Arc and double its contribution to UK GDP by 2030.

The policy team at Blackstock has worked tirelessly over the last eight months to produce this report. Along with our Life Sciences Innovation report co-authored with Perkins&Will, we offer an unparalleled level of insight into real estate and the built environment.
ULI Europe Conference 2022: Connect with the World of Real Estate

Registration has now opened for the 2022 ULI Europe Conference: the Urban Land Institute’s flagship pan-European event, which brings together senior real estate leaders and experts to explore the extraordinary social, geopolitical, and macro-economic challenges and opportunities facing us now. The 26th edition will be taking place in person in Brussels, Belgium, on 11-13 May.

Prime Minister Alexander De Croo of Belgium will deliver the opening keynote speech and delegates will hear from renowned thought leaders, including Tina Fordham, partner and head of global political strategy, Avonhurst; Ronen Journo, senior managing director and head of European management services and operations, Hines; Nathalie Palladitcheff, president and CEO, Ivanhoé Cambridge; and Jonathan Rose (2021 ULI Prize for Visionaries in Urban Development Laureate).

The main conference sessions will be complemented by a busy program schedule that includes conference dinners, site tours, product council meetings, a Global Capital Markets Forum, a Young Leaders & NEXT Forum, as well as exclusive leadership events.

Blackstock delivers corporate and financial PR, research and thought leadership for some of the biggest names in real estate, architecture and proptech. We help companies launch platforms, raise capital, resolve crises and manage day-to-day communications with partners, customers and investors. Our 20-person team works tirelessly to deliver industry-leading, award-winning work.

These briefings are read by more than 12,000 people every morning. Make sure your colleagues and friends are as informed as you and have them sign-up using this link.

Please subscribe to PropCast, our weekly podcast covering emerging trends and leading voices. Get it from our website and via Apple Podcasts or Spotify. Check out www.blackstock.co.uk for our insights, case studies and reports.

Blackstock’s in-house research team produces all our content. Due to growing requests, we are now looking at introducing sponsored segments. Please contact our senior director Jamie Bullen, editor of the briefing, here.

Life Sciences Innovation: Building the Fourth Industrial Revolution

Our report Life Sciences Innovation: Building the Fourth Industrial Revolution is the most comprehensive report produced on the life sciences sector.

Produced in-house by Blackstock Consulting, and commissioned by Perkins&Will and Savills, the report brings together investors, academics and real estate industry professionals to investigate the trends shaping the life sciences.

Download the report on our website, or read The Guardian’s exclusive coverage.

If you’d like to organise a briefing, please email info@blackstock.co.uk

ULI Europe Conference 2022: Connect with the World of Real Estate

Registration has now opened for the 2022 ULI Europe Conference: the Urban Land Institute’s flagship pan-European event, which brings together senior real estate leaders and experts to explore the extraordinary social, geopolitical, and macro-economic challenges and opportunities facing us now. The 26th edition will be taking place in person in Brussels, Belgium, on 11-13 May.

Prime Minister Alexander De Croo of Belgium will deliver the opening keynote speech and delegates will hear from renowned thought leaders, including Tina Fordham, partner and head of global political strategy, Avonhurst; Ronen Journo, senior managing director and head of European management services and operations, Hines; Nathalie Palladitcheff, president and CEO, Ivanhoé Cambridge; and Jonathan Rose (2021 ULI Prize for Visionaries in Urban Development Laureate).

The main conference sessions will be complemented by a busy program schedule that includes conference dinners, site tours, product council meetings, a Global Capital Markets Forum, a Young Leaders & NEXT Forum, as well as exclusive leadership events.

Blackstock delivers corporate and financial PR, research and thought leadership for some of the biggest names in real estate, architecture and proptech. We help companies launch platforms, raise capital, resolve crises and manage day-to-day communications with partners, customers and investors. Our 20-person team works tirelessly to deliver industry-leading, award-winning work.

These briefings are read by more than 12,000 people every morning. Make sure your colleagues and friends are as informed as you and have them sign-up using this link.

Please subscribe to PropCast, our weekly podcast covering emerging trends and leading voices. Get it from our website and via Apple Podcasts or Spotify. Check out www.blackstock.co.uk for our insights, case studies and reports.

Blackstock’s in-house research team produces all our content. Due to growing requests, we are now looking at introducing sponsored segments. Please contact our senior director Jamie Bullen, editor of the briefing, here.

Life Sciences Innovation: Building the Fourth Industrial Revolution

Our report Life Sciences Innovation: Building the Fourth Industrial Revolution is the most comprehensive report produced on the life sciences sector.

Produced in-house by Blackstock Consulting, and commissioned by Perkins&Will and Savills, the report brings together investors, academics and real estate industry professionals to investigate the trends shaping the life sciences.

Download the report on our website, or read The Guardian’s exclusive coverage.

If you’d like to organise a briefing, please email info@blackstock.co.uk

You can tag us @BlackstockPR on Twitter or watch some of our broadcast work via our YouTube channel.

Blackstock Consulting is the UK’s best-informed and most respected real estate communications agency. More than just a proactive PR business, it supports clients across a range of services from public relations and crisis management, to thought leadership, fundraising and business development. Head to our website for more information.

Please reply to this email to get in touch if you would like any advice or even just a chat.

Best wishes,
Andrew Teacher and the team at Blackstock Consulting