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Famine to feast: are there now too many London offices to buy?
July 20, 2021 @ 12:30 pm - 1:30 pm
This year began with a dearth of new London office stock as the pandemic continued to delay would-be sellers from launching product to market. Fast forward six months and a string of trophy office buildings have been offered for sale in recent weeks as investors are lured back into the capital. But will they all sell and who will be buying – and will the increased stock have any impact on pricing?
Join React News‘ editorial director James Buckley and a panel of leading industry insiders for the discussion.
Panellists
Martin Kaye
Founder and Chief Executive Officer at Millennium Group
Born in Hong Kong and educated in the UK, Marty has over 35 years’ professional experience in Real Estate. He launched his real estate career in Hong Kong in 1984 at Richard Ellis (now CBRE), rising to Executive Director heading the Agency department, leading the Asia-Pacific investment and agency divisions His field of experience across the global property spectrum has extended from Hong Kong, China and South East Asia to the UK and Australia – with strategic expertise in Direct Investments, Build to Suit, Sale Leaseback, Land Amalgamation, Master Planning and Feasibility, Capital Raising and Financing.
In 1999, Martin established Millennium Group, initially acquiring Victoria Properties co-branding with Hamptons – In 2002 Victoria Properties was sold to Knight Frank and the group focused over the next 10 years on hospitality and residential development completing US$850M of project value. The Group also secured the Investment management for a US account acquiring 15 logistics assets in Asia over the course of 3 years. Recognising the potential of the UK property market growth, since 2011, Millennium Group has been advising Asian Capital on UK assets completing joint ventures with operating partners Allsop & Mapp, and has acted on £2.5 Billion of commercial transactions predominantly in London including 1-2 St James Square, 3 St James Square, 21 St James Square, 110 Cannon Street and Royal Scot Hotel in Kings Cross. Through the JV with Mapp, the group manages £3.25Billion of assets for 17 Asian investors.
Richard Garside
Executive Director, London Capital Markets at CBRE
Richard is an Executive Director and Head of the City Investment Team at CBRE having joined the company in 2017 from BNP Paribas Real Estate where he was Head of City Investment.
Richard has 25 years experience in the City markets and has transacted close to £5 billion of City of London properties since joining CBRE to include a number of recent high profile transactions such as 1&2 New Ludgate and 1 London Wall Place.
Ross Blair
Senior Managing Director and Country Head of Hines UK
Mr. Blair is Senior Managing Director and Country Head of Hines UK. During his time with Hines, he has been responsible for all investment activities for Hines funds and third-party capital sources in the UK. He served as Project Officer for assets within a variety of Hines’ discretionary funds from core through to value-add and opportunistic.
Blair is a Chartered Surveyor and graduated from City University, London, with an MSc in Property Investment. He is a member of the British Council for Offices.