LoopNet UK's Top 10 Stories of 2023
2023 was another testing year for some real estate professionals in the United Kingdom, but even slow markets can yield opportunities for big deals.
Some owners were making daring investments, like the English Cities Fund building the largest living wall in Europe, while others were interested in more modest opportunities, like purchasing a pub. Many were looking ahead at how artificial intelligence might impact the commercial real estate industry, or looking back at “Barbiecore” and its influence on design.
Whether it’s an article you missed this year or one you want to enjoy again, our top 10 stories of 2023 offer something for everyone to learn from as we embark on a new year.
Self-storage proponents will tell you that this asset class is “recession-proof”, with the potential for stable growth in the coming years. Even better, self-storage’s relatively low cost of entry and maintenance makes these properties attainable for individual investors. Still, due diligence is a must before entering the market. LoopNet spoke with a top UK self-storage broker to glean the basics.
The 1899-built Generator Building along Bristol’s Floating Harbour once powered the UK’s first electric tramway. Now it’s “abuzz with new energy”, as creative coworking offices, LoopNet editor Joe Beeton wrote.
“Now a Grade A office, the Generator still looks much like it did at the end of the 19th century,” Beeton wrote. “The panes within its cathedral-like arched frames were replaced for more pristine views of the river; its red ashlar façade was restored to its most robust; and its grandest Venetian window now serves as the building’s main entrance, beckoning visitors in from the street through glass doorways.”
The newest office tower in Salford’s New Bailey development features a wrap-around curtain wall containing 350,000 plants across 32 species, making it the largest living wall in Europe.
The green wall not only contrasts with Salford’s otherwise grey skyline, it also adds insulation to the building's envelope, contributes to water retention and reduces urban heat-island effects.
“It has an identity unlike anything else”, Stuart Fraser, partner at Make Architects, which designed the living wall, told LoopNet.
With so much space sitting vacant and appearing likely to remain that way, many owners of underperforming shopping centres are turning to new uses to bring their assets back to life. In general, their efforts can be divided into three different approaches: Revitalise, Reimagine and Replace. LoopNet’s Andre Simoneau spoke with experts to detail the latest shopping centre redevelopments in the UK.
As the name suggests, this award-winning office tower in the German state of Bavaria is driven by the fantasy of fairy tales. Except here, Rapunzel’s hair is interpreted as a 14.5-meter spiral staircase that twists from the basement to the roof of the German headquarters for organic food producer Rapunzel Naturkost. Natural light and sustainable building materials abound in this storybook workspace profiled by LoopNet’s Lili Monette-Crépô.
For many British people, it’s not hard to imagine leaving a corporate job for a laidback lifestyle serving customers from the other side of the bar.
But running a pub in real life is much different. LoopNet’s David Matthews spoke with experts to find out everything you need to know if you’re pursuing a proper pub to hang your hat.
Think of serviced offices like all-inclusive packages for office space, complete with furnishings, third-party IT and custodial services, and even snacks in the break room(s). And as more businesses in the United Kingdom evaluate how they work in the post-pandemic world, many are increasingly turning to serviced offices. This Q&A shares the basics of pursuing a serviced office for your workplace.
New artificial intelligence (AI) technology is estimated to disrupt up to 80% of jobs, and commercial real estate isn’t immune. It stands to reason that there are two near-term ways this emerging technology could change commercial real estate: with AI companies as real estate occupiers and AI as a new tool adopted by the industry. This Q&A with JLL’s AI expert shares how AI will enhance, not disrupt, the real estate industry.
Reach isn’t the only factor to consider when looking to sell or lease a commercial property. LoopNet spoke with a leading broker in London to dive deeper into best marketing practices for commercial property.
There’s no doubt the “Barbiecore” aesthetic was the look of the year, as the “Barbie” movie broke box office records and inspired new home décor, red carpet styles and more.
A few commercial properties were pink well before “Barbie” hit theatres over the summer, though. Leading the pack is an award-winning mixed-use tower in King’s Cross.
