Grade Offices News Today

declared in five regions, including auckland, as strong winds and heavy rain have brought down trees and damaged power lines. now on bbc news, talking business. hello, everybody. a very warm welcome to talking business weekly with me, aaron heslehurst. lets go take a look at whats on the show. the cities that went to sleep for the pandemic are waking up, but how much are the worlds great metropolises bouncing back and can they ever get back to where they were? with hybrid and remote wo...

now on bbc news, talking business hello, everybody. a very warm welcome to talking business weekly with me, aaron heslehurst. lets go take a look at whats on the show. the cities that went to sleep for the pandemic are waking up, but how much are the worlds great metropolises bouncing back and can they ever get back to where they were? with hybrid and remote working still in place in much of the world, what is the impact on our great cities, their restaurants, economies and property pr...

with police, outside a hotel providing refuge for asylum seekers on merseyside in northwest england. youre watching bbc news. now its time for talking business. hello, everybody. a very warm welcome to talking business weekly with me, aaron heslehurst. lets go take a look at whats on the show. the cities that went to sleep for the pandemic are waking up, but how much are the worlds great metropolises bouncing back and can they ever get back to where they were? with hybrid and remote wo...

as predicted, harry styles is one of the nights big winners. you are watching bbc news. now its time for talking business. hello, everybody. a very warm welcome to talking business weekly with me, aaron heslehurst. lets go take a look at whats on the show. the cities that went to sleep for the pandemic are waking up, but how much are the worlds great metropolises bouncing back and can they ever get back to where they were? with hybrid and remote working still in place in much of the wo...

Cap rate or your interest rate gives you your capital value, so as interest rates rises that tends to depress the value of offices. but its a really mixed picture. as i say, super prime offices in the hearts of cities, values are holding up extremely well. its the secondary grade offices perhaps with worse energy ratings that we see will probably suffer the most. megan, let me end on this, a prediction. five years�* time, will we be in our city centres more or less? i think were in our city ce...

People want to go. what holds up property valuations is the rents that people want to pay, so super prime, premium rents are holding up, people very much want those sorts of offices and so that is supporting those sorts of capital values. so we see the super premium offices probably have a 20% premium over more traditional standard offices. during the pandemic, rents actually held up surprisingly well, people continued to pay their rent. the other component for property values is interest rates....

During the pandemic, rents actually held up surprisingly well, people continued to pay their rent. the other component for property values is interest rates. recently we have seen a spike in interest rates. what that does is it tends to depress the value of real estate, so rent divided by your cap rate or your interest rate gives you your capital value, so its interest rates rises that tend to depress the value of offices. but its a really mixed picture. as i say, super prime offices in the hear...

Rates, just 4—6%. in the city of london which is more traditional, 8—10% vacancy, and in the very office heavy and at canary wharf, sort of 15 — 17% vacancy. what it is showing is we have demand for offices in some of the areas where people want to go. what holds up property valuations is the rents that people want to pay, so super prime, premium rents are holding up, people very much want those sorts of offices and so that is supporting those sorts of capital values. so we see the super p...

Its the secondary grade offices, perhaps with worse energy ratings, that we see will probably suffer the most. megan, let me end on this, a prediction. five years�* time are we in our city centres more or less? i think were in our city centres more. i think people want to come together to socialise. the draw of cities actually gets bigger in the era of hybrid working. if people dont have to go to the city centre so much for work, they are more likely to come into socialise. i think the great g...