Business Leader | July 2023
The concept of launching the new venture was that there are several shifts taking place in the office market both on the demand side and on the supply side, that are all happening at more or less the same time. As a result, there is quite a lot of confusion about what’s actually happening in the market but, so long as you can see the wood from the trees, there’s opportunity amongst the chaos in serving the emerging submarkets within the broader market.
On the one hand, you’ve got changing working patterns post-Covid, with tenants and workers seeking something different from their office and on the supply side you all have net zero regulation forcing many buildings into irrelevance if they aren’t up to the correct energy standards.
The investment that we announced of £100m was in the form of an investment club, whereby a small group of investors and I have agreed to explore and commit to a number of projects in order to prove the thesis and then decide to raise further capital into a vehicle if there is an appetite to take it further forward.
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