The property fundamentals in the ‘Glenny region’ remain sound, with logistics demand outstripping supply and office and industrial rents growing.
My hope is that the market doesn’t revert to type and do what it usually does in times of uncertainty, which is to sit on its hands and adopt a ‘wait and see’ approach.
I expect Crossrail will have a huge impact upon the mobility of labour across our region in 2019. Easing the pain on the Central Line alone will be a welcome result. From a market perspective, with direct journey times from Brentwood and the Home Counties into the West End slashed to 45 and 17 minutes respectively, the impact on the East London office market as a value proposition will be significant.
Resolution: Get a haircut and fully embrace AI and what it can do for our sector.
John Bell, managing partner and head of business space agency, Glenny’s
2019 forecasts: what lies ahead
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2019 forecast: John Bell (Glenny)