Predictions for 2022: Brace yourself (part thirty)

Stuart Howell

Managing partner, Hartnell Taylor Cook

We have all heard the phrase ‘a flight to quality’, and in 2022, it could be the catalyst for significant change to the way landlords, tenants and advisers work together. Following Covid, occupiers are seeking higher-quality space to meet employee aspirations, placing a keener eye on details like air quality controls. Once nice to have, they are now critical.

The ESG agenda also gains pace by the day, requiring landlords and investors to further improve offerings. With Covid here for a while yet, this trend is only likely to maintain its incline. This means major change this year, not just for occupiers but for how landlords, tenants and advisers operate as one.

For example, our mechanical and electrical team is advising many of our landlord clients on improving buildings. In turn, new technologies will be essential for meeting demand, driving down costs and improving sustainable credentials.

Peter Garrett

Managing director, Keyland Developments

I can confidently predict that the continuing scarcity of well-located residential and industrial development land means we will continue to see increasing prices for both. This could be my prediction for every year going forward until the country faces up to and addresses land supply issues, which would involve having a grown-up conversation about development in the green belt and beyond.

With a development pipeline of more than 8,000 houses and 3.5m sq ft of industrial land all within ‘God’s Own Country’, Keyland is clearly in a good position to benefit from increasing land values, but looking at the country as a whole, it is an exercise in futility to carry on trying to meet the needs of a growing population without properly planning where they will live and work.