Each year, the UK Real Estate Investment and Infrastructure Forum (UKREiiF) brings together people from across the country to share insights, ideas, and the latest trends in the real estate and property industry. Their mission is to ‘connect people, places and businesses to accelerate and unlock sustainable, inclusive and transformational investment.’ This year’s event, held in Leeds, left me enthused about the opportunities we have ahead of us in the industry, with my stay in Leeds demonstrating just what’s possible with the right leadership and funding.
On arrival in the city, I was immediately hit by how vibrant it is: cranes everywhere, mixed use development to regenerate the city and connect six key neighbourhoods in full swing, clean streets, integrated green spaces, and the transformation of the transport infrastructure to allow an inclusive culture that will revolutionise connectivity and community. The city is a blueprint for urban development. Development that wouldn’t be possible without the government and private funding driving this change.
Driving change in the property industry
In a session hosted by the Labour Party in Scotland, we were invited to hear about their vision to drive economic growth, specifically through engagement with the industry. With a potential new Labour government on the horizon, there needs to be a clear strategy for growth in Scotland. MSP Daniel Johnson said, ‘’When the strategy is clear, we won’t need to articulate it’’, but that strategy needs to be strengthened by the government and local councils collaborating with the business community, and local people, to realise this change.
What’s the outlook for the commercial real estate sector? It all came back to working patterns and policy and how this impacts the future of these estates. Full occupancy isn’t on the horizon for most places, but a three-day return is, and seems to be pretty standard. What do developers and businesses need to do to maximise the potential and the value of their estates? Experience is what people need to come back to the office, which developers can action by putting in community spaces to support social value. On the other side of that, how do you make a building more attractive to potential tenants? ESG is an opportunity where you can differentiate yourself, creating or refurbishing buildings to have net zero credentials. Educating on embodied carbon and ESG are absolutely key in this discussion as we head into a future focused on sustainability targets in the built environment.
Working towards a brighter future
Scotland has a bright future with the renewable energy sector benefitting from Inverness and Cromarty jointly selected by the Scottish and UK governments to become Scotland’s first Green Freeports. Glasgow and Dundee are leading in the life science, bioscience, and tech sector. Capital chases skills: so that capital investment in these cities is vital to a thriving Scottish economy.
What underpins all of this is for councils to stop working in isolation and be far more efficient at turning round planning applications, working in partnership with developers, investors, education, and community. Many councillors attended this week, and I hope the message from us all is that tomorrow is too late, this needs action now!
Let’s enter a new chapter where every voice matters, every contribution counts, and in partnership creates success that inspires and preserves our cities for decades to come.
