Commercial Research Services
Savills Commercial Research team provides a bespoke advisory service to clients, linking our analysis and expertise with local market knowledge from our network of commercial offices across the UK and Europe. Our clients include developers, financial institutions, occupiers, land owners, membership organisations and government.
Savills were commissioned to investigate the viability for the delivery of additional 500,000 sq ft of out-of-town business park space on an existing and established business park in the South East of England. The asset managers asked Savills to provide support to their argument that the delivery of the additional floorspace, in conjunction with adjoining landowners, would be beneficial for all parties involved instead of pursuing individual commercial property offerings. The report also had to highlight the need for additional or new office accommodation to cater for existing and in-coming companies. Attraction and retention of the large corporates in the market is key to deliver the expected economic growth for the town over the next ten years. The report also highlighted how the delivery of new floorspace out-of-town would not be detrimental to the town centre market and how the two geographical locations would complement each other in offering the right types of space to meet a wide range of occupiers’ needs today and in the future.
Savills were commissioned by the London Legacy Development Corporation (LLDC), who is delivering the post-Olympic legacy. The research objective was, to crystallise public domain information pertaining to the LLDC area concerning the delivery of new/refurbished commercial floorspace within the immediate area; the take up of commercial space; rental values achieved, including a discussion of any incentives apparent; and trends in the market that may affect the area. The LLDC wanted support of the notion that it is important to maintain the appropriate level and quality of floorspace, which has an impact on rent levels payable, to retain and attract occupiers to the LLDC area today and in the future. The need is to provide local commercial property opportunities at all levels of rent. The loss of too many sites to residential use is not appropriate for delivering economic growth in the area over the longer term.
Savills were commissioned to carry out a market research report and undertake three months of development consultancy, drawing on our global experiences with large sites to add value to the project by establishing the target buyer and investor market and by working closely with the project architects (Foster & Partners), engineers (Arup) and local planners to value engineer the masterplan and optimise land use strategies based on market demand, functionality and long term growth. In addition, Savills provided a financial appraisal of the entire development, comprising over 3.5 million sq m (Gross Build Area), with over 15,000 residential units, 4,000 hotel keys, a 70,000 sq m (Gross Lettable Area) retail mall, 200,000 sq m of Class A office space, 2 million sq m city park, marina and casino.
Subscribe to Savills News
Sign up for our Alert Service and keep up to date with the latest news, events and publications.