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The Latest Breaking News from CBRE

Despite strong economy, Texas cities grapple with excess office space

As remote and hybrid working become the new normal, major Texas cities are facing a decline in office tenants. It’s too soon to tell what that means for the vitality of downtowns.

The Texas Tribune

New home for Daily Record announced amid plan to vacate Clyde waterfront office

THE Daily Record is to leave its waterfront office building in Glasgow and move into a new space ...

The National (Scotland)

Prize-winning real-estate economist says the office market won’t improve for years: ‘This is a trainwreck in slow motion’

Several factors make it unlikely the office real estate market will rebound anytime soon.

Fortune

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John Lewis to seek £150 million from sale of 12 Waitrose stores

A sale and leaseback allows the retailer to monetize parts of its valuable store estate

Evening Standard

There's a housing shortage and an office glut. So why are there only 217 U.S. office-to-resi conversion projects in the pipeline?

Ongoing office-to-residential conversions are just a "drop in the bucket" of the projects to come, CBRE researchers say.

Fortune

Retailer demand for Oxford Street shops picks up pace again after turbulent period

Oxford Street was given a big boost earlier as figures showed retailers are queuing up to open new stores there, with more than 100,000 sq ft of deals in advanced negotiations.

Evening Standard

Ted Hand Elected SBE President

Hand succeeds Andrea Cummins, who served for two terms

TV Tech

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Luxury segment housing sales rise in top seven cities of India: Survey

CBRE South Asia Treal estate consulting firm announced the findings of the January-June ’23 residential sector survey data highlighting trends in the top seven cities in India.

The Hindu

‘Flexible’ space to increasingly feature in company office plans

Employers will increasingly seek a ‘flexible’ workspace option in their office portfolios within two years, a survey of property decision-makers has found.

Evening Standard

Few winners, many losers as office building debt and vacancy worsens

Only a handful of downtown buildings get most of the new leases as downsizing tenants give up space and commercial debt gets pressured.

Chicago Sun-Times

Bay Area tech layoffs hit mainly non-tech workers: CBRE report

SAN JOSE, California — The massive tech layoffs that have jolted the Bay Area job market have primarily affected non-tech employees of the companies that have orchestrated the local job cuts, a new report released Tuesday states.

Tribune News Service

Work starts on £5.5m revamp of Birmingham office block

St Philips Point is undergoing major facelift to create new office space and has also been rebranded Arca

Birmingham Post

Prolonged property slump looms as interest rates expected to top 6% until 2025

“ Our prediction for an 11% decline in residential house prices over 2023 doesn’t now seem so far away,” one expert said

Evening Standard

Glasgow's Forsyth Building sold for £9.7 million

Previous owners the Ambassador Group recently refurbished the former department store

Insider UK

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Birmingham Post

Chemicals firm Vuba expands South West operations with lettings deal

The Yorkshire-headquartered firm specialises in resin bound surfacing for driveways

Manchester Evening News

The five areas where Manchester's property market is dominating

CBRE's findings were informed by Manchester's projected population growth, with the firm estimating that it could increase by almost 6% within the next ten years

Birmingham Post

B&M, Everton and CBRE: The 48 latest North West hires and promotions

BusinessLive rounds up the latest hires and promotions across the North West

Birmingham Post

Bristol interior design firm wins multi-million pound contract to 'transform' city centre complex

Paramount has been tasked with providing a "high-spec refurbishment" for global investment bank Credit Suisse

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Evening Standard

Record number of London offices rented for £100 per sq ft

The deals are often driven by tenants looking for more sustainable offices in central LLondon locations.

The Orange County Register

Looking for a housing price crash? That’s unlikely, real estate economists say

The nation‘s housing market is going through a correction, not a crash.

Birmingham Post

Price tag of £12m handed to city centre office block eyed for major redevelopment

Hundreds of apartments could be created if a deal is agreed

Manchester Evening News

Co-op's landmark city centre HQ is put back up for sale

The building includes an auditorium, restaurant, convenience store, coffee shop, gym and fitness studio, as well as several roof terraces

Birmingham Post

Sale of Co-op's HQ relaunched with asking price cut by £45m

The building was first put on the market in June 2022

Liverpool Echo

Huge printing site up for sale ahead of closure and loss of 250 jobs

Company blames 'significant decline' in market since 2019 for closure

Birmingham Post

Huge printing site up for sale after 250 jobs lost

Prinovis is the UK's last remaining publication gravure printer with sales last year of more than £46m

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