Last week, we welcomed 90 client guests to our Inaugural Insights Breakfast. Following a networking breakfast, AREA Directors Richard Servidei and Matthew Neal shared valuable insights on the Hotels, PBSA, and Multifamily sectors. We were delighted to be joined by Rt Hon Penny Mordaunt who provided a number of observations of key policy impacts on real estate. A Q&A session and further networking with Penny wrapped up the morning.
Key Takeaways from Richard & Matthew:
· Living sectors continue to outperform traditional commercial sectors.
· Labor costs are rising, impacting all living sectors.
· Consumers demand more choice, flexibility and value.
· There is a growing focus on experience and environmental impact within hospitality.
· Opportunities in hybrid buildings, forward funding hotels, and PBSA.
· Multifamily sees potential in maximising efficiency of operations, prop tech, and sustainability.
Key Takeaways from Penny Mordaunt:
· Real estate is crucial for economic growth but lacks government airtime.
· Interest rates will challenge the sector; planning is key for future growth and is the only real strategy the Govt has to drive development
· Labour is focusing on planning reforms, but big challenges remain.
· Expect public spending to be high, but the Budget will be tough.
· Listening to private sector experts and understanding the challenges and how to find a way forward is key. That’s what we want to see in Government in the future.
Missed it? Get in touch to find out more. We hope to see you at our next event!
