New landscape can give region real estate boost
Survey reveals confidence yields will surge
THE pandemic and Brexit could act as catalysts for a shift in commercial real estate returns on investment in favour of the West Midlands, new research suggests.
In a survey of real estate experts by financial services firm RSM, 85 per cent believed the West Midlands would achieve the greatest commercial yields in the next five years.
This was just one per cent behind London which maintains its position as the region set to see the greatest returns while the North West (79 per cent) and East Midlands (70 per cent) also rated highly.
Residential property was viewed differently, with neither the West or East Midlands featuring among the top three.
The survey also showed that 72 per cent of those based within the West Midlands believe changing working practices will be the largest influence on increased investment over the
next five years. The research goes on to illustrate that typical office-based roles would more likely become more remote working in nature and less London and southern-centric.
Over half (54 per cent) believe planning reform will make a difference in this region when it comes to government policy for the sector while under a third (27 per cent) said HS2 would make a similar impact.
Industrial property and data centres will be the subject of the most investment over the coming year, according to the research, followed by residential property and the private rented sector.
Elaine Shiels, partner and head of real estate in the West Midlands at RSM, said: “The global pandemic and Brexit have combined to present economic and geopolitical conditions and prospects that will change the real estate sector for good.
“Our survey supports the notion that both events could be acting as a catalyst for disrupting the traditional order of asset classes as seen with the rise of data centres; rebalancing where in the UK we will see the greatest returns on investment, particularly within the commercial sector in the West Midlands.
“The survey tells us that regional cities are an increasingly appealing prospect and it is important that the West Midlands is ready to take advantage by ensuring the region is as open for investment as possible.”
NEARLY one in four women have suffered a fall in their income in the past 12 months, a survey has found.
These women, 23 per cent of those surveyed, may have lost on average as much as £5,500 of their annual salary, or around a quarter of their income, according to the calculations.
The findings were released by Fidelity International, ahead of International Women’s Day.
Income falls are affecting the ability to save and invest.
Nearly three in 10 (28 per cent) women said the amount they have saved in the past 12 months has reduced, 17 per cent of women have invested less, and one in eight (13 per cent) have decreased their pension contributions.
However, a fifth (20 per cent) of women reported their ability to save and invest had increased during the coronavirus pandemic, largely due to social restrictions meaning fewer outgoings and more disposable income to put away for the future.
Women in their 40s are particularly feeling the financial squeeze, with nearly a fifth (18 per cent) decreasing their pension savings over the past 12 months.
The income shortfalls could exacerbate gender pay, pension and investment gaps that existed before the coronavirus pandemic.
More than half (51 per cent) of
women said their career, mental health or physical wellbeing have suffered in the past year.
Two-fifths (40 per cent) of women who have experienced a fall in their income have been forced to dip into their savings to cover daily outgoings, while more than one in 10 have borrowed on a credit card to make ends meet.
Maike Currie, investment director at Fidelity International, said: “The last 12 months have undoubtedly challenged all of us. However, women have been - and continue to be - disproportionately affected by the pandemic.”
She continued: “Female-centric industries have borne the brunt of
job losses, furlough and income reductions, and women continue to balance this with more unpaid work like childcare and elderly care.
“Financially, the impact is significant.
“Reduced earnings and the already significant financial gender gaps when it comes to income and long-term savings, makes this particularly concerning.
“While the end of lockdown restrictions may now be in sight, the repercussions of women’s experiences over the last 12 months may reverberate long into their futures.”
Ms Currie added: “When we started our women and money campaign back in 2018, our aim was to get more women engaged with investing and preparing financially for the future.
“While circumstances have changed in the pandemic, encouraging more women to invest just small amounts will be important to ensure that this doesn’t result in a permanent step back.”
More than 1,000 women were surveyed across the UK.
Jane Goodland, corporate affairs director at Quilter, said the Government should encourage firms to consider “what more can be done to ensure the workplace is one in which female talent can thrive”.
She continued: “The gender pay gap reporting regulations have been a good first step, but more now needs to be done to get women into senior level positions and ensure they are better protected when the next crisis comes around.
“Increasing financial confidence through education and engagement will go a long way to ensure women participate more in the personal finances of the nation.
“Data has shown women often make better investment decisions and will make more sensible financial decisions, but they are often held back by a lack of confidence.
“As we rebuild, we should have an even greater focus on making policy decisions that are better informed by the challenges and barriers that exist for half the population - we must learn the lessons from this crisis and find a way to build back to a more equal society.”
ASTUNNING, historic home situated in majestic grounds once owned by Henry VIII is for sale for nearly £1 million. Groveley Hall, set in more than six acres of grounds near Northfield, is an imposing country home with 17th century origins situated on the site of the original Groveley Hall, which dated back to the 13th century.
Ownership of the estate can be traced back to 1536, when it was confiscated by Henry VIII from the College of Westbury.
The current property, on the edge of the city close to the Worcestershire countryside, retains period features in some of its rooms, including beams, quarry-tiled floors, a grand inglenook fireplace and strip-panel latch doors.
Its four bedrooms ooze character, while the living quarters are also brimming over with history. Walking into the property is a journey back in time. From the hall there is a door into the large sitting room with dual aspect windows. From here there are doors to the drawing room and formal dining room. The grand space of the drawing room is perfect for entertaining, with a charming inglenook fireplace and period beams, which give a warm and cosy feel.
There are French doors overlooking the gardens and two additional windows giving it a light and airy space.
The sales agent’s description says: “Located directly off the drawing room is a large study area. This area would also make a superb play area or snug. The formal dining room has period ceiling beams and a door into the large kitchen breakfast room, which has French doors over- looking the extensive gardens.”
The kitchen has a farmhouse feel with wall and base units, breakfast bar and a deep green Aga. There is a door into the utility room and stairs to a bathroom and dressing room, further leading to bedroom three. From the hall, the main staircase leads to all four bedrooms, along with the large family bathroom. The master quarters benefit from stun- ning views of the grounds and a superior dressing room.
The house has outbuildings and car ports and is near to the villages of Hopwood, Alvechurch and Barnt Green. It is for sale with Purple Bricks for £995,000.
Fes wool tufted pouf. Made, £99