CoStar UK

Let’s dive into the #UKHospitality trends to know right now. ⬇️ https://bit.ly/4cVuRqB VisitBritain forecasts inbound visitation to increase by around 4% to 39.5 million visits in 2024, driven by improvements from source markets in Asia and US visitors. Downside risks remain, even though the economy shows signs of positivity. Pressures on UK household incomes are expected to continue, especially with homeowners looking to remortgage at higher interest rates than previously contracted, eroding disposable incomes and possibly affecting travel decisions in the coming months. Although London has always been and remains a focus for many developers, representing around 40% of the total rooms under construction, outside of the capital, regional cities like Manchester and Leeds will experience the largest room supply increases in the next 12 months, likely impacting top-line metrics in the short term.

The last 10 years have seen a significant shift towards the Build-to-Rent (BTR) and student property sectors, which now form core investment markets for #UKRealEstate. To enable CoStar clients to better seize opportunity, connect with the market and understand value in these emerging sectors, we’ve launched a curated database of BTR and student properties in the UK. Explore BTR and student inventory and sale transactions, helping you: • Find new opportunities from existing and planned BTR and Student properties • Access ownership, development, property management and agency records with contact details for BTR/student buildings • Explore previous sales to inform your strategy or advice • View owner portfolios in one place Request a demo: https://bit.ly/3WEDmRv

219 Carpetright stores have been closed with immediate effect: https://bit.ly/4c2SVqh 54 stores and two logistics hubs have been sold to CWHP, part of the Tapì Group, by joint administrators from PwC, leaving 219 stores immediately up for grabs. Learn more about Carpetright's #CommercialRealEstate portfolio in CoStar—including locations, lease and landlord information.

Bank House - Pilgrim Place is the first building to be completed as part of the Pilgrim Street development in Newcastle, winning it a #CoStarImpactAwards. The development aims to deliver more than 750,000 square feet of workspace, a public square, food and beverage, and five-star hotel. Bank House is a 14-storey office on the site of the former Bank of England premises, offering 360-degree views across the Newcastle skyline. It has become the home of several A-list tenants, such as Barclays, DAC Beachcroft, Oliver Wyman, Lycetts and Cubo Work. Congratulations to Christopher Turnbull and the team at Avison Young │UK who made it happen. Read more: https://bit.ly/3Sj12s3

CoStar's robust market data supports Balfour Pacific Capital Inc. in making informed investment decisions. Discover how CoStar's information is critical to #CommercialRealEstate success: https://bit.ly/4f8KEUE

What are the latest #UKRetail sector trends to know right now? ⬇️ Net absorption of retail space has turned negative over the past 12 months, following a big post-pandemic rebound in the previous year. The national retail vacancy rate has increased as a result, and average rents are beginning to decline again. Schedule a demo to see how CoStar’s #CommercialRealEstate insights can support your business: https://bit.ly/3Wogc1m

Meet the Labour MPs leading the charge to reform the UK's planning and housing system: https://bit.ly/3S1lHAA • Rachel Reeves - Chancellor: First female chancellor in UK history! Former Bank of England economist, now aiming to turbocharge the UK economy. She’s reinstating housebuilding targets and pushing for a growth-focused planning system. • Angela Rayner - Deputy Prime Minister and Levelling Up Secretary: MP for Ashton-under-Lyne, championing new towns and 40% affordable housing developments. Promises to ban no-fault evictions and abolish leaseholds. • Ed Miliband - Energy Security and Net Zero Secretary: Former Labour leader, now steering the UK towards becoming a clean energy superpower. Focused on energy independence, lower bills, and tackling the climate crisis. • Matthew Pennycook - Housing Minister: MP for Greenwich and Woolwich, working towards building 1.5 million homes over the next parliament. Advocating for a "brownfield-first approach" and new towns across England. • Jim McMahon - Minister for Levelling Up: MP for Oldham West, dedicated to addressing regional inequalities and driving the levelling up agenda. Learn more on CoStar News at the link above.

Catch up on the latest plans from Gaw Capital and City & Docklands in London's Docklands. ⬇️ • A 52-storey residential tower proposal set to replace two office buildings at 4 and 5 Harbour Exchange Square, with consent expected on 16 July from Tower Hamlets council's Strategic Development Committee. • The new development will feature 450 homes, a podium level for flexible retail, community, creative, and amenity uses, basement level blue-badge parking, new public realm, and landscaping. • The residential tower plans, submitted in 2022, propose a 175.7-metre tall building with 52 storeys and two basement levels, providing 480,000 square feet of residential space, including 120 affordable homes (35% by habitable room). Read more on CoStar News: https://bit.ly/4bEM46t

Bob Ghislandi, Site Selection, Real Estate Strategy at Bonchon, uses CoStar to save valuable time on #CommercialRealEstate market research. Request a bespoke demo to learn how CoStar can help accelerate your business: https://bit.ly/3VZyIvH

What does the Labour Party's #UKElection win mean for the future of #CommercialRealEstate? Dive into the latest insights from CoStar News, featuring expert opinions from Tom Bill, Stephanie Hyde, Melanie Leech, Nicola Gooch, Will Matthews, Mark Hall-Digweed, Mat Oakley, Toby Courtauld, Dr Walter Boettcher, Etienne Prongué, Justin Young, Daryl Perry, and Mark Allan. Read the article and subscribe to CoStar's weekly bulletins to stay ahead of the curve and discover how these changes could impact your business and investments: https://bit.ly/3Leafhg