Weekly round up from some recent Real Estate news
Leisure in the 21st Century
Leisure and restaurant industry adapting to 21st-century demand
The buzzword of the moment is "experience". Everyone wants to experience and that is what is being provided. Alternatively, people will happily watch a movie on Netflix, go to the pub, or stay an extra hour at work.
People need to be entertained and they need to feel active. The idea of food halls, bowling, and cinemas are not new concepts. Nonetheless, the demand for these types of activities is increasing. Their offerings have now evolved with extra additions such as including live DJs, a bar, or architectural design and unique features to the space.
The most recent concept to open is London's Market Hall flagship store in the West End. It is its third location and consists of 35,000 sq ft over three floors and it includes independent food traders, event spaces as well as a roof terrace.
Positive signs for UK Domestic Stocks
A recent report by Goldman Sachs suggests that UK Domestic stocks have underperformed compared to its more global peers since the Brexit referendum. They expect the stocks to bounce back as a result of growth in GDP to the UK economy. This is contingent on a conservative victory in the upcoming general election, a Brexit deal as well as fiscal stimulus being carried out. Could this mean positive signs for UK REITs such as LandSec, Derwent London, and Great Portland Estates? It might.
Goldman argues that domestic stocks are to recover and regain their lost value since the uncertainty caused to the UK economy since the Brexit referendum in 2016.
Proptech of the week
Sonder's purpose is to be a hybrid between a hotel experience and an Airbnb. They want to provide customers with services expected from hotels, whilst making the experience authentic by accommodating their guests in luxury apartments in city centers. The company designs, leases as well as manages the rooms.
The firm recently closed its Series D funding with an investment of $210 million led by Valor Equity Partners. This values the company at over $1 billion.