Research is an essential component of our investment process, adding value to your portfolio at a macro and micro level.
Our macro research looks to intellectually challenge both us as an investment manager and our audience.
By demonstrating a deep understanding of the broad drivers of multi asset class performance we can fully appraise both portfolio theory and strategy whilst challenging some of the perceived wisdom around the role played by real estate as an asset class.
At a micro level our research is an essential component of our investment process through the assessment of market and portfolio risk. This allows us to identify trends and opportunities in both the capital and occupational markets, ensuring that our recommended strategies remain appropriate whilst continuing to deliver superior risk-adjusted returns over the long-term.
Commercial property examiner Q3 2023After revisions to GDP, the UK economy is now estimated to be 2.1% above its prepandemic level but remains 3.4% below its potential level.
Commercial property examiner summer 2023A combination of sharply higher inflation and interest rates has created a cost of living crisis that has held back the UK economy. Following a lack of growth in the three months to February, the economy shrank by -0.1% in the three months to May.
Q2 2023 commercial property examinerThe UK economy has so far just avoided recession but following growth of 0.4% in January, the economy failed to grow at all in February.
Q1 2023 commercial property examinerForecasts for the UK economy signal that GDP will fall slightly throughout 2023 and into Q1 2024, as high energy prices and interest rates restrict consumer spending.
Q3 2022 commercial property examinerForecasts for the UK economy expect Inflationary pressures in the United Kingdom and the rest of Europe to intensify and exacerbate the fall in real incomes for UK households.
Q2 2022 commercial property examinerDespite a satisfactory performance by the UK economy so far this year, the risks of a recession are increasing.
Q1 2022 commercial property examinerRussia’s invasion of Ukraine will have major implications for the world economy and has raised the possibility of a UK recession.
Q4 2021 commercial property updateThe UK economy is estimated to have grown by 0.9% in November 2021 and is now 0.7% above its pre-coronavirus (COVID-19) pandemic level.
Q3 2021 commercial property updateGrowing numbers of Covid-19 infections slowed the economic recovery in Q3 but the success of the vaccination program limited the number of hospitalisations and fatalities.
Q2 2021 commercial property updateThe UK’s commercial real estate market has been far more resilient in the face of the pandemic than was first feared in March/April 2020 after the introduction of the first Covid-19 lockdown.
Q3 2019 commercial property updateThe performance of the UK economy continues to be underwhelming. UK economic output has been disappointing since the GFC and expectations of the outlook for the next two years are lower still.
Q1 2021 commercial property updateThe third lockdown has had very little impact on the trajectory of macro-economic forecasts for the UK economy.
Q4 2020 commercial property updateThe UK’s commercial real estate market has been far more resilient in the face of the pandemic than was first feared in March and April after the introduction of Lockdown 1.0.
A quantitative approach to real estate asset allocation for balanced fundsConventional market cap weighted portfolios lack diversification, which has the potential to lower their returns and increase risk.
Q3 2020 commercial property updateThe combined fall in UK economic output in March and April amounted to -25.3% but was shallower than expected.
Q2 2020 commercial property updateWithout a vaccine or successful treatment for COVID-19, the recovery is likely to be slow and pro-longed. In the worst case scenario a second outbreak could result in 4 more years of economic decline.
Q1 2020 commercial property updateThe global economy is projected to contract by -3% in 2020. However, the pandemic fades in the second half of 2020 and the global economy is projected to grow by 5.8% in 2021.
Q4 2019 commercial property updateIn November UK economic output declined by 0.4% and year-on-year GDP growth decreased to just 0.5%; the lowest level since June 2012.
Q2 2019 commercial property updateIn the first edition of the new Cluttons IM Commercial Property Examiner, we explore the latest underlying economic and financial market drivers that help shape our real estate portfolio strategies.
London residential market outlookCluttons predicts that the London residential property market will fall a further 10% before prices begin to recover in a year to 18 months’ time.
Richmond Place, RichmondFollowing the systematic refurbishment of all floors at this high quality office in Richmond-upon-Thames, the building has been fully re-let at top rents for the town.
Poplar Park, AvonmouthWe have concluded a lease renewal at this modern industrial unit in Avonmouth, an established distribution location to the north west of Bristol city centre.
Peregrine House, RichmondWe gained vacant possession of this centrally located office building in 2016 and undertook a Grade A refurbishment including all-wooden floors, exposed ceilings, air conditioning and staff showers.
Boundary Park, Hemel HempsteadOne of our clients had an existing balanced portfolio, but our forecast for the market suggested greater gains could be made by overweighting to the industrial sector.
Mandela Way, SouthwarkThis built-from-scratch portfolio required a spread of sector assets. As a result, we identified an opportunity in Southwark, Central London.
Searle Crescent, Weston-Super-MareThe challenge was to maximise the return from an existing client portfolio.
Charity property investment: maximising incomeIn a climate of low returns, property can be a good investment for a sustainable income stream.
The next UK recession – not if, but when?The health of the UK’s commercial property market is inextricably linked to that of the UK’s economy. Given the illiquid nature of direct real estate portfolios, advance notice of a downturn in the market can be critical.
The True Value of a Dynamic Asset ManagerWhilst we applaud the launch of the INREV Asset Index, we would caution against an Index, based on past asset level performance, replacing time spent really understanding what differentiates the best asset managers from the rest. In the following article our non-executive chairman, Simon Latham, explores some of the issues.
Pension Fund Allocation to Real EstateAs pension funds look to further manage capital volatility through a reduced exposure to global equities aligned with the need for increased income to match liabilities, the search for an alternative proxy for indexed-linked gilts has become more focused.
Some welcome news for UK’s High StreetsA couple of weeks ago we commented on the latest gloomy high street news with yet more retailers struggling.
Managing estates from an investment perspectiveMatt Peake shares his commentary in this preview article, part of the Charity Finance Yearbook 2019: Challenges and opportunities in managing estates, which will be published early next year.
The changing dynamics of retail property asset managementReflecting on the troubles at Patisserie Valerie, it continues to be a year of turmoil for the retail sector, particularly for those with a primary dependence on bricks and mortar and a high street presence.
London’s office market trendsMatt Peake presents the opening remarks at Bisnow’s London State of Office event addressing some of the issues facing the occupational and investment markets.
Managing risk in a competitive marketJamie McCombe appears on Property Week’s Investment Think Tank panel to discuss low-risk ways of managing prime investments.
Investors focus on UK regions to boost office returnsWhilst Central London continues to attract significant global capital, investment in the regions over the last two years was up on 2016, with overseas investors accounting for a significant proportion of that.