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A revolution is coming, and our cities are changing. Following on from the previous post in our Smart and Sustainable Future Series on a Net Zero Future, there is an increasing focus on developing smart and sustainable real estate and infrastructure among governments, corporates and households alike. In this post we’ll take a look at some new materials and construction methods, smart solutions to the increase in demand on the electricity grid, as well as connected devices, the Future of Mobility and what a smart city of the future might look like.
At the start of a new decade, climate change, sustainability and the environment are climbing higher and higher on the agenda of governments, corporates and households alike. The science is now showing with alarming clarity that decisive action needs to be taken soon to avoid catastrophic and irreversible changes to the world around us. From the Australian bushfires to Greta Thunberg becoming Time Magazine’s Person of the Year in 2019 and a household name, there has never been a bigger focus on these issues. In this first post in our Smart and Sustainable Future Series, we’ll look at emissions targets over the next 30 years, how real estate can step up to these challenges, how energy infrastructure will need to change and how modelling can help break down the change.
Time to put landlords and tenants on the same side
Since the demise of Woolworths, I have spent much of my career at Deloitte reviewing the store portfolios of distressed retailers. Acting for administrators I have been both a landlord and a tenant; elsewhere in my career I have represented occupiers and managed retail portfolios for investors. I have experienced the landlord and tenant relationship from all angles, and it’s a relationship which is under strain like never before.
At Deloitte we promote all aspects of diversity, and aspire to grow a work environment that is truly inclusive and reflective of our broader society. In support of this working goal, Maggie and Christy from the London Planning team talk about their roles in championing Black, Asian and Minority Ethnic (BAME) representation across the wider Financial Advisory service line and Real Estate business unit respectively.
We all remember the tale of ‘The Three Little Pigs’. The Big Bad Wolf blows down the first two pigs' houses, made of straw and sticks respectively, but is unable to destroy the third pig's house, made of bricks. The moral of the story is that hard work, dedication, bricks and mortar for homes pay off; that whilst the first two pigs quickly built homes and had more free time to play, the third pig laboured in the construction of the house of bricks, with the hope that the structure will eventually lead to the most favourable outcomes. However, perhaps this story doesn’t hold true in today’s world?
With the announcement of the latest Contracts for Difference Allocation Round 3 results to offshore wind projects, we thought it timely to address the emerging trends surrounding this asset class.
The NHS is transforming how it delivers its services, but one key aspect to enabling this is the need for significant investment in its Estate. According to Sir Robert Naylor’s report last year, the NHS Estate ranges from world class to poorly utilised and not fit for purpose.1 Moreover, Sir Robert estimated that capital requirements could amount to around £10bn. This investment cannot be delivered through public sector funding alone. However, the Chancellor’s announcement in Budget 2018 that there will be no more Private Finance Initiative (PFI)/Private Finance 2 (PF2) Projects, this cuts off a historically well used option for enabling capital investment in the NHS.2 So what next? There are a myriad of potential solutions, and it will require a combination of traditional and innovative approaches to ensure Estates play their part in the transformation of the NHS.
The first lesson my fellow undergraduate coursemates and I were taught at university was that ‘planners do not plan towns’. A useful clarification, but what followed was arguably more noteworthy. It was explained that we had picked an exciting time to be involved in planning, even if we were not to be gifted a blank slate on which to design new settlements.
A refreshed and streamlined toolkit for practitioners working with heritage assets
On the 16 May 2017, the Deloitte Real Estate Planning team hosted the launch of the newly revised Heritage Works. Heritage Works is a document which we have researched and written on behalf of Historic England, the Royal Institution of Chartered Surveyors (RICS) and the British Property Federation (BPF).