Why Office Investors Must Act With Conviction In The Current Market
Exploring research by Cromwell Property Group -
Tom Duncan, Head of Research and Investment Strategy for Cromwell Property Group joins Bold Founder Caleb Parker for the seventh episode of Season 6 to discuss Tom’s recent publication in Insight Magazine, titled ‘Office 2025: The Next Evolutionary Cycle’.
The two discuss how office demand is changing, thus creating a gap between supply & demand, and an abundance of misaligned stock, and what this means for commercial real estate investors.
Tom shares how this moment in the market can seem scary, but that office evolution is nothing new, and we’re now entering the age of Space-as-a-Service.
Caleb gives a shout out to Samantha McClary for her article on Bold in EG.
Connect with Tom Duncan on LinkedIn
https://www.linkedin.com/in/tom-duncan-ab9a6724/
Connect with Caleb Parker on LinkedIn
https://www.linkedin.com/in/calebparker/
If you have any questions or feedback on this episode, email podcast@workbold.co
Value Bombs:
Resources:
Shout Outs:
About Our Guests:
Tom Duncan
https://www.linkedin.com/in/tom-duncan-ab9a6724/
https://twitter.com/tduncan_insight
Tom Duncan is the Head of Research and Investment Strategy for Cromwell Property Group.
In his role, Tom is responsible for setting the research strategy for Cromwell’s international platform. His team analyses market economic and thematic change to provide research and advice to the business, its clients and investors on investment opportunities. His advice supports the investment decision making process informs new fund launches and the allocation of capital expenditure with an existing mandate.
Tom joined Cromwell in 2021, not long ago from Swiss Life Asset Managers, Europe's largest institutional owner of real estate, where he spent four years and was laterally director of strategy and innovation with research responsibility. Prior to that he spent two years at JLL in the UK as an Associate Director in the Corporate Research Team.
Previously, he spent five years working in Australia at Hill PDA, an Economic Consultancy, and Colliers international as head of New South Wales and ACT research. Tom holds Master's degrees in property development from the UTS Sydney and Town and Country Planning from the University of Sheffield.
About Our Host:
Caleb Parker
https://www.linkedin.com/in/calebparker/
Caleb Parker is an American entrepreneur in London, and Founder of Bold (acquired by Newable/NewFlex in 2019).
He believes in "challenging the status quo" and is a champion for entrepreneurial and innovative thinking.
Caleb has served as founder, Board member, advisor, investor and consultant to numerous startups and small businesses, and has a keen focus on innovation and technology, with interests in the MICE market, Space-as-a-Service, and the future of work.
Caleb has been a guest lecturer, speaker, and moderator for topics such as entrepreneurship, the sharing economy, the future of work and commercial real estate at academic institutions and large corporations. He regularly takes the stage at numerous trade conferences as keynote speaker, MC, host or facilitator.
Earlier in his career, Caleb was named one of Savannah, Georgia's “40 under 40” business leaders" in 2006 after launching two successful small businesses in the city's booming hospitality industry. A year later he moved to Washington, DC to join the The Regus Group DC management team. In 2009, Caleb co-founded a flexible workspace consulting firm where he brokered flexible workspace and advised businesses on agile working strategies.
Caleb is one of the first licensed commercial real estate agents to speak on the flexible working trends and the rise of flexible workspace, and has been quoted in numerous publications.
Timestamps
[05:00] Tom gives a brief overview of Cromwell and the portfolio.
[06:00] What is the background on the research that led to the outcomes in the article ‘Office 2025: The Next Evolutionary Cycle’?
[11:00] Can you provide some context on the gap between supply and demand and where does Space-as-a-Service fit in?
[16:20] Your article quotes “[investors in real estate should] act with conviction to dispose of misalign stock and acquire product, which is, or can be aligned to future occupier demand”. Do Real Estate Investors not usually act with conviction?
[18:40] What’s your view on building from the ground up versus buying and repurpose?
[23:30] How does Cromwell look at rolling out Space-as-a-Service across the portfolio?
[24:50] Quickfire round questions.
Sponsors
Headline Sponsor: TSK
TSK creates inspiring workplaces for some of the world’s biggest brands across the UK and Ireland, They’ve been working for 25 years to deliver the best employee experiences and the vision of their clients. Not only do they create great places to work, TSK share workplace content every week from the latest data to inspiring spaces they’ve designed and built. You can read their latest insights at www.tskgroup.co.uk or check out their LinkedIn and Instagram pages to become a follower, fan and friend.
Fortune Favours the Bold
Bold merges property management & Space-as-a-Service to drive asset value and help office customers grow faster. Now part of NewFlex (www.workbold.co)
Future Proof Your Portfolio with NewFlex
NewFlex delivers and manages a range of branded solutions for every type of building, in every type of location, for every type of occupier. Including the flexibility to develop your own brand. All enabled by flexible management contracts where we are invested in making money for you. (www.newflex.com)
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