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MAY 2015
rics.org/modus
@ RICSnews
Countdown to the
UK general election / 16
DREAM TEAM
STEP CHANGE
#RICSmodus
A LIGHT
IN THE SHADOWS
How a global ethics movement is
building a brighter future / 36
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Contents
MODUS MAY 2015
RICS.ORG/MODUS
09
15
16
36
Foundations
06
Features
Intelligence
47
48
66
06 DIFFERENCE OF OPINION
Are open-plan offices bad for productivity?
We hear two points of view
46-47 CAREERS
How to stay motivated when job hunting;
Turner & Townsends Chris Carr MRICS
22 HOWDY, PARTNER
Forging cross-border relationships
48 BUSINESS
Managing your employees flexible
working requirements
49 LEGAL 101
Fit-outs that are fit for purpose
51 BRAIN GAIN
Take a corporate finance primer
36 COVER STORY
An international coalition is shedding
light on the world of ethics standards
66 MIND MAP
Aedas global chairman Keith Griffiths
ponders Chinas urban future
PLUS
52 Benefits
53 Events
54 Obituaries + Conduct
58 Recruitment
Views expressed in Modus are those of the named author and are not necessarily those of RICS or the publisher. The contents of this magazine are fully protected by copyright and may not be reproduced in any form without the prior
permission of the publisher. All information correct at time of going to press. All rights reserved. The publisher cannot accept liability for errors or omissions. RICS does not accept responsibility for loss, injury or damage or costs that result
from, or are connected in any way to, the use of products or services advertised. All editions of Modus are printed on paper sourced from sustainable, properly managed forests. This magazine can be recycled for use in newspapers and
packaging. Please dispose of it at your local collection point. The polywrap is made from biodegradable material and can be recycled.
M AY 2015_MODUS 03
04 RICS.ORG/MODUS
WATERPROOFING
SYSTEMS
PHOTOVOLTAIC
ENERGY
Feedback
Join
the
debate
REACTIONS AND RESPONSES
FROM PREVIOUS ISSUES
@RICSnews // #RICSmodus
@BettySMellor @RICSnews #ricsmodus
Great article on Out of Office Assistance.
Flexibility of home working: brilliant, face
to face meet ups: essential!
@DayleBayliss Great piece in this months
@RICSnews Modus magazine with @
businessisgreat #DoMoreOnline small
mention for us
@radiogreenlab Business mentor morning
CATS EYES
Sir, I always find the information about new
books of interest but will you please print the
book title alongside the notes. The thumbnail
picture of the book is so small that a magnifying
glass is often required to work out its title.
Simon Haste MRICS, head of property,
Cats Protection, Haywards Heath
GRAND CAYMAN
Sir, I very much enjoyed attending RICS Cayman
Islands Property & Construction Conference,
which took place on 5 March. It was great to
hear RICS President, Louise Brooke-Smith,
give the keynote speech.
The event coincided with the first day of the
official Caribbean-wide implementation of the
Valuer Registration programme. From this date,
all RICS members performing valuations in the
region are required to become Registered
Valuers. Following the introduction of the VR
programme in the Cayman Islands in July 2014,
valuers there have seen an upswing in reporting
standards, with increasingly high levels of
transparency, credibility and consistency
shown in valuation reports from the island.
It really was an eye-opening event that
offered great insights into local issues
surrounding George Town, Caymans capital,
and the plans for its redevelopment. The
afternoon sessions were of particular interest
to me as they both centred around issues that
directly impact the way our company does
business, regarding the development of a new
Cayman Islands construction contract and the
Builders Registration Bill, which is scheduled
to come online this summer.
There was plenty of controversy, which is
essential to get any far-reaching idea moving,
and RICS was the perfect forum to host these
important national debates.
Shane Roberts MRICS, Cayman Islands
FOR SUNDAY Editor Oliver Parsons / Art Director Christie Ferdinando / Contributing Editor Brendon Hooper / Production Editor Andy Plowman / Senior Designer Isabella Fernandes /
Creative Director Matt Beaven / Account Director Karen Jenner / Advertising Sales Director Charlotte Turner / Advertisement Manager Victoria Underwood / Senior Sales Executive Angus Sharpe /
Sales Executive Nick Webb / Production Manager Michael Wood / Managing Director Toby Smeeton / Repro F1 Colour / Printers Wyndeham Group / Cover Illustration Adam Simpson /
Published by Sunday, 207 Union Street, London SE1 0LN wearesunday.com / For RICS James Murphy and Kate Symons, RICS, Parliament Square, London SW1P 3AD
M AY 2015_MODUS 05
Intelligence
DIFFERENCE OF OPINION
277
2004-2014
26%
Intelligence
1994-2004 41%
21%
1994-2004 40%
TOP FOREIGN INVESTORS
IN US REAL ESTATE
10%
9%
7%
Canada
Others
1994-2004 38%
Norway
21%
1994-2004 41%
79
Italy
5%
5%
3%
3
1994-2004
40%
%
254%
DATA CENTRES
Japan
2004-2014
rics.org/modus
China
26%
NEWS
IN BRIEF
260%
2004-2014
12%
12%
10%
1994-2004 40
277
%
260
7 technology and services continues
9%
2004-2014
5 market, notes
5
to drive the
CBRE. 3%
Technology, media and telecoms
%
1994-2004 38%
(TMT) businesses accounted for
2004-2014
80% of transactions alone. This,
alongside improving
% corporate
confidence, is driving new interest
for data centre services from the
%
sector, as dedicated%
cloud providers
%
1994-2004 41%
% require
2004-2014
more capacity.
Andrew Jay MRICS, EMEA%head
Amsterdam reported the highest
DUTCH FASTER
28%
26%solutions 23
79%Equinixs demand for multi-tenanted data
of
data centre
at %CBRE,
%
64
Amsterdam
%
% with a record
%
1994-2004
40 in Europe
said: Last year ended
centres
last year46
%
49
2004-2014
data centres
153MW of availability across the
the first time any market has
can connect to
major European markets. This
outperformed London since 2004
80% of Europe
Italy within 50
Poland
Spain
Greece
France
UK
Germany
growth
according
to research from CBRE.
%
% can be attributed in part to
1994-2004 38
milliseconds
2004-2014
new facilities opening, most notably
Last year, 22MW of customer
in London and Frankfurt. London
IT power was sold in Amsterdam,
remains the most sustainable
a 97% increase on 2013, and onemarket in Europe,
while Frankfurt,
third
of
the
European
total
for
the
82%
INDIA
84%
as the eurozones financial
year (66MW).
powerhouse,
provides high levels of
A multi-tenanted
or colocation
CHINA
70%
82%
%
connectivity and is leading the
data centre,INDIA
provides companies
84way
US
60%
41%
in data protection across the EU.
with space
for servers
and other
28%
hardware,
UK while a service52%
43%
26%
79% computing
%
%
WHAT ARE THE ISSUES
affecting
the
provider manages
the building,
CHINA
70
64
%
%
CANADA 49%
49%
of the data centres market?
cooling,
power, bandwidth
and 47 46growth
82%
physical
48% Discuss on LinkedIn: rics.org/linkedin
40%security.JAPAN
%
3%
254
28
64
Poland
26%
277
49
46
Spain
Greece
260
France
254
US
%
41
Italy
Poland
54
GERMANY
UK
50%
FRANCE
42
Government
49
RUSSIA
THE DATA
43%
%
Spain
CANADA
SPAIN
26
%
82
82%
40%
42%
Source: 2015
Government
Edelman Trust
Barometer
54%
FRANCE
50%
26%
INDIA
UK
GERMANY
40
50
42
SPAIN
%
26%
60%
Greece
France
UK
82%
23%
Germany
Business
43%
43
RUSSIA
49%
Italy
45%
CHINA
UK
JAPAN
41%
54%
45
79
US
CANADA
JAPAN
RUSSIA
GERMANY
FRANCE
SPAIN
47%
48%
45%
84%
70%
60%
52%
47%
%
48%
45
%
45
%
45
Business
Business
45%
43%45
Business
43%
Government
Government
M AY 2015_MODUS 07
08 RICS.ORG/MODUS
Prime
arable
Poor
grassland
All types
NEWS
IN BRIEF
%
1994-2004
1994-2004 41
41%
2004-2014
2004-2014
%
1994-2004
1994-2004 40
40%
2004-2014
2004-2014
%
1994-2004
1994-2004 38
38%
2004-2014
2004-2014
277%
Intelligence
260%
254%
WE LIKE
rics.org/modus
%
79
79%
%
28
28%
%
64
64%
FORWARD
PLANNING
Proposed
Italy
Poland
Italy
Poland
developments
are also shown
on the model,
helping
professionals
%
decisions
%
82make
82
based on
%
that
%
82structures
82
do not yet exist
%
41%
41
49
49
46
46
Spain
Spain
Greece
Greece
%
%
Government
Government
%
23
23%
%
%
France
France
INDIA
INDIA
CHINA
CHINA
Germany
Germany
%
70
70%
US
UK
UK
UK
UK
%
84
84%
%
60
60%
VUCITYUS
%
43
43%
%
26
26%
%
52
52%
SECRET SURVEYOR
rics.org/modus
10 RICS.ORG/MODUS
HOTELS
Hotel investment in
Germany last year
jumped by a record
82% over 2013, reports
Colliers International,
with transaction
volumes totalling
3.1bn (2.2bn).
International buyers
were the most active
investors in the
market, generating
nearly two-thirds of
the total transactional
volume. Activity was
particularly strong
in the luxury hotels
market, which
recorded transaction
volumes of 965m
(685.3m, or 31%).
This is a year-onyear increase of 13
percentage points
within this sectors
share of the total
volume of hotels
transacted.
We expect these
results to be more
than just a one-time
occurrence, said
Andreas Trump MRICS,
head of research at
Colliers Germany.
Supply is scarce,
especially from largescale portfolios, which
will limit transaction
volumes and possibly
affect prices. However,
if sufficient real
estate products do
become available,
we can expect a
transaction volume
of more than 3bn
(2.1bn) this year.
IMAGE GETTY
NEWS
IN BRIEF
Intelligence
M AY 2015_MODUS 11
L E A R N
C O N N E C T
N E T W O R K
L O N D O N
2-4 JULY 2015
ORGANISED BY
INDUSTRY PARTNER
ONLINE PARTNER
PLATINUM SPONSORS
GOLD
SPONSORS
OTHER
EXHIBITORS
The Auto Enrolment Solution
ECA-Event half.indd 1
practices over the past 17 years and are still being enjoyed today.
12 RICS.ORG/MODUS
26/03/2015 16:48
Intelligence
WHICH COUNTRY HAS
THE MOST HOME BIRDS?
28%
79%
64
Poland
Poland
Italy
Italy
49
46%
Spain
Spain
Greece
Greece
26%
France
France
UK
UK
23%
Germany
Germany
FUTURE TRENDS
82%
INDIA
84%
CHINA
70
82
What are the complex challenges facing
urban development in the 21st century, as
%
%
US
60
41
the global population and urban migration
UK
52%
43%
continues to rise? That is the subject of a
new report published by the BRE Trust.
CANADA
47%
49%
The UKs largest charity dedicated to
research and education in the built
JAPAN
48%
40%
environment collaborated with more than
RUSSIA
45%
54%
70 organisations on the three-year future
cites research, which explored four critical
GERMANY
45%
50%
components: smart cities supported by
life-enhancing technology, liveable cities
FRANCE
45%
42%
Government
Business
that underpin good quality of life, healthy
%
%
SPAIN
43
26
cities that support wellbeing and equality,
and resilient cities that can withstand and
LOUISE BROOKE-SMITH FRICS RICS PRESIDENT
mitigate extreme weather, natural disasters,
Whenever I welcome guests to Parliament Square, I tell them that
STRAIGHT UP
social upheaval and security threats both
Ethics goes to
physical and cyber.
it is home to a profession founded on ethical as well as technical standards.
the heart of
Key research projects carried out under
Ethics can appear disarmingly simple to define and typically follow
maintaining
these themes included: developing an
members
something along these lines: A social, religious, or civil code of behaviour
urban circular economy; developing a
reputations.
considered correct, especially that of a particular group, profession, or
But are ethical
healthy cities index to understand and
individual. But what might seem straightforward for dictionary writers can
standards
improve the impact of the built environment
being eroded?
be a difficult concept in practice. Potter Stewart, a former associate justice
on health; city-wide energy optimisation;
Or is the desire
of the US Supreme Court, said simply that:Ethics is knowing the difference
the impact of air pollution; new approaches
to maintain
between what you have the right to do and what is right to do.That just about
them growing?
to refurbishing existing housing stock;
captures it for me.
future city modelling using open BIM
Deep within us is a sense that the right thing can somehow be defined.
standards; cyber security; and digital
interoperability the creation of standards
While this may be true, does our definition of ethics vary between societies?
and accreditation for fast-proliferating
Is it constant over time? And as business, technology, science and society
smart technologies.
make rapid advances, what are the implications for our ideas about ethics?
By 2050 there will be two and a half
I dont have the answers to these questions, but I do know that ethics have
billion more people living in cities, said
been at the forefront of the political and public discourse in recent years, for
Helen Pineo, associate director at BRE and
example the mis-selling of financial products, the apparent fixing of interauthor of the report. We must develop our
bank lending rates, abuse of public funds, and elements of the media behaving
urban spaces to meet their needs but the
irresponsibly and, at times, illegally. Are these a sign that ethical standards
challenges are significant: reduced public
are being eroded? Or is the widespread public disquiet proof that a sense of
sector finances, limited natural resources,
ethical standards, and a desire to maintain them, is actually growing?
climate change mitigation and adaptation,
For all professionals, ethics goes to the heart of maintaining their
and an ageing population. This research
aims to plug the knowledge gaps so we can
reputation. Clients and employers need to know they can trust professional
adopt an informed and strategic approach
advice. Trust underpins transparency and inspires confidence. We therefore
to growing and evolving our cities so they
need to define standards of ethical behaviour. These standards also have to
become even better places for people to
be understood and applied across geographical and societal boundaries. Just
live and work in our future depends on it.
as business, and every other area of human activity, become ever more
The outcomes of the research will help
interconnected, so too, our ideas about ethics, and their practical application.
develop tools, educational programmes,
It is why RICS is a founding member of the International Ethics Standards
standards and services for positive change
Coalition, and it is why we are working with the United Nations Global
in urban development.
Compact to develop a best-practice toolkit for responsible businesses to
respect human rights, observe labour laws and prevent corruption.
DOWNLOAD a copy of the report at
bre.co.uk/futurecities
Follow Louise on Twitter @LbsLouise
%
M AY 2015_MODUS 13
trimble inSphere
TM
DATAManager
Data
Trimble InSphere gives you the tools and insight to streamline your workflows
EQUIPMENT
equipMent
Manager
MANAGER
MANAGER
14 RICS.ORG/MODUS
DATA
Data Marketplace
MARKETPLACE
TERRAFLEX
terraflex
ACCESS
triMble
SERVICES acceSS
ServiceS
tM
Intelligence
NEWS
IN BRIEF
SUSTAINABILITY
rics.org/modus
IMAGE BELECTRIC UK
WOOLLY
MAMMOTH
A record
amount of
contracts were
awarded to
solar projects
last year,
among them
the UKs largest
solar farm at
Landmead in
Oxfordshire
PAGETURNER
LEADERSHIP AND SUSTAINABILITY
IN THE BUILT ENVIRONMENT
ALEX OPOKU AND VIAN AHMED
Good organisational
leadership from the
construction industry
is vital in our drive
towards a sustainable
built environment.
Opoku argues that the
real effect of legislation
and the guidelines
designed to promote
sustainability within
the construction
industry is closely
linked to the leadership
behind it.
The book identifies
the drivers, challenges,
leadership roles and
styles that influence
the promotion of
sustainability practices
on construction
projects worldwide. It
compares experiences
in different economies
and cultures, and could
serve as a guide to all
organisations that wish
to adopt sustainability
in construction.
ENJOYING A BOOK?
Tweet to let us know,
using #RICSmodus
M AY 2015_MODUS 15
UK election
16 RICS.ORG/MODUS
CHOOSE YOUR
COLOURS
With so little difference between the
main UK parties and voter apathy at
unprecedented levels, another hung
parliament looks likely. Would this
be good or bad news for the
built environment?
Words Mark Smulian Illustration Robert Frank Hunter
M AY 2015_MODUS 17
UK election
ll
ll
ll development depends on
appropriate infrastructure, and
Richard Threlfall, UK head of
infrastructure, building and construction
at KPMG, says the next governments
spending ability will be limited by
continuing austerity and commitments
to protect health and education spending.
Despite this, Threlfall is quite optimistic
that support for the capital budget will be
protected. However, as only about 30%
of infrastructure spending comes directly
from the government and the other 70%
is mainly through the regulated utilities,
he adds: What matters more than the size
of the governments capital investment
is whether it has policies that attract
investment to pay for the other 70%.
M AY 2015_MODUS 19
UK election
ll
ll
POLICY
Property Management
Software Driven by Sage
Catering for Landlords, Letting
Agents and Block Managers.
www.decorus-pms.com
0114 230 7305
M AY 2015_MODUS 21
HOWDY,
22 RICS.ORG/MODUS
Modus_May15_P22-27_Partnering_v6.indd 22
10/04/2015 15:40
PARTNER
Modus_May15_P22-27_Partnering_v6.indd 23
M AY 2015_MODUS 23
10/04/2015 15:40
A
Words Roxane McMeeken
FACE TIME
London-based Alinea
partner Steve Watts
MRICS (left) and his
opposite number in
New York, Dharams
Andrew Smith
(previous page)
24 RICS.ORG/MODUS
Xxxxxxxxx
Partnerships
ll
ll
M AY 2015_MODUS 25
Partnerships
ll
ll
TAKE SIX
Our internationally
recognised
postgraduate
degrees are available
via flexible online
Independent
Distance Learning
(IDL), ideal for
construction and real
estate professionals
wishing to further
their qualifications
while in full-time
employment.
Quantity Surveying
www.hw.ac.uk/egis-idl
sbe-enquiries@hw.ac.uk
+44 (0)131 451 4424
Study when
& where it best
suits you
I did not want to stop the
valuable learning on the
actual job while gaining the
necessary academic training.
Sebastian Flatau
MSc Architectural Project Management
M AY 2015_MODUS 27
BUILDING TRUST IN
28 RICS.ORG/MODUS
Technology
for a day and these costs are prohibitive for small businesses.
If investing in staff is one cost hurdle, investing in the
technology when it is only being developed by a few suppliers
is another.When one company has a near monopoly on the
market it can do what it wants to a certain extent, says
Baddeley.A way to get more small businesses involved is to
make products cheaper, but when the market is controlled
by one big player, products are not going to get cheaper.
Neil Thompson, principal BIM integrator at Balfour Beatty
and co-founder of the Construction Industry Councils BIM
2050 group, took part in the UCL research. Thompson has
also explored the issues of education and skills, process and
technology and culture of integration as lead author of the
BIM 2050 groups Built Environment 2050: A Report on Our
Digital Future. Our behavioural biases in construction
inhibit collaboration, says Thompson. We need to change
the stereotypical relationships between disciplines. Future
generations will not accept these conventions and
construction will remain a second-choice career route for
talented people.
He is positive about the work of Baddeley and the team at
UCL. Its exciting to see influential economists move their
focus into construction, he says. Clearly, if you look at
software, the price setter can control how quickly innovation
can come into the marketplace. Cognicity, a project set up
by the developer Canary Wharf Group, has recognised that
there is a problem with construction innovation and is
looking to develop new businesses, including software,
which will lower barriers to entry for SME businesses. Opensource models are another solution (box, below).
Baddeley hopes to secure funding from the governments
Innovate programme to continue her research, with the
ultimate aim of increasing BIM take-up across the supply
chain. The government is getting interested in all of this,
she says. We are at the early stages but, as an example, the
government is looking at digitising the supply chain to help
small businesses to get into public sector procurement.
The barriers are coming down.n
DOWNLOAD a copy of the report at: rics.org/collaborativebim
TAKE THREE
M AY 2015_MODUS 29
Investment
30 RICS.ORG/MODUS
THE
REAL
DEAL
Tax efficient,
yielding high
returns and capable
of reviving ailing
economies in
global markets postrecession, have real
estate investment
trusts (REITs)
finally come of age?
Words David Hatcher
GAINS IN SPAIN
Axiare is one of
a new wave of
REITs that have
reinvigorated
Spains real
estate market,
buying assets
such as the
Madrid office
complexes
at Francisca
Delgado
(main picture)
and Fernando
el Santo (left)
M AY 2015_MODUS 31
SCHOOL OF THE
BUILT ENVIRONMENT
An achievable, step-by-step route for busy professionals to achieve a doctorate in five years
Studied part-time with others from similar professional backgrounds
Reduces study time by drawing on existing expertise
Study at an internationally-respected research centre
Distance learning, supplemented by occasional Saturday workshops
www.salford.ac.uk/built-environment/prof-doc
or contact Dr Paul Chynoweth, the programme leader, at p.chynoweth@salford.ac.uk.
32 RICS.ORG/MODUS
Investment
ll
ll
GREEN SHOOTS
Nearly two years after its float,
Green REIT is moving from asset
purchases into development.
Work starts this year on Block H
at Central Park (above), 13-17
Dawson Street (below) and three
other sites in Dublin
M AY 2015_MODUS 33
Investment
ll
BRIEFING
How do
REITs work?
RISING
SUNING
Although not
a REIT in its
truest sense,
Sunings
seeding in
February of a
vehicle with 11
stores heralds
a new era
for Chinese
real estate
IMAGE CORBIS
LOOK WHOS
COMING TO
HOUSING 2015
Join over 8,000 housing professionals to discuss the
big issues that everyone will be talking about.
Speakers include:
Cathy Newman,
Political Correspondent,
Channel 4 News
Alex Lowe,
Industry Head,
Google
Dr Gerard Lyons,
Chief Economic
Adviser, Mayor
of London
Isabel Hardman,
Assistant Editor,
The Spectator
Alex Hilton,
Director,
Generation Rent
Duncan Weldon,
Economic
Correspondent,
Newsnight
M AY 2015_MODUS 35
Ethics
LIGHT
Real estate is a global industry, but how certain
can we be that the ethical behaviours of
professionals are consistent around the world?
Modus spoke to members of an international
coalition that hopes to provide the answer
Interviews Brendon Hooper Illustrations Adam Simpson
Whos in the
discussion?
KARIN BARTHELMES-WEHR,
corporate secretary,
Initiative Corporate
Governance of the German
Real Estate Industry, Berlin
PETER BOLTON KING FRICS,
Global Property Standards
Director at RICS, London and
chair, IESC board of trustees
TONY GRANT FRICS, honorary
president, International Real
Estate Federation (FIABCI), US
GEORGES PAHUD, vice-chair,
International Consortium of
Real Estate Associations
(ICREA), Vancouver
ALEXEY SHASKOLSKY MRICS,
chairman, Russian Society
of Appraisers, St Petersburg
branch
KATHY TSAO, 2014 executive
board, Asian Real Estate
Association of America
(AREAA)
36 RICS.ORG/MODUS
Ethics
M AY 2015_MODUS 37
Ethics
Ethics
ll
ll
M AY 2015_MODUS 39
Ethics
ll
ll
Drain Ownership
Misconnections
Drain Condition Classification
Condition Grading
Drain Design & Components
NADC approved
www.nadc.org.uk
The
professionals
in concrete
repair
All CRA members:
4 Are accredited to
BS EN ISO 90001
and BS EN ISO 14001
Get it right.
Get a professional.
Insist on CRA
www.cra.org.uk
minimum monthly
spends
with secure data
transfer
alternative to temps.
No more recruitment
or employment issues
Call us on
www.outsec.co.uk
M AY 2015_MODUS 41
OFF THEIR
TROLLEY
Checking out
In January Tesco announced
it was closing 43 branches
and abandoning 49 planned
stores, including Chatteris
in Cambridgeshire, which
has now been mothballed (1)
Price war
All big four supermarkets
are cutting prices to head off
the challenge of discounters
and restore growth to levels
that will enable them to adapt
their stores for the future (2)
42 RICS.ORG/MODUS
For much of the past decade, Britains supermarkets have been engaged in a
frantic space race as they sought to grab market share by building more and bigger stores.
Two years ago the leader of the pack, Tesco, issued its first profits warning and declared
that the race was over. Since then the severity of the crisis in the food retailing sector
has become apparent. Tescos fall from grace has been the most spectacular, but the
other members of the big four Sainsburys, Asda and Morrisons have also scaled
back their growth in the face of weak sales.
Last winter, the investment bank Goldman Sachs published a report in which it
suggested UK supermarkets needed to shed 20% of their existing space to return to
health. In January, Tesco revealed that it was to close 43 branches and abandon 49 planned
new stores. Morrisons followed that in March by reporting a 792m loss after taking a
1.27bn property writedown, caused by the declining value of its supermarket assets.
How far will the trend go? CBREs December UK grocery pipeline report shows a 20%
reduction in the amount of grocery space under construction since the end of 2013
hardly a precipitous decline. There is always a time lag because supermarkets are
long-term projects, explains Chris Keen MRICS, a director in CBREs supermarkets
team. In 2013-14, 3.2m ft2 [297,300 m2] of supermarkets opened. We estimate by the
end of this financial year it will be 2.9m ft2 [269,400 m2], then next year it will fall
to 1.5m ft2 [139,350 m2].
While the supermarkets continue to open smaller convenience stores in town centres,
big, out-of-town stores have fallen out of favour. Independent retail consultant Richard
Hyman says the recession has led to consumers shopping more often and buying less
each time. That prompted the big four to expand their online and convenience operations,
79%
Italy
28
49
Poland
Spain
79 46
%
79%
64%
Greece
%
France
64
CHINA
41%
US
8282
UK
82%
% %
CANADA
49
JAPAN
40%
RUSSIA
54%
GERMANY
50%
Government
82%
FRANCE
42%
26%
SPAIN
Government
Government
46
46%
Spain
Greece
84%
70%
Greece
64%
INDIA
France
49
UK
46
Government
TOTAL
Germany
26%
23%
following
month the45retailer announced that it would build
GERMANY
4,000 new homes on some of its undeveloped sites.
FRANCE
45
42
Business
Keen and Edson agree that the
supermarkets are likely to
SPAIN
43
26
sell many sites for residential-led development or build
them out in joint ventures with developers. The potential
stumbling block is that the value of the land is likely to be
lower than it would be for food store use. We know the
supermarkets have written off a lot of the land value already
%
4m ft2
28%
GOING TO TOWN
After a post-recession expansion
boom between 2010 and 2012,
supermarkets have cut back on
out-of-town development and
are now growing in town centres
Source: Kantar Worldpanel
Briefing
Germany
STOCK
they may
haveGreece
20%
too much
spaceUKon an older
model, we
% %
Italy
Poland
Spain
France
Germany
CHINA
7084
INDIA
60%
CHANGE
have seen Sainsburys put Argos concessions into their
%
US
60%70%
of CHINA
41rise
52% The
stores while Tesco
has bought [restaurant chain] Giraffe.
discounters
% %
%%
%
UK
52
43
US
60
41
47
However, he too believes that development will slow
such
as Aldi
% % Lidl, and CANADAmarkedly:%
stores of 100,000 ft2
and
47
UK
52%They will still do large
48% 4943
82%
INDIA
84%
2
changing
[9,300
m
]
but
in
very
particular
locations
that are under% %
JAPAN
48
40%% to CANADA
47CHINA
45% 49% trends
70%
82
served in
terms of food stores.
There will be large stores
shopping JAPAN
RUSSIA
45%%
48
%
45%54% 40%
US at nowhere near
60% the level we have seen.
41opening
but
online and in
%
%
% 50%
%
GERMANY
RUSSIA
4545UKwill be the fate
4554
convenience
52% of the supermarkets land banks?
43% So what
Business
stores, have
The big
are all believed
to have acquired substantial
%
% four
FRANCE
45
GERMANY
45
%
43% 50% 42%
CANADA
47%
Business
contributed 49 tracts for
future
development,
although only they know for
%%
SPAIN40%
43
45
to%a drop26
in%FRANCE
42
JAPAN
48%
Business
certain
how
much.
In
June
2014,
the Guardian newspaper
out-of-town
SPAIN
43%RUSSIA
26% 54
%
45%
accused
Tesco of hoarding
4.6m m2 (50m ft2) of land. The
developments
50%
BY NUMBERS
23%
23%
UK
France
%
26%
26%
Germany
49%
Spain
Poland
28%
UK
79%
82%
43%
49
Poland
Italy
INDIA
23%2004-2014 %
28
Italy
82%
254%
26%
1994-2004 38%
64%
OUT OF TOWN
TOWN CENTRE
3
2
1
0
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
M AY 2015_MODUS 43
BARANGAROO
BOUNCES BACK
The redevelopment of Sydneys old
container port into 22 hectares of prime
waterfront is one of the worlds most
ambitious urban renewal projects.
Stuart Watson reports
44 RICS.ORG/MODUS
FLAT OUT
Two low-rise buildings make up the retail and
residential element of the scheme. The first
159 of 1,000 planned flats sold out in less
than four hours after going on sale in 2013
Case file
MONEY WALKS
PwC, KPMG and HSBC have already signed
up for sizeable prelets at Barangaroo South,
and the A$6bn scheme is expected to shift
the centre of Sydneys financial district
PRIME MOVER
Rogers Stirk Harbour + Partners has
designed the office element of the scheme
which, when fully completed in 2016, will
add 11% to Sydneys prime office stock
M AY 2015_MODUS 45
Foundations
CAREERS Scouring adverts, updating CVs, coping with rejection
looking for a new job can be a real grind. Heres how to stay motivated
POSITIVE STEPS
01 Remember there
are many reasons
why you did not get
the job - its not
always your fault.
02 Do something
positive to boost
your prospects each
day, such as emailing
a new contact or
meeting someone
who can help
you find work.
03 Dont just focus
on one vacancy
always have an
alternative to fall back on.
04 Boost your confidence
by doing something you
are good at every day.
05 Dont suffer in silence help
from a recruitment consultant
or supportive friend can
reduce demotivation.
46 RICS.ORG/MODUS
JOBSEEKERS ASSURANCE
Foundations
HOW TO
PREPARE
A FARM
FOR SALE
Who owns what? Are all
the clients details correct?
If the farm is owned by a
company, is the company
or only the property assets
for sale? Secure vacant
possession where possible
on any let property.
Prepare the documentation
Choose a solicitor who has
experience with farm
conveyances and provide
them with copies of all the
relevant documents before
the marketing commences.
Draw up a list of fixtures
and fittings included in the
sale. Make sure records of
past years farming
activities are available.
Private or public
marketing? Private keeps a
sale out of the public realm,
but may leave the seller
wondering whether the best
possible price was achieved.
Public marketing is the most
effective way of reaching
prospective buyers.
Stand out from the
competition Advise your
client to continue farming
as if they were staying.
A sale can be won or lost
by first impressions.
Be upfront Do not surprise
a buyer once negotiations
are underway with issues
such as rights of way let
them know from the outset.
Charles Dudgeon FRICS is
director of Savills estate
and farm agency team in
Edinburgh. savills.com
MY WAY
M AY 2015_MODUS 47
ROCK AROUND
THE CLOCK
TRIAL PERIOD
To repeat a cliche, this inevitably means,
says Briggs, that each case does have to be
taken on its own merit.Staff have recourse
to challenge a refusal to tribunal level if
they wish so having a fair process could
mean employers agreeing to a trial period
first. This will give the employee a chance
to prove that this change doesnt have any
impact on customer service, productivity
or any other important measure.
For the employer, if there are clear
differences in outputs, its much easier
to refuse a request, and to be seen to have
done so with evidence, rather than
dismissing it out of hand.
Foundations
LEGAL 101...
INGRID SAFFIN
Head of
commercial
property,
Mundays
Is planning consent
required? Check if planning
or building regulations
consent is required. Speak
to the planning and building
regulations officers and
check how quickly they will
provide consent. Despite
standard deadlines, the
length of time varies from
authority to authority.
Stay in touch with them
during the fit-out so that
inspections take place
when they should. When the
work has been completed,
a final inspection will be
required before a building
regulations completion
certificate is issued.
Produce these consents to
the landlord for approval.
M AY 2015_MODUS 49
Income Protection
Insurance Specialists
How would you cope without income? Who pays all the bills while you are ill?
With dg mutual you will get regular payments to replace your income.
We are Income Protection specialists established in 1927 and owned by our members
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority
50 RICS.ORG/MODUS
Foundations
RICS books
structure of a company.
Finance can also be raised
by securitising existing
assets into a new financial
product or by disposing of
non-core businesses.
BRAIN GAIN
CORPORATE
CODE CRACKER
SKILLS
JARGON
BUSTER
Understand
the jargon of
corporate
finance on
this one-day
training course:
rics.org/
corporate
finance
rics.org/shop
APP LAUDED
SiteWorks Lite
It is: A smartphone- or tabletbased app that helps you to
supervise and manage issues
on construction sites.
It does: The app replaces the need
for bundles of manual listings and
drawings, helping construction
workers change their workflows
M AY 2015_MODUS 51
Advertorial
BENEFITS
To view the latest offers, new partners and
promotions, visit rics.org/benefitsplus
ON THE BUTTON
52 RICS.ORG/MODUS
Foundations
EVENTS
UNITED KINGDOM
3 June, London
IMAGE CORBIS
Attracting more than 200 professionals and boasting a stellar line-up of speakers,
including broadcaster and journalist Andrew Neil (above), BBC economic editor
Robert Peston and Berkeley Group chairman Tony Pidgely, the summit provides
an excellent opportunity for senior decision-makers to meet and discuss key
issues facing the industry. The programme is formed of three key panel sessions,
allowing for some in-depth debate on the UKs political, economic and social
dynamics. The theme for 2015 has a specific focus on the continued resurgence
of the UK economy and the key role which the property market has to play.
CPD: 4.5 hours / 195 / rics.org/plsummit
M AY 2015_MODUS 53
Notices
OBITUARIES
Please email obituary notifications to
contactrics@rics.org or call +44 (0)870 333 1600
EASTERN
LONDON
Brian Richard
Anderson FRICS
1942-2015
Paul Barker MRICS
1961-2015, Tring
Norman Reginald
Bowles FRICS
1921-2013
West Drayton
Elena Charalambous
MRICS, 1974-2015
London
Desmond Marcus
Hampton FRICS
1940-2014, London
Louis Antill Lewis
FRICS, 1932-2014
London
Michael John May
1942-2014, London
Andrew Ian Rosenfeld
MRICS, 1962-2015
London
NORTH EAST
NORTH WEST
SOUTH EAST
SOUTH WEST
Christopher Paul
Curtis, 1955-2015
Newton Abbot
Alexander Frame
1957-2015
Cirencester
Ronald Charles Gale
MRICS, 1921-2015
Bournemouth
Francis Houlsby
Hughes FRICS
1919-2015
Warminster
Philip Lawler Rushton
FRICS, 1923-2015
Frome
Royston Ernest
William Sandoe FRICS
1925-Unknown, Frome
Peter Albert Richard
Turner FRICS
1930-2015, Bude
David Simpson Young
MRICS, 1931-2014
Bristol
WEST MIDLANDS
YORKSHIRE &
HUMBER
SCOTLAND
Raymond Mann
Hughes
1926-2015, Shipley
John Kitchen MRICS
1948-2015, Keighley
Lance Joseph Spires
FRICS, 1929-2014
Doncaster
Simon Alistair
Andrews MRICS
1968-2015, Ashford
Kenneth Frederick
Apps FRICS, 1911-2014
Dalbeattie
John Duncan
Matheson AssocRICS
1924-2015, Inverness
Notices
Dr Roy Charles
Whitehead FRICS
1925-2015, Bressay
WALES
Geoffrey Thomas
Lewis MRICS
1942-2015, Bridgend
ASEAN
Mohktar Mohamed
MRICS, 1954-2014
Selangor Darul Ehsan
CONDUCT
rics.org/conductcases
Notices
M AY 2015_MODUS 55
RICS Recruit
Matching the right talent
to the right projects
RICS Recruit is the UKs No. 1 built environment
job recruitment board. It gives you unparalleled
access to the surveying and property sectors
with almost 1,100 active vacancies in the UK
and around the world.
Graduate and Executive hub packed full of
knowledge and guidance to support your
career development.
Get access to leading companies who are
looking for RICS members like you who have
the right skills and knowledge.
Access RICS Recruit via your smartphone
or tablet to search and apply for jobs.
ricsrecruit.com
@ricsrecruit
RICS Recruit
ricsrecruit.com
ing
ild
Com
me
rci
al
Pr
o
pe
ction
stru
Con
Susta
inab
ility
rty
Bu
Valuation
g
yin
rve
Su
isurv
l
Rura
Professi
o
n
a
l
Con
du
ct
Work smarter
not harder
isurv
R
e
sid
en
tia
l
g
nin
an
Pl
Legal
Find a Surveyor
For more information about Find a Surveyor visit ricsfirms.com or call +44 (0)20 7880 6221.
M AY 2015_MODUS 57
Recruitment
SENIOR PROJECT MANAGER, SCOTLAND
(AND LEAD PROJECT MANAGER FOR AECC)
CENTRAL BELT OR ABERDEEN (FLEXIBLE), Competitive Remuneration Package
Established 125 years ago, Henry Boot PLC is a Sheffieldbased group listed on the LSE and is one of the UKs leading
property investment, development and construction companies.
Henry Boot Developments Limited specialises in both the public
and private sectors and operates across the UK via offices in
Glasgow, London, Manchester, Bristol and Sheffield.
This track record with the public sector has been central to
Henry Boot Developments Limiteds successful bid to deliver
the new AECC at Bucksburn and to redevelop the existing
AECC site at Bridge of Don. This 300m project will deliver the
AECC and develop the surrounding site, including three hotels,
office and retail space and a 50m energy centre.
Candidates will have project management experience from a
CHARTERED SURVEYOR
Bruce Mather is a diverse practice developed over many years to
provide professional advice in sales, valuations, agency and planning
matters in all areas of work to its impressive client base.
An excellent opportunity has arisen for a qualified Surveyor and Valuer
to join us based within our remarkable team at Boston Lincolnshire.
The successful candidate will:
Be a member of the RICS
Have the drive to work on their own initiative as well as part
of a dynamic team
Enjoy being rewarded for outstanding performance
Thrive when working with and growing a notable client base.
Possess a full driving licence.
Salary package 25,000 - 35,000 commensurate with experience
Please send your CV and covering letter to James Mather:
james@brucemather.co.uk or call 01205 365032
58 RICS.ORG/MODUS
www.mlarecruit.com
Recruitment
MB19161_S&V_Modus_looking_for_a_new_home_update_aw.indd 1
19/03/2015 15:34
M AY 2015_MODUS 59
HEAD OF ESTATES
ALDERSHOT OR MAIDSTONE
The South East Reserve Forces and Cadets Association will have a
vacancy in June for a Head of Estates based either at its Head Office
in Aldershot, or sub-office in Maidstone, with overall responsibility
for a variety of Reserve and Cadet properties in the South East.
Your career
Designed your way
@npsgroupuk | nps.co.uk
60 RICS.ORG/MODUS
Recruitment
Liverpool
40,000-45,000 Plus Benets
Birmingham
45,000-50,000 Plus Benets
Central London
60,000-70,000 Plus Benets
Surrey
45,000-50,000 Plus Benets
Central London
60,000-70,000 Plus Benets
Central London
50,000-60,000 Plus Benets
M AY 2015_MODUS 61
62 RICS.ORG/MODUS
62
We welcome enquiries
(in confidence, without
obligation and however
speculative) from:
Residential surveyors already
working in the sector
Residential surveyors who left the
sector post 2008, but would like
to return with refresher training
Semi-retired surveyors (with
residential experience) keen to keep
active on a part-time/flexible basis
Freelance surveyors keen to
secure additional fee-sharing
instructions
MRICS-qualified surveyors
with relevant although perhaps
not direct inspection or
valuation experience.
Recruitment
Franchise / Directorship
Opportunities Our client is a growing,
national brand of surveyors which
operates independently at local level
through an extensive network of
franchise type offices and full time
employed surveyors UK wide. Our
client does NOT service lender/panel
work rather high value private instructions
which include Building Surveys,
Homebuyer Reports, Residential /
Commercial Valuations and wider
professional services such as party wall
awards. They currently seek new start up
directors in the Midlands (Warwickshire/
Coventry / Leicestershire), West Sussex
and Norfolk / Suffolk. As well as the
freedom of running their own business
successful applicants will enjoy excellent
earning potential and full support (and
work flow) from central office.
We are regularly instructed for both
full-time and zero-hours surveyors
in the following postcodes: All
London postcodes (N, NW, W, SW, SE
& E), Essex (SS, CM, RM, CO, IG & E),
Hertfordshire (AL, SG, WD, EN),
Bedfordshire/Luton (LU, MK), M4
Corridor generally (SL, RG, OX, SN),
East & West Sussex (BN, TN, RH),
Dorset, (DT, BH), Hampshire (SO, PO),
Surrey (CR, TW, KT, SM, GU), Kent (ME,
TN, CT, BR, DA), Gloucestershire (GL),
Bristol (BS), Cardiff/South Newport
(CF, NP), Chichester, Basingstoke
Aberdeen, Northants, Uxbridge,
Greg Coyle
Head of Property
Recruitment
020 8514 9116
GregC@bbltechnical.co.uk
www.bblproperty.co.uk
M AY 2015_MODUS 63
Essential requirements
Membership of RICS/registered valuer status
At least two years post-qualification experience
in residential valuation
Good knowledge of residential property defects
Good understanding/experience of the
residential sales/mortgage/secured lending
process
Excellent communication skills written
and spoken
Attention to detail and the ability to multitask
Good IT skills Microsoft Word/Excel
A sense of humour
Stratum Search & Selection is a specialist recruitment company exclusively for the construction industry.
We offer recruitment within Quantity Surveying / Cost Management, Claims & Dispute Resolution,
Commercial and Contract Management, Project Management, and Estimation.
QUANTITY SURVEYOR - APC OR RECENTLY CHARTERED RETAIL
Central London | 35,000 - 47,000 + benefits
This company is a Central London based construction firm that are currently
experiencing a period of growth in their busy Central London office and are
now looking for a Quantity Surveyor / Intermediate Quantity Surveyor to
work on a range of high paced fit-out and rollout retail projects.
QUANTITY SURVEYOR LEADING CONSTRUCTION CONSULTANCY
Greater Manchester | Salary: 40,000 50,000 + car allowance + benefits
Well respected National & International construction consultancy who
work in commercial and private residential sectors are looking for a
Chartered Quantity Surveyor with 1 - 8 years PQE working in a consultancy
environment. One of the most well respected consultancy with excellent
career progression.
QUANTITY SURVEYOR - APC OR RICS LEVEL QS EDUCATION BUILD PROJECTS
Central London | 35,000 - 45,000 plus benefits
APC or recently Chartered Quantity Surveyor to join construction
consultancy and work on range of projects within education, residential, and
commercial. Friendly open working environment who also have a successful
business plan which has led to this vacancy. Excellent management, staff
incentives, and career prospects and training.
m contactus@stratumsearch.com
w www.stratumsearch.com
Recruitment
Leverhulme Estates
PROPERTY MANAGER
Wirral
M AY 2015_MODUS 65
Mind map
WHAT IS CHINAS
URBAN FUTURE?
20 million
people are
urbanising each
year many towns
are becoming cities,
and new cities are
rapidly being
built.
China already
has the three largest
megapolises in the
world Guangzhou,
Shanghai and Beijing
and is developing models
of urbanity that far
exceed any current
urban densities.
Urban
densification will
be best achieved by
coordinating transport
nodes and creating innovative
mixed-use buildings that
promote activities and life
at all levels of the
buildings.
Although
urbanisation in
China has succeeded
in lifting half a billion
people from poverty, it
has brought with it huge
issues of pollution,
social inequality and
urban sprawl.
66 RICS.ORG/MODUS
Kemperol
Ideal for roof refurbishment, repair and new build roofing projects.
Kemperol is a cold liquid application removing the fire risk of hot works.
With BBA Approval and a life expectancy in excess of 25 years your roofing
budget will never be better spent.