Spotlight: European Office Value Analysis – Q3 2024
Tide is turning for European office investment as debt becomes accretive to returns
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Tide is turning for European office investment as debt becomes accretive to returns
Read nowMany companies try to encourage employees to return to the office by investing in the improvement of the space available to them
Read now"Legal occupiers are adapting to hybrid working patterns with more flexible, tech-enabled office designs that support modern ways of working. Whilst there is regional variation, the majority of firms today are dedicating more area to multi-purpose shared spaces, which can be used for team-wide meetings, collaborative tasks, or client-facing events. "
"International expansion of US firms has had a profound impact on legal salaries across the globe. US practices represent the top of the market in lawyer renumeration in all the legal markets we analysed. "
"Legal occupiers looking to attract and retain top talent, drive performance, and prioritise ESG requirements are demanding premium space that provides vibrant employee experiences and positive environmental impact. "
"US cities accounted for 69% of overall legal leasing activity in the world’s largest legal markets, reflecting the dominance of American firms in the sector overall, as well as the tendency for US legal offices to have a lower occupancy density."
"Amid a myriad of unique challenges across different global markets, mid-size and large international law firms are adjusting growth plans, office locational strategies and legal renumeration approaches. "
"Globally, the majority of the legal sector is maintaining the same or equivalent square footage when renewing their leases or relocating. Just under a quarter are increasing space, and approximately a third are consolidating to smaller footprints. "
"The main barrier to the uptake of electric vehicles in the shift to carbon zero is a lack of public charging infrastructure. Landlords can enhance asset value and Savills has the expertise to assist"
"In an era where real estate decisions are increasingly people-centric, the role of HR teams in selecting office spaces has become a hot topic"
"We have seen an easing in the cost of mortgage debt over the summer, following the first cut in Bank Base Rate. "
"Savills European Real Estate Logistics Census outlines the challenges and opportunities facing Europe’s logistics occupiers, developers and investors"