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            <strong>Investment valuation</strong>&nbsp;            </div>
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            <strong>North East England</strong>&nbsp;            </div>
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<p>&nbsp;</p>
<h2><strong>Ambition</strong></h2>
<p>Horzion required valuation advice in relation to their proposed acquisition of the property, a registered care home providing accommodation for adult residents with autism and or/complex learning disabilities. </p>
<h2><strong>Approach</strong></h2>
<p>Once instructed by the client, JLL arranged to inspect the property (located between Durham and Newcastle.) We attended with one of their representatives, the client&rsquo;s funder and a building surveyor.&nbsp; Our strategy was to provide a report valuing the property, on the basis of Market Value and also on the Market Value on the Special Assumption of Vacant Possession considering that the property, should it become vacant, would be used as a care or supported living facility in the future. We also collaborated with colleagues in the JLL Healthcare valuation team in order to provide fully comprehensive advice to the client.</p>
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<p style="text-align: center;">&ldquo;Horizon run two FCA regulated specialist UK residential and care home institutional investment funds as well as a lending vehicle. Horizon launched, managed and fully invested and levered two funds, backed by UK institutional investors with &pound;125m AUM and were supported in these acquisitions by JLL"</p>
<p style="text-align: center;">Paul Casey, <a href=" http://www.horizon-infra.com">Horizon Infrastructure LLP</a></p>
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<p><strong>&nbsp;</strong></p>
<h2><strong>Challenges</strong></h2>
<p>Due to the vulnerable nature of the tenants, inspections were at the discretion of the manager. We managed to gain sufficient access to satisfy our requirement for the valuation, although we were unable to measure the property.</p>
<h2><strong>Added Value</strong></h2>
<p>We recommended to the client that they should consider a building survey prior to their purchase. The client decided to instruct JLL RBC which gave us as valuers additional detail and provided our client with greater information prior to their purchase.</p>
<h2><strong>Achieved:</strong></h2>
<p>Our valuation supported the purchase at the agreed asking price which pleased all parties involved. The building continues to be occupied, providing supported living accommodation for those who need it.</p>

Investment valuation of a North East supported living facility

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On behalf our client we offered valuation advice in relation to their proposed acquisition of a registered care home in the North East of England 

Investment valuation of a North East supported living facility 

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On behalf our client we offered valuation advice in relation to their proposed acquisition of a registered care home in the North East of England

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            <p><img src="https://weasresicmspd.azurewebsites.net/images/default-source/articles/icons/location-icon-(3).png?sfvrsn=b3511b0_2" width="45" height="45" alt="Location icon" />
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            <p><strong><img src="https://weasresicmspd.azurewebsites.net/images/default-source/articles/icons/jll_icon_red_046-(1).png?sfvrsn=11bf761d_2" width="45" height="45" alt="Pound icon" /></strong></p>
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            <strong>student housing valuation</strong>            </div>
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            <div style="text-align:center;">
            <p><strong>UK-wide&nbsp;</strong></p>
            </div>
            </td>
            <td style="width: 25%;">
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            <p><strong>PBSA portfolio of 5 operational assets</strong></p>
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            <p><strong>&gt; &pound;175m</strong></p>
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<h2><strong>Ambition</strong></h2>
<p>HSBC required JLL to carry out an updated valuation for loan review purposes of a Downing student housing portfolio, located across London and UK regions. Our client wished to understand the impact of the Covid-19 pandemic on the value of assets held as security, effective as of 31 March 2020.</p>
<h2><strong>Approach</strong></h2>
<p>Our Student Housing Valuation Advisory team assessed the impact of Covid-19 and government lockdown policies on occupancy, income and expenditure for each asset, for the remainder of the 2019/20 academic year, in addition to the potential impact on asset performance for the 2020/21 academic year, in the event this academic year was delayed. </p>
<p>The refund policy of Downing Students was considered, along with an increased focus on letting performance for the 2020/21 academic year, plus analysis of student demographics and catchment. This was then benchmarked against a wide range of other PBSA assets that the team were actively involved with, including the associated Covid-19 impact, and advice was sought from our Higher Education teams and Capital Markets teams, particularly with regard to the latest market sentiment, impact on yields, capital values, and higher education institutions.</p>
<h2><strong>Added value</strong></h2>
<p>The team drew upon JLL&rsquo;s global reach, including the experience of JLL&rsquo;s offices in China, Hong Kong and Singapore, who were at a more advanced stage in the pandemic, to better understand and forecast the likely impact and timing of Covid-19 on assets in the UK.</p>
<h2><strong>Challenges</strong></h2>
<p>The team was instructed by HSBC to provide valuations of the Downing portfolio during an unprecedented period of uncertainty, caused by the Covid-19 pandemic and the resultant lockdown. Quantifying the likely effects of the pandemic on the PBSA market presented complex challenges, unlike anything seen in the Higher Education and PBSA sectors before.</p>
<h2><strong>Achieved</strong></h2>
<p>A fully insightful valuation of the portfolio was provided, demonstrating the collaborative nature and depth of knowledge of JLL&rsquo;s Student Housing and Higher Education teams. New modelling strategies and multiple scenarios were demonstrated, to highlight the potential impact of a range of Covid-19 risk factors on PBSA asset performance.</p>
<p><a href="https://residential.jll.co.uk/services/valuation-advisory" style="font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;white-space:inherit;word-spacing:normal;caret-color:auto;"></a><button class="Button primary"><a href="https://residential.jll.co.uk/services/valuation-advisory" style="font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;white-space:inherit;word-spacing:normal;caret-color:auto;"></a><a href="https://residential.jll.co.uk/services/valuation-advisory">Our valuation advisory services</a></button></p>

Assessing the impact of Covid-19 when valuing a UK-wide PBSA portfolio for HSBC

HSBC required JLL to carry out an updated valuation for loan review purposes of their UK-wide student housing portfolio, wishing to understand the impact of the Covid-19 pandemic on the value of assets held as security.

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            <p><img width="45" height="45" src="https://weasresicmspd.azurewebsites.net/images/default-source/articles/icons/size-icon-(5).png?sfvrsn=631ae7ad_2" alt="Size icon" /></p>
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            <p><strong>appraisal for viability assessment (planning) purposes</strong></p>
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            <p><strong>Tower Hamlets</strong></p>
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            <p><strong>1,672 purpose built student accommodation ("PBSA") units, as part of a wider mixed use development</strong></p>
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<h2><strong>Ambition</strong></h2>
<p>Urbanest and their planning consultants required our assistance with a viability assessment, as part of their ongoing planning application for the mixed-use redevelopment of 2 Trafalgar Way, in the London Borough of Tower Hamlets. The aim of the assessment was to save up to &pound;20 million of Community Infrastructure Levy (&ldquo;CIL&rdquo;), to support financial viability of the scheme.</p>
<h2><strong>Approach</strong></h2>
<p>Our Student Housing team assessed rental value on a full direct let basis, to demonstrate that the proposed rents under a nominations agreement were at sub market rents, in order to fulfil the London Borough of Tower Hamlets criteria for exemption from CIL in respect of the student accommodation.&nbsp; The focus of the assessment was subsequently changed by Urbanest and its planning consultants, and a full appraisal of the student accommodation was provided, in order to assist viability assessment, for the purpose of determining the potential affordable housing contribution.</p>
<h2><strong>Added value</strong></h2>
<p>JLL&rsquo;s Student Housing Advisory team collaborated with JLL&rsquo;s Higher Education and Student Accommodation Capital Markets teams, to draw upon a wealth of experience and resources to quickly re-focus the report within a short timescale. The report produced was highly insightful and market leading, minimising the likelihood of LB Tower Hamlets successfully challenging any aspect of the report.</p>
<h2><strong>Challenges</strong></h2>
<p>Revised requirements led to refocusing and delivery of the report in tight timescales.</p>
<h2><strong>Achieved</strong></h2>
<p>JLL&rsquo;s appraisal and report was swiftly re-focused within a short timescale, to enable Urbanest&rsquo;s planning consultants to promptly incorporate the appraisal within its viability assessment, in order to meet tight planning submission deadlines.</p>
<p><a href="https://residential.jll.co.uk/services/valuation-advisory" style="font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;white-space:inherit;word-spacing:normal;caret-color:auto;"></a><button class="Button primary"><a href="https://residential.jll.co.uk/services/valuation-advisory" style="font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;white-space:inherit;word-spacing:normal;caret-color:auto;"></a><a href="https://residential.jll.co.uk/services/valuation-advisory">Our valuation advisory services</a></button></p>

Supporting Urbanest’s planning application for student accommodation

We delivered a financial viability asesesment, supporting Urbanest’s planning application for a mixed-use redevelopment in the London Borough of Tower Hamlets.

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            <p><img src="https://weasresicmspd.azurewebsites.net/images/default-source/articles/icons/location-icon-(3).png?sfvrsn=b3511b0_2" alt="Location icon" width="45" height="45" /></p>
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            <td style="width: 25%;">
            <div style="flex:33.33%;padding:0;text-align:center;vertical-align:bottom;">
            <p><strong><img src="https://weasresicmspd.azurewebsites.net/images/default-source/articles/icons/jll_icon_red_046-(1).png?sfvrsn=11bf761d_2" alt="Pound icon" width="45" height="45" /></strong></p>
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            <p><strong>Financial viability assessment <strong></strong></strong></p>
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            <td style="width: 25%;">
            <div style="text-align:center;">
            <p><strong>London, Waterloo&nbsp;</strong></p>
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            </td>
            <td style="width: 25%;">
            <div style="text-align:center;">
            <p><strong>187x Build to Rent units plus commercial</strong></p>
            </div>
            </td>
            <td style="width: 25%;">
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            <p><strong>&pound;154m GDV</strong></p>
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<p>&nbsp;</p>
<h2><strong>Ambition</strong></h2>
<p>JLL were instructed to support Grainger&rsquo;s planning application, providing a financial viability assessment (FVA) to illustrate the viable amount of affordable housing that could be provided (17%) for their Build to Rent scheme in Lambeth. The scheme forms part of the OCCC Estate regeneration program, Grainger purchased the 1930s housing estate as part of a deal with the Church Commissioners and became sole owner in 2011.</p>
<h2><strong>Added value</strong></h2>
<p>Our evidence illustrated the financial constraints securing a lower level of affordable housing. Our input at and in advance of the appeal hearing resulted in agreements on multiple points. As a result, Lambeth changed their position and supported our appeal significantly reducing the risks and costs to our client.</p>
<h2><strong>Challenges</strong></h2>
<p>The appeal required fast past discussions on multiple technical viability points that often veered into planning policy. We worked closely with JLL Planning colleagues and the wider team to achieve a successful outcome.</p>
<h2><strong>Achieved</strong></h2>
<p>The appeal was allowed by the Planning Inspector in favour of Grainger plc. Located close to the Old Vic theatre and Waterloo station, the scheme includes the re-provision of 33 new homes for existing long-term residents and 36 affordable homes available at discounted market rent and London Living Rent levels.</p>
<p>JLL&rsquo;s appraisal and report was swiftly re-focused within a short timescale, to enable Urbanest&rsquo;s planning consultants to promptly incorporate the appraisal within its viability assessment, in order to meet tight planning submission deadlines.</p>
<p><a href="https://residential.jll.co.uk/services/valuation-advisory" style="font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;white-space:inherit;word-spacing:normal;caret-color:auto;"><button class="Button primary">Our valuation advisory services </button></a></p>

Viability assessment for Grainger’s OCCC Estate regeneration scheme

We supported Grainger’s planning application by providing a financial viability assessment. 

<p>We supported Grainger&rsquo;s planning application by providing a financial viability assessment. Our evidence illustrated the financial constraints of their scheme, securing a lower level of affordable housing.<em> </em></p>

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<p>With the Stamp Duty Holiday in place between now and March 31<sup>st</sup>&nbsp;2021, we&rsquo;ve explored two neighbourhoods&nbsp;of East London, Canary Wharf and Stratford, to determine why they are great places to live and invest in. Whether you're a&nbsp;first-time&nbsp;buyer, downsizing, upsizing or looking to add to your property portfolio, discover our property experts&rsquo; opinions about two of East London&rsquo;s cultural hotspots.&nbsp;&nbsp;</p>
<p>Known for the&nbsp;iconic skyscrapers&nbsp;of&nbsp;Canary&nbsp;Wharf&nbsp;and&nbsp;the&nbsp;Queen Elizabeth II&nbsp;Olympic&nbsp;Park, East London is&nbsp;an enviable place to call home.&nbsp;From&nbsp;a morning at&nbsp;Billingsgate Fish Market,&nbsp;afternoon aperitifs at&nbsp;Roof East&nbsp;bar and fine dining at&nbsp;Michelin-starred&nbsp;restaurant&nbsp;ROKA,&nbsp;you're never short of things to do. The green spaces&nbsp;in the Isle of Dogs&nbsp;and the Olympic Park&nbsp;offer great outdoor areas for&nbsp;after work runs or weekend picnics.&nbsp;Not to mention excellent transport links, this London hub is perfect for all the family.&nbsp;&nbsp;</p>
<h2><strong>Looking&nbsp;to buy in&nbsp;Canary Wharf?</strong>&nbsp;&nbsp;</h2>
<p>Perfectly situated on the water, Canary&nbsp;Wharf&nbsp;is a great location to benefit from&nbsp;serenity&nbsp;and connectivity.&nbsp;Local parks and the Crossrail Roof Garden act as a perfect reprise to escape the hustle and bustle of busy life in Canary Wharf.&nbsp;The Zone 2 setting is ideal for those working in the financial hub, the City,&nbsp;or students commuting across the capital,&nbsp;with convenient links via&nbsp;the&nbsp;Jubilee line&nbsp;and&nbsp;Docklands&nbsp;Light&nbsp;Railway.&nbsp; &nbsp;</p>
<p style="text-align: center;"><em>&ldquo;The Wharf has&nbsp;vastly&nbsp;developed over the years,&nbsp;transforming&nbsp;from 17<sup>th</sup>&nbsp;century marshlands,&nbsp;to&nbsp;busy docklands in the&nbsp;20<sup>th</sup>&nbsp;century&nbsp;and&nbsp;today&nbsp;as the&nbsp;financial hub of the country with&nbsp;an&nbsp;iconic skyline. Buyers can find a varied range of properties in E14,&nbsp;such as&nbsp;new&nbsp;high-rise&nbsp;apartments&nbsp;with all the desired facilities for modern day living,&nbsp;but also warehouse conversions, low-rise riverside apartments and older estates for those looking for something a little bit different.&rdquo;&nbsp;</em>&nbsp;</p>
<p style="text-align: center;"><em><strong>Mark Montes, Head of&nbsp;Sales Canary Wharf</strong></em>&nbsp;&nbsp;</p>
<h2 style="text-align: left;"><span style="text-align: left;"><strong>Looking&nbsp;to buy&nbsp;in&nbsp;Stratford?&nbsp;</strong></span></h2>
<p style="text-align: left;"><span style="text-align: left;"></span></p>
<p>Stratford has become a hotspot for people of all ages to live in since the 2012 London Olympics.&nbsp;From&nbsp;apartments once inhabited by famous athletes&nbsp;inside modern&nbsp;residential developments&nbsp;to warehouse conversions alongside the River Lea, Stratford caters for all property preferences.&nbsp;The mix of traditional and modern in Stratford is evident with the surplus of homes surrounded by garden squares.&nbsp;</p>
<p style="text-align: center;"><em>&ldquo;Our<a href="https://residential.jll.co.uk/insights/research/has-covid-19-altered-our-housing-needs">&nbsp;<em>latest research</em>&nbsp;</a>indicates how green spaces and plenty of amenities on your doorstep are a must&nbsp;and&nbsp;you&rsquo;re never short of&nbsp;activities&nbsp;in Stratford.&nbsp;With the&nbsp;luscious&nbsp;Queen Elizabeth Park,&nbsp;Westfield&nbsp;shopping&nbsp;centre, boutique restaurants, bars and cafes&nbsp;all&nbsp;provide&nbsp;an ideal place for families to expand into larger homes and young professionals&nbsp;to make their&nbsp;first purchase, which the stamp duty cut has allowed both to do.&rdquo;</em>&nbsp;</p>
<p style="text-align: center;"><em><strong>Michael Harvey, Senior Sales Consultant Stratford</strong></em>&nbsp;</p>
<p style="text-align: left;"><span style="text-align: left;">Discover the properties we have for sale below and find out how much you can save on the new stamp duty savings by using our stamp duty calculator </span><a href="https://residential.jll.co.uk/stamp-duty-calculator" style="text-align: left;">here</a><span style="text-align: left;">.</span></p>
<p style="text-align: center;">&nbsp;</p>
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            <p><img src="https://weasresicmspd.azurewebsites.net/images/default-source/default-album/canary-wharf.tmb-medium.jpg?sfvrsn=14a1371_1" width="240" height="119" alt="Canary Wharf" /></p>
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            <td style="width: 25%;">
            <div style="flex:50%;padding:0;text-align:center;vertical-align:bottom;">
            <p><img width="240" height="119" src="https://weasresicmspd.azurewebsites.net/images/default-source/default-album/stratford.tmb-medium.jpg?sfvrsn=e922c74e_1" alt="Stratford" /></p>
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            <p><a href="https://residential.jll.co.uk/search/homes-for-sale-canary-wharf"><strong>Properties for sale in Canary Wharf</strong></a></p>
            </div>
            </td>
            <td style="width: 25%;">
            <div style="text-align:center;">
            <p><a href="https://residential.jll.co.uk/search/homes-for-sale-stratford"><strong>Properties for sale in Stratford</strong></a></p>
            </div>
            </td>
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<p>&nbsp;</p>
<p style="text-align:center;"><a href="mailto:residential.marketing@eu.jll.com " target="_blank"><button class="Button primary">Contact us</button></a></p>
</div>

Stamp Duty Spotlight: Canary Wharf and Stratford

neighborhood-watch-paddington-900-600

East London, Canary Wharf and Stratford, stamp duty homes available to buy from JLL Residential.

With the new changes to the Stamp Duty and Land Tax we look at why these two areas in East London are a great place to live and invest in.

Looking to buy in East London? Read our Spotlight on Canary Wharf and Stratford here.

Looking to&nbsp;move to&nbsp;East London? Explore our portfolio of homes,&nbsp;the local area&nbsp;and find out how much you can save with the new stamp duty rates.

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<p><em>&ldquo;You cannot get through a single day without having an impact on the world around you. What you do makes a difference, and you have to decide what kind of difference you want to make.&rdquo; ― Jane Goodall, Primatologist</em></p>
<p>Our blue planet is at a turning point like never before. Climate change, global warming and resource depletion puts not just our health and wellbeing at risk, but also our future survival. COVID-19 has offered many of us the opportunity to reflect on the world that we want to see in the future, and a world that we can help create. From better use of resources and reduction in plastic consumption and waste to a more balanced way of life that allows us to get outdoors where biodiversity can flourish, there has never been a better time to work towards a healthier and more sustainable life.</p>
<p>Living more sustainably offers us a way to help make a positive difference for both ourselves and the planet. From the places we shop and businesses we support to the food we eat and the places we travel our cumulative individual impact <a href="https://www.jll.co.uk/en/views/do-you-have-a-passion-to-make-the-world-a-better-place ">can make a difference.</a>&nbsp;</p>
<p style="text-align: left;">Deciding where to start when it comes to incorporating more sustainable behaviours into our daily lives can feel daunting. Especially considering how much information is available. To help you live more sustainably, we&rsquo;ve outlined 10 ideas below.<br />
<br />
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<h2><strong>1) Change your energy provider</strong></h2>
<p>Probably one of the most well-known ways to reduce your impact is by changing your energy tariff to ensure you&rsquo;re using a renewable energy provider. With working from home, there has never been a more important time to ensure that you're using renewable energy to power your activities reducing your electric impact to zero.</p>
<h2><strong>2) Home improvements</strong></h2>
<p>Not all sustainable improvements cost an arm and a leg, simply switching to LED lightbulbs at home can reduce the energy required for lighting by up to 75%. If you&rsquo;re looking to go one step further, insulating is an essential to prevent heat loss and reduce your bills in the process.</p>
<h2><strong>3) Buy big</strong></h2>
<p>From toilet rolls to toiletries, increase the size of what you buy means bigger volumes, but less plastic compared to buying 2 smaller versions of the same product. Companies like WhoGivesACrap who deliver plastic free bulk toilet roll to your front door also saves you the hassle of having to lug the box around and enables you to reorder direct to your door when your running low as well.</p>
<h2><strong>4) Upgrade your office cutlery</strong></h2>
<p>How many disposable forks or cups have you picked up when in the office or grabbing lunch on the go? Now is the perfect time to invest in a permanent set you can keep at your desk or your locker for when you&rsquo;re on the lunch rush. Even better, opt for a set you can keep in your bag so that you&rsquo;ll never have to pick up on the go cutlery again.</p>
<h2><strong>5) Loose tea and no plastic coffee</strong> </h2>
<p>Did you know the majority of tea bags have plastics in? Or that most coffee comes in plastic. </p>
<p>As a nation of tea lovers and fast living, tea bags and disposable coffee cups are an everyday occurrence but with teabags often being made of plastic infused fibres and coffee cups also having a plastic lining our daily drinks are a pollution problem. When it comes to coffee, just be sure to have a reusable cup with you to avoid more waste. For tea, well why not find a tea brand that doesn&rsquo;t use plastic, there are a few, or opt for loose leaves. After all, with an average of 4 cups of tea per day, you could save 1,460 plastic tea bags from entering the waste system and potentially our water ways.&nbsp;</p>
<h2><strong>6) Shake up your holiday </strong></h2>
<p>Heading to Europe, why not go by train? As well as cutting your emissions by around two thirds compared to travelling by air, going by train also provides the opportunity to make the journey a positive part of the experience. With an increasing number of European countries offering overnight services travelling by train has never been so easy and with free luggage, it can even be cheaper!<br />
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<img src="https://res.cloudinary.com/jll-global-olm-np/image/upload/v1600773787/resi/gb/cms/Research/Images/Shoreditch%20London.jpg" alt="_dsc9116" title="_dsc9116" style="vertical-align: middle;" /> </p>
<h2><strong>7) Check your clothing labels</strong></h2>
<p>Over half of all clothes now produced are made from plastic fibres. Checking the label before buying is an easy way to try and ensure you cut down, opting for natural fibres such as cotton, wool, coconut, silk and bamboo instead of polyester, acrylic or nylon. For things like sports kit where plastic is often the main material, why not purchase a guppy bag which will catch the microfibres being shed by your clothes in the wash.&nbsp; With clothes shedding around 700,000 microfibres per wash, helping to stop these from entering waterways is so important.</p>
<h2><strong>8) Leave your phone behind</strong></h2>
<p>With cloud storage soon to overtake aviation as a greenhouse gas emitter, leaving your phone (especially your work phone) at home has never been more important when we&rsquo;re travelling. If you can&rsquo;t resist the urge, be mindful to switch off apps, automatic cloud uploads and photo storing to reduce your impact. One last note is to be very careful not to geotag your locations when abroad, especially if wildlife is involved. There have been cases&nbsp;of poachers finding endangered species from tourist locations. </p>
<h2><strong>9) Invest in companies you believe in</strong></h2>
<p>Although our own actions are important, the only way we can collectively make real change is by supporting businesses that are doing the right thing. Where we save, store and spend are money all matter. So be sure to opt into sustainable pension funds, encouraging your company to offer this as standard, if possible switch to banks which are no longer investing heavily into fossil fuel production and spend your money with companies you genuinely believe in because it is the top 100 polluting companies who account for 71% of global emissions that we need to trigger change within.</p>
<h2><strong>10) Influence your place of work to do better</strong></h2>
<p>Finally, if you don&rsquo;t think your workplace is doing enough to tackle the climate crisis, tell them. As employees, we are all accountable to make our businesses better.</p>
<p>At JLL, together with our partners, we aim to drive disruptive and impactful change by embedding sustainability into everything we do. By helping you take a responsible and sustainable approach that contributes to a better world, we are working to shape the future of real estate.</p>
<p>&nbsp;</p>
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<p style="text-align:center;">Erin Williams &ndash; Consultant Upstream Sustainability Services</p>

Living sustainably in 2020

COVID-9 has offered many of us the opportunity to reflect on the world that we want to see in the future, and a world that we can help create.

<p>Climate change, global warming and resource depletion means there has never been a better time to work towards a healthier and more sustainable life.<br />
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<p>The Living sectors (student housing, coliving,&nbsp;multifamily, and later living) are a key component of the real estate market and fundamentally driven by structural and demographic change. On that basis, are the changes driven by COVID-19 supportive of that or do they raise new challenges and opportunities for investors, developers and operators?</p>
<p>Our latest article discusses the above question further, delving into each of the&nbsp;Living sectors. Download the article below.</p>
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Reimagining Living: Covid-19 and its impact on the Living sectors

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Are the changes driven by COVID-19 supportive of that or do they raise new challenges and opportunities for investors, developers and operators? Our latest article explores further.

Reimagining Living: Covid-19 and its impact on the Living sectors 

<p>The COVID-19 pandemic and the ensuing lockdown has had a major impact on our way of life. But how have these changes impacted the Living sectors and those looking to invest in these asset classes?</p>

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<p>On 8<sup>th</sup> July 2020, Chancellor Rishi Sunak announced the Stamp Duty Holiday, updating the previous tax rates for those looking to purchase a residential property in England and Northern Ireland. The threshold for paying stamp duty tax has been raised to &pound;500,000. Whether you&rsquo;re looking for your first home, upsizing or downsizing, or simply want to add to your existing property portfolio, this new change could help you to save money.</p>
<p>Demand to move has spiked since the stamp duty holiday was announced in July. Rightmove reported an uplift in traffic to their website by 22% in the first half hour following the stamp duty announcement (Rightmove and Google Analytics, 8<sup>th</sup> July 2020), and new listings on the property portal are up by 50% compared to July last year (Rightmove, August 2020). Buyers and sellers tempted by the stamp duty holiday are more than ever ready to move.</p>
<p>Nick Whitten, Head of UK Living Research at JLL reported:</p>
<p><em>&ldquo;There is a lot of pent up demand for new homes in the UK &ndash; <a href="https://residential.jll.co.uk/insights/news/stamp-duty-tax-holiday-should-trigger-stronger-than-anticipated-bounce-in-housing-demand"><em>our research</em></a>&nbsp;shows more people are now looking to move home in the next two years. This stimulus could trigger a stronger than anticipated bounce in demand by allowing aspiring purchasers to use their stamp duty saving towards a higher deposit.&rdquo;</em></p>
<h2><strong>What does the Stamp Duty Land Tax (SDLT) change mean for you and how can you benefit?</strong></h2>
<p>The estimated cost of moving home in 2020 in the UK is &pound;8,951 according to comparemymove.com. The stamp duty holiday will help you save on your property purchase, if you buy and complete before 31<sup>st</sup> March 2021. </p>
<p>Why not use your savings to give your new home a lift? Purchasers buying a new property can save up to &pound;14,999 which can be used to update your new space. Refresh and brighten up open-plan living areas with a new colour scheme, soft furnishings, a new feature wall or upholstering the old furniture to revitalise a room. </p>
Explore our extensive range of properties and find out how much you could save on your new home using our <a href="https://residential.jll.co.uk/stamp-duty-calculator">stamp duty calculator</a>&nbsp;.

We’re all going on a Stamp Duty Holiday

Discover how much you can save until March 31st 2021 in our latest blog post 

Stamp Duty Update 2020: read our latest blog post to discover what this means and how can you benefit

<p>Stamp Duty Update 2020: what does this mean and how can you benefit from this unique and exciting opportunity</p>

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<p>The ongoing global COVID-19 pandemic has put the brakes on promising signs of early growth in Q1 and created significant levels of uncertainty. At present we anticipate more challenges ahead but overall the PCL market should bounce back as the strongest of all UK housing markets.</p>
<p>The report at present predicts a 14.4% five year sales price forecast and a 9.8% five year rental growth forecast.</p>
Want the full picture on Prime Central London&rsquo;s sales and lettings markets? Download the report here for a look at what happened in Q1 and what&rsquo;s to come:<br />
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<button id="btn-1" class="Button primary">Download Report</button>

Prime Central London Q2 2020

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Our research examines where the Prime Central London property market is headed and why now is a good time to invest, read the full report here:

Prime Central London Residential Research Report for Q2 2020

<p>Our latest research reviews the effect of Covid-19 on the Prime Central London market recovery and indicates how now is the best time to invest with potential positive returns over the next five years.</p>

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<h2><strong>Home working during European lockdowns </strong></h2>
<p>In the <a href="https://residential.jll.co.uk/insights/research/housing-needs-and-resident-preferences-across-europe-during-covid-19">previous blog</a>, we identified shifting preferences on home location and priorities within the home itself. Many of these have been stimulated by much more time spent at home under &lsquo;shelter in place&rsquo; orders, as economic activity has drastically shifted from offices to residential units.</p>
This blog unpicks the changing nature of peoples&rsquo; experiences and expectations for working from home, and leads onto identifying the similarities different socio-demographic cohorts exhibit across the whole European sample, including wider changes in home preferences in light of Covid-19.<br />
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<h2><strong>Working from home</strong></h2>
<p>Covid-19 has triggered a widespread temporary shift to homeworking. Government guidance across the continent almost unilaterally was to work from home wherever possible. Time spent at work fell, compared to normal, between 83 and 90% during its nadir under lockdown, according to Google Trends.</p>
69% of survey respondents worked infrequently (less than once a week or never) before Covid-19, but being forced to work from home for a prolonged period has changed perceptions and expectations moving forward. In a post-Covid-19 world, our respondents want to work from home more, with the most common preference (53%) being 1-2 days per week. The below chart shows that the majority of flows are moderate changes to habits. For example, those who never work from home are now mostly wanting to work once or twice a week, rather than all the time. Indeed, the same proportion (7%) of respondents are looking to work from home full-time.<br />
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<img src="https://weasresicmspd.azurewebsites.net/images/default-source/default-album/graph-1---living-prioritiesdd2906d281be463a9b788c86df40000b.png?sfvrsn=ca7b6573_0" data-displaymode="Original" alt="Graph 1 - Living priorities" title="Graph 1 - Living priorities" style="vertical-align: middle;" /><br />
<p>It is worth noting that changing work from home preferences does not necessarily correlate with lower overall office space demand. The equation is much more complicated than this, as discussed in JLL&rsquo;s &lsquo;<a href="https://www.jll.co.uk/en/trends-and-insights/research/future-of-office-demand">The Future of Global Office Demand</a>&rsquo; paper, and includes factors relating to office design and commuting patterns, as well as technological influences. </p>
<p>Most of the changes from our survey are minimal, and are likely to soften as people return to work and realise the benefits that personal interactions can have on productivity and collaboration in particular. Indeed, four months on from the first lockdowns, we are starting to a see a significant return of workers to their offices, albeit at limited capacity for now. As discussed in the earlier blog, people are looking to recreate the professional working environment at home, with second screens, office chairs, spare rooms and so on, meaning they value quality set ups. Indeed, there are many aspects of office life that simply cannot be replicated in a permanent work from home situation. There are many other factors at play as we look to the future across Europe: societal customs across the continent, ability for individuals to balance work and home lives, and ultimately employer rules and receptiveness this change. </p>
One of the interesting elements to this is the differences between age groups across our sample. Younger cohorts were significantly less likely to regularly work from home, with only 24% of 18-34s working from home once a week or more. The pandemic has significantly disrupted this trend, with all age groups relatively equally likely to want to work from home once or twice per week.&nbsp;<br />
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<img src="https://weasresicmspd.azurewebsites.net/images/default-source/default-album/graph-2---living-priorities.png?sfvrsn=1634891_0" data-displaymode="Original" alt="Graph 2 - living priorities" title="Graph 2 - living priorities" style="vertical-align: middle;" /><br />
<h2><strong style="font-size: 18px;">Towards a cohort classification</strong></h2>
One of the most striking things about the survey results is how similar experiences have been, and the strong similarities of preference for those at different life stages. Drawing on themes from both blogs, the below graphic tries to identify different socio-demographic cohorts and their headline results from the survey. We can recognise the groups most likely to look to move, where their preference would be, what they want out of a home. The changing intention around home working is also notable different, perhaps showing the demographics the offices of the future should be more targeted towards.&nbsp;<br />
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<img src="https://weasresicmspd.azurewebsites.net/images/default-source/default-album/graph-3---living-priorities.png?sfvrsn=33046ac1_0" data-displaymode="Original" alt="Graph 3 - living priorities" title="Graph 3 - living priorities" style="vertical-align: middle;" />
<h2><strong>Temporary or permanent?</strong></h2>
<p>The survey was conducted while much of Europe&rsquo;s population was in the deepest throngs of lockdown and is therefore likely that results reflect a bias for immediate concerns. As the continent&rsquo;s lockdowns ease and a semblance of normality emerges, it is possible that some views will soften, but other preferences will endure. </p>
<p>We are looking to re-run the survey in the autumn to understand the permanency of these views &ndash; how far away is the &lsquo;new normal&rsquo; from past expectations?</p>
Click&nbsp;<a href="https://residential.jll.co.uk/insights/theme/covid-19"><strong>here</strong></a>&nbsp;to read our latest COVID-19 insights.&nbsp;&nbsp;
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<p style="text-align: center;"><img src="https://weasresicmspd.azurewebsites.net/images/default-source/default-album/thomas-colthorpec1eb2d7194d94b96a1dcd11ed2e1eead.tmb-medium.jpg?sfvrsn=2397beb_1" data-displaymode="Thumbnail" alt="Thomas.Colthorpe" title="Thomas.Colthorpe" style="vertical-align: middle;" /></p>
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<p style="text-align:center;">Tom Colthorpe<br />
Senior Analyst</p>
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Home working during lockdown across Europe

In the second of two blogs based on our JLL employee survey, we interrogate shifting work from home patterns under lockdown across Europe and how they influence people’s perceptions of the home. 

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In the second of two blogs based on our JLL employee survey, we interrogate shifting work from home patterns under lockdown and how they influence people&rsquo;s perceptions of the home. Drawing on all the data, we demonstrate there are significant similarities in the experiences and expectations of distinct socio-demographic cohorts across Europe.

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<h2><strong>Could Covid-19 trigger a growth in live/work units?</strong></h2>
<p>COVID-19 has led to a widespread shift to home working and it seems certain that in the future we will spend much more time working and living in our homes. But will this shift allow for a revisit to delivering purpose built live/work units in the UK &ndash; a concept that emerged in the UK in the 1990&rsquo;s and fell away again by the mid-2000&rsquo;s.</p>
<p>Originally inspired through &lsquo;loft living&rsquo;, the modern concept of live/work housing schemes originated in the United States and was seen as a way to regenerate inner city areas made redundant by the decline of the American manufacturing industry. The appeal for &lsquo;loft living&rsquo; in the 1980&rsquo;s resulted in the gentrification of a number of neighbourhoods in America and appeared in the UK in the early 1990&rsquo;s. </p>
<p>As a concept it was initially welcomed by many Local Authorities in the London area, with several boroughs developing Supplementary Planning Guidance for this development type. This allowed for some element of development control over the separation of &lsquo;live&rsquo; and &lsquo;work&rsquo; areas within the apartments. </p>
<p>As time went on, developers successfully challenged the controls within the guidance, principally the work space requirements and the quantum of affordable housing; which led to scepticism within some planning authorities, with many growing to see the concept as means of overcoming planning controls with projects often reverting to solely residential use.</p>
<h2><strong>Planning</strong></h2>
<p>The main barriers to the live/work product expanding beyond London were founded by these scepticisms. Over time the concept was abused by some as a ruse to get around employment land restrictions whilst not providing actual workspace. Enforcement issues and an inconsistent approach from the Planning Inspectorate on determining appeals led to the concept slowly failing.</p>
<p>In part the confusion surrounded the use class. Live/work is not an easy category to define precisely and is more of a conceptual idea than a precise planning law term and as such is often referred to as sui generis. Conditions have been applied which have sought to secure a continuing ratio between workspace and living space, prevent sub-division and restrict residential occupation to those employed in the linked workspace.</p>
<p>The concept itself complies with a number of the key objectives within the National Planning Policy Framework (&lsquo;NPPF&rsquo;) &ndash; delivering required homes, whilst helping to build a strong competitive economy and making effective use of land. NPPF paragraph 81(d) states when producing planning policies, these should &ldquo;be flexible enough to accommodate needs not anticipated in the plan, allow for new and flexible working practices (such as live-work accommodation), and to enable a rapid response to changes in economic circumstances.&rdquo;</p>
<p>Research suggests that whilst the NPPF appears to encourage flexible accommodation such as live/work, very few schemes have actually been permitted, with those that have consisting of very low-density numbers, often in rural locations.</p>
<p>However, given the COVID-19 pandemic, there is certainly appetite for much more home working.</p>
<h2><strong>JLL Living Priorities Survey</strong></h2>
<p>JLL&rsquo;s recent <a href="https://residential.jll.co.uk/insights/research/has-covid-19-altered-our-housing-needs">Living Priorities Survey</a> revealed a dramatic shift in our staff&rsquo;s appetite to work from home more in the future. If we are to assume that the wider population shares the same view, it is likely that homes including working areas are now of increased importance which could signal more demand in the market for live/work units.</p>
<h2><strong>Mission Lofts, USA</strong></h2>
<p>Mission Lofts is a newly opened live/work development near Washington DC which has taken mixed-use design to a new dimension and presents a case study for how live/work units could work successfully.</p>
<p>Unlike most other live/work developments, Mission Lofts allows each of the units to be occupied at all time at the tenants&rsquo; choice as either a place to live, a place to work, or a place to do both. Amenities are included, accessible to both residential and commercial renters.</p>
<p>One of the key issues surrounding the success of live/work units in the UK in the past came down to obtaining a mortgage and whether it should be on commercial or residential lending terms.&nbsp;</p>
<p>Mission Lofts&rsquo; success indicates that live/work units may evolve more easily from the purpose-built rental models such as co-living or build to rent. </p>
<p>For the live/work model to exist within the English planning system, it may be that a balance is required between the likes of the Mission Lofts model and the evolving co-living and BTR models that are becoming ever more prominent.</p>
<p>A development which provides flexible work space on a communal floor would give the Local Authority and residents surety as to the product which is getting delivered and as such reduce the potential enforcement headaches for the developers/residents down the line.</p>
<p>In order to monetise the model, there may be potential to lease the flexible workspace to a dedicated workspace provider to generate a secondary income. There may also be potential to allow for a designated restaurant or caf&eacute; operator to be included within the floorspace, providing lunch options to those working. This again may allow for some rental income to be generated.</p>
<p>Ultimately there may be some obstacles that remain for the growth of live/work units in the UK, but with an increasing number of us working from home, working areas are likely to become a more common feature of homes generally. And perhaps this is the kickstart that the live/work model has been waiting for.<br />
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</p>
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<p style="text-align:center;">Aiden Murray<br />
Senior Planning Consultant - Planning, Development &amp; Heritage<br />
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<p style="text-align:center;">Stefanie Mizen<br />
Associate - Planning, Development &amp; Heritage</p>
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Could Covid-19 trigger a growth in live/work units?

Since the Covid-19 pandemic there has been a forced shift to homeworking. Is this the time to revisit the live/work model in the UK?

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<p>The latest set of A-level results are expected to trigger an active period for the UK student accommodation sector as students race to secure tenancies for the upcoming academic year. The sharp increase in applications between January and June has led to a 2% increase in UK applicants this year, while participation rates are at their highest level on record amongst UK 18-year olds. This goes against the underlying demographic decrease amongst this age group in recent years and defies predictions of the impact of COVID-19. </p>
<p>As of 30<sup>th</sup> June 2020, UCAS data showed that over two thirds of applicants had still not confirmed their final offers, a 10% increase in unconfirmed places compared to 2019/20. However, the first clearing data shows that UK acceptances are up by 2.9%, while non-EU acceptances are up by 2.0%. Although EU acceptances have fallen by 15.2%, overall acceptances on A-level results day are up by 1.9% year on year. </p>
<p>With universities subject to a temporary 5% cap on how many students they can take for the 2020/21 academic year, many students will now be facing strong competition given that 78% of students achieving grades A*- C (up from 75.5% in 2019). The recent GDP and employment data and the disruption caused by several months of national lockdown means that deferrals are not expected to increase. This will give many universities the opportunity to fill their places with high quality students.</p>
<p>Furthermore, the government has announced that any student appealing their decision will be exempt from the cap on places which may help to underpin demand. Although 40% of students received grades different from their teacher&rsquo;s predictions, 97% of all students are within one grade. The introduction of the triple lock and universities taking a more relaxed approach to selection is also welcome. So far, the government will not reissue downgraded students the grades predicted by their teachers, as was the case in Scotland, however public response over the forthcoming weeks may lead to additional updates from central government. </p>
<p>As before, much still rests on how many international students turn up for the start of term. There have been tentative signs that demand from this group has held firm, despite some initial concerns about the impact of COVID-19. UCAS figures from the 30<sup>th</sup> June deadline showed international applications up by 5% when compared to the same time in 2019/20. </p>
<p>Overall, leasing activity for purpose-built student accommodation remains strong. To date, over 70% of private PBSA beds have already been let for the new academic year, according to JLL&rsquo;s Student Housing Leasing Survey of over 145,000 beds, equivalent to 45% of the private market. Total bookings are ahead of where they were 12 months ago, largely as a result of existing students rebooking, and demand from new students is also up. </p>
<p>Following the disruption to the sector in March and April, the flurry of leasing activity expected in the coming weeks, as students settle on their courses and look to secure accommodation ahead of the new academic year, is expected to be positive for the sector. The results today further suggest demand will remain in the short to medium term, providing some much-needed relief to investors. </p>
<p>Philip Hillman, Chairman, Living Capital Markets, comments:</p>
<p>&ldquo;There is still uncertainty around how things will look once the new academic year gets underway in September, but after a significant period of disruption there are some encouraging signs. &nbsp;The longer-term outlook for student housing remains strong and it will continue to be driven by the same underlying counter cyclical factors that has attracted so much investment in recent years.&rdquo;</p>
<img src="https://weasresicmspd.azurewebsites.net/images/default-source/default-album/james-kingdom-bw-488x180.jpg?sfvrsn=de9ea989_0" data-displaymode="Original" alt="James-Kingdom-BW-488x180" title="James-Kingdom-BW-488x180" /><br />
<br />
<p style="text-align: center;">James Kingdom<br />
Associate - UK Living Capital Markets Research</p>

UK student housing update following A-level results day

An update on the demand outlook for the UK student housing sector following the release of this year’s A-level result. 

An update on the demand outlook for the UK student housing sector following the release of this year&rsquo;s A-level result for students in England and Wales. The new academic year presents a chance for the student housing sector to resume following the disruption caused by the pandemic in March.

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[min.1]
label="£1,000 pcm"
value=1000
[min.2]
label="£2,000 pcm"
value=2000
[min.3]
label="£3,000 pcm"
value=3000
[min.4]
label="£4,000 pcm"
value=4000
[min.5]
label="£5,000 pcm"
value=5000
[min.6]
label="£6,000 pcm"
value=6000
[min.7]
label="£7,000 pcm"
value=7000
[min.8]
label="£8,000 pcm"
value=8000
[min.9]
label="£9,000 pcm"
value=9000
[min.10]
label="£10,000+ pcm"
value=10000
 
[max]
[max.0]
label="£0"
value=0
[max.1]
label="£1,000 pcm"
value=1000
[max.2]
label="£2,000 pcm"
value=2000
[max.3]
label="£3,000 pcm"
value=3000
[max.4]
label="£4,000 pcm"
value=4000
[max.5]
label="£5,000 pcm"
value=5000
[max.6]
label="£6,000 pcm"
value=6000
[max.7]
label="£7,000 pcm"
value=7000
[max.8]
label="£8,000 pcm"
value=8000
[max.9]
label="£9,000 pcm"
value=9000
[max.10]
label="£10,000+ pcm"
value=1000000

Rent - Price

Price

title="Price"
metric="£"
type="minmax"
name="Price"
order=1

[min]
[min.0]
label="No Min"
value=""
[min.1]
label="£100,000"
value=100000
[min.2]
label="£200,000"
value=200000
[min.3]
label="£300,000"
value=300000
[min.4]
label="£400,000"
value=400000
[min.5]
label="£500,000"
value=500000
[min.6]
label="£600,000"
value=600000
[min.7]
label="£700,000"
value=700000
[min.8]
label="£800,000"
value=800000
[min.9]
label="£900,000"
value=900000
[min.10]
label="£1,000,000"
value=1000000
[min.11]
label="£2,000,000"
value=2000000
[min.12]
label="£3,000,000"
value=3000000
[min.13]
label="£4,000,000"
value=4000000
[min.14]
label="£5,000,000+"
value=5000000

[max]
[max.0]
label="No Max"
value=""
[max.1]
label="£100,000"
value=100000
[max.2]
label="£200,000"
value=200000
[max.3]
label="£300,000"
value=300000
[max.4]
label="£400,000"
value=400000
[max.5]
label="£500,000"
value=500000
[max.6]
label="£600,000"
value=600000
[max.7]
label="£700,000"
value=700000
[max.8]
label="£800,000"
value=800000
[max.9]
label="£900,000"
value=900000
[max.10]
label="£1,000,000"
value=1000000
[max.11]
label="£2,000,000"
value=2000000
[max.12]
label="£3,000,000"
value=3000000
[max.13]
label="£4,000,000"
value=4000000
[max.14]
label="£5,000,000+"
value=1000000000

Sale - Price

title="Bedrooms"
metric="bedrooms"
type="minmax"
name="bed"
order=2

[min]
[min.0]
label="No Min"
value=""
[min.1]
label="Studio"
value=0
[min.2]
label="1 bedroom"
value=1
[min.3]
label="2 bedrooms"
value=2
[min.4]
label="3 bedrooms"
value=3
[min.5]
label="4 bedrooms"
value=4
[min.6]
label="5 bedrooms"
value=5
[min.7]
label="6 bedrooms"
value=6
[min.8]
label="7 bedrooms"
value=7
[min.9]
label="8+ bedrooms"
value=8

[max]
[max.0]
label="No Max"
value=""
[max.1]
label="Studio"
value=0
[max.2]
label="1 bedroom"
value=1
[max.3]
label="2 bedrooms"
value=2
[max.4]
label="3 bedrooms"
value=3
[max.5]
label="4 bedrooms"
value=4
[max.6]
label="5 bedrooms"
value=5
[max.7]
label="6 bedrooms"
value=6
[max.8]
label="7 bedrooms"
value=7
[max.200]
label="8+ bedrooms"
value=200

Bedrooms

title="Property Type"
metric="propertyType"
type="select"
name="type"
placeholder="Any Type"
order=3

[[options]]
label="Any Type"
value=""
[[options]]
label="Flats"
value="flats"
[[options]]
label="Houses"
value="houses"

Property Type

type

title="Must be"
type="checkboxes"
name="flags"
order=4

[[options]]
label="New homes"
value="new-home"
[[options]]
label="Help to buy (equity loan)"
value="help-to-buy"
[[options]]
label="Shared ownership"
value="shared-ownership"
[[options]]
label="Coming soon"
value="coming-soon"
[[options]]
label="Reduced Stamp Duty"
value="reduced-stamp-duty"

Sale - Options

flags

Must be

title="Options"
type="checkboxes"
name="flags"
order=4

[[options]]
label="Short Term"
value="short-term"
[[options]]
label="Furnished"
value="furnished"
[[options]]
label="Unfurnished"
value="unfurnished"

Rent - Options

Options

General Enquiry

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