SIOR has conducted a survey of its European membership to assess the outlook for the office and logistics markets. The survey considers supply, demand, and rental growth for prime space, as well as the opportunities and challenges highlighted by our respondents. Other themes include the impact of technology and respondents’ business focus for 2024.
We would like to thank Daniel Francis, Head of Research at our sponsor Carter Jonas, who led this report and the SIOR members across Europe who shared their valuable insights.
SIOR’s Global President David Lockwood SIOR will be in attendance accompanied by Robert Thornburgh SIOR FRICS, SIOR’s Chief Executive Officer.
They will be supported by SIOR colleagues:-
We encourage you to bring a colleague who may be interested in learning more about SIOR.
The Grenache Cannes Wine Cellar (previously Vallauri’s Cave à Vin) is located at 10 Rue des Halles behind the Marché Forville, Cannes’s local food & flower market, just a short walk from the Palais des Festivales.
On behalf of Andrew Smith SIOR FRICS, President of the SIOR European Chapter and the members of the European Chapter leadership, we wish you all a very Merry Christmas and a healthy and prosperous New Year!
This year’s Christmas card shows a small selection of our members in action: networking, doing business, making friendships and overall enjoying our unique culture while taking our chapter from strength to strength.
The New Year will bring new faces and new exciting opportunities. 2024 will also be a special year in view of our bi-annual highlight, the 4th SIOR International Conference in Berlin. Register now to make use of the early-bird rate and keep an eye out for all upcoming events and we look forward to seeing you there.
In the meantime, we wish you a joyous festive season in the hope that those suffering will also find peace and comfort from our continued support and prayers. .
The SIOR Europe Chapter AGM will take place virtually on Teams at 4pm BST and 5pm CEST on Thursday, 16th May 2024.
This year we hold the meeting on line and with members in over twenty countries, we hope that most of you will be able to join on Teams. Click for the SIOR ERC AGM Notice & Agenda
ON-LINE REGISTRATION IN ADVANCE IS REQUIRED. The link to the event will be sent by separate email, only to those who have registered, closer to the date.
MIPIM – The World’s Leading Property Market
12-15 March 2024 – Palais des Festivals, Cannes, France
MIPIM brings together the most influential players from all international property sectors, offering unrivalled access to the greatest number of development projects and sources of capital worldwide. This unique environment provides exceptional networking, showcasing and commercial opportunities for property advisors, developers, regional authorities, investors and corporate end-users.
SIOR members may benefit from SIOR’s delegate stand rate.
Contact events@sioreurope.com for further details or to find out more about adhering to SIOR.
The SIOR Europe Chapter AGM will take place virtually on Zoom at 4pm BST and 5pm CEST on Thursday, 28th Septemer 2023.
Registration is necessary. Please email admin@sioreurope.com for further details.
The formal part of the meeting will be immediately followed by a fireside chat with incoming SIOR Global President David Lockwood SIOR and our very own Chapter Administrator Liana Toumazou. Please stay with us online following the adjournement of the meeting.
The Society of Industrial and Office Realtors (SIOR) attended MIPIM in force with its international and European leadership all present to meet with its global membership and address the local and international issues that affect its 3,700 members in 45 countries.
In fact, with over 50 representatives present in Cannes this year, it was a record number of SIOR members and guests at the conference, and the organisation’s stand served as a great base camp for members, their clients and contacts to meet and do business.
For the SIOR leadership, there were two key trends on the agenda, as SIOR executive vice-president Patricia Loveall explained: “Industrial is up; office is down. The depressed office market is a direct result of the COVID pandemic and at this point the status quo is not an option. There is going to be a new look and feel in the office sector as the issues facing the industry represent a challenge to our members and our task is to provide them with support. That element of the industry needs to be reimagined.”
Meanwhile, the society’s CEO, Robert Thornburgh, highlighted reasons to remain optimistic “Building, design, everything is changing and those who are nimble and accept the challenges will be the winners. Our job is to educate, collaborate and assist our members over the next five or even 10 years to work through these issues and see them emerge stronger.
“On the industrial side, the disruption of supply chains is creating new opportunities, with limitations on imports benefiting local manufacturers. We’re seeing double-digit growth in 2023, and we don’t see the market changing for industrial.”
Finally, SIOR’s European Chapter President, Andrew Smith, added: “There are positive signs that recovering demand is bringing back industrial appreciation – certainly there appears to be competition again – and the occupier market has remained resilient, with many standout companies driving demand for land.”
For SIOR, MIPIM remains an essential meeting place for its members to make new connections and broaden their reach, and Robert Thornburgh highlighted that “There’s nowhere else that brings together such a wide variety of people, companies and countries.”
While there was a lot of uncertainty ahead of MIPIM in the UK, fuelled by doomsday talk of recession, Andrew Smith was keen to point out that in reality; “Judging from the noises on the ground, it seems that the UK economy has proved more robust than many people feared. There’s still a bit of nervousness around US interest rates, and concerns that these could keep rising until the end of the year, however it looks like UK interest rates may be peaking and the industry has perhaps weathered the worst of the storm. And while it’s difficult to generalise the pan European market, it’s largely been spared the same corrections as the UK market, which has taken a big hit in the last 9 months. With all that said, there are positive signs that recovering demand is bringing back industrial appreciation (certainly there appears competition again), and the occupier market has remained resilient, with many standout companies driving demand for land.”
Other trends of note to emerge from MIPIM were on the sustainability side, as external geo-political and macro-economic pressures over the last year has seen a massive rise in the number of businesses interested in transitioning towards low carbon solutions, as well as significantly ramping up of renewable energy sources, with commitments to phase down fossil fuel reliance really making a difference. This newfound urgency has translated into a dramatic focus in financing.
For SIOR, MIPIM has been a really good opportunity to bring together the leadership of the group from both the US and Europe, to congregate with far-flung colleagues and network. SIOR is at its heart a network of like-minded people, so the conference is a natural stage for members to make new connections and broaden the organisations reach.
Climate Related Stranded Assets – Why Are They Coming Under Increasing Scrutiny and How Do We Address Them?
SIOR is pleased to continue to support and partner with IAMC.
To this end, SIOR members are participating at their forthcoming International Forum taking place between 7th – 9th June 2023.
SIOR is contributing to the Forum by providing a panel of industry experts on 8th June to discuss the potential impact on the marketplace of climate related stranded assets. To be introduced by Paul Danks SIOR FRICS and moderated by Kevin Copsey, OBE.
For the agenda, details and registration you may visit IAMC