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The Latest Breaking News from CBRE

Few winners, many losers as office building debt and vacancy worsens

Only a handful of downtown buildings get most of the new leases as downsizing tenants give up space and commercial debt gets pressured.

Chicago Sun-Times

Bay Area tech layoffs hit mainly non-tech workers: CBRE report

SAN JOSE, California — The massive tech layoffs that have jolted the Bay Area job market have primarily affected non-tech employees of the companies that have orchestrated the local job cuts, a new report released Tuesday states.

Tribune News Service

Work starts on £5.5m revamp of Birmingham office block

St Philips Point is undergoing major facelift to create new office space and has also been rebranded Arca

Birmingham Post

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Prolonged property slump looms as interest rates expected to top 6% until 2025

“ Our prediction for an 11% decline in residential house prices over 2023 doesn’t now seem so far away,” one expert said

Evening Standard

Glasgow's Forsyth Building sold for £9.7 million

Previous owners the Ambassador Group recently refurbished the former department store

Insider UK

Chemicals firm Vuba expands South West operations with lettings deal

The Yorkshire-headquartered firm specialises in resin bound surfacing for driveways

Birmingham Post

The five areas where Manchester's property market is dominating

CBRE's findings were informed by Manchester's projected population growth, with the firm estimating that it could increase by almost 6% within the next ten years

Manchester Evening News

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B&M, Everton and CBRE: The 48 latest North West hires and promotions

BusinessLive rounds up the latest hires and promotions across the North West

Birmingham Post

Bristol interior design firm wins multi-million pound contract to 'transform' city centre complex

Paramount has been tasked with providing a "high-spec refurbishment" for global investment bank Credit Suisse

Birmingham Post

Record number of London offices rented for £100 per sq ft

The deals are often driven by tenants looking for more sustainable offices in central LLondon locations.

Evening Standard

Looking for a housing price crash? That’s unlikely, real estate economists say

The nation‘s housing market is going through a correction, not a crash.

The Orange County Register

Price tag of £12m handed to city centre office block eyed for major redevelopment

Hundreds of apartments could be created if a deal is agreed

Birmingham Post

Co-op's landmark city centre HQ is put back up for sale

The building includes an auditorium, restaurant, convenience store, coffee shop, gym and fitness studio, as well as several roof terraces

Manchester Evening News

Sale of Co-op's HQ relaunched with asking price cut by £45m

The building was first put on the market in June 2022

Birmingham Post

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Liverpool Echo

Huge printing site up for sale ahead of closure and loss of 250 jobs

Company blames 'significant decline' in market since 2019 for closure

Birmingham Post

Huge printing site up for sale after 250 jobs lost

Prinovis is the UK's last remaining publication gravure printer with sales last year of more than £46m

Birmingham Post

Retail, offices and life sciences to power real estate growth in Birmingham - report

Property consultancy CBRE has analysed 12 real estate sectors in 50 regional cities and towns across the UK

Bristol Post

Plan to knock down Za Za Bazaar's building look set to be refused

The replacement building would 'sit uncomfortably within its setting and dominate nearby buildings'

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Birmingham Post

Stantec moves into new Leeds city centre base to bring 140 colleagues together

The move will see the Stantec team move from existing offices at The Boulevard on Leeds Dock

Evening Standard

Post-pandemic demand for UK film and TV studio space expected to climb

Demand for film and TV studio space is anticipated to climb in 2023 and next year in the UK as the industry moves quickly to satisfy consumer appetite for plenty of shows, according to a new survey.

Birmingham Post

Over 400 jobs to be created at new multi-million pound industrial estate

Five units are to be created at the site in Ellesmere Port

Bangkok Post

Foreigners seeking luxury homes

Foreign interest in purchasing luxury residences in Thailand, including condominiums, houses and villas in prime locations, has surged since the return of international tourists in the second half of 2022, according to property consultancy CBRE.

Tribune News Service

More office workers are leaving home and returning to their cubicles

Employers are turning up the heat on workers who headed home during the pandemic to return to the office.

Chicago Sun-Times

Office, housing deals bode well for suburban growth

After years of slack office demand, investors are opting to either improve or redevelop their properties. Meanwhile, the supply of new housing could get a jolt from plans in Sugar Grove.

Tribune News Service

Converting offices to housing is hard. These changes could make it easier

PORTLAND, Oregon — Stroll around America's vacant downtowns, and a seemingly obvious solution emerges to the housing shortages and homelessness problems in many states: Why not turn all those unoccupied offices into living spaces? Especially in cities such as Portland, where the office vacancy rate in the urban core peaked…

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