This year’s South Wales report launch breakfast on Tuesday 4th March 2014 brought together 200 real estate decision makers from South Wales, in the now customary setting of the SWALEC Cricket Stadium at Sophia Gardens, Cardiff.The launch took place on a memorable day for the firm with the announcement of a name change from Jones Lang LaSalle to JLL – a name which will have greater global visibility and is better adapted to the digital world.
Head of UK Research, Jon Neale provide an insightful view of the wider economic picture before Chris Sutton, Justin Millett and Rhydian Morris outlined the property market by sector in Wales. The presentation outlined how the economic temperature has risen in South Wales with a consequent improvement in both the occupational and investment markets. Guests then enjoyed a full Welsh breakfast and an opportunity to network.
"This year’s South Wales Report highlights an improving market across most property sectors. Cardiff however remains the focal point for investors, with over £100m of investment transactions last year in the Cardiff office market alone. We have also seen higher level of occupational demand with, for example, Pinewood Studios Wales taking Wentloog Energy Centre in Cardiff in a landmark inward investment project. There is now a shortage of Grade A floorspace in both office and industrial sectors which, in the medium term, should lead to increased development.
"The clear direction of new policies by Welsh Government policies is one of encouraging investment in infrastructure, strong leadership of our city regions and reform of the planning system. The opportunity is there for the property sector to work with government to secure growth."Chris Sutton – Lead Director, Cardiff
"All the indications are that the UK will be among the best performing economies in the developed world over 2014. Wales, and particularly Cardiff, are well positioned to take advantage of this, and while growth rates may be lower than in London and the South East, they will remain impressive compared with other European countries."Jon Neale - Head of UK Research
Speakers: Chris Sutton, Justin Millett, Rhydian Morris, Jeremy Richards, Jon Neale
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2014's South Wales Report highlights an improving market across most property sectors.