Today, JLL shares more in common with the big, global investment houses and tech firms than the bricks and mortar commercial property sector. The property market is being re-invented. And this is the backdrop to our work with JLL. In a world of low interest rates – even if these do creep up in the coming years – property has become the de facto third asset class. Property is better seen as a platform or creative force to revitalise and energise communities; optimising rents and increasing capital returns.
The days of the deal-maker-come-negotiator are giving way to the pre-eminence of place-makers applying, strategic insights, data and creative thinking, to reinvent and revalue neighbourhoods through iconic, mixed-use developments, and importantly, skills in brand management.
The disruptive forces are varied. Witness the move towards more flexible work spaces in response to the gig-economy. And the shift to mixed retail, leisure, office and residential. These trends require a sophisticated, insight-driven approach to creating value from commercial property investments. Not to mention the impact of mass-urbanisation and the emergence of smart city infrastructure. Even drones, as they apply to logistics, are impacting the value and opportunity across the property landscape.
Think of game changers like, Airbnb, Zoopla or Pavegen, who produce floor tiles that generate energy. Or, the myriad connected, AI-driven technologies that revolutionise building management. Or, the VR 360 technologies that are changing how we view and purchase property. It’s a relentless disruption across a broad canvas, but it’s also creating a massive opportunity. We’ve been working with JLL, for several years now, to communicate their edge-thinking in the property market to the C-suite in the investment community through trade-shows and global customer summits.
April 19, 2020